Surge in marine trade among countries of the world and increasing investment in marine electronics technology by major players of the market is driving the global marine electronics market. Similar to the U.S. and Indonesia, many countries of world have made installation of automatic identification system (AIS) chips on vessels mandatory. Beyond this, there is increase in number of tourists preferring coastal areas and cruise ships & ferries.
Globally, the direct-to-shape inkjet printing market is expected to grow with a CAGR of 6.3% during the forecast period from 2025 to 2033. At present, direct-to-shape inkjet printing is changing the packaging industry. This technology enables the printing of images and the texts directly on objects such as bottles, cans and other products. Along with the package decoration, it also helps to provide valuable information about the products.
The wireless communication module market worldwide is expected to grow with a CAGR of 14.1% during the forecast period from 2021 to 2029, starting from US$ 21.92 Bn in 2020. Technological propagation and increasing array of the digital devices, enhanced interfaces for the real-time web surfing and the applications have considerably increased the data usage over the wireless networks. Therefore, customers are more susceptible to use the wireless digital devices against the personal computers for the purpose of accessing the real-time data.
The headlight control module market worldwide is expected to grow with a CAGR of 4.2% during the forecast period from 2021 to 2029, starting from US$ 3.72 Bn in 2020. Headlight control module for the high beam adaptation during the night vision applies an embedded design approach. In October 2020, Hella launched a smart headlight technology research project for the efficient development of the intelligent headlamps. Project aims towards developing the intelligent headlamp which not only identifies probable changes in the performance at a very early stage but is also very much capable of reimbursing for them.
The fiber optical interconnects market worldwide is expected to grow with a CAGR of 18.2% during the forecast period from 2021 to 2029, starting from US$ 5.89 Bn in 2020. Advanced fiber optic interconnect technologies helps in the process of enhancing capacity of the optical equipment by further reducing the operation cost. Major players operating in the fiber optical interconnects market adopted numerous strategies like launching new product & product developments, mergers, business partnerships, collaborations, and business extensions for the purpose of catering to the requirements of optical market.
The fusion splicer market worldwide is expected to grow with a CAGR of 4.7% during the forecast period from 2021 to 2029, starting from US$ 653.4 Mn in 2020. Many nations are focusing on the innovations and the expansions in fiber optic network in numerous telecommunication projects, which would in turn help to increase the market demand for the fusion splicer systems in future. In the month of March 2019, Fujikura Ltd. came up with two new tools the RS02 and the RS03 for the purpose of stripping the telecommunication optical fiber.
Globally, the thyristor market is expected to grow with a CAGR of 7.3% during the forecast period from 2025 to 2033. The market is driven by the increasing demand among the developed countries to replace the aging infrastructure and wide scale deployment of smart grids. The thyristor are widely used across the power electronics applications ranging from power supplies to inverters to controller due to its low switching losses and high energy efficiency.
The global automotive rear lights market is poised to reach US$ 8.52 Bn by 2029, expanding at a CAGR of 4.7% during the forecast period from 2021 to 2029. Digitalization in the automotive industry has taken production to the fast lane. Increasing automotive production worldwide has therefore created huge demand for related components including rear lights. Most of the automobile manufacturing companies are implementing innovative and advanced technologies in vehicle lighting systems in a bid to develop energy efficient solutions.
In 2020, the global submersible pumps market was valued at US$ 11.40 Bn and expected to grow with a CAGR of 5.3% during the forecast period from 2021 to 2029. Submersible pumps market is expected to witness robust growth in the near future owing to rising infrastructural development and increasing industrialization worldwide. Increasing number of deep-water exploration activities and steadily growing water and wastewater management industry are the major growth factors for submersible pumps market.
The global spinal muscular atrophy treatment market is growing proficiently, expected to grow at a CAGR of 14.5%. Globally, the increasing incidence of SMA along with improved treatment management by innovative gene therapy and drugs will drive the growth of the market. Increasing awareness, FDA approval for new drugs, partnerships for enhanced R&D and private funding will boost the overall demand of SMA treatment on a global scale.
