Global e-cigarette market is forecasted to attain a value of $70 billion by 2023, The growth in the market will be led by factors such as increasing demand for smokeless and ashless vaping and surge in the number of vape shops and designated stores.
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The e-cigarette market can be broadly categorized into cig-a-like, vaporizer, vape mods and t-vapor product types. The market for t-vapor is projected to witness the fastest growth, of around 45%, during the forecast period. T-vapor is comparatively a new category that uses real tobacco. T-vapor products are sold in two versions: heat-not-burn and infused. Cig-a-like can further be categorized into disposable and rechargeable types, while vaporizer can be segmented into open tank and closed system types.
The major channels of distribution are vape shops, supermarkets, online, and tobacconists. Among these channels, vape shops are estimated to generate the highest revenue for the e-cigarette market in 2017.
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Asia-Pacific is the region offering ample growth opportunities for the vendors. Large population coupled with increasing urbanization has been propelling the demand in the region. China has been the forerunner in the regional e-cigarette industry, with an estimated 40.3% share in 2017. After the U.S. and the U.K., China is estimated to be the third largest e-cigarette market globally in 2017, which is further expected to grow during the forecast period.
On the basis of a survey conducted by the Chinese Center for Disease Control and Prevention in 2014, 45% of students aged 13–15 years had heard of e-cigarettes and 1.2% had used them in the preceding 30 days. It has been observed that for every 1% consumer shift from combustible cigarettes to its less harmful counterpart, the market for latter in the country increases by almost $5 billion. Advertisement campaigns have been educating the consumers about the benefits of switching from combustible cigarettes to its less harmful alternative, consequently driving the e-cigarette market in the country.
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The e-cigarette market is fragmented, and the top three players are estimated to account for over 60% of the total market share in 2017. British American Tobacco is the market leader, followed by Imperial Brands and NJOY. All the players in this industry do not offer all types of e-cigarettes; for instance, Philip Morris International offers t-vapor products but not cig-a-likes. Similarly, Imperial Brands offers cig-a-likes and vaporizers but not t-vapors. However, with the existing product differentiation, a state of uncertainty prevails among the players in the market, as a shift in consumer taste can alter their share in the market.
The smartwatch market is expected to reach $43.8 billion by 2023, registering a CAGR of 22.7% during the forecast period.
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The market has been thriving in the mobile technology space, which can be attributed to the increasing awareness on personal health and fitness and the rise in smartwatch-controlled automotive capabilities. The smartwatch market is categorized into three types: extension, classic, and standalone; of which the standalone category is projected to witness highest growth during the forecast period.
Apple’s watch software watchOS has grown by leaps and bounds since its introduction and left many smartwatch OS behind with its competency in innovation. Due to this, the iOS category has been contributing the highest revenue in smartwatch market since 2015 and is predicted to maintain its strong hold during the forecast period as well. Moreover, high sales of Apple smartwatches have fueled the overall market growth on the back of brand popularity and presence of other rudimentary devices with incompetent features.
During the forecast period, smartwatches based on another OS, such as Tizen and proprietary OS, are expected to grow the fastest. In the recent past, other types of smartwatch OS, such as Samsung’s Tizen, have taken over Google’s Android Wear, which has restructured the global smartwatch market. Besides, massive sales of Samsung Gear S3 have escalated the company’s interest in investing more in the development of smarter standalone smartwatches, which clearly asserts a strong growth of this market in the near future.
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Geographically, North America, being a key target region for prominent companies (like Apple and Samsung) for the introduction and sale of their products, is a higher revenue generator than any other region in the world. Brand loyalty and consumer status in North America have largely helped companies in cashing in consumer behavior and interest toward the adoption of smartwatches.
One of the major opportunities for the growth of smartwatch market lies in the design and development of gender-specific smartwatches by market players. Many women, particularly from the sports and corporate domains, have shown great interest in the adoption of a smartwatch as a replacement to their traditional watch, in the recent past. However, unisex offerings by companies often feature male-oriented designs, making them less popular among women.
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Some of the key players operating in this market are Apple Inc., Garmin Ltd., Fitbit Inc., Sony Corporation, Samsung Electronics Co. Ltd., Lenovo Group Limited, TomTom International BV, ASUSTeK Computer Inc., LG Electronics, and Alphabet Inc.
The global cold chain RFID market is expected to grow at a CAGR of 29.1% during 2016-2022. Among the various products, the tags segment accounted for largest share in the global cold chain RFID market in 2015.
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The software and services product segment is expected to witness a considerable growth during the forecast period. The growing demand for real time temperature monitoring in cold chain logistic is expected to boost the growth of the global cold chain RFID market during the forecast period.
The RFID technology in cold chain is used for tracing and tracking contents, location expiration, and manufacture dates. The data gathered by RFID can be transmitted to the authorities. The food and beverages segment accounted for the largest market share in the global cold chain RFID market in 2015. The pharmaceutical and biomedical segment is expected to witness growth at the fastest rate during the forecast period, owing to the increasing demand of RFID in pharmaceuticals cold chain supply from developing countries, such as India and China. The growing global fisheries import and export is laying ample opportunities for the growth of the cold chain RFID market. The stringent government mandates for food safety has led to the requirement of specific humidity, temperature, and light requirements while handling food, beverages,and pharmaceuticals products.
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The producers, transporters, distributors, and warehouse operators are now forced to keep the entire supply chain details for these products. The stringent regulations in developed countries has also forced the major pharmaceuticals, food and beverages exporter countries in Asia-Pacific to follow the mandates, as it is applicable for the entire supply chain. This is driving the growth of the cold chain RFID market in Asia-Pacific.
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Some of the major companies operating in the global cold chain RFID market include Alien Technology, Checkpoint Systems Inc., Impinj Inc., Nedap N.V., RFID4U (eSmart Source, Inc.), Invengo Technology BV, GAO RFID Inc., Avery Dennison Corporation, and Sato Holdings Corporation.
The global outdoor lighting market is likely to grow at a CAGR of 8.4% during the forecast period. Outdoor lighting refers to the use of outdoor illumination of private gardens and public landscapes for the improvement and determinations of security, nighttime aesthetics, convenience and safety. Various types of lighting sources being utilized for outdoor lighting includes LEDs, fluorescent lights, HID lamps and plasma lamps. Among various types of lighting sources, LEDs enable outdoor lighting with exceptional benefits of higher efficiency and environment safety.
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Increasing demand for energy-efficient lighting solutions across the globe, modernization and development of infrastructures such as smart cities, reduction in the prices of LEDs, and increasing penetration of LEDs as a light source in various outdoor lighting applications, including streetlights, parking lots and tunnel lights, are the major factors likely to bolster the growth of the market during the forecast period.
HID lamps have been the largest contributor of outdoor lighting. However, market for LEDs are expected to register the highest growth during the forecast period. HID lamps are rapidly being replaced by LEDs owing to the strong government support for the safety of environment. In addition, the slow growth rate for HID lamps market is due to several disadvantages of the lamps, such as longer time to cool down and restrike when power is disrupted, and consuming some time to warm up while starting.
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Considering the market, on the basis of technology, lighting fixture segment is likely to spearhead the technology category, with higher revenue contribution. However, lighting control technology segment is expected to register faster growth during the forecast period. The adoption of control technology is increasing with LEDs lighting due increase in functionality with giving comfort, security and flexibility to lighting solutions.
Geographically, Asia-Pacific has been the largest market for outdoor lightings. The gravity center for the outdoor lighting market has clearly moved to Asia, in particular for chips and epiwafers, and also for packaged lighting sources. The supply chain structure of outdoor lighting sources consists of product design, product manufacturing and marketing & sales. In Asia-Pacific, most of the companies operating in this market are involved in product designing and product manufacturing for the companies operating in other regions. However, most of the non-Asian companies are in charge of marketing and sales. For example, European companies are active in designing and marketing and sales and often outsource manufacturing in Asia. Being a manufacturing hub for outdoor lighting sources, Asia-Pacific contributed the largest to the global outdoor lighting market. Further, it is also expected to witness fastest growth globally, during the forecast period. The high growth is expected due to the region being major hub for manufacturing and distribution of LED based lighting systems, and a major exporter of energy efficient lighting solutions, globally.
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Some of the major players in the global outdoor lighting market include Philips Lighting Holdings, General Energy Connections, Osram Licht, Hubbell Incorporated, Cree Inc, Eaton Corporation, Syska LED, Virtual Extension, Dialight Plc, Zumtobel Group AG.
The electricity meters (smart meters) market is growing at a significant rate due to rapid industrialization, increasing penetration and growing need for energy efficiency. Favorable regulatory conditions and increasing smart grid initiatives are supporting the smart meters market growth in the coming years. The stringency in regulation towards usage of smart meters began with North America and Europe, and they are also expected to become applicable in Asia-Pacific in the coming years.
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Asia-Pacific is expected to lead the smart meters market during the forecast period on account of increasing demand from emerging economies such as China and India. China is spending heavily on smart grids involving meter installations. Rising urbanization and increasing demand for electric vehicles in the country are providing opportunities to the smart meters market to grow in the coming years. The various ongoing activities in China to upgrade the meters, transmission systems, distribution networks, and generating capabilities are supporting the smart meters market growth in the country.
The increasing electricity demand in the emerging regions such as Middle East and Africa, and Latin America are providing ample growth opportunities to the smart meters market to grow in such regions also. The regions are also adopting advanced technologies to accomplish their energy security needs. The American Recovery and Reinvestment act of 2009 comprises various initiatives including smart grid demonstration program, and smart grid investment grant program. Such programs has enabled the U.S. smart meters market to grow by a significant rate in the coming years.
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Some of the advantages of smart meters are real time data feeds, automated outage detection, two way communication medium between utility and meters, enhanced accuracy and monitoring of power quality. Electricity distributed by distributed generation (DG), such as wind and solar generation, to the grid is measured with the help of smart meters. The devices are connected to electronic data management and consumer system with the help of communication broadcasting technologies such as meter-bus and ZigBee. Rising growth of machine-to-machine technology in industrial and residential sector is supporting the growth of the smart meters market.
The smart meters market can be categorized on the basis of applications as commercial, residential, and industrial. Residential application dominates the smart meters market due to increase in population, particularly in BRIC countries. Home energy management system is simplified by using smart metering which is supporting the usage of smart meters in residential sector. Energy can easily be managed in residential sector by using load variable tariffs and time-of-use tariffs. The need for energy installations and energy efficiency is increasing due to rising urbanization which gives rise to various production activities and industries.
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The major competitors in the smart meters market are Delixi Group Co. Ltd., Schneider Electric SA, Itron Inc., Jiangsu Linyang Electronics Co., Ltd., Holley Metering Ltd., General Electric Co., Siemens AG and Landis+Gyr Inc. Consumer preference towards electric vehicles are supporting the smart meters companies to some extent. Furthermore, increasing demand of smart meters from Asia-Pacific region and energy efficiency awareness programs is also contributing to product penetration of companies operating in smart meters.
Embedded systems refer to, application-specific combination of electronic hardware and software for meeting the specific demand(s) of the system in which they are embedded. Surge in the demand for smart electricity meters in mainly the developing countries of Asia Pacific and South America had driven the embedded system market in the recent years.
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The rising demand for smart meters is also expected to continue over the coming years, attributed to the government initiatives towards energy efficiency and electrification in the rural areas of developing countries, such as India and China. Moreover, some of the further factors, such as technological advancement coupled with falling prices of inputs materials, like microcontroller and microprocessor units have also created a positive impact on the growth of the embedded system market in the recent years.
Based on the different products, the global embedded system market can be broadly classified as embedded hardware, and embedded software. Based on the different applications of the embedded system the global embedded system market can be segmented as automotive, consumer electronics, healthcare, telecommunication, industrial, homeland security and military, and aerospace.
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Automotive was the largest market, among all the application segment of the embedded system market in 2014. The market dominance of the automotive applications is expected to sustain during the forecast period. The various applications of embedded system in the automotive sector are used for engine control, safety and security, infotainment, and others. The growth of this application in passenger cars of even lower priced variants is expected to boost the embedded systems market during the forecast period. Moreover, the rise in demand of Hybrid Electric Vehicles (HEV) and Electric Vehicles (EV) is also a considerable growth factor for the embedded system market in automotive application.
North America dominated the embedded system market in 2014. North America is also expected to continue with its market dominance in the embedded system market over the next five years. The Asia Pacific market is expected to be the fastest growing market over the forecast period. The high growth of the Asia Pacific market is attributed to emergence of automotive industry in the developing countries, such as India and China. Taiwan and China are some of the leading players of the embedded system market in this region.
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Some of the competitors in the global embedded system market are Altera Corporation, Atmel Corporation, Intel Corporation, Freescale Semiconductor, Inc., Mentor Graphics Corporation, Microsoft Corporation Inc, Microchip Technology Inc., Texas Instruments, ARM Holdings Plc, Zilog Inc., Eldos Corporation, Codethink Ltd., Infineon Technologies, SSV Software Systems GmbH, NXP Semiconductors, STMicroelectronics, SSV Software Systems GmbH, HCL Technologies Limited, Tieto Deutschland GmbH, Infosys Limited, Renesas Electronics Corporation, and Samsung Electronics Corporation.
The electric motor and generator market has witnessed considerable technological advancement in the recent years due to which the demand for high efficient electric motor and generator system is gaining pace. The power efficient electric motors offer various benefits, such as longer operating life, low maintenance, and lower energy consumption over traditional electric motors.
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The improvement in energy efficiency of electric motors increasing demand of electric motor and generator from agricultural and industrial sector, growing application of HVAC system, and rising demand of electric and hybrid vehicle are some of the major drivers of the electric motor and generator market in the recent years.
Based on the output current, the global electric motor and generator market can be broadly classified as AC electric motor and generator, DC electric motor and generator, Synchronous AC Motor, and Induction AC Motor. Further based on the output power, AC generators can be classified, as electric motors (less than 37.5 watts), AC generators (less than 75 kVA), AC generators (75-375 kVA), AC generators (375-750 kVA), and AC generators (more than 750 kVA). Based on the output power, DC generators and motors market can be classified as DC generators and motors (output 75-375 kW), and DC generators and motors (output more than 375 kW).
Based on the different applications of electric motor and generator the market can be classified as industrial machinery, heating ventilating and cooling (HVAC) equipment, motor vehicles, aerospace and transportation, household appliances, and other application.
Asia Pacific has been the largest and fastest growing market of electric motor and generator in 2014. Asia Pacific region is expected to maintain its dominance even during the forecast period, attributed to the rising demand of electric motor and generator from automotive, and other industrial sector from China and India.
Country wise, the U.S. and Canada dominate the electric motor and generator market in North America. France, Germany, the U.K., and Italy, are some of the major players in the European electric motor and generator market. China, Japan, India, and South Korea are some of the leading regions in the Asia Pacific electric motor and generator market.
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Some of the competitors in the global electric motor and generator market are Asmo Co Ltd., Arc Systems, Brook Crompton, Danahar Motion LLC, Ametek Inc., Rockwell Automation, Franklin Electric Co., Inc., Siemens Ag, Johnson Electric Holdings Ltd., Ametek Inc., Allied Motion Technologies Inc., Baldor Electric Company, and Siemens among others.
Rising demand for faster, cost effective and efficient memory solutions have raised the need for next generation memory in recent times. The demand of advanced memory technologies have been rising with the increasing electronic gadget market and rising data storage requirement.
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The expanding market for tablets and smart phones is boosting mobile dynamic random access memory (RAM) market, owing to which the demand for next generation memory is also increasing. The incompatibility and poor performance of the traditional non-volatile memory solutions are further propelling the next generation memory marketsuch as MRAM, memristor, FeRAM and others.
Based on technology, the next generation memory market can be broadly classified into volatile memory and non-volatile memory. Memories which perform both volatile and non-volatile functions are known as universal memory. Volatile memory, also known as flash memory, stores data for temporary period and loses the data it when the computer is powered off. Most volatile memories unit has faster read-out capability than that of non-volatile memory. However, it has much smaller data storage volume than non-volatile memory.
The next generation memory finds application in smart cards, automotive electronics, mass storage, consumer electronics, mobile phones and others. Based on interface, next generation memory market can be categorized into SAS, SATA, PCIe, DDR and I2C. Owing to the characteristics, such as high data rates with lower power dissipation levels, of next generation memory, their importance in electronics and semiconductor industry is increasing. With respect to technology, high scalability and lower power consumption acts as major drivers for the next generation memory market.
North America dominates the next generation memory market; however, Asia-Pacific is witnessing strong growth owing to rising demand from countries such as Japan, China and South Korea.
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Some of the major companies operating in next generation memory market include, Fujitsu Ltd., SanDisk Corporation, Samsung Electronics Co., Ltd., The International Business Machines Corporation (IBM), SK Hynix Inc., Adesto Technologies Corporation, Inc., Micron Technology, Inc., Toshiba Corporation, Cypress Semiconductor Corporation, Winbond Electronics Corporation, Crossbar Inc., Avalanche Technology Inc., and Micron Technology Inc.
Sensors play a vital role in printed electronics. Continuous miniaturization of sensors, due to the development in sensor manufacturing technology, has raised the demand of printed and flexible sensors in various applications. Sensors detect alterations and change in parameters, in terms of quantities, in a device. Various companies dealing in printed electronics use printed and flexible sensors in their products. Printed and flexible sensors are generally used to measure optical or electric signals.
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The major application areas of printed and flexible sensors are healthcare electronics, breath sensing, consumer electronics, drug screening devices and smart packing. Printed and flexible sensors are small in size, light weight and cost-effective compared to conventional sensors. Printed and flexible sensors are also used in various healthcare and consumer electronics portable devices, owing to its light weight property as compared to conventional sensors.
On the basis of type, the printed and flexible sensors market can be categorized as piezoelectric, capacitive, gas sensors, piezoresistature sensors, digital x-ray sensors, hybrid CMOS sensors, temperature sensors, photodetectors, and biosensors. And based on technology, the printed and flexible sensors market can be categorized as ink-jet printing, gravure printing, screen printing and flexography.
Rapid growth in the end-user industries of printed and flexible sensors, low-cost manufacturing of printed and flexible sensors as compared to conventional sensors and performance benefits in terms of product life cycle and sensing efficiencies over conventional sensors are some of the major growth drivers for the printed and flexible sensors market.
Surging application of printed and flexible sensors in medical electronics devices, and considerable growth in Internet of Things (IoT) market, presents new market opportunity for the printed and flexible sensors market.
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Some of the competitors operating in the printed and flexible sensors market are GSI Technologies, KWJ Engineering, PolyIC, Vista Medical, Meggitt A/S, Arkema group, NikkoIA SAS, Tactonic Technologies, Electrozyme, Peratech, Synkera Technologies, DropSens, Tekscan, Thin Film Electronics, PST Sensors, BeBop Sensors, Temptime, Fujifilm Holding Corporation, Sensitronics, Interlink Electronics, ISORG, Plastic Electronic GmbH, and T-Ink.
The rising demand for power quality, increasing adoption of variable frequency by the end users, growing demand from IT and data centers, government regulations, and awareness regarding the potential damage from harmonic are some of the dominant factors driving the global harmonic filter market. Whereas, the forces restraining the growth of harmonic filter market include high cost, availability of substitute products and lack of consumer awareness about the harmonic suppression.
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Power quality problems generally occur due to propagation of harmonic frequencies in electrical systems. The excess of harmonic voltage and harmonic current in an electrical design leads to various harmful effects on the performance of transformer; and can also lead to failure of transformer. The most widely adopted harmonic limit standards are IEEE STD 519 (1992), AS/NZS 61000.3.2 (2007) and AS/NZS 61000.3.6 (2001).
The global harmonic filter market can be categorized on the basis of product type as hybrid harmonic filters, active harmonic filters, and passive harmonic filters. The types of passive harmonic filters include tuned passive harmonic filters and de-tuned passive harmonic filters. Hybrid harmonic filter is the combination of both active and passive harmonic filters.
Passive harmonic filter is used for static loads of an electrical installation and active harmonic filter is used to diminish the harmonics produced by variable loads. On the basis of voltage level, the harmonic filter market can be categorized as low voltage, medium voltage and high voltage harmonic filters. Based on end user industry of the global harmonic filter, the market can be categorized as data centers, oil and gas, industrial, water treatment, and automotive industry.
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North America was the largest market for harmonic filters in 2014. The market dominance of North America is attributed to high consumer awareness and stringent government regulation in the region. Asia-Pacific and Latin America are two of the fastest growing harmonic filter market and they are expected to witness even healthier growth in coming years.
The fast growth in these regions is attributed to development in power generation and distribution in developing countries, such as China and India. Brazil is one of the largest and fastest growing markets of harmonic filter in Latin America region. Germany, Italy, France, and the U.K., are some of the major harmonic filter market of Europe.
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Some of the competitors of harmonic filter market are Baron Power Ltd., Danfoss A/S, EPCOS AG, MTE Corporation, Schaffner Holding Ag, Eaton Corp Plc, Comsys AB, ABB Ltd., Crompton Greaves Ltd., Emerson Network Power, Inc., Janitza Electronics GmbH, Schneider Electric SE, and Siemens AG.