Global IoT Testing Market

The Internet of Things (IoT) market consists of sales of IoT and related services that are used in building and home automation, smart energy and utilities, connected logistics, smart retail, smart mobility, and transportation. The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. The main platform of Internet of Things (IoT) are device management, application management and device management. The process of managing the implementation, operation, and maintenance of a physical and/or virtual device is known as device management The various application include building and home automation, smart energy and utilities, smart manufacturing, connected logistics, smart retail, smart mobility and transportation, others that are used by BFSI, retail, government, healthcare, manufacturing, transportation, IT and telecom, among other end user industries. The global IoT market size is expected grow from $326.90 billion in 2021 to $402.72 billion in 2022 at a compound annual growth rate (CAGR) of 23.2%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The Internet of Things market size is expected to reach $926.61 billion in 2026 at a CAGR of 23.3%. The application of IoT in various industries such as automotive industry is driving the growth of the IoT market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control and data delivery at any transportation point. Major companies like Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient and more enjoyable driving experiences. According to UBS, 12% of the total cars sold in 2030 will be for autonomous taxi fleets with 26 million driverless taxis in operation worldwide, approximately. The concerns with data security impact the growth of the IoT market. The rate of data intrusions is also increasingly growing with the advances in technology. IoT systems are being newly built and often have loopholes that can help the hacker to easily enter the system, serving as a major obstacle to the growth of the market for IoT sensors, since enterprise data protection is of great importance when designing analytical solutions for many vertical applications. Ransomware and denial-of-service attacks (DoS attacks) will continue to rise and be among the most common cybersecurity threats. Therefore, the data security issues limit the growth of the IoT market. The IoT devices collect a great deal of data of all types. Managing this data and analyzing it will help maximize its value for the company. Data analytics will help in analysis of IoT data in several areas such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). In 2020, major cloud vendors such as Amazon, Microsoft and Google, are increasingly using data analytics for business improvement and various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value and make informed decisions from the increasing data volumes. In August 2019, Vodacom, a South Africa-based cellular and accessory provider for individual and business customers, acquired IoT.nxt for an undisclosed amount. This deal will significantly accelerate Vodacom’s IoT strategy and transform its dedicated IoT business unit. IoT.nxt, a South Africa based company, focuses on delivering innovative software and hardware solutions for the Internet of Things (IoT). Major players in the IoT market are Cisco Systems, Inc., Microsoft Corporation, Oracle Corporation, International Business Machine (IBM) Corporation, Google Inc., Hewlett-Packard Enterprise, Amazon Web Services Inc., Bosch Software Innovation GmbH, Huawei Technologies, Intel Corporation, AT & T Inc., Hitachi Data Systems, General Electric, Bright Wolf, C3 IoT, Carriots, Concirrus, Connio, Cumulocity, Davra Networks, Device Insight, EVRYTHNG, Exosite, Autodesk SeeControl, BlackBerry, Accenture PLC, Alcatel-Lucent, Fujitsu Ltd., Dell Inc., PTC Inc., and SAP SE. Asia Pacific was the largest region in the IoT market in 2021. North America was the second largest region in the IoT market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the IoT market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global IoT market is segmented - 1) By Platform: Device Management, Application Management, Network Management 2) By End-Use Industry: BFSI, Retail, Government, Healthcare, Manufacturing, Transportation, IT and Telecom, Others 3) By Application: Building and Home Automation, Smart Energy and Utilities, Smart Manufacturing, Connected Logistics, Smart Retail, Smart Mobility and Transportation, Others

The IoT in manufacturing market consists of sales of IoT enabled systems, devices and software in the manufacturing industry. The Internet of Things in manufacturing market offers IoT-based solutions such as quality management, predictive maintenance, supply chain management and others with the help of IoT based systems and devices that enable interaction among machines, devices, and things in real-time. IoT in manufacturing includes IoT solutions in logistics and supply chain optimization, production flow monitoring, security and safety and others. The main components of IoT in manufacturing are solution, platform and service. The various services offered include managed services, professional services that are used for network management, data management, device management, application management and smart surveillance. The applications, tools, and processes used to provision, operate, maintain, administer, and secure network infrastructure are referred to as network management. The overarching role of network management is to ensure that network resources are available to users in an efficient, effective, and timely manner. The IoT manufacturing in different platform such as device management platform, application management platform, connectivity management platform that are used for process optimization, predictive maintenance, asset management, workforce management, emergency and incident management, logistics and supply chain management and inventory management. The industry verticals involved are energy and utilities, automotive, food and beverages, aerospace and defense, chemicals and materials, high-tech products and healthcare. The global IoT in manufacturing market size is expected to grow from $172.27 billion in 2021 to $209.44 billion in 2022 at a compound annual growth rate (CAGR) of 21.6%. The change in the IoT in manufacturing market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $397.86 billion in 2026 at a CAGR of 17.4%. Increasing need for customized products are expected to benefit the IoT in manufacturing market, as they enhance capabilities of manufacturers in discovering innovative ways to create customized products. Customers focus on tailor-made products lead to increase in demand for shorter manufacturing time. Companies in the industry are being pressurized to deliver enhanced and innovative products at a faster pace. Internet of things is one of the technological enablers for digitally transforming manufacturing and facilitating manufacturers to manufacture products in shorter duration. For instance, Harley-Davidson leveraged IoT to reform its manufacturing facility in York, Pennsylvania which helped the company to significantly reduce the time of producing a motorbike from a 21-day cycle to six hours. Industrial and commercial refrigeration equipment and transportation manufacturers are increasingly integrating IOT technology and customizing products to enhance utility. Aircraft Manufacturers such as Airbus SE, ATR, Bombardier Inc., Embraer SA, and The Boeing Company are integrating IoT technologies to their products to minimize production costs. The increasing data breaches and security concerns the adoption of latest technologies, limiting the growth of IoT in manufacturing market. The growing adoption of IoT devices in industries is expected to increase the number of IoT security threats. Gartner predicts that the security threat in IoT devices is high that around 25 percent of attacks in enterprises will involve IoT and the spending on its security is estimated to reach $547 million. For instance, around 1,935 data breaches and 42,068 incidents were confirmed in the Verizon’s data breach investigations report and no business or industry is 100% safe when it comes to the compromise of data. The increasing use of Digital Twins implemented by manufacturing companies in providing IoT solutions is gaining traction in the IoT in manufacturing market. Digital Twin is a merge of virtual and physical world to create digital copies of an industrial product that can be used to run simulations prior to its manufacturing and deployment. Digital twins support industry 4.0 solutions such as automated root cause analysis, predictive maintenance, predictive quality, supply chain optimization, and inventory intelligence in the manufacturing industry. The technology enhances the accuracy of predictive AI applications, increases efficiency and safety of IoT solutions, optimizes production processes, and enables companies to have digital foot print of their product from its design stage to the deployment stage. It is estimated that more manufacturers will adopt this approach in the near future. For instance, GE developed digital-twin technology internally for its jet-engine manufacturing process which resulted in providing efficiency and expertise to customers to operate the engine. The IoT in manufacturing market is governed by the Federal Communications Commissions (FCC) that regulates the functioning of this market in the United States. The regulatory body also lays down certain rules for equipment testing, authorization and marketing of such devices, and also mandates compliance to these rules. The FCC Regulations and the California Senate Bill 327 break the split of regulations for the security of Internet of Things (IoT) devices. According to the California Senate Bill 327, manufacturer of any connected device should provide the device with reasonable security feature(s) to safeguard personal information from modification, unauthorized access, disclosure, destruction or use. According to the FCC regulations, companies in the manufacturing sector should formulate solutions for minimizing noise and interference among IoT devices. For example, FCC regulations exempt those digital devices that do not connect to the AC grid and operate below 1.705MHz. Major players in the IoT in manufacturing market are Microsoft Corporation, SAP SE, Bosch Software Innovations GmbH, IBM Corporation, Cisco Systems, General Electric, Huawei, PTC Incorporation, Zebra Technologies, Siemens AG, Rockwell Automation, Wind River, Schneider Electric, Clearblade, Mocana, Impinj, Uptake, PalleTech, ELMODIS, Water.IO, SensEye, ARCSTONE, SupraControl, Zebra Technologies, Software AG, Texas Instruments, Hitachi Ltd., Konux and Robert Bosch GmbH The regions covered in the IoT in manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the IoT in manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global IoT in manufacturing market is segmented - 1) By Component: Solution, Platform, Service 2) By Vertical: Energy and Utilities, Automotive, Food and Beverages, Aerospace and Defense, Chemicals and Materials, High-Tech Products, Healthcare 3) By Platform: Device Management Platform, Application Management Platform, Connectivity Management Platform 4) By Application: Process Optimization, Predictive Maintenance, Asset Management, Workforce Management, Emergency and Incident Management, Logistics and Supply Chain Management, Inventory Management Subsegments: 1) By Service: Managed Services, Professional Services 2) By Solution: Network Management, Data Management, Device Management, Application Management, Smart Surveillance

The IoT sensors market consists of sales of IoT sensors and related services that are used in healthcare, automotive, transportation, manufacturing and other industrial sectors. The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. The main type of IoT sensors are temperature sensors, pressure sensors, humidity sensors, flow sensors, accelerometers, magnetometers, gyroscopes, inertial sensors, image sensors and others. Temperature sensors help in monitoring the temperature of a ship to log it automatically. The IoT sensors are applied across various areas such as building automation, industrial application, automotive application, healthcare application, retailing & logistics application, security application, agriculture application, other applications and used in healthcare, automotive and transportation, manufacturing/ industrial, others. The global IoT sensors market size is expected grow from $5.79 billion in 2021 to $6.20 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The IoT sensor market is expected to reach $8.11 billion in 2026 at a CAGR of 6.9%. The application of IoT in automotive and transport sectors is a key factor driving the growth of the IoT sensors market. The introduction of IoT in the automotive industry has opened up new opportunities for carmakers and consumers worldwide. With industrial and commercial use, IoT has become a popular hotspot for varied multifunctional applications in the automotive sector. IoT offers enhanced communication, control, and data delivery at any transportation point. For instance, the companies like Mercedes-Benz, Volkswagen, Volvo, Toyota and Google Inc. are increasingly investing in developing smart cars with rich features that offer healthier, more convenient and more enjoyable driving experiences. The driverless vehicles are likely to dominate the industry by 2030 according to NASDAQ estimates. Therefore, the application of IoT in automotive and transport industries is expected to drive the growth of the IoT sensors market. The data security concerns are a key factor hampering the growth of the IoT sensors market. The rate of data intrusions is also increasingly growing with the rising technology. IoT systems are being newly built, and safety requirements are lacking, this serves as a major obstacle to the growth of the market for IoT sensors, since enterprise data protection is of great importance when designing analytical solutions for many vertical applications. For instance, a group of researchers from Ruhr University Bochum in Germany identified a security problem in the common messaging apps WhatsApp which could allow hackers to spy on private group chats. According to Forbes, in 2021, 97% of the firms are impacted by a cybersecurity breach in their supply chain and 93% of them suffered a direct cybersecurity breach. Therefore, the data security concerns are expected to limit the growth of the IoT sensors market. The artificial intelligence is a key trend in the IoT sensors market. Artificial intelligence is the basic ingredient required to process the huge amount of data gathered these days, and to maximize its value for the company. AI will assist IoT data analysis in the following areas, such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). In 2020, based on their AI capabilities, the major cloud vendors, including Amazon, Microsoft and Google, are increasingly looking to succeed. Various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value from their ever-increasing data volumes. In August 2019, Vodacom, a South Africa based company, cellular and accessory provider for individual and business customers looking for quick and fast service acquired IoT.nxt for an undisclosed amount. This deal will significantly accelerate Vodacom’s Internet of Things (IoT) strategy and transform its dedicated IoT business unit. IoT.nxt, also a South Africa based company, focuses on delivering innovative software and hardware solutions for the Internet of Things (IoT). Major players in the IoT sensors market are Texas Instruments, TE Connectivity, NXP Semiconductors, STMicroelectronics, TDK Corporation, Infineon Technologies, Omron, Honeywell, Sensata Technologies, and Broadcom. Asia Pacific was the largest region in the IoT sensors market in 2021. North America was the second-largest region in the IoT sensors market. The regions covered in the IoT sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the IoT sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global IoT sensors market is segmented - 1) By Product Type: Temperature Sensors, Pressure Sensors, Humidity Sensors, Flow Sensors, Accelerometers, Magnetometers, Gyroscopes, Inertial Sensors, Image Sensors, Others 2) By Application: Building Automation, Industrial Application, Automotive Application, Healthcare Application, Retailing and Logistics Application, Security Application, Agriculture Application, Others 3) By End-User Industry: Healthcare, Automotive and Transportation, Manufacturing / Industrial, Others

The IoT security market consists of sales of Internet of Things (IoT) security devices/ software and related services. The IOT security is a technological area that provides solutions for safeguarding smart devices, networks, other connected devices and centralized user hubs from unwanted manipulation. This industry includes establishments that provide security solutions to counter IoT security threats such as remote vehicle hijacking, privacy leaks, brute force attacks on passwords and others. The main types are network security, endpoint security, application security, cloud security, and others. Network security is a designed set of rules and configurations, used to protect the integrity, confidentiality and accessibility of computer networks and data using both software and hardware technologies. The IoT security components are solutions and services. The various applications of IoT security are healthcare and life sciences, infrastructure and cities, industrial systems and sensors, smart home and consumer, and transport and urban mobility. The global Internet of Things security market size is expected to grow from $3.86 billion in 2021 to $5.09 billion in 2022 at a compound annual growth rate (CAGR) of 31.7%. The change in the IoT security market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $15.06 billion in 2026 at a CAGR of 31.2%. The emergence of smart city concept is the driving force for the rise in demand for IoT Security. As the population is growing, the need for sustainable development is of more important. Smart cities are well equipped with handling high traffic, population control, and better security for people. The execution for such a task can be done by installing IoT Devices in the smart cities. This involves connecting devices to one another, exchange data in a secured manner, forming a pattern and then providing a final solution. The remotely connected CCTV and automated incident detection (the use of computers to continuously monitor traffic conditions and detect incidents or traffic queues) allow a quicker response to threats. IoT led crowd management solutions help monitor and manage crowds of people across all sorts of gatherings. Smart street lighting helps to lower crime rates and improve driving conditions. This rising demand for security in the smart cities increases investment in the IoT Security Market. For instance, as on 12 November 2021, Indian Central Government released ? 27,235 crore ($ 3.67 billion) to States/Union Territories for the Smart Cities. Lack of awareness regards the importance of IoT security and risk mitigating measures among the people may hinder the IOT security market growth. The IoT security service providers are impacted due to the lack of awareness as there are instances where the IoT devices have been attacked by malicious software and viruses. Installing an IoT device does not simply solve the problem of security concerns. For instance, according to a survey conducted by Trend Micro, IT Security firm, 86% of IT and security decision makers across the globe believe that their organizations need to enhance their awareness of IoT threats. Furthermore, the survey stated that lack of awareness makes the organization fall and lead to thefts and data breach. According to another survey conducted by Dynatrace, a software company, consumers continue to see a significant risk in IoT device security where two-thirds of them have encountered performance issues with potential risk. The increasing usage of block chain technology in order to protect data of IoT devices, enhance transparency and security, reduce costs, and increase efficiency is a new trend in the IoT Security market. Block chain is a distributed decentralized ledger and underlying technology of bitcoin (a cryptocurrency) which is shared database (can be saved, owned, updated at different levels), not managed by central authority, comprising secure transactions, authenticated and verifiable. The block chain technology is integrated into IoT networks to provide additional privacy and security. It helps in reduction of processing time and cost, records transactions of all connected IOT devices, ensures tracking connected devices, coordinates these devices and aid smooth transaction process, provides efficiency to compliance issues, avoid re-entries, data leakages and frauds, minimize time to settle losses and ensures cryptographic security. For instance, Atonomi provides IoT security solution to IoT developers and manufacturers with block chain based immutable identity and reputation tracking. In 2019, according to a survey by Gemalto, a digital security firm, the adoption of block chain technology to help secure IoT data, services and devices in the IoT sector doubled from 9% to 19%. The European Telecommunications Standards Institute (ETSI), a Technical Committee on Cybersecurity (TY Cyber) released a first globally applicable standard for consumer IoT security, ETSI TS 103 645, so as to keep a security baseline for all internet-connected consumer products and provide a basis for future IoT certification schemes. This standard state that the IoT devices must make it easy for consumers to delete their personal data when there is a transfer of ownership. The standard also requires the implementers to stop using universal default passwords as it may lead to a large number of security issues. It also allows the security researchers to report any kind of security flaw in the IoT device. In June 2020, Microsoft Corporation, a USA based technology company that develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services acquired Cyber X, Inc. for $165 million. This acquisition will expand Microsoft Corporation Azure IoT security offerings, including Azure Sentinel, to cover devices in a variety of industrial settings. Cyber X, Inc, a USA based Computer & Network Security company. Major players in the IoT security market are Cisco, IBM, Intel, Infineon, Symantec Corporation, Check Point Security Software, Gemalto, AT&T Inc., Alcatel-Lucent S.A, Allot, Fortinet, Mocana, Securithings, Centri, Armis, Forgerock, Newsky, PTC Inc., Verizon Enterprises Solutions, Trustwave, Siemens AG, Wurldtech Security, Axeda Machine Cloud, Huawei Technologies Co. Ltd, NETCOM On-Line Communication Services, Sophos, NSIDE Secure and ARM Holding. The regions covered in the IoT security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the Internet of Things security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global IoT security market is segmented - 1) By Type: Network Security, Endpoint Security, Application Security, Cloud Security, Others 2) By Application: Healthcare and Life Sciences, Infrastructure and Cities, Industrial System and Sensors, Smart Home and Consumer, Transport and Urban Mobility 3) By Component: Solution, Services

The wireless internet services market consists of sales of wireless internet services and related products that offer internet access services over wireless communication network to consumers and businesses. Wireless Internet service is a form of internet service, which offers wireless connectivity. The main types of wireless internet services are community hotspots and public hotspots. Community hotspots are open access networks that provide internet access to citizens in public places such as downtown. The services are applied for education, financial services, healthcare, hospitality, retail, telecom and IT, transportation, others by enterprises, communication service provider and network operators, government institutions. The global wireless internet services market size is expected to grow from $596.42 billion in 2021 to $650.03 billion in 2022 at a compound annual growth rate (CAGR) of 9%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The wireless internet service market is expected to reach $879.80 billion in 2026 at a CAGR of 7.9%. The government initiatives aiming at developing infrastructure is a key factor driving the growth of the wireless internet services market. With growing government initiatives and environmental campaigns taking center stage, technology providers and specialists have actively started simulating creative solutions based on technical modules for the design and growth of urban infrastructure in several regions. For instance, in India, the successful execution of smart city projects is heavily dependent on technologies such as data connectivity, cloud, mobility, and sensors, all shaping IoT together. According to the Ministry of Electronics and IT, the government has increased the outlay for the digital India program by 23% to 3,958 crores for 2020-21 compared to actual allocation in the current fiscal. The increase has been mainly on account of incentives to be given for electronic manufacturing, research, and development, development of manpower for the segment, cybersecurity, and promotion of IT and IT-enabled services. Therefore, government initiatives for smart city projects is expected to drive the growth of the wireless internet services market. The security and privacy concerns are hampering the growth of the wireless internet market. With an increase in the number of devices, many security and privacy concerns have emerged and every source, gateway, sensor, and smartphone has become a potential hacking target. Any disruption to business processes can have a huge effect on the company as a whole. Connecting to free public Wi-Fi raises business risks caused by third party interception of client data because hackers are able to position themselves between the employees who use the Wi-Fi and the point of contact. Hackers can also use an unsecured Wi-Fi connection to spread malware, getting compromised apps on the computers and devices will make the company financially disruptive. Therefore, the security and privacy concerns are expected to hinder the growth of the wireless internet services market. The companies in the wireless internet services market are increasingly implementing Li-Fi (Light Fidelity) technology to improve their service offerings. Li-Fi or light fidelity uses light signals to transfer data between devices and produces a greater range than Wi-Fi, with transmission speeds of up to 224 gigabits per second. Smart homes will rely on Li-Fi technology in the future because it is faster and more reliable as light cannot penetrate through walls, and the signal cannot be compromised from a remote location. For instance, Oledcomm is releasing a robust Network for LiFi optical wireless networking solutions for B2B & B2 G in 2020. With the launch of LiFiMAX in 2019, the Internet of High Speed via Invisible Light, Oledcomm is expanding its global leadership in LiFi. In April 2019, AirTies, a provider of managed in-home Wi-Fi solutions acquired Technicolor's for an undisclosed amount. The acquisition of Technicolor's talented team further scales AirTies software development and management capabilities to meet the increasing demand for Smart Wi-Fi. Technicolor's, a Paris based company, Wi-Fi Management Software Business. Major players in the wireless internet services market are Cisco Systems, Inc., Huawei Technologies Co. Ltd., ARRIS International, Aerohive Networks, Singtel, Rogers Communications, Telstra Corporation, Viasat, ADTRAN, Aruba, Extreme Networks, Fujitsu, Superloop, iPass, Arista Networks, Ubiquiti Networks, Fortinet, Riverbed Technology, 4ipnet, Edgecore Networks, Mist Systems, ALE International, Allied Telesis, LANCOM Systems, D-Link Corporation, Cigniti, Cognizant, Capgemini, Cavisson Systems, Tricentis and Boingo Wireless, Inc. The regions covered in the wireless internet services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the wireless internet service market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global wireless internet services market is segmented - 1) By Type: Community Hotspots, Public Hotspots 2) By Application: Education, Financial Services, Healthcare, Hospitality, Retail, Telecom and IT, Transportation, Others 3) By End-User: Enterprises, Communication Service Provider and Network Operators, Government

The fiber optic connectors market consists of sales of fiber optic connectors by entities (organizations, sole traders, and partnerships), which are high-speed connectors used for public telecommunication networks and wiring installations. A fiber optic connector is a flexible device that can connect and disconnect fiber optic cable quickly. Only goods and services traded between entities or sold to end consumers are included. The main products of fiber optic connectors are SC (standard connectors), LC (lucent connectors), FC (ferrule connector), ST (straight tip), MTP/MPO (multiple-fiber push-on/pull-off), MXC connector and others. ST connectors are optical fibre connectors that terminate the end of an optical fibre cable and allow for faster connection and disconnection. The various cables used are simplex, duplex, multi-fiber for telecommunication, inter/intra building, community antenna television, datacenter, high-density interconnection, security systems and other applications. The global fiber optic connector market size is expected to grow from $4.53 billion in 2021 to $4.88 billion in 2022 at a compound annual growth rate (CAGR) of 7.7%. The change in the fiber optic connectors market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $6.38 billion in 2026 at a CAGR of 7.0%. The number of people using smart devices and smartphones and commercialization of 4G LTE and 5G network platforms is rapidly increasing, which will drive the growth of the global fiber optic connectors market. For instance, in January 2020, the numbers of smartphone users in the world were 3.50 billion, accounting for 45.12% of the world’s population. According to the Global Mobile Suppliers Association (GSA), 5G subscriptions were 17.73 million by the end of 2019, and 4G base were at 5.27 billion. Smart devices are the everyday gadgets, which are made intelligent with advanced computing, including AI and machine learning, and networked to form the internet of things (IoT) that require the internet. The increased use of smart devices and commercialization of 4G LTE and 5G network platforms increased the demand for the fiber optic connectors market. The high installation costs of fiber optic connectors have always been a major challenge in the fiber optic connectors market. The factors impacting fiber-optic internet installation prices are sufficient to power, service provider companies, telecommunication closets space. For instance, the installation cost of fiber optic cable installation would be $15,000 to $30,000 for a house with 100 to 200 drops. The high costs for the installation of fiber optic connectors are limiting the growth of the fiber optic connectors market. The innovation of 180-micron fiber cable is shaping the fiber optic connectors market. In April 2020, Prysmian Group announced the world’s first 180µm fiber cable for FTTx and 5G networks. Prysmian combines the two technologies to start its sirocco extreme microduct cable with 288 fibers in a diameter of 6.5mm, providing diameter and fiber density for a blown microduct cable of 288 fibers. With a fiber thickness of 8.7 fibers per mm2, it is possible to install the cable into an 8mm ID duct where before it was only possible to install up to 192 fibers. This makes it feasible to install more fibers into full duct space and allows the use of smaller ducts for new installations, rising in cheaper installation costs and the use of less raw materials. In December 2021, Samtec., a US-based electronic interconnect company acquired Ultra Communications, Inc. for an undisclosed amount. The acquisition will strengthen and expand Samtec’s fibre optic product offering for mil/aero and harsh environment application. Ultra Communications, Inc. is a US-based manufacturer of high-speed digital and RF fiber optic components. Major players in the fiber optic connectors market are 3M, Corning Cable Systems LLC, Hitachi Ltd., ZTE Corporation, Amphenol Corporation, Alcatel-Lucent S.A., Broadcom Limited, Hirose Electric Co. Ltd, Furukawa Electric Co. Ltd, Sumitomo Electric Industries, Diamond SA, TE Connectivity Ltd., Sterlite Optical Technologies, Extron Electronics, Optical Cable Corporation and Ratioplast-Optoelectronics GmbH. The Asia Pacific was the largest region in the fiber optic connectors market in 2021. The regions covered in the fiber optic connectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the fiber optic connectors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global fiber optic connectors market is segmented - 1) By Product: SC (Standard Connectors), LC (Lucent Connectors), FC (Ferrule Connector), ST (Straight Tip), MTP/MPO (Multiple-Fiber Push-On/Pull-Off), MXC Connector, Others 2) By Cable: Simplex, Duplex, Multi-Fiber 3) By Application: Telecommunication, Inter/Intra Building, Community Antenna Television, Datacenter, High Density Interconnection, Security Systems, Others

IoT Enabled Healthcare Equipment Market Definition

The biotechnology services market consists of the sales of biotechnology services and related goods by entities (organizations, sole traders and partnerships) that engage in conducting research and experimental development in biotechnology. Only goods and services traded between entities or sold to end consumers are included. The main types of biotechnology services are prevention and disease control, public engagement activities, health education and research, food biotechnology services, donor recruitment, tissue collection, cell processing and isolation, and research and development. Food biotechnology services encompass a diverse variety of technologies used in crops, livestock, forestry, fisheries and aquaculture, and agro-industry. They are used for a variety of purposes, including genetic improvement of plants and animals to increase yields or efficiency, characterization and conservation of genetic resources for food and agriculture, plant and animal disease diagnosis, vaccine development, and fermented food production. The various applications include pharmaceutical, biotechnological, academic, clinical trial, and healthcare sectors and are used by Clinical Research Organizations (CROs), Contract Manufacturers Organizations (CMOs), and Contract Research and Manufacturing Services (CRAMS). The global biotechnology services market is expected to grow from $129.14 billion in 2021 to $151.10 billion in 2022 at a compound annual growth rate (CAGR) of 17.0%. The growth in the biotechnology services market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biotechnology services market is expected to reach $267.29 billion in 2026 at a CAGR of 15.3%. The increasing pervasiveness of conditions like hepatitis B, diabetes and cancer is driving the research in biotechnology. Biotechnology uses research tools from biology and chemistry to study the genetic material of bacteria and viruses to check the disease-producing agent. Oncology research is most prominent among biopharma companies. Stem cell treatment, using a monoclonal antibody for therapy and genome sequencing is progressing in medical applications. According to the Indian Economic Survey 2021, in 2019, the Indian biotechnology business was worth US$ 64 billion, and it is predicted to grow to US$ 150 billion by 2025. Global R&D spending by the world's largest publicly traded biotech companies increased 13.7 percent each year, from $4.8 billion in 2001 to $55.0 billion in 2020. Therefore, the rising pervasiveness of diseases and huge expenses on R&D is predicted to contribute to the growth of the biotechnology services market. The risk related to genetic data is anticipated to limit the growth of the biotechnology services market. The biotechnological approach of transferring specially created genes for modification in characteristics to create genetically modified organisms (GMOs) has always been considered a threat to human and environmental health. According to the report of the World Conservation Union, there are numerous environmental risks likely to occur by the use of GMOs, which include interbreeding, antibiotic resistance, impact on the ecosystem, creation of new or worse viruses, competition with natural species, unpredictable and unintended effects and ethical concerns. The World Health Organization (WHO) has also set guidelines for manufacturers of GMO food. The National Bioengineered Food Disclosure Standard has been implemented in the USA from January 2020 making it mandatory to label all foods containing genetically engineered items to be labeled as ""bioengineered"". Thus, the risk associated with genetically modified items is negatively impacting the growth of the biotechnology services market. Collaborations and partnerships between industry players are a growing trend in the field of biotech services. In Dec 2019, Interpace Pharma, a subsidiary of Interpace Biosciences, dealing in pharmacogenomics testing, genotyping and biorepository services, collaborated with Genecast Biotechnology Co. Ltd for jointly developing, promoting, and offering translational studies and clinical trial solutions to the industry. This partnership is expected to benefit pharmaceutical and biotech companies to accelerate their biomarker-driven drug development and precision medicine. Genecast is a Chinese company providing a wide range of diagnostic services to pharmaceutical and biotech companies. In October 2021, Amgen, a US-based biopharmaceutical company acquired all outstanding shares of Teneobio for a deal amount of $2.5 billion. Amgen acquired Teneobio's bispecific and multispecific antibody technologies as part of the acquisition. These solutions complement the company's existing antibody expertise and BiTE platform. This will aid in the discovery and advancement of novel molecules for the treatment of a wide range of illnesses in Amgen's major treatment areas. TeneoBio is a US-based biotechnology business that specialises in the production of human heavy chain antibodies. Major players in the biotechnology services market are Novartis, Fisher BioService, Pfizer, Novo Nordisk, BioAlps, Precision for Medicine, Sartorius and Aldevron. Asia Pacific was the largest region in the biotechnology services market in 2021. North America was the second largest region in biotechnology services market. The regions covered in the biotechnology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the biotechnology services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global biotechnology services market is segmented - 1) By Service: Prevention and Disease Control, Public Engagement Activities, Health Education and Research, Food Biotechnology Services, Donor Recruitment, Tissue Collection, Cell Processing and Isolation, Research and Development 2) By Industry: Clinical Research Organizations (CROs), Contract Manufacturers Organizations(CMOs), Contract Research and Manufacturing Services (CRAMS) 3) By Area of Application: Pharmaceutical, Biotechnological, Academic, Clinical Trial, Healthcare Sectors