In 2019, this industry raked in $1,776.3 million in terms of revenue. This research examines the product types, high-growth opportunities, verticals experiencing the highest demand, competitive environment, and the factors having a major impact on the revenue.
Who are the key end-users, and what are the end-user patterns that will be driving the industry? Are system vendors well-structured to capitalize on current prospects? What are the major growth opportunities and how will end-user market segments change over the forecast period?
The emergence of advanced sensors has led to the increased demand for advanced autonomous vehicles. Examine the recent developments, product launches, types of sensors, strategies and focus areas of the major players, and opportunities that will transform this competitive market.
While the title of this article suggests that uncertainty is not a constant, it actually is. But to truly understand the role of innovation, we must first acknowledge that some moments are more uncertain than others: 2020 has clearly demonstrated that reality.
So what is the role of innovation today? How do we remain focused on innovation when times are tough? Should you even try? To tackle these questions, the last one must be addressed first.
Should innovation even be a priority now?
It is incredibly hard to grow, even during good times. Companies struggle with new product success, illustrated by a 95% fail rate. Lack of growth is the No. 1 reason why CEOs are dismissed. Innovation is at the tip of the spear if we consider growth to be a serious and hopefully obvious goal of any company. Innovative employees are a corporation’s equivalent of Navy Seals: precision experts with a mission target and a clear plan for how to execute that mission. Tough times are the perfect catalyst when innovation must be accelerated, given that competitors both known and unknown may be taking their proverbial foot off the gas pedal. During every major economic downturn, Nike doubled down on its R&D investment with great success, strengthening the business and shoring up core markets. The company recognized a growth opportunity and acted, using its innovation culture as the mechanism to move swiftly.
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The outdoor LED lighting sector in India is in a growth stage, and applications, usage and technology are seeing frequent upgrades and changes. Outdoor LED lighting is used in road, campus, tunnel, transit, industrial and directional segments. This Frost Radar evaluates the top companies on the innovation and growth index to highlight industry leaders.
Amidst the negative impact of COVID-19 on the economy and business cycles in APAC, the chromatography sector proved to be an opportunity in times of crisis for analytical instrumentation companies. Demand is coming from pharmaceuticals, life sciences, biotechnology, and food & beverage industries. This exclusive research discusses the key growth drivers and influencers of demand in this segment.
The global oil and gas pumps market is likely to experience marginal growth as the global economic slowdown and political instability impact oil and gas investments. Rising at a compound annual growth rate (CAGR) of 3%, the industry is estimated to reach $10.43 billion by 2026, up from $8.46 billion in 2019. “Focus on improving plant efficiency and redefining the conventional maintenance approach is expected to help pump original equipment manufacturers (OEMs) unlock new revenue opportunities with service-based business models,” said Kiravani Emani, Industrial Research Analyst at Frost & Sullivan.
Frost & Sullivan’s recent analysis of the North American and European heat exchanger sectors predicts that they will record a CAGR of 3.4% and 3.2%, respectively, from 2020 to 2025, with revenues reaching $4.7 billion for North America and $5.02 billion for Europe. “Investments in the energy sector in North America are likely to offset the effects of the trade war and drive long-term industry growth,” said Riti Newa, Research Associate at Frost & Sullivan. “The European heat exchanger market, however, is expected to witness slow and stable growth, primarily due to the macroeconomic impacts of Brexit.”
Frost & Sullivan’s recent analysis of the industry for electric motors in North America forecasts that sector revenues will witness steady growth between 2019 and 2024, increasing at a CAGR of 3.5% from $7.2 billion to $8.5 billion. The transition from engines, turbines, and hydraulics to electric motors and increasing automation of industrial tasks are expected to sustain the demand for electric motors in the region, despite the slowdown faced by traditional consumers such as the oil & gas and automotive industries.Read more