Over the years, technological advancements in semiconductors have resulted in reduced cost, enhanced performance, and greater reliability. These advancements have increased their applicability across a wide range of industries such as automotive, manufacturing, and consumer electronics. Limitations in the reliability of conventional bipolar transistors fueled the production and adoption of metal-oxide semiconductor field-effect transistor (MOSFET). However, the existence of the short channel effect in MOSFETs is limiting their use in modern compact devices. This has propelled the need for more efficient transistors especially with reduced channel lengths and has led to the invention for next-generation 3D transistors – FinFET.
With the evolution of communication networks and technologies, over the past decade the telecommunications industry has transformed. It offers enhanced safety measures, connectivity, and reduced cost to its consumers. However, in recent times, factors such as increasing data traffic across industries, the requirement for higher bandwidth, and congestion in networks have propelled the need for the development of more advanced communication networks.
With the technological advancements, the lighting industry has changed significantly in terms of saving energy and money. In lighting industry, the intelligent lighting controls are gaining immense popularity. Intelligent lighting controls provide energy efficient light bulbs such as Light Emitting Diode (LED) light, High Intensity Discharge(HID) Lamp, and Compact Fluorescent Light (CFL), which have a better lifespan as compared to the existing light bulbs. According to the latest market intelligence report by BIS Research titled, ‘Global Intelligent Lighting Controls Market-Analysis and Forecast (2018-2024),’ the market is expected to register a CAGR of 20.9% during the forecast period. This significant growth rate is owing to the integration of physical security industry with intelligent lighting, changing paradigm of lighting control industry to electronic industry, and adding voice control features to the upcoming products.
In the recent years, the augmented reality and mixed reality devices have presented a plethora of applications in various industries such as healthcare, automotive, aerospace and defense, and education, among others. According to the market intelligence report by BIS Research titled, ‘Global Augmented Reality and Mixed Reality Market- Analysis and Forecast (2018-2025),’ the market for augmented reality and mixed reality is expected to grow at a CAGR of 65.1% and 72% respectively, during the forecast period. Investments from the leading market players and vast presence of original equipment manufacturers (OEMs) has contributed to the growth of the overall augmented reality and mixed reality market. Further, the established presence of smartphones and tablets has been one of the major driving factors for the industry. The same trend is going to be seen in the next two or three years owing to the technological advancements in this industry.
Over the past few years there has been a significant transformation in the UV LED technology as well as in its adoption on a global scale. According to the latest report titled ‘Global Ultraviolet LED Market - Analysis and Forecast (2017-2023)’, the global UV-LED market is expected to reach a value of US$ 1.16 billion by 2023, growing at a CAGR of 28.4% from 2017 to 2023. The market for UV LEDs has expanded more than five folds in the past decade and will soon be at a niche place in the global market.
At present efficiency and cost-effectiveness have gained the utmost prominence across the globe, as many people are opting for service providers instead of investing a large amount in incorporating a system. In the lighting industry, LED lights have gathered substantial importance as they are cost-effective as well as efficient in reducing energy consumption, which subsequently helps in reducing the harmful effects of electricity plants on the environment. With the advancements in the LED lighting products, the capital required to install such lighting systems have increased substantially. Hence, the manufacturers and service providers have introduced and developed a new financial structure known as Lighting as a Service (LAAS).
The world is marching towards an age of energy crisis, wherein the depleting fossil fuels won't be able to generate electricity to fulfill the global demand. The diminished supply of fossil fuel generated electricity in the future has pushed the world to harvest renewable resources for energy and employ an efficient method to utilize this energy. As a result, smart lighting market has gained pace substantially over the last few years. With the emergence of smart lighting technology, which includes automated controls and high-efficiency fixtures, the efficient use of electrical energy has gained traction.
Silicon photonics is an emerging technology which has revolutionized data communication and storage by carrying far more data in less time than electrical conductors. Silicon photonics has been anticipated as a substantial breakthrough in the very-high-speed data communications, telecommunications, and supercomputing. With the combination of silicon integrated circuit and semiconductor laser, silicon photonics technology enabled a huge growth in data center bandwidth. The silicon photonics also exhibits potential for low cost and large-scale production capability which makes it one of the most promising candidates for industrial production in the existing CMOS (complementary metal-oxide-semiconductor) foundries.
Intelligent lighting controls are gaining popularity owing to the evolution of smart technology which has drastically changed the face of lighting industry, in terms of energy saving, cost cutting and convenience of users. Energy-efficient light bulbs such as Light Emitting Diode (LED) lights, High Intensity Discharge (HID) lamps, and Compact Fluorescent Lights (CFL) are proven to use less energy and last longer than traditional light bulbs. Although the initial installation cost of energy-efficient lights is higher than the traditional lights, but they save a considerable share of energy cost over the life of bulbs.
The emergence of smart lighting on a global scale has been a consequence of shifting paradigm of lighting industry to electronics industry, along with integration of physical security industry with smart lighting as well as adding voice control feature to the upcoming products. Smart lighting is being adopted as an energy efficient alternative amidst the issue of global energy crisis. Smart lighting market has been growing gradually owing to the increasing smart homes market along with customization benefit and constantly decreasing Average Selling Price (ASP) of LED bulbs. However, the market consists of certain hurdles including designing challenges while using LED, and lack of standards and the associated interoperability issues.