Electrical & Electronics Industry - Market Research Report

  The global head-up display (HUD) market was valued at USD 4.75 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 15.7% from 2023 to 2030. This market growth is primarily fueled by the affordability of HUD products and their seamless integration with smartphones, which enhances driver safety by minimizing distractions. The demand is further boosted by advanced features like global positioning systems (GPS) and augmented reality (AR) integration. HUD technology enables the display of information directly within the driver's field of view, allowing drivers to maintain their attention on the road. Initially developed for aviation and military use, HUDs are now widely applied in automobiles, commercial aircraft, and wearable devices. The industry’s expansion is also driven by rising disposable incomes, which have increased individual purchasing power. As the modern population becomes more tech-savvy, there is growing acceptance of advanced products th...

The global commercial refrigeration equipment market was valued at USD 40.82 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. Market growth is largely driven by the expanding hospitality and tourism sectors, as well as the increasing preference among consumers for takeaway meals. Additionally, regulatory changes favoring low global warming potential (GWP) refrigerants and ongoing technological advancements are expected to create substantial growth opportunities. The growth of international food trade has also increased the demand for commercial refrigeration systems, especially for frozen foods, processed foods, and seafood that require storage and transport. Technological innovations, such as liquid-vapor compression and ammonia absorption systems, are further driving product demand. Key manufacturers are focusing on research and development (R&D) to improve design and temperature control, thereby gaining a competitive edg...

The global digital workplace market was valued at USD 48.81 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 22.8% from 2025 to 2030. The market growth is largely driven by increasing digitalization, the rising demand for desktop-as-a-service (DaaS), and the growing adoption of remote and hybrid work models. The COVID-19 pandemic accelerated the shift toward flexible work environments, prompting organizations to invest in digital workplace solutions that facilitate smooth collaboration and communication, regardless of physical location. This trend endures as companies recognize the long-term advantages of flexible work structures. In addition, the digital workplace market is witnessing heightened demand for employee experience platforms as businesses increasingly focus on employee engagement and retention. These platforms—often featuring unified communication tools, self-service portals, and personalized interfaces—are designed to enhance the user e...

  The global perimeter security market reached a valuation of USD 64.60 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. Rising terrorism threats and cross-border intrusions have led governments to implement stringent national security measures, which drive market growth. Additionally, the expansion of smart city initiatives and infrastructure projects is a key factor propelling the market forward. Increasing government support for deploying various security systems in critical areas further supports this growth. Technological advancements in automation, like video analytics and aerial drones, are rapidly being adopted to improve security outcomes. With growing public safety concerns, manufacturers are now offering advanced multilayered perimeter protection solutions. Popular technologies include electronic fencing with sensors, infrared, and fiber-optic intrusion detection systems. Perimeter security systems are widely uti...

The global interactive display market was valued at USD 41.45 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. This market includes interactive kiosks, video walls, tables, monitors, and whiteboards. Interactive displays, or touchscreen displays, are screens that respond to user commands through touch, either by finger or stylus, eliminating the need for traditional input devices like a mouse or keyboard. These displays project information such as text, images, and videos and are widely utilized across industries, including retail, healthcare, hospitality, and education. Expected market growth is driven by rising demand for digital classrooms and the increasing adoption of display technologies, such as video walls and tables, commonly seen in transit areas like railway stations and airports. The hospitality and corporate sectors are also seeing a surge in the use of touchscreen tables and video walls, which are anticipated to f...

  The global grow light market, valued at USD 4.23 billion in 2021, is projected to grow at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030. Key factors driving this growth include the increasing adoption of urban and vertical farming, along with an environmentally friendly approach to fruit and vegetable production. The growing global population has heightened the need for urban agriculture, while vertical farming—cultivating plants in vertically stacked layers in facilities like warehouses or skyscrapers—continues to expand the market. Grow lights are essential for extending natural daylight, promoting plant health, accelerating growth rates, and enhancing yields. Artificial lighting options, including high-pressure sodium, LED, and plasma lighting, are useful for extending crop availability year-round. Awareness of alternative farming practices is rising due to limited fertile land and population growth, further fueling demand in this sector. Indoor farming offer...

  The global smart lighting market was valued at USD 15.05 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 22.1% from 2023 to 2030. The rising demand for smart lighting is primarily attributed to its ability to connect with Internet of Things (IoT) devices and create customizable ambient lighting that can be controlled through smartphones or tablets. Smart lighting systems offer features such as dimmability, a range of color tones, scheduling capabilities for turning lights on and off, energy usage monitoring, and various connectivity options including Wi-Fi, Bluetooth, SmartThings, Z-Wave, or ZigBee. Furthermore, these lights can be operated via voice commands when integrated with platforms like Google Assistant, Amazon Alexa, Apple Siri, or Microsoft Cortana. The combination of these features, alongside the growing adoption of IoT devices and smart assistant technologies, has opened up significant avenues for market growth in the smart lighti...

  The global contrast media injectors market was valued at USD 1.27 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.50% from 2024 to 2030. This growth is largely attributed to the increasing prevalence of chronic disorders, advancements in technology, and a rising demand for minimally invasive surgical procedures. The growing incidence of chronic diseases has led to an uptick in the demand for diagnostic imaging tests, including conventional methods like X-rays and ultrasounds, as well as advanced techniques such as CT scans and MRIs. These imaging tests are crucial for diagnosing diseases and making informed decisions regarding surgeries and treatments in interventional procedures, which in turn boosts the volume of contrast media procedures. Thus, the rise in long-term diseases and complex co-morbidities significantly propels market growth. In addition, rapid technological advancements, increased healthcare spending, and improvements in patie...

  The global head-up display (HUD) market was valued at approximately USD 4.75 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 15.7% from 2023 to 2030. The growth in this market is primarily fueled by the affordability of HUD products and their seamless integration with smartphones, which significantly enhances driver safety by minimizing distractions. Additionally, innovative solutions such as global positioning systems (GPS) and augmented reality (AR) are increasingly being integrated into HUD systems, further propelling market demand. HUD technology, which presents information in the driver’s line of sight without requiring them to divert their attention from the road, was originally developed for aviation and military applications but is now being widely adopted in automobiles, commercial aircraft, and various wearable devices. Gather more insights about the market drivers, restrains and growth of the  Global Head-Up Display Market Impac...

  The global commercial refrigeration equipment market was valued at USD 40.82 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. This growth is driven by the rapid expansion of the hospitality and tourism sectors and the increasing preference for takeaway meals among consumers. Additionally, regulations aimed at reducing global warming potential (GWP) refrigerants and ongoing technological advancements will offer further growth opportunities for the market.   The rise in international food trade has increased the demand for commercial refrigeration systems, especially for frozen and processed foods, as well as seafood, which require refrigeration during storage and transportation. Technological innovations, such as liquid-vapor compression and ammonia absorption systems, have further fueled demand for these products. Leading manufacturers are investing in research and development (R&D) to improve product design and...

  The global digital workplace market was valued at USD 27.33 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 22.3% from 2022 to 2030. This growth is driven by increasing digitalization, the rising demand for desktop-as-a-service, and employees' desire for greater work-life balance flexibility. The COVID-19 pandemic accelerated the shift to remote work, prompting businesses to adopt digital workplace technologies to ensure continuity and productivity.   During the pandemic, the widespread use of video and web conferencing introduced new communication methods and fostered team collaboration in a virtual environment. As a result, many companies have made long-term investments in workplace transformation for hybrid work models, relying on cloud-based solutions for secure access and remote working capabilities.   Digital workplaces provide numerous benefits by leveraging smart technologies, enabling employees to work efficiently while m...

  The global heat pump market was valued at USD 88.7 billion in 2023 and is forecasted to grow at a compound annual growth rate (CAGR) of 9.4% from 2024 to 2030. Market expansion is expected to be driven by favorable government policies that promote energy-efficient solutions and reduce carbon emissions. Numerous governments offer subsidies, incentives, tax credits, and rebates for heat pump installations, further fueling the demand for energy-efficient heat pumps and boosting the industry's growth.   For example, the U.S. Department of Energy provides a 30% tax credit for properties with qualified heat pumps installed, whether for new or existing homes. Similarly, Italy’s Conto Termico incentive scheme covers 30-35% of costs for installing renewable heating systems in buildings, while Australia offers national grants for heat pump installations. However, the heat pump industry is also affected by the availability of raw materials such as iron, steel, adhesives, rubber, chem...

  The global electrical steel market size was valued at USD 28.53 billion in 2023 and is expected to grow at a compounded annual growth rate (CAGR) of 4.7% from 2024 to 2030. Increasing electricity generation worldwide is one of the key driving factors for market growth. As the name implies, electrical steel possesses enhanced electrical properties such as high permeability, high electrical resistivity, low hysteresis loss, and low magnetostriction. These properties make it highly desirable for applications related to electricity consumption, distribution, and generation.   Electrical steel finds application in generators, electric motors, relays, solenoids, and other electromagnetic devices, which are further used in power distribution systems and other related applications. The U.S. is the second-largest electricity generator in the world. In 2022, the country generated around 4,243 TWh of electricity, a 6.4% increase compared to 2021. The growth in the electric vehicles (...