ReleaseWire Connect

Li-Fi market size is anticipated to reach USD 9 billion by 2023, at over 80% CAGR from 2016 to 2023. Rapid growth potential across optical wireless communication applications is forecast to drive the industry over the forthcoming years.

Digital signage market size is forecast to be worth USD 23.02 billion by 2023; as per a new research report by Global Market Insights, Inc.

Industrial machinery market size is anticipated to grow at a CAGR of over 6% from 2015 to 2023. Rising population along with high disposable income among middle class people is expected to drive the industry growth over the forecast period.

LED lighting market size was valued around USD 16 billion in 2014 and is expected to grow at CAGR of over 28% from 2016 to 2023. It is anticipated to reach over USD 45 billion over the forecast period. The industry is likely to achieve share of around 84% of lumen-hour market sales in the general illumination market by 2030.

Solar microinverter & power optimizer market size was valued over USD 300 million in 2013 and is likely to grow at a CAGR of over 25% from 2016 to 2023 and exceed USD 2 billion. It is also referred as module-level power electronics (MLPEs) market.

Solar cells market size is anticipated to witness significant growth from 2016 to 2023. The surge in the industry can be attributed to the rising global awareness regarding solar power.

BioMEMS market size was valued around USD 2.5 billion in 2014 and is anticipated to grow at CAGR of over 25% from 2016 to 2023. The industry is anticipated to attain over USD 8 billion over the forecast period owing to increasing adoption of medical instruments on rental basis by the patient. In addition, rising mobile care applications is also expected to positively contribute significantly to the demand growth over the forecast period. Escalating application in mobile healthcare devices is the major trend for this industry.

LED backlighting market size is anticipated to experience substantial growth from 2016 to 2023. Low power consumption, light and slim form factor, and high product differentiation are the key driving factors over the forecast period.

Embedded software market size is expected to grow at over 7% CAGR, to be valued at more than USD 18.5 billion by 2023. Escalating demand for consumer electronic devices is likely to drive industry demand.

Smart fitness wear market size is predicted grow at over 30% CAGR from 2016 to 2023 and is likely to hit USD 4.5 billion by 2023. Rising consciousness regarding health and fitness among individuals is anticipated to drive industry growth over the forecast period.