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The hardware segment remains the cornerstone of the industrial IoT market, holding the largest market share and expected to maintain this position through 2029. With the market projected to grow from USD 194.4 billion in 2024 to USD 286.3 billion, hardware solutions are a primary driver of this growth.

Decades of development in industrial automation and sensor technology have resulted in a diverse array of existing hardware solutions tailored for IIoT deployments. Components such as sensors, processors, connectivity integrated circuits (ICs), and memory devices are essential for a wide range of industrial applications, providing specialized functionalities that cater to unique operational needs.

For instance, advanced sensors equipped with machine learning capabilities can monitor equipment health in real-time, predicting potential failures before they occur. This predictive maintenance approach minimizes downtime and reduces repair costs, providing significant return on investment for organizations.

Additionally, the increasing integration of artificial intelligence (AI) and machine learning (ML) into hardware solutions is enhancing their capabilities. Smart devices can now analyze data on-site, allowing for faster decision-making and improved responsiveness to operational changes.

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As industries continue to embrace IIoT technologies, the demand for specialized hardware will remain strong. The emergence of new technologies, such as 5G, further enhances the capabilities of IIoT hardware, enabling faster data transmission and connectivity. This continued emphasis on hardware development not only drives market growth but also enables organizations to implement effective IIoT solutions that enhance operational efficiency and productivity.

The Anti drone sector is witnessing remarkable growth, with a current valuation of USD 2.16 billion in 2024 projected to reach USD 7.05 billion by 2029, reflecting a robust CAGR of 26.7%. This expansion is primarily driven by increased government expenditures on counter-drone technologies, coupled with a growing number of security breaches linked to unauthorized drones.

Within this framework, the commercial sector is expected to lead growth, achieving a staggering CAGR of 30.0%. As organizations recognize the importance of protecting their assets from drone incursions, anti-drone systems are becoming essential tools for safeguarding airports and other critical infrastructure. The rising accessibility of drone technology has necessitated the development of effective countermeasures in both public and private sectors.

Hybrid anti-drone systems are anticipated to command the largest market share by 2029. These systems leverage the strengths of multiple technologies—such as electronic detection, kinetic disruption, and laser targeting—creating a comprehensive defense mechanism against drone threats. Ground-based anti-drone solutions, which utilize advanced technologies like radar and infrared sensors, will also play a critical role in maintaining airspace security.

Additionally, laser systems are projected to grow at an impressive CAGR of 29.5%. Their ability to deliver rapid, precise responses to emerging threats has made them a valuable asset in the anti-drone arsenal, capable of neutralizing UAVs without harming surrounding infrastructure.

The report "Retimer Market by PCIe (PCIe 1.0, PCIe 2.0, PCIe 3.0, PCIe 4.0, PCIe 5.0, PCIe 6.0), CXL, USB, SATA, HDMI, ThunderBolt, Ethernet, DisplayPort Interfaces, Servers, Storage Devices, Accelerators, Workstations, Routers, Gaming PCs - Global Forecast to 2029" The global retimer market is projected to reach USD 1,022.2 million by 2029 from USD 613.6 million in 2024; it is expected to grow at a CAGR of 10.7%.

The major drivers for the retimer market include rising demand for high-speed data transmission, the surging requirement for improved signal integrity, and the growing adoption of cloud computing owing to data centers expansion. Some emerging factors of the growth include the increasing implementation of edge computing and the growing use of retimer technology in automotive and industrial IoT applications. Technical hurdles in retimer deployment across high-speed data environments, and performance degradation due to compatibility issues are expected to be restraining factors for the retimer market. The availability of alternative solutions that are used for the same functions and regulatory and compliance related challenges are expected to create challenges for the retimer market. The rapid increase in Ethernet usage because of the need for faster and more reliable network connections, is also a significant factor driving the adoption of retimers. Retimers help improve signal quality, which is essential for high-speed Ethernet applications. The expansion of telecommunication infrastructure in emerging markets such as BRICS nations is also an important factor driving the growth of the retimer market.

CXL interface retimer segment to grow at a significant CAGR during the forecast period.

CXL interface retimers are expected to grow at a significant CAGR during the forecast period, driven by their applications in Al and ML. They enable direct memory access between devices, help bypass the CPU, and reduce the latency. This feature is beneficial for data-intensive workloads like Al and ML technologies. In Al workloads, CXL enables faster data processing by allowing GPUs to access large datasets stored in memory without the latency typically associated with traditional memory management techniques. They restore and equalize signals, compensating for jitter and channel frequency loss. This capability ensures that the data transmitted remains accurate and reliable in high-speed data applications.

Server application segment to grow at a significant CAGR between 2024 and 2029.

The server application segment is expected to grow at a significant CAGR during the forecast period due to rising demand for enhancing signal integrity and enabling high-speed data transfer. One of the primary functions of retimers in server applications is to enhance signal integrity across high-speed data paths. As server architectures evolve to support faster data transfer rates, such as those defined by PCIe 5.0 and PCIe 6.0, the need for robust signal conditioning becomes critical. With the ability to maintain low latency—often adding only minimal delay—retimers facilitate efficient communication between CPUs, GPUs, and other peripherals, making them essential for modern data centers that demand robust performance for applications such as AI and large-scale data processing.

Retail segment to grow at a significant CAGR during the forecast period.

The retail end user segment is attributed to grow with a significant CAGR in the forecast period. The retail sector has changed in recent years on the wheel of the fast adoption of digital technologies and e-commerce platforms. While retailers are increasingly dependent on high-speed data transmission for a wide range of applications, demand for retimers increases consequently. They have major functions in maintaining the integrity and reliability of data signals, which is important in ensuring seamless operations across online and brick-and-mortar stores, among other retail channels.

Asia Pacific region is likely to grow at a significant CAGR during the forecast period.

The Asia Pacific region is projected to grow at a high CAGR during the forecast period due to various drivers across its countries. China is home to retimer manufacturers such as Montage Technology, Saidi Semiconductor (Shenzhen) Co., Ltd., and Linkreal Co., Ltd. The manufacturers of such retimers in China continually engage in research and development to come up with sophisticated retimers that are used in data centers and cloud computing. The Indian government's Digital India initiative, through which the country is trying to become the powerhouse of digitization, is attracting increased investments in data centers, cloud computing, and high-speed networks, hence enabling faster adoption of retimers.  The demand for retimers in Japan is being driven by the rapid growth experienced within data centers due to a huge demand for cloud computing and big data analytics. Data centers, as they proliferate, raise the demand for high-speed, reliable data transmission solutions; hence, it makes such a device indispensable as a retimer.

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Some of the key players in the retimer market include Astera Labs, Inc. (US), Broadcom (US), Marvell (US), Renesas Electronics Corporation (Japan), Texas Instruments Incorporated (US), Parade Technologies, Ltd. (Taiwan), Intel Corporation (US), Diodes Incorporated (US),  Microchip Technology Inc. (US), Montage Technology (China), Rambus (US), Semtech Corporation (US), Phison Electronics (Taiwan), Nuvoton Technology Corporation (Taiwan) and Kandou Bus SA (Switzerland).

The report "AI Vision Marketby Vision Software (API, SDK), Vision Platform, Behavioral Analysis, Optical Character Recognition, Spatial Analysis, Image Recognition, Heatmap Analysis, Machine Learning, Deep Learning, CNN, Generative AI – Global Forecast to 2029" The global AI vision market is expected to reach USD 43.02 billion in 2029 from USD 14. 85 billion in 2024, at a CAGR of 23.7% during the forecast period.

Al vision market is expanding during the forecasted period, driven by the increase in employment of machine learning and generative Al in multiple verticals. In healthcare, machine learning and generative Al provide the ability to improve the diagnostic accuracy of imaging and the use of data for patient monitoring. For In-store and e-commerce solutions, retailers have also adopted Al vision solutions for better inventory management and personnel shopper experience. In logistics and transport, Al Vision Solutions is adapted to focus on the real-time monitoring and automation of systems. Al Vision Solutions also helps monitor work sites and manage job sites in the construction sector. Thus, the rising demand for these technologies in various verticals is driving the Al vision market.

The image recognition segment is expected to have the largest market share in the forecast period.

The image recognition market is poised for the largest market share due to its ability to automate and streamline visual data analysis across industries. Technologies like Amazon Rekognition enhance efficiency in tasks such as security and retail management. Growing demand for AI-driven solutions and advancements in machine learning are driving this expansion. The technology’s versatility makes it highly valuable for diverse applications, fueling its widespread adoption and growth.

The machine learning segment is dominating in AI vision market.

The market for machine learning is projected to hold the dominant position within the Al vision space, as this type of technology allows systems to learn and improve in real-time from large amounts of visual data. The technology improves the accuracy of visual analysis, automates complex tasks, and removes humans from the process entirely (e.g, object detection and facial recognition). The recent improvements in deep learning and convolutional neural networks, along with machine learning's capability to expand the function of Al vision technology in general, are leading to substantially more industrial applications of Al vision technology in sectors including healthcare—manufacturing, retail, and security.

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US in the North America region to dominate the AI vision market during the forecast period.

The Al vision market in the US is positioned to be the leading part of North America due to significant federal investment, considerable technological innovation from the major tech companies, and the advancement of Al research and development. The establishment of several new Al Research Institutes and the commitment to funding for Al manufacturing all contribute to the US government's intent of advancing Al technology. The full spectrum of federal opportunities helps encourage collaboration among academia, Industry, and government and sustains tremendous growth in the US to facilitate growth for the Al vision market.

Key players

The AI vision market includes significant Tier I and II players like NVIDIA Corporation (US), Microsoft Corporation (US), Intel Corporation (US), Alphabet Inc. (US), Amazon.com, Inc. (US), IBM (US), Oracle (US), Cognex Corporation (US), Qualcomm Technologies, Inc. (US), STMicroelectronics (Switzerland) are some of the key players in the AI vision market.

The laser technology market is set to expand from USD 20.0 billion in 2024 to USD 29.5 billion by 2029, with a CAGR of 8.0%. This growth is driven by the increasing use of laser technology in healthcare, automotive manufacturing, and industrial automation. The rising demand for high-precision laser-based applications in medical treatments and automotive production processes is a key factor propelling market growth.

Solid lasers are forecast to achieve the highest growth rate in the laser technology market. They are increasingly being used in medical procedures that require precision, as well as in industrial applications such as additive manufacturing and LiDAR systems. The reliability, cost-effectiveness, and efficiency of solid lasers have made them the preferred choice in numerous high-tech industries.

The moving configuration segment is anticipated to grow rapidly during the forecast period. This configuration is particularly popular in applications requiring precise control of laser beams, such as engraving, welding, and laser cutting. The flexibility and versatility of moving configurations, coupled with advancements in motion control technology, have led to their growing adoption in industries like automotive and aerospace.

Laser technology's application in optical communication remains a dominant force in the market. As global data consumption grows, the need for high-speed, high-bandwidth communication networks becomes critical. Laser-based optical communication systems are essential for the transmission of data over long distances, supporting the development of advanced telecommunications networks.

The telecommunications vertical is expected to hold the largest market share in the laser technology industry. The increasing use of smartphones, IoT devices, and streaming services is driving demand for faster, more reliable data transmission solutions. Laser technology plays a pivotal role in fiber-optic communication systems, positioning it as a cornerstone in the rapidly expanding telecommunications sector.

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The Rest of the World (RoW) region, particularly South America, GCC countries, and Africa, is forecast to experience strong growth. Economic diversification, industrial development, and increasing healthcare spending are contributing to the region's rising demand for laser technology across various sectors.

Key market players include Coherent, Trumpf, Han’s Laser, IPG Photonics, and Jenoptik AG.

The Digital Thread Market is projected to grow from USD 11.42 billion in 2024 to USD 36.81 billion by 2030, with a CAGR of 21.5%. The increasing need for IoT, enhanced product quality, and regulatory compliance are key factors driving this growth. Additionally, AI advancements, Industry 4.0, and sustainability trends are pushing industries to adopt digital thread technologies for optimizing operations and decision-making.

The digital thread industry relies heavily on Product Lifecycle Management (PLM), which ensures the seamless integration of data across various stages of a product’s life. PLM enables real-time collaboration, enhances decision-making, and ensures regulatory compliance, making it an essential tool for maintaining the integrity and efficiency of the digital thread.

The automotive industry continues to lead the charge in adopting digital thread technology, utilizing it to create a continuous flow of information from vehicle design to maintenance. By improving supply chain management, quality control, and collaboration, the digital thread is helping automotive manufacturers achieve greater efficiency and innovation.

Cloud-based digital thread solutions are gaining popularity due to their scalability and cost-effectiveness. These solutions offer real-time data integration and advanced analytics, providing industries with a flexible and efficient way to manage complex digital thread systems. Their robust security features also ensure compliance with industry regulations.

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North America holds the largest share of the digital thread market, driven by the region's early adoption of IoT, AI, and cloud technologies. The region’s vast industrial base, including aerospace, automotive, and pharmaceutical sectors, is driving demand for digital thread solutions that enhance efficiency and quality control.

Prominent players in the market include PTC (US), IBM (US), Siemens (Germany), and Rockwell Automation (US), all of whom are leading the charge in digital thread innovation and development.

The report "Digital Thread Marketby Technology (PLM, SLM, CAD, MES, IoT, ERP, edge computing, Digital Twin, ALM, SCADA), Module (Data collection, Data management & Integration), Deployment, Application, Vertical, Region - Global Forecast to 2030" The Digital Thread Market is expected to reach USD 36.81 billion by 2030 from USD 11.42 billion in 2024, at a CAGR of 21.5% during 2024–2030. The significant growth factor associated with the digital thread market is increasing demand for IoT and connected devices, the need for enhanced product quality and efficiency, and stringent regulatory compliance requirements. Advancements in AI and machine learning, trends toward customization and personalization, the rise of Industry 4.0, and a focus on sustainability also drive adoption. These elements make digital threads essential for optimizing operations, improving decision-making, and supporting agile, efficient, and sustainable production processes across various industries.

The Product lifecycle management (PLM) technology segment contributed highest market share in 2023.

Product Lifecycle Management is the most influential field in the Digital Thread industry, as it is a fundamental means of e-management for all stages of a product's life, from conceptualization and design to production chain, maintenance, waste management, and final processing. PLM solutions combine data, processes, and business systems to make possible the smooth coordination among departments and stakeholders.

This will be critical in ensuring continuity and integrity of the digital thread, as it allows for real-time access to data, better decision-making, and quality products. Additionally, PLM enforces compliance to regulatory standards, optimizes resources, and time-to-market; thus, it is also an important building block toward adopting and ensuring the success of a digital thread.

Automotive segment expected to dominate the digital thread market during the forecast period.

The digital thread is increasingly used in the automotive industry to create a seamless flow of information throughout the entire lifecycle of a vehicle-from design and engineering to manufacturing, operation, and maintenance. In this industry, the digital thread connects various stages of production, ensuring that all data is integrated and accessible in real time.

This connection enhances design collaboration, production efficiency, supply chain optimization, quality control, and life cycle management. The complexity of the sector, the requirement for increased integration, and the emphasis on innovation and quality make digital threads vital, resulting in automotive supremacy in the digital thread market.

Cloud-based deployment segment contributed highest market share in 2023.

The cloud-based digital thread segment leads the market due to its scalability, cost-effectiveness, and flexibility, which allow organizations to easily scale up and expand. They provide remote and collaborative cloud solutions, real-time data integration, and powerful analytics and AI toolkits. They also have robust security and compliance capabilities, making them great options for managing complex digital threads most efficiently and cost-effectively.

North America accounted for the largest share of the digital thread market in 2023.

North America includes the United States, Canada, and Mexico. The region has the largest share of the digital thread market owing to the early adoption of advanced technologies such as loT, Al, and cloud computing indispensable to deploying digital thread solutions. Innovation and technology-driven industries have a very high concentration in the region, and this encourages the use of digital threads. Added to that, the huge industrial and manufacturing base- aerospace, automotive, pharmaceuticals- continuously keeps demand high for digital threads given enhancements to be achieved in efficiency, quality, and integration of complex processes.

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The report profiles key players such PTC (US), IBM (US), Siemens (Germany), Dassault Systemes (France), Rockwell Automation (US), Autodesk, Inc. (US), Oracle (US), AVEVA Group Limited (UK), SAP (Germany), General Electric (US), Accenture (Ireland) and others.

The Battery Energy Storage System market is on track to grow from USD 7.8 billion in 2024 to USD 25.6 billion by 2029, at a CAGR of 26.9%. The global shift toward renewable energy is significantly boosting the need for effective energy storage solutions. Another critical driver is the rise of electric vehicles (EVs), which are increasing the demand for robust battery energy storage systems to support charging infrastructure and manage peak grid loads.

Flow Batteries: A Game-Changer in Energy Storage

Flow batteries are emerging as a leading solution in the BESS market, particularly for large-scale applications. Their scalable design allows for easy adjustments in storage capacity, making them a popular choice for grid and residential energy needs. Their ability to be recharged using liquid electrolytes rather than solid-state materials gives them an edge over traditional battery technologies like lithium-ion.

Off-Grid Systems: Securing Energy Independence

Off-grid BESS systems are gaining popularity, particularly in remote and rural areas where access to the power grid is limited or unavailable. These systems offer energy independence, lower operational costs, and reduce reliance on fossil fuels. As the demand for reliable, off-grid renewable energy systems grows, so will the market for off-grid BESS solutions.

Asia Pacific Leading the Way

The Asia Pacific region is poised for significant growth in the battery energy storage sector. Fast-growing industrialization and increased power demands, coupled with government incentives for renewable energy adoption, are creating a favorable environment for BESS development in the region.

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Top Market Players

Key players include BYD, Samsung SDI, LG Energy Solution, Panasonic, and Tesla, who continue to lead innovations in the battery energy storage industry.

The report "FPGA Market by Configuration (Low-end FPGA, Mid-range FPGA, High-end FPGA), Technology (SRAM, Flash, Antifuse), Node Size (≤16 nm, 20-90 nm, >90 nm), Vertical (Telecommunications, Data Center & Computing, Automotive) & Region - Global Forecast to 2029" The FPGA market is projected to grow from USD 12.1 billion in 2024 and is estimated to reach USD 25.8 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.4% from 2024 to 2029.

The growth of the FPGA Industry is driven by the growing utilization of Artificial Intelligence (AI) and Internet of Things (IoT) technologies across diverse applications, incorporating FPGAs into advanced driver assistance systems (ADAS), and the rising count of data centers and facilities for high-performance computing (HPC).

By node size, the ≤16 nm is projected to grow at a high CAGR of the FPGA industry during the forecast period.

The high growth of the ≤16 nm FPGA can be attributed to its compact size and speedy processing abilities. FPGAs with ≤16 nm node size boast higher logic density than conventional FPGA devices. These FPGAs are tailored to handle high-bandwidth workloads such as high-performance computing (HPC), artificial intelligence (AI), and machine learning. In addition, these FPGAs can eliminate the standard performance issues that affect traditional FPGA devices available in the market. These FPGAs come at a higher cost and have a more limited supply chain. They boast features such as high-speed transceivers and specialized IP cores.

Flash technology in the FPGA industry is expected to have the highest CAGR during the forecast period.

Flash-based FPGAs utilize non-volatile flash memory for configuration data storage, ensuring resilience and data retention during power cycling. Their advantages include non-volatility, lower power consumption, increased reliability, and inherent security features like encryption. Flash-based FPGAs find applications in embedded systems with infrequent reprogramming needs, cost-sensitive applications, low-power devices, and security-critical scenarios. Their cost-effectiveness and security features make them attractive for various applications, ranging from industrial controllers to security-sensitive environments.

The Data Center & Computing segment is projected to experience the highest CAGR in the FPGA industry over the forecast period.

The data center & computing is projected to be the fastest-growing vertical from 2023 to 2028. This growth is attributed to the increasing number of data center facilities worldwide. For instance, in May 2023, Scala Data Centers (Brazil) launched the second-largest vertical data center in Latin America, the 6MW IT SGRUTB05, located in the Tamboré Campus, São Paulo state, Brazil. The facility demonstrated Scala's strategy to accommodate significant IT infrastructure growth securely. FPGAs are ideal for compute-intensive workloads in data center applications. As a result, establishing new data centers will provide market opportunities for FPGA providers in the future.

Asia Pacific is poised to have significant growth in the FPGA industry by 2029.

The FPGA industry in the Asia Pacific region is experiencing significant growth, primarily fueled by the telecommunications sector's rapid advancement in 5G technology. China and Japan are leading in 5G deployment, closely followed by India, driving the demand for FPGAs. The APAC market is driven by the telecom sector's high-speed internet needs and the increasing demand for advanced network infrastructure. With their reprogrammable nature, FPGAs are well-suited for the complex data processing tasks associated with 5G applications, making them crucial in this evolving landscape. As per GSMA's "The Mobile Economy Asia Pacific 2023" report, the anticipated economic contribution of 5G to the Asia Pacific region in 2030 stands at a significant USD 133 billion, comprising over 13% of the total economic influence of mobile technology.

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Top Companies in FPGA industry - Key Players

Key companies operating in the FPGA industry are Advanced Micro Devices, Inc. (Formerly Xilinx, Inc.) (US), Intel Corporation (US), Microchip Technology Inc., (US), Lattice Semiconductor Corporation (US), Achronix Semiconductor Corporation (US), QuickLogic Corporation (US), and FlexLogix (US), among others.

Climate change is having a profound impact on various industries, and the HVAC sector is no exception. As global temperatures rise and weather patterns become more unpredictable, there is an increasing demand for HVAC systems that can efficiently provide both heating and cooling. The HVAC industry is adapting by developing systems that are not only energy-efficient but also resilient to extreme weather conditions.

The global HVAC System Market size is expected to be valued at USD 281.7 billion in 2024 and is projected to reach USD 389.9 billion by 2029 and grow at a CAGR of 6.7% from 2024 to 2029. The market is experiencing growth driven by an increasing demand for energy-efficient and sustainable buildings. This demand spans residential, commercial, and industrial properties, driven by the need for climate control and comfortable indoor air quality. Climate change is also intensifying the requirement for both cooling and heating systems.

Designing for Extreme Temperatures

As temperatures become more extreme, HVAC systems are being designed to operate efficiently in a wider range of conditions. This includes advancements in heat pump technology, which allows for efficient heating in colder climates and effective cooling in hotter regions. Systems are also being equipped with adaptive technologies that can respond to changing environmental conditions.

Energy Management and Sustainability

Climate change is driving the adoption of sustainable energy solutions, and the HVAC industry is at the forefront of this shift. The use of renewable energy sources, such as solar and geothermal, in HVAC systems is becoming more prevalent. These systems not only reduce reliance on fossil fuels but also offer significant cost savings over time.

Resilience to Power Outages

Extreme weather events, such as storms and heatwaves, can lead to power outages, posing challenges for HVAC systems. The industry is addressing this by developing systems that can operate on backup power sources, such as batteries or generators, ensuring continuous operation during power disruptions.

The Shift Towards Decarbonization

Decarbonization is a critical focus for the HVAC industry as it seeks to reduce its environmental impact. This includes the development of refrigerants with lower global warming potential (GWP) and systems that use less energy while providing the same level of comfort. The shift towards decarbonization is also being supported by government regulations and incentives aimed at reducing greenhouse gas emissions.

The HVAC industry is evolving in response to the challenges posed by climate change. By developing systems that are energy-efficient, resilient, and capable of operating in extreme conditions, the industry is helping to mitigate the effects of climate change while providing reliable climate control solutions for buildings around the world.