As per the report by Global Market Insights, the worldwide virtual event platform market was valued at $10 billion in 2022 and will surpass a revenue collection of $40 billion by 2032 with an annual growth rate of 10% over 2023 to 2032.

Global current sensor market is poised to record significant growth from 2023 to 2032 owing to the increasing use of renewable energy for electricity generation.

As per the report by Global Market Insights “Worldwide Vehicle Networking market was valued $1 billion in 2021 and will surpass a revenue collection of $3 billion by 2030 with an annual growth rate of 9.5 % over 2022 to 2030.”

As per a recent industry report put forward by Global Market Insights, the Low Power Wide Area Network (LPWAN) market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding revenue of $350 billion by 2032 with a projected CAGR of 50% over 2023-2032.

Global markets, including the technology sector, encountered significant declines in the first half of 2022 due to various macroeconomic challenges.

The automotive sensors market is set to grow from its current market value of more than USD 30 billion to over USD 55 billion, as reported in the latest study by Global Market Insights Inc.

Driven by growing consumer awareness about its numerous health benefits, the electronic skin market is slated to register a substantial growth momentum over the coming years.

The electric bus market is set to grow from its current market value of more than $28bn to over $53bn, as reported in the latest study by Global Market Insights.

EV charging infrastructure is expected to be in high demand as a result of growing awareness about the energy-efficient of electric mobility along with favorable government policies such as fiscal incentives, tax rebates, and grants.

Recent report by Global Market Insight Inc. suggests that the global automotive aftermarket size will touch a valuation of over USD 800 billion by 2027. The rising preference for automobiles, mainly across the developing economies has ramped up the number of innovations in the automotive sector. This has in turn paved the path for the rise in automotive sales.

Wireless technology has continued to serve as a major factor fueling innovation across the industry verticals.

As per a research report by Global Market Insights, the advanced driver assistance system market is likely to exceed a valuation of $60bn by the end of 2026. Growing number of research and development activities centred around integrating technologies like AI to enhance passenger safety is stimulating the development of new ADAS systems.

Over the past few years, electronic skin technology has gained significant momentum. The technology finds a wide range of use-cases on account of its self-healing characteristics, stretching and self-powering abilities. Electronic skin and patches can be used for patients with prosthetics to provide a sense of touch. In addition, the products are increasingly gaining prominence in diagnostic and therapeutic applications.

Surging COVID-19 cases worldwide have triggered the adoption of mechanical ventilators significantly. Coronavirus is an infectious disease that has a direct impact on the respiratory system of the patient.

One of the recent studies in the global mHealth market comprises research conducted by the IEEE Open Journal of Engineering in Medicine and Biology, and the Mass General Brigham (MGB) Center for COVID Innovation. The study underscores that mHealth mobile apps providing contact tracing are crucial in the detection of people who might have come in contact with a person infected with COVID-19.

Rising implementation of ultrasonic sensors across a plethora of industrial applications such as robot sensing, counting substances in conveyor belts, box sorting schemes, and liquid level control, among others, will outline the growth of the industry. The sensors are also gaining immense traction from AMRs (Autonomous Mobile Robots) to determine vehicle distance from the object and for detecting obstacles.

In January 2021, Proterra Inc., a major player in the global electric bus market, agreed to go public by means of a merger with ArcLight Clean Transition Corp, joining numerous electric vehicle makers in a transaction that was valued at $1.6bn, comprising debt.

The orthopedic devices market will see lucrative growth in the coming years backed by rising innovations and technological advancements in the healthcare sector. Orthopedic medical devices are known to be tremendously efficacious in reducing pain, restoring mobility, and improving the quality of life for many individuals each year.

Rampant development and roll out of 5G technology around the globe will offer new growth prospects to GaN and SiC power semiconductor manufacturers. These semiconductors are known for providing small form factor and high-power density, hastening their adoption whilst telecom operators augment infrastructure development.

Rise in prevalence of skin problems coupled with demand for non-invasive treatments is expected to drive photorejuvenation devices market trends. Over the past few years, there has been a growing craze for aesthetic transformations such as hair removal, wrinkle reduction and tattooing.