With the COVID-19 lockdown being relaxed in phases, companies are gearing up and re-aligning themselves to bag opportunities that are set to arise out of this pandemic scenario. The trends to emerge in the market post-COVID-19 will involve adding intelligence to products and convergence of technologies.

Supply chain de-risking has been the highest priority of customers across the globe as disruptions have become commonplace in recent times, especially since the number of online orders and home deliveries has increased due to the Coronavirus outbreak.

We live in times where healthcare facilities turn into virus transmission hubs, and the lives of lifesavers are exposed to potential threats. Such is the challenge that touchless treatment is needed, and radio-frequency identification (RFID) technology is the key to digitization. 

Most notably, the global demand for ventilators has risen by up to 10 times this year. Many manufacturers have already boosted their production by 30-50%, and they can’t deliver the 500 or 1,000% growth in production required.

Healthcare technologies are evolving in tandem, such as monitoring data, registering patients, and tracking lab tests. There’s also been an increase in demand for portable devices that are used for in-home care. As a result, the rise in healthcare equipment and portable medical devices will increase the demand for more medical-grade power supplies.

The growing senior population has triggered new healthcare practices to provide better assistance, such as RFID health monitoring wearables. These solutions help seniors to be more autonomous and self-reliant in taking care of their own health.

The rising inclination of consumers towards energy-efficient systems, such as eco-friendly inverter controller boards, and the growing popularity of portable systems are expected to impact the air conditioning systems market growth positively.

Global IoT technology encompasses a set of advanced equipment, such as meters and sensors, along with network connectivity, smart devices, and software that send data between machines and devices. This market is gaining rapid growth due to the rising adoption of artificial intelligence (AI) and connected devices based on machine learning and the increased use of cloud-based solutions.

By 2024, the wireless gas detection sensors market will reach $1.4B from an estimated $1B in 2019, at a CAGR of 6.4% from 2019 to 2024. These sensors are used to measure the concentration of gases, such as nitrogen oxide.