Market Trends and Growth: April 2022

Monday, 18 April 2022

Atmospheric Water Generator Market Worth $4.56 Billion By 2030

The global Atmospheric Water Generator Market size is expected to reach USD 4.56 billion by 2030, registering a CAGR of 9.0% over the forecast period, according to a new report by Grand View Research, Inc. The market is primarily driven by declining freshwater levels, rising technological advancements, and favorable government regulations. The demand for freshwater for industrial and drinking uses is expected to witness growth on account of the declining freshwater levels and depleting water supplies. Moreover, increasing infrastructural development and rapid industrialization have contributed to water scarcity, thereby augmenting the demand for these products over the forecast period.

Atmospheric water generators (AWGs) are manufactured using two principles, including cooling condensation and wet desiccation. Cooling condensation is the most widely used technique owing to large-scale installations in various industries. The wet desiccation technology is comparatively new and is primarily used in army base camps and large-scale industries. Atmospheric water generators are mainly utilized in industrial and commercial facilities owing to high installation costs. Initiatives taken by companies across several sectors to implement eco-friendly practices in the business are expected to drive the product demand in the industrial application segment.

Rising research & development activities in this technology are likely to enable manufacturers to develop generators with increased efficiency and reduced ow environmental impact. New product development initiatives undertaken by various manufacturers now integrate onboard power generation units, including wind turbines and solar panels. Many emerging manufacturers, such as Akvo Atmospheric Water Systems Pvt. Ltd. and Drinkable Air, are primarily involved in making domestic AWGs on account of the relatively simple production process. In addition, increasing investments by various governments in water infrastructure is expected to boost the demand for AWGs in residential applications.

Related Press Release@ Atmospheric Water Generator Market Report

Atmospheric Water Generator Market Report Highlights

The cooling condensation segment accounted for the largest revenue share in 2021 owing to the improving technology, along with rising demand for cooling condensation water generators in water-stressed regions
The industrial sector is expected to witness a significant CAGR from 2022 to 2030 on account of the growing demand for water in electricity generation, papers, mining, textiles, and pharmaceutical drugs applications
The product demand in Asia Pacific is likely to grow at the fastest CAGR over the forecast period due to water scarcity and depleting freshwater resources coupled with the rising infrastructural activities and rapid industrialization
In January 2020, Energy and Water Development Corp. (EAWD) sold its self-sufficient energy supply AWG system to a Mexican company engaged in manufacturing bottled waters

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Tuesday, 5 April 2022

IoT Microcontroller Market Size Worth $12.94 Billion By 2030

The global Iot Microcontroller Market size is projected to reach USD 12.94 billion by 2030, registering a CAGR of 12.7% from 2022 to 2030, according to a new study by Grand View Research Inc. Increase in adoption of smart home devices integrated with mobile applications and advancements in low power Microcontroller (MCU) are expected to drive the market growth. The surge in the number of enterprise IoT connections across industries such as manufacturing, healthcare, and energy and power is also expected to drive the growth of the market over the forecast period.

Advancements in short-range wireless connectivity such as Zigbee, Bluetooth, and KNX technologies, notably in Europe and North America also expected to drive IoT adoption over the next few years. Advancements in disruptive technologies such as big data analytics, Artificial Intelligence (AI), and industrial IoT are further expected to propel the adoption of IoT-connected devices. Increasing investments through funding in start-ups such as Hypervolt, HIXAA, SmartRent, and other SMEs that help to gain new IoT-based projects in industries likely to create the need for a high-performance, low-power IoT MCUs market over the forecast period.

Key IoT MCU manufacturers such as RENESAS Electric Corporation, NXP Semiconductors, and STMicroelectronics are innovating high-performance MCUs to meet the demand. For instance, in 2022, Renesas Electric Corporation launched the 32-bit RA Family of microcontrollers (MCUs). The launched product is based on the Arm Cortex-M23 core, which offers shallow power consumer MCUs developed explicitly for IoT endpoint applications, including industrial automation, medical devices, intelligent home appliances, and wearables.

The COVID-19 outbreak positively impacted the IoT MCU market in 2020. Government-imposed restrictions and stay-at-home mandates increased the demand for smart wearables, including fitness trackers, health-based wearables, and other consumer IoT devices. Due to a sudden increase in demand for consumer IoT devices and a temporary halt of production units, the market experienced a shortage of MCUs in 2021, creating an imbalance in supply and demand. In light of these factors, device manufacturers are expected to hike the connected product prices in 2022, which is likely to continue until 2023.

Related Press Release@ IoT Microcontroller Market Report

IoT Microcontroller Market Report Highlights

32-bit captured more than 40% market share of the overall IoT MCU market in 2021, with the market size expected to register a CAGR exceeding 13% over the forecast period. An increase in the adoption of smart utilities and industrial robotics is expected to drive market growth over the forecast period
By 2030, the wearables segment is expected to surpass USD 700 million with a CAGR exceeding 13%. It is ascribed to increasing awareness for health and fitness among individuals, significantly contributing to the adoption of wearable technology, supporting market growth
Asia Pacific led the market in 2021, a trend expected to continue over the mid-term. The regional CAGR is expected to exceed 13.6% from 2022 to 2030. Adding to this, increasing government initiatives to develop innovative and connected infrastructure signifies market growth