ReleaseWire Connect

Global Service robotics market is expected to reach $34.7 billion by 2022, with a CAGR of 23.9% from 2015 to 2022, according to a new report by published by Allied Market Research. The growing need of automation across various industries has encouraged organizations to adopt service robotics for increased productivity, superior quality and precise operations, reduced operation costs, and enhanced safety of workforce. Increasing labor costs coupled with lack of workforce further accelerate the growth of market.

The global precast construction market size was estimated to be $120,222 million in 2015 and is expected to reach $185,232 million by 2022 growing at a CAGR of 6.3%, according to a new report published by Allied Market Research. Non-residential segment is estimated to be the most dominant end user sector in the precast construction market from 2015 to 2022; while Asia-Pacific dominated the market with 46.6% of the global precast construction market share in 2015.

Microcontroller is an electronic device that is used to control other hardware components of any device. It comprises integrated circuits (ICs), memory chips, and input & output devices. It is widely used in communication, retail, automotive, defense, aerospace, and other industries.

In Vitro Toxicity Testing Market Report, published by Allied Market Research, forecasts that the global market was valued at $2,921 million in 2015, and is expected to reach $7,813 million by 2022, supported by a CAGR of 15.07% during the forecast period 2014 2022.

Rising awareness about the virtual training and simulation technology; its cost-effective benefits; and increased expenditure in education, healthcare, and defense sectors, are key drivers for growth in virtual training and simulation market. Further, innovation in design and development of solutions, improved features, and increase in scope of this technology in other industries such as transportation, energy, and mining are catalysts for growth in the market. The supportive government initiates and increased spending on education sector, rise in awareness about this technology, and increased number of Internet users are expected to drive significant growth in Asia-Pacific, which is projected to grow at the fastest CAGR during the forecast period.

Smart Cooling Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $137,548 million by 2022, registering a CAGR of 52.4% during the period 2014 - 2022.

Smart sensors transmit data over all the available networks, and enable features such as digital processing, data conversion, and interaction with external devices. Such sensors hold significant importance in the current scenario, owing to the augmented usage across various application verticals such as consumer electronics, automotive, and healthcare.

Offshore Mooring Market report, published by Allied Market Research, forecasts that the global market is expected to garner $1,408 Million by 2022, growing at a CAGR of 5.0% during the period 2016 - 2022. The spread segment dominated this market, occupying more than one-fourth of the total share of the market revenue in 2015.

Supercapacitor is a high-capacity electromechanical capacitor that stores 10100 times the power stored in normal electrolytic capacitors, and show zero resistance so it can rapidly charge and discharge. In electronic component taxonomy, supercapacitors are positioned between capacitors and batteries. Rise in industrialisation is anticipated to increase the demand for supercapacitors in cranes, valves forklifts, and others. Furthermore, stringent government regulatory guidelines for pollution control is projected to fuel the growth of the market.

Solid state Transformers (SST) Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $247.0 million by 2020, registering a CAGR of 46.6%. Power solid state transformers segment is estimated to occupy more than half of the market revenue by 2020. The North American market is anticipated to exhibit the highest CAGR of 49.3% during the forecast period.