Category: Market Snapshot

We all remember saying, “Where is all of the toilet paper?!” With the onset of the COVID-19 pandemic, supply chains – something we tend to take for granted – began gaining increased attention. Supply chains effect everything from the delivery of materials from a supplier to the manufacturer all the way through to its eventual delivery to the end user. In addition to these noteworthy challenges, the need to provide enhanced security in supply chain transactions is garnering increasing attention. Enter – blockchain – a method that will provide increased security and minimize cyberattacks on the supply chain.

MarketsandMarkets reports that post-COVID-19, the global logistics & supply chain industry market size is expected to grow at a Y-O-Y rate of 17.6% from 2020 to 2021, to reach $3,215 billion in 2021, up from $2,734 billion in 2020. This growth is primarily driven by the increasing supply of essential commodities, the creation of supply chain stabilization task force to fight COVID-19, and growing demand and distribution of personal protective equipment. With this overall growth comes an Increasing need for supply chain transparency and a rising demand for enhanced security of supply chain transactions. According to MarketsandMarkets, the global blockchain supply chain market size was $82.1 million in 2017 and is projected to reach $3,314.6 million by 2023, at a Compound Annual Growth Rate (CAGR) of 87.0% during the forecast period.

The blockchain supply chain market ecosystem is made up of notable vendors, such as IBM (US), Microsoft (US), Oracle (US), SAP SE (Germany), AWS (US), Huawei (China), Bitfury (Netherlands), Auxesis Group (India), TIBCO Software (US), BTL Group (Canada), Applied Blockchain (UK), Guardtime (Estonia), Nodalblock (Spain), Peer Ledger (Canada), Blockverify (UK), TransChain (France), RecordsKeeper (Spain), Datex Corporation (US), Ownest (France), Omnichain (US), Traceparency (France), Digital Treasury Corporation (China), Chainvine (UK), VeChain (China), Algorythmix (India), and OpenXcell (US). These players tend to favor partnerships and new product launches as the key growth strategies to offer feature-rich blockchain technology solutions to their customers and further penetrate regions with unmet needs. Other stakeholders of the blockchain supply chain market include cryptocurrency vendors, research organizations, network and system integrators, blockchain service providers, distributed ledger technology solution providers, and technology providers.

Today, big data has become a key element in building business development strategies, and while the logistics and supply chain industry continue to grow, so does the amount of data generated. This increase in data coupled with the persistent requirement for a unified cost-saving solution is expected to drive demand for advanced analytics solutions across industry verticals. Additionally, as companies look to identify opportunities for cost-cutting and resource-savings, supply chain optimization grows in importance. Therefore, access to secure, accurate supply chain analytics provides companies with valuable insights into the root causes of losses and successes. The global supply chain analytics market size is expected to grow from $3.5 billion in 2020 to $8.8 billion by 2025, at a CAGR of 19.8% during the forecast period.

Enhancing supply chain security across government and industry is a key pillar of the National Counterintelligence Strategy of the United States 2020-2022, and in October 2020 the National Counterintelligence and Security Center (NCSC) released a new document, Supply Chain Risk Management: Reducing Threats to Key U.S. Supply Chains, to help private sector and U.S. Government stakeholders mitigate risks to America’s critical supply chains.  NIST also hosted virtual workshop in October 2020 building upon its prior guidance documents, Blockchain Technology, and Securing Manufacturing Industrial Control Systems.

Need to take a video call on the moon? Sure, why not! Maybe even check your email too. Earlier this year NASA granted Nokia a contract to build the first-ever 4G mobile network on the moon that will allow astronauts to carry out a number of activities including making voice and video calls in support of NASA’s Artemis program that plans to establish a “sustainable” human presence to the moon by 2028.

While the contract with Nokia is one piece of this effort, developing enabling communications technologies for small spacecraft beyond Low Earth Orbit (LEO) will be a complex task. In order for spacecraft to conduct NASA lunar and deep space distributed spacecraft science missions innovators are looking for ways to best construct the lunar communications architecture, potentially through the use of large and small satellite assets. These enabling technologies may include data relay from lunar surface to surface, data relay to Earth, and navigational aids to surface and orbiting users, and are essential to the success of human exploration missions.

In its coverage of space exploration technologies and markets, BCC Research and its network of partners indicate that the recent ramp-up by NASA as it revitalizes its commitment to the Moon, Mars and other planetary exploration is providing new and exciting opportunities for companies involved in optics, photonics, and other areas. The Global Deep Space Exploration and Technology Market is forecast to grow at a CAGR of 6.42% from 2020 to 2030 with North America expected to dominate the market with an estimated share of 62.45% in 2020. The global deep space exploration and technology market is becoming increasingly important due to efforts from the national space agencies and the subsequent rise in investment for deep space exploration missions. The development of new technologies and emergence of private entities in the space sector are some of the factors that may drive market growth.

Ground station equipment is one such enabling space communications area – BCC Research reports that the global space ground station equipment market forecasts that the market will grow at a CAGR of 4.32% by value and 3.81% by volume from 2019 to 2024. North America dominated the global space ground station equipment market. These ground stations are terrestrial radio stations designed to provide a connecting path for telecommunication of spacecraft with the end-user devices and are used on the earth surface to communicate with the satellites in real time using radio frequency waves. The ground station is made up of several components such as antenna system, telemetry, tracking and command (TT&C) equipment, control center, RF equipment, and gateways. In addition to the ground stations, there is customer equipment which communicates directly with satellites or through gateways of ground stations, which accounts for a large segment of the global space ground station equipment market.

While NASA already relies on commercial and university ground stations to provide 67 percent of communications and tracking for its Near-Earth Network, shifting even more to commercial communications services is expected to free up personnel and resources within NASA to focus on technology development and bolster the commercial space economy. Free-space optical (FSO) laser communications is seen as one of the enabling technologies for advancements in commercial space ground station communications and is already being explored by The University of Western Australia (UWA) and an industry partner. MarketsandMarkets reports that the overall FSO market is expected to grow from $402 million in 2020 to $1,977 million by 2025 at a CAGR of 37.5% during 2020–2025 with applications in a variety of vertical ranging from healthcare to aerospace and defense.

Other communications efforts include replacing the incumbent Space Network, which provides communications for more than 40 missions by leveraging commercial technologies and players to develop and deploy an interoperable network of networks that may operate like a terrestrial cellular model allowing user missions to roam between several providers. This effort is currently called the Communications Services Program out of the NASA Glenn Research Center where a briefing to industry was provided in mid-2020.

The amount of electricity generated by solar energy in the U.S. is increasing. In 2010 less than 0.1% of electricity generation came from solar energy – in 2020 this has increased to nearly 3%. In some states, solar accounts for approximately 20% of all electricity generated. Additionally, the cost of solar electricity is decreasing due to global economies of scale, technology innovation, and greater confidence in PV technology.

This growth is not only being seen in traditional installations but is also making inroads in nontraditional applications. From space travel to drones and vehicles, solar energy is an exciting field. In BCC Research’s coverage of the solar energy market, it reports that the global market for solar power technologies should grow from $143.3 billion in 2018 to $286.3 billion by 2023 at a compound annual growth rate (CAGR) of 14.9% during the forecast period of 2018-2023. BCC Research published a report covering space-based solar power (SSP) – space is among the new frontiers for solar power, and SSP is expected to play an important role in the future of power generation given its seemingly limitless potential. While certain challenges and limitations exist for SSP, including transporting the solar panels to space, other innovations are helping to overcome these challenges. For example, the development of reusable rockets is expected to enable the development of space-based solar power and help meet Earth-based energy needs.

Solar power innovations mostly occur in two technology areas, solar photovoltaics (PV) and Concentrated Solar Power (CSP). Solar cells are also referred to as photovoltaic cells and convert sunlight directly into electricity. BCC Research reports that the global market for alternative solar photovoltaic (PV) technologies should grow from $1.9 billion in 2018 to nearly $2.3 billion by 2023 with a CAGR of 3.6% for the period of 2018-2023. Some of the key technologies in this area include key technologies like CIS/CIGS, CdTe, a-Si, DSSC and OPV, and more. The largest PV systems in the country are located in California and produce power for utilities to distribute to their customers. The Solar Star PV power station produces 579 megawatts of electricity, while the Topaz Solar Farm and Desert Sunlight Solar Farm each produce 550 megawatts.

MarketsandMarkets provides coverage of many different solar energy technologies, including solar vehicles, solar lighting, Concentrating Solar Power (CSP), different solar materials, and more. Concentrating Solar Power (CSP) is achieved when solar energy is collected using mirrors to concentrate sunlight onto receivers and convert this energy into heat, which may be used to produce electricity using a steam turbine or heat engine driving a generator. The global CSP market is projected to reach $7.6 billion by 2025, at a CAGR of 16.4%, from an estimated $3.5 billion in 2020. Market drivers include: environmental concerns over carbon emissions; efforts to reduce air pollution; including policy support from governments for renewable technologies; and the integrability of CSP systems with thermal storage systems. Furthermore, hybrid power plants use two or more technologies and may include oil, natural gas, biomass, hydropower, geothermal power, storage, solar CSP, solar PV, wind turbines, coal, or nuclear power to generate electricity or any other products, such as hydrogen. CSP offers the potential for hybridization with different energy sources ranging from conventional fossil fuels to biomass and other concentrating solar power or other renewable combinations.

The U.S. Department of Energy (DOE) has been at the forefront of solar energy technology development. Its Solar Energy Technologies Office provides valuable resources and information on this renewable energy source. However, interest in solar energy extends beyond DOE. The Department of Defense (DoD) and NASA are also on the cutting edge of solar energy technology and development. NREL is partnering with both DoD and NASA on a variety of projects. Through the continued exploration of novel application areas, it appears that the sky, and beyond, is the limit for solar energy.

Aquaculture is playing an increasingly important role in global food security – with wild seafood production under threat due to overfishing and other issues, farmed seafood is one approach to mitigating this challenge. Today, aquaculture supplies over half of all seafood produced for human consumption, and this amount is expected to increase across the globe. Presently, the U.S. imports 90% of its seafood, half of which is from aquaculture, yet only 5% of U.S. seafood supply is from domestic freshwater and marine aquaculture. Given this imbalance, the $1 billion value of total U.S. freshwater and marine aquaculture production is overshadowed by the global aquaculture production of $100 billion. While U.S. marine aquaculture is small, NOAA reports that it is growing at 8% per year and is poised for additional growth as certain segments, including oyster farming, continue to expand.

MarketsandMarkets provides extensive coverage of the aquaculture industry through a series of reports covering several different market segments. As a whole, the aquaculture market is projected to grow from $30.1 billion in 2018 to $42.6 billion by 2023, recording a compound annual growth rate (CAGR) of 7.2% during the forecast period. This growth is attributed to the growing consumption of fish for its nutritional value, and the rising trend of smart fishing coupled with the increase in seafood trade. The marine culture segment is projected to be the fastest-growing segment of the aquaculture market due to the rising demand for seafood products and declining capture from ocean fishing. However, ocean cage culturing of marine fish has driven the design of new and innovative cages for near-shore and offshore environments, and advancements in recirculation systems, feeding systems, and other technologies are providing growth opportunities for the marine aquaculture system. Unsurprisingly, the equipment segment is estimated to dominate the aquaculture market.

Precision aquaculture, which provides more control and economic yield is growing. It is estimated to be worth $398 million in 2019 and is projected to reach $764 million by 2024; growing at a CAGR of 14.0% from 2019 to 2024. This growth is being driven by a variety of factors, including the rapid adoption of advanced technologies such as IoT, artificial intelligence (AI), feeding robots, and underwater remotely operated vehicles (ROVs) on aquaculture farms. The increasing investment and rising R&D expenditure in aquaculture technology worldwide coupled with the growing popularity of land-based recirculating aquaculture systems is helping push growth. Furthermore, the automation of aquaculture farms reduces labor costs, increases operational efficiency, and leads to higher farm yields. BCC Research also provides coverage on aquaculture, including information on several unique segments of this space. In addition to its coverage of the total market, BCC Research databases and partners report that the global aquaculture vaccines market was valued at $190 million in 2018 and is expected to reach $300.25 million by 2026, and the global warm water aquaculture feed market is forecast to reach $59.67 million by 2026.

Given the global nature of the aquaculture market, international cooperation and oversight is a key aspect of this unique space. of The Food and Agriculture Organization (FAO) is a specialized agency of the United Nations that provides information and services related to food security – including comprehensive reporting on food-related topics, including aquaculture. Its bi-annual series, The State of World Fisheries and Aquaculture provides guidelines on sustainable aquaculture growth, and on social sustainability along value chains in this industry. Now on its 25^th anniversary edition in 2020, the report provides over 200 pages covering trade and production statistics, industry trends, and more. On the domestic front, the USDA participates in interdepartmental coordination activities through the NSTC Subcommittee on Aquaculture and coordinates activities within the Department through its Working Group on Aquaculture to:

1. Continually Improve USDA Customer Service to Aquaculture Community; and
2. Provide USDA Support for a Federal Economic Development Initiative on Aquaculture.

More specifically, the Working Group is developing requirements assigned to USDA in the President’s May 2020 Executive Order “Promoting American Seafood Competitiveness and Economic Growth.” Seventeen USDA Agencies fall under eight Mission Areas to support aquaculture through their leadership across seven program areas. The FAO, USDA, and NOAA all provide extensive resources on their websites and offer access to conferences and other opportunities.

Are we there yet? It might seem like a common enough question, but when it comes to space exploration, travel time makes a big difference. The future of space exploration and travel will require demanding propulsive performance and flexibility for more ambitious missions requiring high duty cycles, more challenging environmental conditions, and extended operation. These capabilities may be achieved through the innovation and development of advanced in-space propulsion systems designed to reduce travel time, increase payload mass, reduce acquisition costs, reduce operational costs, and enable new science capabilities for exploration and science spacecraft.

BCC Research indicates that the space propulsion system market is expected to grow rapidly due to a significant increase in satellites and launch vehicle manufacturing; this increase has been enabled by recent innovations in components allowing a wider segment of consumers in the industry to have access to space propulsion system technology. Additionally, a significant investment in the development of cost-effective and efficient propulsion systems is a leading growth driver in this market. Furthermore, the development of emerging technologies, including, air-breathing propulsion systems, electric propulsion systems, and reusable propulsion systems, are expected to drive growth in the global space propulsion system market. In terms of how much revenue this generated – the global space propulsion system market generated a revenue of $5.63 billion in the year 2018.

MarketsandMarkets also provides coverage of the space propulsion systems market and offers insights into factors impacting this space, including COVID-19. The space propulsion market faced a slight decline from 2018 to 2019 due to a decrease in the number of space launches, and COVID-19 has also affected the import and export trading activities in the space industry. However, the expected rise in space launches from 2021 and beyond will drive the space propulsion market. Taking these and other factors into consideration, MarketsandMarkets reports that the global space propulsion market will grow from $6.7 billion in 2020 to $14.2 billion by 2025, at a compound annual growth rate (CAGR) of 16.2% from 2020 to 2025.  The rapid spread of COVID-19 in Europe, the U.S., and Asia Pacific has led to a significant drop in demand for space propulsion system globally, with a corresponding reduction in revenues for various suppliers and service providers across all markets due to late delivery, manufacturing shutdown, the limited staff at manufacturing facilities, and limited availability of equipment. However, industry experts believe that global space propulsion demand is anticipated to recover by 2022.

While space launches are exciting, they can produce a sizeable carbon footprint due to the burning of solid rocket fuels – the exhaust is filled with materials that can collect in the air over time, potentially altering the atmosphere in dangerous ways along with small pieces of soot and a chemical called alumina that are created in the wakes of rocket launches. These materials may build up in the stratosphere over time, slowly leading to the depletion of a layer of oxygen known as the ozone. As the number of missions increases, the emission scale of harmful gases is also expected to increase. In terms of space propulsion technologies in use and their growth trajectory, the non-chemical segment of the space propulsion market is expected to grow more quickly than the chemical segment. This is due to the demand for velocity increments in modern propulsion systems given that the non-chemical propulsion system’s efficient use of fuel and electrical power enables modern spacecraft to travel farther, faster, and cheaper than any other propulsion technology currently available. To quantify this difference, chemical propulsion systems have demonstrated fuel efficiencies up to 35%, but ion thrusters have demonstrated fuel efficiencies over 90%. The sky truly is the limit when it comes to novel and efficient propulsion systems.

Due to the presence of major player and intense competition among them, North America is the most technologically advanced region with these players looking to secure contracts from end users—such as defense, commercial, and government agencies—and to deploy their satellites and launch vehicles into space by using different types of propulsion systems. This market has been garnering increasing amounts of interest over the past few years due to the significant efforts of commercial space companies and space agencies developing more efficient, less toxic, and enhanced space propulsion systems to contribute to the growth of the space propulsion system market. The development of cost-efficient propulsion technologies may drive growth in this market for years to come.

Most of us immediately think of NASA’S Jet Propulsion Laboratory (JPL) when considering novel propulsion systems, but the U.S. Department of Energy (DOE) is also playing a key role in space exploration and technology development. During the summer of 2020, the Mars 2020 Perseverance Rover was launched from Florida’s Kennedy Space Center – it’s the first rover in over 30 years to use domestically produced plutonium created by the U.S. national laboratories. Perseverance is equipped with a multi-mission radioisotope thermoelectric generator (RTG) used to power the rover throughout its journey – to date, the DOE has built almost 50 radioisotope power system units that have powered more than two dozen U.S. space missions. In addition to the work being carried out by the DOE, the Department of Defense (DoD) is working on nuclear propulsion systems through efforts by DARPA and industry to further technology in this space. The White House is also working to power space exploration – its guiding document, A New Era for Deep Space Exploration and Development, was released by the National Space Council in July of 2020.

City and suburban agriculture takes on many different forms — backyard, roof-top and balcony gardening, community gardening in vacant lots and parks, roadside urban fringe agriculture, and livestock grazing in open space. The three most common umbrella categories in this space include urban, indoor, and vertical farming.

In Frost & Sullivan’s recent analysis, Global Future Risks—Future-proofing Your Strategies, 2030, the group discusses short-term, mid-term, and long-term risks. Among these risks, the water crisis is expected to drive innovation in agricultural practices such as vertical farming and optimized crop selection, which can play an important role in reducing the ongoing water crisis. Furthermore, urbanization is listed as a mid-level risk as it pushes the demand for smart solutions such as intelligent grid control and electrification, smart buildings, and smart storage solutions.

The vertical farming market is forecast to grow from $2.9 billion in 2020 to $7.3 billion by 2025; a compound annual growth rate (CAGR) of 20.2% during the forecast period studied by MarketsandMarkets. Major drivers in this market include the high yields and several other benefits associated with vertical farming over conventional farming. This growth is enabled by advancements in light-emitting diode (LED) technology, year-round crop production irrespective of weather conditions, and the requirement of minimum resources.

In addition to vertical farming, many other techniques and technologies are involved in non-traditional agricultural settings. For example, BCC Research reports that the global market for aeroponics is expected to grow from $696.9 million in 2019 to $2.2 billion by 2024 at a CAGR of 26.0% for the period. Additionally, MarketsandMarkets reports that the market for hydroponic systems is estimated to be valued at $9.5 billion in 2020 and is projected to grow at a CAGR of 11.9% to reach $6.6 billion by 2025. This growth is attributed to pressure on the agriculture industry to meet the growing demand for grains and other types of food that drives the search for high-yielding farming techniques, including precision farming and urban farming. Hydroponics, thus, is looked upon as a potential solution for the growing concern about food security in the coming years.

Precision or smart agriculture is a growing space, in July 2020, MarketsandMarkets provided coverage of the Smart Greenhouse Market, which included Hydroponics and Non-Hydroponics. In a smart greenhouse. This market is forecast to reach $2.1 billion by 2025, up from $1.4 billion in 2020 at a CAGR of 9.2% during the forecast period. This growth is primarily driven by the increasing adoption of Internet of Things (IoT) and Artificial Intelligence (AI) by farmers and agriculturists. Furthermore, growing demand for food due to the continuously increasing global population; surging adoption of indoor farming in urban areas; and rising number of government initiatives to promote the adoption of smart agricultural practices are driving growth. Additional factors impacting this market include the increasing international adoption of vertical farming technology and the emerging trend of rooftop farming in urban areas act as growth opportunities for developers of smart greenhouses.

To learn more about this space the USDA provides a variety of resources on urban gardening, including a toolkit to help gardeners and developers plan their projects, and Indoor Ag-Con adapted its planned format to include an online webinar series.

While we may have all learned about the water cycle in elementary school, the water that comes out of your tap follows a much more complex process.

Wastewater includes used water or sewerage water from households and industries that are then treated for reuse or for discharging it into the environment. MarketsandMarkets reports that the wastewater treatment market is forecast to reach $65.1 billion by 2024, up from an estimated $48.5 billion in 2019, which is a Compound Annual Growth Rate (CAGR) of 6.1%. Increasing water pollution and scarcity of water are driving growth in the wastewater treatment services market in all the regions. The wastewater streams are treated in a variety of manners and the quality of treated water depends on parameters such as the presence of total dissolved solids (TDS), hardness, the potential of hydrogen (pH) level, and alkalinity. The wastewater treatment process involves several operations such as chemical treatment, settling operation, evaporation, filtration, and others. The service and treatment methods are dependent on the end-use application.

Demand for wastewater treatment services is very high in power generation, and this segment is expected to register the highest revenue growth within this market. However, when segmented by end-user the municipal segment is expected to be the largest end-user segment of the wastewater treatment services market through 2024. Residential wastewater is primarily treated through the municipal wastewater treatment plant. Growth in this segment is attributed to population growth and the scarcity of water resources, which have increased the need for wastewater treatment and water recycling services. These growing needs have simultaneously driven growth in novel treatment methods. The biological wastewater treatment market size is estimated to be $8.7 billion in 2020 and is expected to reach $11.1 billion by 2025, at a CAGR of 5.1%. This market and the processes it uses are segmented into aerobic and anaerobic. Growth in this market is attributed to strict regulations regarding the disposal of wastewater into the environment or for reuse, aging infrastructure, water scarcity & reusability of wastewater, rapidly growing population and industrialization are major drivers responsible for the growth of the biological wastewater treatment market.

The key market players in this market include Veolia (France), SUEZ (France), Xylem (US), Ecolab (India), Evoqua Water Technologies (US), Thermax (India), and W.O.G. Group (US), Golder Associates (Canada),  Envirosystems Inc. (Canada), and SWA Water Holdings (Australia). Xylem (US) is a leader in water technology and plays an important role in the manufacturing and service of engineered solutions for water and wastewater applications.

According to the Department of Energy (DOE), wastewater operations are typically the largest energy expense in a community, and reductions in energy usage can lead to significant environmental, economic, and social benefits for these communities. DOE reports that the total annual energy use by municipal wastewater treatment systems in the U.S. is approximately 30 billion kWh, and is expected to increase by as much as 20% in the coming decades due to more stringent water quality standards and growing water demand based on population growth. Furthermore, DOE notes that wastewater contains approximately five times more energy than is needed for its treatment in terms of untapped thermal energy, which can be captured and used to generate energy.

DOE is working with 27 state, regional, and local partners representing more than 100 water resource recovery facilities to accelerate a pathway toward a sustainable infrastructure over the course of 3 years through the Better Buildings Sustainable Wastewater Infrastructure of the Future (SWIFt) Accelerator. In late 2019 the U.S. Department of Agriculture (USDA) Deputy Under Secretary for Rural Development announced that the department is investing $635 million in 122 projects to improve water systems and wastewater handling services in rural communities in 42 states

While several conferences have shifted plans in recent weeks, the DOE 2020 Better Buildings, Better Plants Summit is transitioning to a virtual leadership symposium and includes tracks that may be of interest to firms working in wastewater treatment.

Did you know that Galileo Galilei perfected the first device known as a microscope in 1609?

Today, microscopes enable researchers to conduct in-depth academic and exploratory research using increasingly complex methods and technologies. With the interest in life science areas such as nanoscience, pharmacology, and toxicology growing at a rapid pace, the need for advanced microscopes that employ mediums much more penetrative than light such as electron and X-ray has also increased. The rapid expansion of the global microscopy devices market is attributed to an increase in innovations and technological advancements in microscopes, focus on R&D activities by pharmaceutical and biotechnology companies, and growth of the life science industry.

According to BCC Research, the global market for microscopes, accessories and supplies reached $7.1 billion in 2019 and should reach $9.8 billion by 2024, at a compound annual growth rate (CAGR) of 6.6% for the period of 2019-2024. The microscopy market includes several fields, such as optical microscopy, scanning probe microscopy, electron microscopy, and microscopy accessories. Growth in this market is driven largely by factors such as a favorable funding scenario for R&D in microscopy, technological advancements in microscopes, and rising focus on nanotechnology and regenerative medicine. However, the high cost of the advanced microscopes is expected to restrain the growth of this market during the forecast period.

Electron microscopes are expected to show the highest growth in this market due to the high magnification ratio, electron microscopes have vital applications in biology, material sciences, nanotechnology, and semiconductor industries. Growing R&D activities and easy availability of funds have resulted in increasing life science and material science research. This, in turn, is expected to drive the demand for electron microscopes. The growing trend of correlative light and electron microscopy is also responsible for the growth of the electron microscopes segment. Grandview Research reports that the global electron microscope market size was valued at $3.2 billion in 2017 and is anticipated to expand at a CAGR of 7.4% through 2025.

If electron microscopy is the fastest growing market segment, what exactly is it? Electron microscopy is used to produce high-resolution images at the atomic scale of everything from composite nanomaterials to single proteins. The technology is primarily a research tool that provides invaluable information on the texture, chemistry, and structure of advanced materials. Research in this field has focused on achieving higher resolutions over the past few decades, or in layman’s terms, being able to image materials at progressively finer levels with more sensitivity and contrast.

Presently, there are two major types of electron microscopes used in clinical and biomedical research settings: the transmission electron microscope (TEM) and the scanning electron microscope (SEM). The TEM and SEM can also be combined in one instrument called the scanning transmission electron microscope (STEM). The following outlines the basic principles and differences between these tools:

• TEM:   magnifies 50 to ~50 million times; the specimen appears flat
• SEM:   magnifies 5 to ~ 500,000 times; sharp images of surface features
• STEM: magnifies 5 to ~50 million times; the specimen appears flat

Key firms in the electron microscopy market include Nikon Metrology Inc.; Thermo Fisher Scientific.; ZEISS, International; JEOL Ltd.; Angstrom Advanced Inc.; Hirox Europe Ltd.; and Hitachi High-Technologies Europe GmbH. In terms of their strategies, regional and service portfolio expansions and merger and acquisitions are a common practice in this market. For example, Thermo Fischer Scientific acquired electron microscope software console from Roper technologies in June of 2018.

Work being carried out at the National Center for Electron Microscopy (NCEM) located at the Lawrence Berkeley National Laboratory is impacting the following areas of research:

• Defects and deformation
• Mechanisms and kinetics of phase transformations in materials
• Nanostructured materials
• Surfaces, interfaces and thin films
• Microelectronics materials and devices

In addition to NCEM, other national labs are working on electron microscopy, Brookhaven National Lab has five top-of-the line transmission electron microscopes, Argonne National Lab is using electron and x-ray microscopy to better understand Nanoscale Dynamics, and The Scanning Transmission Electron Microscopy (STEM) Group of the Materials Science and Technology Division at Oak Ridge National Lab currently operates four aberration-corrected STEMs. The Frederick National Laboratory is home to the National Cryo-Electron Microscopy Facility (NCEF), which provides cancer researchers access to the latest technology for high resolution imaging, and The Electron Microscopy Laboratory (EML) at the Idaho National Lab is a user facility dedicated to materials characterization, using primarily electron and optical microscopy tools.

To learn more about research and resources, the Microscopy Society of America provides an extensive guide on its website.