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The deep tech market is experiencing dynamic shifts, reflecting an era of unprecedented innovation and strategic investments. As of the latest market updates in 2023, the global deep tech market has surpassed $900 billion, marking a substantial increase from 2022.
This surge is propelled by increasing interest from venture capitalists and corporate investors, with funding reaching $120 billion across deep tech sectors. These market dynamics highlight a vibrant deep tech ecosystem, characterized by substantial investments and a continual pursuit of cutting-edge technologies, shaping the future of industries across the globe.
BIS Research’s latest reports across several verticals offer market estimations based on secondary research data, which is then validated by industry leaders and other stakeholders via primary research.
Smart crop monitoring involves employing cutting-edge technologies such as satellite imagery, drones, sensors, and data analytics to precisely and efficiently monitor and oversee agricultural crops.
In 2022, the global smart crop monitoring market was assessed at $2.78 billion, and it is anticipated to exhibit a CAGR of 16.90% from 2023 to 2028, reaching a valuation of $7.16 billion by the end of the forecast period.
According to Debraj Chakraborty, Principal Analyst at BIS Research, “Smart crop monitoring has the potential to revolutionize agriculture. Advanced technologies such as IoT, AI, and drones are enhancing crop management, optimizing resource use, and ensuring higher yields. The market's rapid growth is driven by a global need for efficient farming, sustainable practices, and meeting the rising food demands of a growing population.”
The healthcare industry's advanced dental digital and robotics solutions market is a dynamic and swiftly progressing sector, incorporating various technological innovations and applications to advance dentistry.
Valued at $3.82 billion in 2022, the global advanced dental digital and robotics solutions market is projected to achieve a valuation of $8.99 billion by 2032. This growth is anticipated to occur at a CAGR of 9.15% from 2023 to 2032.
According to Swati Sood, Principal Analyst – BIS Research, “The integration of artificial intelligence (AI) with dental robotic systems is a transformative development that brings numerous benefits to the field. AI's ability to enhance safety, productivity, and efficiency while reducing the risk of human errors is paving the way for a new era of dental robotics. These advancements promise to optimize performance and ultimately improve the quality of care, marking a significant stride in the evolution of dental technology.”
Lignofuels are in the early stages of commercialization, with certain sources, like algae-based biomass, still in development. The market ecosystem includes manufacturers, technology providers, blenders, and end users. Europe leads in market development, followed by Asia-Pacific, Japan, China, North America, and the rest of the world.
The Lignofuels market was valued at $1.58 billion in 2022 and is expected to reach $3.34 billion by 2032, growing at a CAGR of 7.75% between 2023 and 2032.
According to Sachin Singh, Lead Analyst at BIS Research, “Lignofuels, also called 2G ethanol or cellulosic ethanol, is gaining traction in the aerospace industry owing to its increased consumption in sustainable aviation fuel (SAF). The lignofuels market is expected to grow at a higher rate with decreasing costs. Currently, the production cost of lignofuels is high as compared to ethanol or first-generation ethanol; however, the cost is expected to go down with its increasing technological advancements.”
The battery metals market is shaped by technological progress, government initiatives supporting renewable energy and electric vehicles, and the changing dynamics of energy storage solutions. With the increasing popularity of electric vehicles and the expansion of renewable energy projects, there is anticipated significant growth in the demand for battery metals.
The global battery metals market is estimated to grow to more than $28 billion by 2033 growing at a CAGR of more than 8% between 2023 and 2033.
The battery metals market is propelled by the rising trend of electrifying transportation and the increasing need for storage solutions in renewable energy. With ongoing technological advancements and a heightened focus on sustainability, substantial transformations are expected in the market in the years ahead.
The interventional imaging market is currently experiencing growth and expansion, marked by advancements like 3D and 4D imaging and high-quality 4K imaging. Ongoing innovations, especially in faster, more efficient, point-of-care, or cost-effective imaging technologies, have the potential to further revitalize the market.
The global interventional imaging market is estimated to have a value of $8.66 billion in 2022. It is projected to reach $16.93 billion by 2033, demonstrating a CAGR of 6.71% throughout the forecast period (2023-2033).
According to Akash Mhaskar, Principal Analyst, BIS Research, “The global interventional imaging market is witnessing substantial growth, due to the excellent technologies, namely 3Dand 4D imaging utilized in the systems. The interventional imaging market growth is spurred by the rising need for advanced imaging solutions in various fields, including medical research, clinical diagnosis, and. Moreover, the market is embracing novel technologies and tools, driven by the increasing prevalence of diseases. Within this market, a wide array of technologies, equipment, reagents, and software is available to deliver high-quality imaging for a range of medical applications.”
Ranging from strategic nuclear deterrence and long-range strike missions to electronic warfare and intelligence gathering, advanced stealth bomber aircraft are versatile assets capable of adapting to changing threats and operational needs.
The assessment of stealth fighter and bomber market is expected to grow at a CAGR of 14.30% by 2035.
According to Rajat Srivastava, Principal Analyst, BIS Research, “The market for next-generation stealth fighters and bombers is likely driven by advancements in military technology, geopolitical dynamics, and defense spending trends. These aircraft, characterized by reduced radar cross-sections and advanced avionic systems, represent a significant investment in military capabilities. The development and procurement of such aircraft are often influenced by factors such as national security needs, technological advancements, budgetary constraints, and international relations.”
Bio-composites carve out a niche within the composite materials industry by emphasizing the use of natural fibers and matrices sourced from renewable materials like agricultural byproducts, wood, and bio-based polymers. This approach results in the creation of innovative and environmentally sustainable composite materials.
The global bio-composite materials market was valued at $11.90 billion in 2022, and it is expected to grow at a CAGR of 17.03% and reach $55.93 billion by 2032.
According to Sachin Singh, Lead Analyst at BIS Research, “The global bio-composite materials market is likely to grow multi-fold in the coming years during the forecast period, owing to the rapidly growing demand for renewable energy sources for power generation, automotive industry, construction projects, electronics, and consumer goods, among others.”
The introduction of autonomous surgical robots has markedly elevated surgical precision, minimizing the risk of human error. Consequently, this improvement has resulted in better surgical outcomes, decreased complications in operating rooms, and shorter recovery periods for patients. Technology's positive influence extends to enhancing the overall quality of healthcare services. Furthermore, the market for autonomous surgical robotics has spurred progress in the field of minimally invasive surgery.
The global autonomous surgical robotics market was valued at $1.81 billion in 2022 and is anticipated to reach $11.07 billion by 2033, witnessing a CAGR of 17.45% during the forecast period 2023-2033.
According to Akash Mhaskar, Principal Analyst, BIS Research, “The global autonomous surgical robotics market is on a trajectory of substantial growth, driven by the increasing adoption of minimally invasive surgeries, technological advancements, and need for enhanced surgical capabilities. Moreover, the use of artificial intelligence (AI) and haptics in surgical robotic platforms would give companies new opportunities to make work safer, increase productivity, and save valuable time for people.”
The wire and cable industry is experiencing a substantial shift propelled by an increasing focus on sustainability, environmental considerations, and technological progress. Playing a crucial role in diverse sectors such as renewable energy systems, building and construction, telecommunications and data centers, industrial applications, transportation infrastructure, healthcare facilities, and more, the wire and cable market is of utmost importance.
The sustainable wire and cable market was valued at $14.67 billion in 2022, and it is expected to grow at a CAGR of 18.74% to reach $79.06 billion by 2032.
According to Dhrubajyoti Narayan, Principal Analyst at BIS Research, “The sustainable wire and cable market is growing considerably and is expected to grow relatively faster during the forecast period. Sustainable wire and cable manufacturers are investing heavily in R&D to develop eco-friendly products. Moreover, companies in the sustainable wire and cable market are actively seeking partnerships and collaborations with end-user industry players.”
Climate change, international trade, intensified agriculture, and regulatory guidelines propel the growth of the pathogen or plant disease detection and monitoring market. Industry confronts a substantial threat, with plant pathogens causing up to a 40% annual loss in yield for economically crucial crops. Invasive pests contribute to an annual financial burden of at least $70 billion and contribute to the global decline of biodiversity.
The global pathogen or plant disease detection and monitoring industry was valued at $1.76 billion in 2022, and it is expected to grow with a CAGR of 9.68% during the forecast period 2023-2028 to reach $3.03 billion by 2028.
According to Debraj Chakraborty, Principal Analyst at BIS Research, “The pathogen or plant disease detection and monitoring market is rapidly growing, driven by technological advancements such as AI and IoT. There is a pressing need for innovative solutions to counter rising threats to global food security, emphasizing precision and early detection. Stakeholders recognize the economic and environmental benefits, signaling a paradigm shift in the industry with promising opportunities for growth and investment."
Sustainable mining solutions involve the use of electricity, clean and renewable energy, or advanced technologies like battery systems and fuel cells in mining practices and equipment. These approaches aim to drive mining operations with a minimized environmental footprint.
The sustainable mining solution market was valued at $2.15 billion in 2022, and it is expected to grow with a CAGR of 18.97% during the forecast period 2023-2032 to reach $12.37 billion by 2032.
According to Sachin Singh, Lead Analyst, BIS Research, “In recent years, there has been an increase in the emphasis on the adoption of sustainable technologies and practices within the mining industry. This shift is driven by a heightened focus on reducing carbon emissions and achieving net-zero targets, which has led to the emergence of sustainable mining solutions. In addition, governments worldwide are increasingly implementing a range of incentives and support measures to promote the adoption of electric mining vehicles.”
BIS Research is a leading provider of premium market intelligence focusing on emerging deep technologies with potential market-disrupting capabilities. We specialize in assessing the viability of technologies in their early stages. Our unique selling point is using secondary research data to estimate market trends, followed by validation from industry experts through primary research.
BIS Research exclusively covers a wide range of technology sectors, including precision medicine, medical devices, AI, aerospace, defense, and more. Their expertise extends to robotics, aerospace, and agriculture, making them a comprehensive source for cutting-edge market insights.
