InsightEdge Blog

Market Overview The global  electric motors market   size and share was valued at USD 154.42 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.30% during the forecast period. This expansion is largely driven by the rapid adoption of electric mobility, the increasing demand for energy-efficient systems, and a growing emphasis on automation across industries. As electric motors continue to serve as critical components in countless applications—from consumer electronics and industrial machinery to automotive systems and HVAC units—their relevance and market penetration are accelerating significantly. Electric motors convert electrical energy into mechanical energy, enabling the functionality of modern devices and industrial processes. Their rising integration into electric vehicles (EVs), industrial automation equipment, household appliances, and renewable energy systems has positioned them as a cornerstone of modern infrastructure. Furthermore,...

Market Overview The global  fog computing market   was valued at USD 294.01 million in 2023 and is projected to witness substantial growth, expanding at a robust CAGR of 40.1% during the forecast period. Fog computing, also referred to as fog networking or fogging, is emerging as a vital component in the evolution of data processing, especially in Internet of Things (IoT) and edge computing environments. It provides a decentralized computing infrastructure that brings data processing, storage, and networking closer to end devices and users. As businesses continue to adopt connected technologies, the demand for faster data handling and reduced latency is surging. Fog computing complements traditional cloud infrastructure by enabling computation at or near the source of data, thereby improving performance and efficiency. With growing adoption across industries such as manufacturing, healthcare, automotive, and smart cities, the fog computing market is primed for exceptional expa...

Market Overview The global  durable medical equipment market   was valued at USD 210.85 billion in 2022 and is expected to grow at a CAGR of 6.1% during the forecast period. Durable medical equipment (DME) refers to devices and supplies that are used in healthcare settings or home care to aid in the diagnosis, monitoring, or treatment of medical conditions. These products are typically designed for long-term use and include wheelchairs, hospital beds, walkers, oxygen equipment, and mobility aids, among others. As healthcare systems around the world evolve, the demand for durable medical equipment continues to rise. This surge is fueled by increasing cases of chronic diseases, growing elderly population, rising preference for home-based care, and improved access to medical services globally. With technological advancements enhancing product functionality and affordability, the DME market is gaining significant traction across both developed and emerging economies. Key Market Gr...

Market Overview The global  identity & access management (IAM) market   was valued at USD 17.25 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 12.4% during the forecast period. As digital transformation accelerates across all industries, organizations are increasingly investing in IAM solutions to manage and secure user identities, control access to critical information, and ensure regulatory compliance. IAM systems are playing a pivotal role in strengthening enterprise IT infrastructure by enabling secure authentication, user lifecycle management, and role-based access control. IAM has emerged as a cornerstone of modern cybersecurity architecture. It ensures that only authorized individuals gain access to digital resources while simultaneously enhancing operational efficiency and reducing the risk of data breaches. The growing adoption of cloud-based platforms, hybrid IT environments, and bring-your-own-device (BYOD) policies has furthe...

Market Overview The global  smart lock market   size and share was valued at USD 2.69 billion in 2023 and is anticipated to generate an estimated revenue of USD 11.92 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.10% over the forecast period, 2024 to 2032. This exponential growth is fueled by increasing adoption of smart home technologies, rising security concerns, and enhanced user convenience offered by smart locking systems. Smart locks are electromechanical devices that enable users to lock and unlock doors remotely through smartphones, biometrics, or voice recognition. As consumers increasingly prioritize home automation and security, the smart lock industry is rapidly evolving with advanced features such as integration with home assistants, real-time activity logs, and remote access management. Key Market Growth Drivers Surging Demand for Smart Home Solutions One of the primary growth drivers for the smart lock market is the increasing popularity...