Global Wearable ECG Monitors Market Outlook: Ken Research

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Major players in the wearable ECG monitors market are Apple, GE Healthcare, Withings, Samsung, QardioCore, AliveCor, Fitbit, Welch Allyn, Philips Healthcare, and CardioNet.

The global wearable ECG monitors market is expected to decline from USD 1.58 billion in 2019 to 1.54 billion in 2020 at a compound annual growth rate (CAGR) of -2.68%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to stabilize and reach USD 1150.7 billion in 2023 at a CAGR of 30.67%.

The wearable ECG monitor market consists of sales of ECG monitors embedded with optical sensors and designed to be affixed to a limb of a human (patient) body to monitor physiological information anytime and anywhere. The market consists of revenues generated by establishments that are primarily engaged in the manufacturing of diagnostic wearable ECG monitors. An ECG records the tiny electrical signals that are generated by the beating of the patient's heart. An ECG provides data on the heart rate, the rhythm, the state of the conduction system and muscle tissue (heart attacks), and even the level of certain chemicals like potassium in the blood, and the effect of medication.

North America was the largest region in the wearable ECG monitors market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

Prolonged ambulatory rhythm monitoring is crucial for the diagnosis of intermittent arrhythmia. Conventional technologies for non-invasive rhythm monitoring include Holter monitoring or external cardiac event recorders. However, these traditional technologies have limitations in terms of low sensitivity, low diagnostic yield, and poor patient compliance. Although implantable cardiac monitors (ICMs) help in long-term monitoring, it is an invasive method as it requires minor surgery and is also associated with significant costs. Therefore there is an increasing demand for non-invasive ambulatory rhythm monitoring. Smart clothing technology is a novel, alternative tool for non-invasive ambulatory rhythm monitoring.

The wearable ECG monitors market covered in this report is segmented by type into wired, wireless, and by application into atrial fibrillation, angina, atherosclerosis, cardiac dysrhythmia, congestive heart failures (CHF), coronary artery disease, heart attack, bradycardia, tachycardia.

Wearable ECG monitors employ electrodes that contact the skin directly in order to monitor the health state and signal/trigger alarm to the care providers. However, currently, the requirement is the electrodes that are non-contact with the human body. This is because by using the electrodes that are in contact with the human body, the body's movement may be easily superimposed on the detected ECG signal, and for steady monitoring of the ECG signal, it is necessary to effectively remove the motion artifact from the ECG signal. Therefore, wearable ECG monitors employing electrodes in contact with the human body, and causing motion artifacts is likely to challenge the market.

BioTelemetry, Inc., the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce the cost of care, today announced that it has acquired ADEA Medical AB, an early-stage Swedish medical technology company that delivers remote health services in the Nordics. The acquisition is aligned with BioTelemetry's longer-term strategy to increase its international footprint and offer its products and services to physicians and patients in the Nordics and other parts of Europe.

With the increasing incidence of cardiovascular diseases (CVD), there has been a growing interest in developing wearable devices that can continuously monitor cardiac activity. According to American Heart Association statistical report (2018) on heart disease and stroke statistics, there are around 17.9 million deaths annually worldwide, and this number is expected to rise by about 23.6 million by 2030. CVD account for nearly 836,546 deaths in the US alone. Cardiovascular diseases that include abnormalities in heart rhythm such as atrial fibrillation, ventricular fibrillation, and atrioventricular block require long-term monitoring. Additionally, since the mortality rate is high in CVD patients, the need for wearable devices that enable continuous heart monitoring is critical. The increasing incidence of cardiovascular diseases is therefore driving the market for wearable ECG monitors for quick emergency response and earlier detection of heart malfunctioning.

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Global Wearable ECG Monitors Market

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Global Connected Medical Devices Market (By Product- Blood Pressure Monitors, Safety Monitoring Devices, ECG Monitors, Holter, Bipap And Others. By Devices- Wearable Medical Devices and Non-Wearable Medical Devices. By End-User- Clinics, Hospitals and Patient. By Application- Treatment Services, Remote Monitoring, Consultation and Diagnosis Services, Fitness and Wellness Services) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025

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Real Estate Market In Vietnam, Real Estate Industry In Vietnam: Ken Research

Key Trends in the Office Real Estate Sector in Vietnam

Transportation and utility infrastructure Improving: Vietnam has been investing to improve public utilities and infrastructure. Vietnam now has over 2000 Km of highways. Ho Chi Minh City is planning to launch a city wide metro network which will help travel between the CBD and other areas of the city. Various expressway projects are being planned or under construction to improve connectivity within major cities. Steps like these raise the moral of speculators and Investors who will start to invest in Vietnam Residential Market.

Young Homeowners: Population Rising: As of 2018, Vietnam has a population of over ~ Million people, a statistic which has grown at a CAGR of ~ % 2013-2018.

Among this population the number of working professional in the age group of 25-40 has increased at a CAGR of ~ %, People who are most likely to be the new sources of demand for the market.

How is Vietnam’s Hotel Real Estate MARKET Positioned?

Vietnam has become a tourist hotspot in recent years, with the number of international tourists growing at a rate of ~% from 2013-2018. With Business destinations such as Ho Chi Minh City and Hanoi and upcoming Tourist Destinations like Da Nang, Vietnam’s Hotel industry is sure to witness a boom in demand. The market is not only driven by foreign tourism but also by domestic travel. Both local and foreign tourism drive the demand for hotel rooms upward. As the disposable income continues to increase, domestic travelers seek better and more luxurious hotels. Additionally, foreign visitors, might be price sensitive, but still seek higher-end hotels when visiting Vietnam, whether for leisure or meeting-incentives-conference-exhibition (MICE) purposes.

Cities such as Da Nang and Hoi Phong, will serve as the next hubs for the tourism industry, so global brands will try to increase the presence in these cities to gain the early advantage, making the hotel market tin Vietnam highly competitive.

Key Trends in the Hotel Real Estate Sector in Vietnam

Rising number of Domestic Tourists: Vietnam has witnessed a rising influx of Domestic tourists as disposable income per individual increases. Vietnam recorded the presence of ~ million domestic tourists in 2018, while Ho Chi Minh City and Hanoi witnessed ~ million and ~ million domestic tourists in 2018. Vietnam is expected to increase this number to ~ million by 2025 which is a positive indicator for the industry.

Influx of Foreign Brands within Vietnam: Vietnam’s potential as a tourist hotspot has become clear to global hotel brands as is evident from the increase in number of branded operators from ~ in 2010 to ~ in 2018. Vietnam is putting in efforts to improve public infrastructure and tourism services, this makes hotel brands willing to invest in Vietnam.

Rising number of foreign tourists: Foreign Tourists in Vietnam have been increasing over the years. With ~ million foreign tourists in 2013, the number has grown to ~ million foreign tourists by 2018 at a CAGR of ~ %. This number is expected to rise to ~ billion by 2025. This showcases the strong demand pool for Hotels in Vietnam’s Hotel Market.

Key Segments Covered:-

Vietnam Office Real Estate Market

By Type:

Grade A Office

Grade B Office

Grade C Office

By Geography:

Vietnam

Ho Chi Minh

Hanoi

Vietnam Retail Real Estate Market:-

By Location:

CBD (Central Business District)

Non CBD (non central business district)

By Type:

Retail Podium

Department Store

Shopping Center

By Geography:-

Vietnam

Ho Chi Minh

Hanoi

Vietnam Residential Real Estate Market:-

By Type:

Apartments

Condominiums

Villas and Townhouses

By Geography:

Vietnam

Ho Chi Minh

Hanoi

Vietnam Hotel Real Estate Market:-

By Type:

3 Star Hotels

4 Star Hotels

5 Star Hotels

Others (Less than 3 Star Hotels)

By Geography:

Vietnam

Ho Chi Minh

Hanoi

Key Target Audience:-

Real Estate Developers

Independent Investors

Real Estate Consulting Companies

Third Party Real Estate Companies

Independent Architects

Government Associations

Government Agencies

Time Period Captured in the Report:-

Historical Period – 2013 - 2018

Forecast Period – 2019F – 2025F

Case Studies Covered:-

Vietcom Bank

Deutsches Haus

Diamond Plaza

Vincom Centre

Rever.vn

Emerge

Ohana.vn

For More Information on the research report, refer to below link:-

Vietnam Real Estate Market

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Australia Real Estate Market Outlook To 2023 – By Residential (Apartment & Villas), By Retail (Regional, Sub-Regional, Neighborhood, CBD, Large Format Retail And Others), By Office (Grade A, Grade B And Premium Offices) And By Hotel (3 Star, 4 Star, 5 Star And Other Hotels)

Singapore Real Estate Market Outlook to 2023 - By Residential Market (New Sales, Re-Sales and Sub-Sales), By Retail Market (Private and Public Retail Space), By Office Market (Private and Public Office Space) and By Hotel Market (Gazetted and Non-Gazetted Hotels)

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Global Car Pooling Market Research Report: Ken Research

 Major players in the car pooling market are Didi Chuxing, Dida Chuxing, Uber, Via Transportation, Lyft Line, Waze Carpool, Zimride, Carma, and Scoop Technologies.

The global carpooling market is expected to decline from USD 19.82 billion in 2019 to USD 16.10 billion in 2020 at a compound annual growth rate (CAGR) of -18.77%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 29.70 billion in 2023 at CAGR of 22.65%.

The carpooling market consists of sales of carpooling which is also known as shared mobility is the most technologically advanced transportation system that enables users to book a short distance ride as and when needed. The sales consist of revenues generated by establishments that are primarily engaged in the booking of the car by online carpooling platforms and app-based carpooling.

North America was the largest region in car pooling market in 2019.

Automobile manufacturers are increasingly venturing into mobility services to cater to the growing demand for car-pooling services. For instance, major automobile manufacturers, namely BMW and Daimler have merged their car-sharing ventures to expand geographically in 2018. Similarly, in February 2020, Tesla announced plans to launch ride-sharing application. Automakers investing in carpooling applications will contribute to the growth of the market.

The car pooling market covered in this report is segmented by type into online carpooling platforms, app-based carpooling. It is also segmented by application into businesses, individuals, schools, others.

Complex policies of different countries are anticipated to limit the expansion of the carpooling industry during the next coming years. Stringent policies encumber the businesses and bounds the carpooling players to function smoothly. For instance, in 2019 the Government of India (GOI) enforced guidelines to ensure that carpooling is a no-profit no-loss service in order to help the citizens with Odd-Even policy that has been introduced to reduce the carbon emission. The transport ministry of India issued guidelines for private car owners for ride-sharing, which mandates the KYC for users and limits the maximum number of rides taken per day to four. Therefore, the government guidelines drafted by various countries are projected to act as a major restraint for the growth of the carpooling market during the forecast period.

In June 2018, BlaBlaCar, a French online marketplace for carpooling acquired Beepcar for undisclosed amount. BlaBlaCar committed for a partnership to promote its carpooling services through Mail.Ru's various platforms, which include social networking sites, instant messaging, search engines, and ecommerce portals. BeepCar is the online service of search of fellow travelers on automobile trips developed by Mail.Ru Group.

Government initiatives to minimize the carbon emissions is likely to drive the carpooling market. Major metropolitan cities have traffic congestion with increase in the vehicle density on the roads, increasing the carbon emissions. For instance, cities such as New York, Seoul and Shanghai are among the top 10 cities with highest carbon foot print. In an attempt to curb the emission rates, governments and companies are encouraging car pooling to commute in the cities. In the Paris Agreement on Climate Change, countries have set determined targets for carbon footprint reduction by 2030. For instance, the Delhi government in India has introduced odd-even scheme to control the traffic density and keep a check on the carbon emission in the city. Corporates such as Amazon, Infosys are also encouraging car pooling to commute to workplaces to reduce the congestion and air pollution. The initiatives to keep a check on carbon emissions thereby contribute to the growth of the market.

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Global Car Pooling Market

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Global Wearable Medical Devices Market Outlook: Ken Research

 Major players in the wearable medical devices market are Philips, Polar Electro, Omron Corporation, Fitbit Inc., Garmin Ltd., Life Watch AG (Bio Telemetry Inc.), Xiaomi Inc., Vital Connect, Jawbone Inc., and General Electric Co.

The Global Wearable Medical Devices Market is expected decline from USD 8.87 billion in 2019 to USD 8.35 billion in 2020 at a compound annual growth rate (CAGR) of -5.83%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 16.08 billion in 2023 at CAGR of 24.39%.

The wearable medical devices market consists of sales of wearable medical equipment and related services that includes diagnostic devices and therapeutic devices like vital signs, sleep and neuro monitoring devices, electrocardiographs, pain management, respiratory therapeutic devices among others. The companies involved in wearable medical devices market design, manufacture and market medical wearables like watches, wristbands, clothing, ear wear and other devices for the applications like Remote Patient Monitoring, Ear wear, Home healthcare, Sports and Fitness which are designed for patient management and life-style disease management like prevention of diseases and maintenance of health with advantages such as weight control and physical activity monitoring.

North America was the largest region in wearable devices market in 2019. Europe is the second largest region in 2019.

Integrating artificial intelligence in the wearable medical devices is gaining traction. The data collected by the wearable medical devices lacks value without the integration of artificial intelligence (AI) that better utilizes the data collected. AI doctor which is an standalone network with deep learning algorithm performs well than trained medical practitioners in conditions like skin lesions, electrocardiograms, medical imaging and pathology. In 2020, Apple acquired Xnor.ai that develops technology like artificial intelligence to gain access for low-power AI tools for image recognition in wearables and others. A study published in 2019 revealed that AI and biometric monitoring devices are considered as an advantage by 47% of the respondents as it brings efficient healthcare to the patient and an overall of 20% respondents considered the benefits outweighed the dangers of artificial intelligence integration into wearables. 55% considered that it could improve their follow-up and quality of care, 23% believed it would reduce the cost of treatment. The wearable device app developers are increasingly focused on integrating AI into the apps to analyze the remotely collected data for better interpreting the ailment by an AI doctor.

The wearable medical devices market covered in this report is segmented by device type into diagnostic devices, therapeutic devices. It is also segmented by product type into watch, wristband, clothing, ear wear, other devices, by distribution channel into pharmacies, online channel, hypermarkets and by application into sports and fitness, remote patient monitoring, home healthcare, ear wear.

Wearable device manufacturers collect and store data to sell them to the customer itself by charging certain amount on monthly basis or periodically as per the requirement or to third-parties at places where this information is not considered as Protected Health Information. There is a higher exposure of sensitive data as the amount of data handled by Medical Internet of Things devices are growing exponentially. The major data privacy concerns arise during the transmission of data to a cloud and during its storage. In 2018, a study released by Center for Digital Democracy and the School of Communication at American University revealed that Americans are facing a growing loss of sensitive information with the use of wearable medical devices as the US health privacy regulatory system doesn't reach the expectation of data privacy with wearables. In 2019, a survey conducted for wearable device users revealed that half of the respondents are unaware of the privacy concerns related with the wearable devices. There are risks pertaining to the access and security of the personal information collected by the third-party healthcare service providers which is expected to hamper the growth of the market during the forecast period.

In 2019, Google, a US-based technology company that develops internet-related services and products like search engines, cloud computing, online advertisements, software and more, announced to acquire Fitbit Inc. for USD 7.35 per share in cash valuing totally to USD 2.1 billion. The deal will benefit both the companies by designing and manufacturing innovative wearables by integrating the best hardware, software and artificial intelligence to reach even more people around the globe. Fitbit Inc., a US-based wearables company designs innovative products that track the daily health and fitness of the consumer in the form of smartwatches, activity trackers, wireless headphones and smart scales.

During the historic period, the rise in mortality rate due to non-communicable diseases with an increasing prevalence of chronic diseases and life-style associated diseases like hypertension and diabetes contributed to the growth of wearable medical devices. Healthcare industry is coming up with newer technologies to overcome this with necessary measures like continuous and remote patient monitoring facilities through wearables which can be worn over the body all-day long for continuous monitoring of the required parameters like vital signs, glucose levels and more. In 2016, of the overall 56.9 million global deaths, 70% (40.5 million) were due to non-communicable diseases of which 80% were due to cardiac diseases, chronic lung diseases, diabetes and cancer. In 2019, a report published by Diabetics Research and Clinical Practice stated that the global diabetics population is estimated to be 463 million in 2019 which is 9.3% of global population and is expected to reach 578 million by 2030 and 700 million by 2045. The rise in number of chronic diseases coupled with growing awareness among the people is pushing them towards continuous monitoring which boosted the market growth.

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Global Wearable Medical Devices Market

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Increase in Automation Levels and Intelligent Cruise Controls Expected to Drive Global In-Vehicle Computer System Market: Ken Research

In-vehicle computer systems are designed to perform various in-vehicle functions such as infotainment, telematics, video surveillance, fleet management, and taxi dispatch and law enforcement. Additionally, with the advancement in technologies it also provides intelligent traffic system, job dispatch, video surveillance, asset management, and fuel saving. It is gaining considerable growth in the market due to an excessive rise in production of passenger and commercial vehicle, which is also anticipated to propel the growth of market over the forecast years.

According to study, “Global In-vehicle Computer System Market to reach USD 1091.53 Million by 2026” the key companies operating in the global in-vehicle computer system market are S&T AG (Kontron), Sintrones Technology Corporation, Lanner Electronics Inc., IEI Integration Corporation, Axiomtek, JLT Mobile Computers, Ibase Technology Inc., Premio Inc., Acrosser and SD-Omega. The key companies have secure distribution networks at the global level. Also, these manufacturers present a wide range of in-vehicle computer systems with an array of configurations customized for different automotive applications. The key strategies adopted by these players to sustain their market position are new product developments & collaborations, and contracts & agreements.

Based on offering, in-vehicle computer system market is segmented as software and hardware. Software is further sub-segmented as Linux and Windows. Hardware is further sub-segmented as processing unit, display screen, and others. Based on memory size, market is segmented as up to 8 GB, 16 GB, 32 GB and above 32 GB. Based on vehicle type, market is segmented as commercial vehicle and passenger vehicle. In addition, based on application, market is segmented as safety computers, convenience computers, performance computers and diagnostic computers.

The in-vehicle computer system market is driven by rise in focus on customized solutions for specialized vehicles, followed by increase in automation levels & intelligent cruise controls, growth in initiative of intelligent transport system in various applications such as connected vehicle and smart public transit and rise in shift toward Inter-of-Things (IoT)-based smart transportation. However, threat of substitution by smart-phones or compact handheld devices and increase in complexity of vehicle electronics may impact the market. Moreover, Initiatives for Smart Public Transit and increase in advanced telematics-based services such as predictive vehicle maintenance and usage-based insurance are key opportunities for market.

Based on geography, the North-American region dominates the global in-vehicle computer system market owing to presence of large marker players, rise in demand of autonomous driving system and increase in prevalence of high performance embedded computing platform in the region. Whereas, the European and Asian-Pacific regions are estimated to witness higher growth rate due to rise in production of automotive over the forecast period. In upcoming years, it is expected that future of the global market will be bright as a result of rise in prevalence of automation levels and intelligent cruise controls during the forecast period. The global in-vehicle computer system market is valued approximately US $453.65 million in 2018 and is likely to grow with a growth rate of more than 11.60% over the forecast period 2019 to 2026.

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Global In-vehicle Computer System Market

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Prominent Growth Across Fashion Business-To-Business (B2b) E-Commerce Market Outlook: Ken Research

 Fashion Business-to-Business (B2B) E-commerce surrounds the online-through an online sales portal-sale of products and services between companies.The fashion e-commerce market cover sales of fashion goods and its related services by way of online channels. Fashion goods cover fashion accessories, clothes, shoes, bags, jewellery, cosmetics, and other luxury goods. The fashion Business-to-Business e-commerce market comprises of revenue produced by the establishments using several online platforms and tools for trading fashion products among the companies.Business-to-Business are wholesale trade fairs and conventions began from European Fashion Industry and have less profit in comparison of B2C channel. The growing mobile penetration, rising urbanization and growing per capita disposable income, changing lifestyle along as well as arising adoption of online shopping (E-commerce) are the few factors responsible for increasing growth of the market over the forecast period. For instance: Around 66% of individuals embrace smartphone in 2018, an increase from 63% in 2017 and 58% in 2016, globally, as per Zenith's Mobile Advertising Forecasts 2017.

According to the study, ‘Global Fashion Business-to-Business (B2B) E-commerce Market to reach USD XX billion by 2026’express that there are some corporates which presently working more successfully for dominant the highest market growth and obtaining the effective competitive edge while adopting the effective profit making strategies and policies such as joint ventures, mergers and acquisitions, partnership, amalgamation and product development includes Shopinlot, Systum, Amazon.com Inc. , TraedeWayNet , Arvato, FDM4,Alibaba Group, Pepperi, Cloudfy. The regional investigation of global Fashion Business-to-Business (B2B) E-commerce Market is appraised for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the main region across the world in terms of market share unsettled to the high expandable income and rising fashion trend in this region. Asia-Pacific is expected to exhibit maximum growth rate / CAGR over the forecast period of 2019-2026.

Technological innovations are main trend in the fashion e-commerce industry. The companies trading in the market are embrace new technologies such as artificial intelligence (AI), bar code scanners, virtual reality outfits, and e-commerce automation tools who offer highly personalized and relevant consumer experience. Moreover, many fashion companies are floating new apps to sell their products online in order to reach a great consumer base. For instance, in during the recent past years, Amazon launched an AI-powered tool named Style Snap, which uses machine learning to find similar styles and clothes. Style Snap is an app where people can take a picture, upload, and search for similar clothes accessible on Amazon.com. The increasing utilizes of internet and smartphones is expected to contribute to the expansion of the fashion e-commerce industry.

The market of Fashion Business-to-Business (B2B) E-commerce is anticipated to boost the demand for fashion and other e-commerce markets, generating higher revenue for the online fashion industry over the coming years.

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Global Fashion Business-to-Business (B2B) E-commerce Market

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Growth in Development of Construction Industry Expected to Drive Global Excavators Grapple Market over the Forecast Period: Ken Research

 The Excavators are heavy construction equipment that performs tasks quickly & efficiently. The use of different attachments adds the benefit of performing an extensive range of tasks. The excavator attachments are designed for use in various applications. These are employed for various applications for instance demolition, forestry, recycling, excavation, mining, and many others.

Excavators grapple is a claw or hook attached to the excavator used to catch & hold things in a construction activity. Its basic structure is quite simple and similar for all brands: an inflexible main body with two moving jaws mounted on both ends of the frame. The jaws are powered through one or two hydraulic cylinders and they are connected together with the steel bar so that they move simultaneously. For heavy applications, these hydraulic excavators grapples are always equipped with a powerful hydraulic rotator but for light loading & sorting jobs a tilt rotator can replace it.

According to study, “Global Excavator Grapples Market to reach USD XXX Million by 2026” the key companies operating in the global excavator grapples market are Empire Bucket Inc., Doosan Group, Werk-Brau Co. Inc., Caterpillar Inc., Komatsu Ltd., Rockland Manufacturing, AB Volvo, Kinshofer GmbH, Paladin and ACS Industries Inc. The Key players are envisaged to enlarge through merger & acquisition in the coming years, which may cause small companies to finally sift out. Both the market competition and market concentration are foreseen to touch higher levels in the near future.

Based on type, excavator grapples market is segmented as mechanical excavator grapples and hydraulic excavator grapples. Mechanical excavator grapple is an ideal work tool for waste metal disposal, woods/timbers, stones, moving and unloading. Based on sales channel, market is segmented as distributor and direct sales. Based on application, market is segmented as 1-10 Ton Excavator, 10-25 Ton Excavator, 25-40 Ton Excavator and >40 Ton Excavator. In addition, based on end-user, market is segmented as demolition, forestry, recycling, excavation and others.

The excavator grapples market is driven by high infrastructure investment in road construction, followed by rise in need for infrastructure development and growth in development of the construction industry. However, high cost of excavator grapple may impact the market. Moreover, rapid urbanization and significant growth in production of smart cities in the emerging economies are key opportunities for market. Furthermore, heavy spending by governments in developing countries for infrastructure development is a major trend for market.

Based on geography, the Asian-Pacific region holds major share in global excavator grapples market owing to growth in construction industry coupled with rapid industrialization & urbanization in the emerging economies of the region. Whereas, the North-American and European regions are expected to witness higher growth rate due to strong need for infrastructure development over the forecast period. In upcoming years, it is predicted that future of the global market will be bright as a result of increase in mining activities during the forecast period.

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Global Excavator Grapples Market

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Global Military Robots Market Outlook: Ken Research

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Major players in the military robots’ market are Lockheed Marin Corporation, Northrup Grumman Corporation, General Dynamics Corporation, BAE Systems, Aerovironment, Inc, Irobot, Boston Dynamics, Thales Group, Elbit Systems Ltd, and Turkish Aerospace Industries Inc.

The global military robots the market is expected to decline from USD 19.19 billion in 2019 and to USD 18.68 billion in 2020 at a compound annual growth rate (CAGR) of -2.66%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach USD 25.28 billion in 2023 at a CAGR of 10.61%.

The global military robots market consists of sales of robots designed for military applications. The market consists of revenue generated by the establishments by the sales of remotely controlled military robots that are designed for tasks such as transport, search, rescue, gunfire/attack, airborne and for underwater surveillance, image capturing, bomb disposal, carry wounded military personnel and detect mines.

North America was the largest region in the military robot market in 2019. Europe is expected to be the fastest-growing region in the forecast period, followed by the Asia Pacific.

Multi-mission robots are designed to carry out multi-domain operations in the military. Unlike humans, robots do not suffer from physical and mental exhaustion. With continuous advances in electronic component technology and miniaturization, the operational flexibility of robots increased tremendously. They exhibit greater endurance from the impact of bombs and weapons ensuring greater security. Today's robots are equipped with mission-specific tasks and individual munitions. The payloads that these robots carry may be integrated into line with the mission requirements. For instance, 710 Kobra is a heavy-duty, multi-mission robot designed by American robot maker iRobot Defense & Security (now Endeavor Robotics Holdings) to provide increased safety and mission effectiveness for soldiers, first responders, and security personnel.

The military robots market covered in this report is segmented by the platform into the land; marine; airborne. It is also segmented by application into ISR; search and rescue; combat support; transportation; EOD; mine clearance; firefighting, by payload into sensors; cameras; LCD screens; weapons; radar; others and by end-user into armed forces; homeland securities.

The decline in the defense budget in developed economies across the globe acts as restraints for the industry. World military expenditure is an estimated USD 1822 billion in 2018. The global military expenditure as a share of GDP fell to 2.1 percent in 2018. According to International Monetary Funds (IMF) report, there has been a significant drop in global military spending as a percent of GDP from 3.6% during the Cold War era (1970-90) to 1.9% in the current decade (2010-18). Military spending decreased in Eastern Europe, North Africa, Oceania, South East Asia, sub-Saharan Africa, and the Middle East. For instance, military expenditure in Africa fell by 8.4 percent in 2018, by 6.5 percent in Saudi Arabia, by 1.4 percent in France, and in Russia by 3.5 percent in 2018. The decline in the defense budget in some developed economies across the globe is expected to hamper the military robot market.

In February 2019, FLIR Systems is a world-leading maker of sensor systems acquired Endeavor Robotics for USD 385M amount. With the addition of Endeavor, FLIR becomes a leading provider of unmanned aerial and ground solutions to support the needs of warfighters, and public safety and critical infrastructure professionals. Endeavor Robotics is a robotics company focused on the defense, public safety, and industrial markets.

The market growth can be attributed to the increasing adoption of land-based military robots by various countries for border security. Border security robots that are based on hybrid wireless sensor networks were introduced to address concerns about national security. The primary objective of the border patrol robots is to save the lives of security personnel deployed for border surveillance. Border patrol systems that utilize the PIR sensor for human detection and a metal detector for explosive detection, can accurately detect the border intrusion with minimum human involvements. The system also uses a wireless camera to continuously monitor the border. Based on the fact that autonomous military systems can cut down cost, improve effectiveness, enable more broad military operations, and importantly help keep security personnel out of harm, various countries are adopting military robots for border security. The increasing adoption of military robots by various countries, therefore, is expected to drive the military robot market growth.

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Global Military Robots Market Outlook

Related Report: –

Global Military Robots and Unmanned Vehicles Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

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