The orthopedic navigation systems market refers to the global industry that produces and sells navigation systems used in orthopedic surgeries. These systems are designed to assist surgeons in accurately placing implants, aligning bones, and performing other complex procedures. Navigation systems use advanced imaging technology to create a 3D map of the patient’s anatomy, which is then used to guide the surgeon during the procedure.
The market is driven by the increasing prevalence of orthopedic disorders, particularly among the elderly population. The rise in the number of orthopedic surgeries, including joint replacement surgeries, is expected to boost the demand for navigation systems in the coming years. Additionally, technological advancements in navigation systems, such as the integration of robotics, artificial intelligence, and augmented reality, are expected to create new growth opportunities in the market
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Key Takeaways from Market Study
- The global market for distributed energy storage systems is projected to grow 2.5X and reach US$ 10.6 billion by 2032.
- The market exhibited 7.2% CAGR between 2017 and 2021.
- Under battery type, lithium-ion batteries dominate with US$ 1.5 billion valuation in 2022.
- North America accounted for a market of 27.5% market in 2021.
- East Asia represents 21.5% market share in 2022.
- Distributed energy storage system sales are expected to increase at CAGRs of 11.4% and 9.4% in East Asia and North America, respectively.
Collaborations between various companies, from power, battery, and electric vehicles, to construct distributed energy storage systems has had a significant impact on overall market expansion. Advancements in storage systems such as enhanced power storage capacity, integration of smart features such as control and monitoring of power generation and consumption, use of synthetic hydrogen and methane, utilization of various distributed energy resources, and others have created significant market growth opportunities.
- Tensorpack T 200kWh/100kW distributed energy storage DES system, battery, and energy management system from Lingtan Intelligence were made available in June 2022. It integrated batteries, a thermal management system, a DC/AC bidirectional converter, and a fire protection system inside the cabinet.
- Gogoro, Taipower, and Enel X joined forces in October 2021 to provide bidirectional charging through their battery swapping stations. By utilizing more varied sources, this will broaden distributed energy storage systems.
- SimpliPhi Power and Lumin joined forces in September 2021 to release a user-friendly app to track the production, use, and management of storage systems.
Key Companies Profiled
- GENERAL ELECTRIC
- Hitachi Energy Ltd.
- Jabil Inc.
- Johnson Controls
- NextEra Energy Resources, LLC
- Juniper Networks
- Panasonic Corporation
- SAMSUNG SDI CO., LTD.
- Schneider Electric
- TOSHIBA CORPORATION