Helicopters Market Key Trends And Opportunity Areas by Leading Players

The military sector of developing countries, such as India and China, is focusing on replacing its aging helicopter fleet, owing to which aerospace companies from the West are introducing their offerings in such countries. The replacement of old helicopters with new ones will help in reducing terrorism activities on international borders and domestic territory, by helping in more-effective patrolling and attack missions. Thus, the surging number of anti-terrorism activities in emerging economies will boost the deployment of military helicopters here.

In addition, the burgeoning demand for helicopters equipped with state-of-the-art technologies will drive the helicopters market at a CAGR of 3.4% during the forecast period (2017–2023). According to P&S Intelligence, the market was valued at $25.3 billion in 2016, and it is expected to generate over $31.8 billion revenue by 2023. Over the years, several technological advancements have been implemented in the engine, airframe, and emission systems of helicopters. These developments have resulted in the creation of more-resilient and sustainable helicopters that can operate in varying environmental conditions.

These helicopters are manufactured by Russian Helicopters JSC, The Boeing Company, Robinson Helicopter Co., MD Helicopters Inc., Lockheed Martin Corp., Hindustan Aeronautics Ltd., Airbus SE, Kaman Corp., Leonardo S.p.A., MD Helicopters Inc., Textron Inc., and Bell Textron Inc. At present, these companies are introducing new products and engaging in collaborations to offer their helicopters to more clients. For example, in April 2017, Airbus Helicopters signed an exclusive cooperation agreement with IAR Brasov for the H215M helicopter. With this agreement, IAR Brasov has become the primary contractor for the H215M helicopter for any future need of the Ministry of National Defence of Romania.

Geographically, North America held the largest share in the helicopters market in 2016, and it is projected to retain its dominance throughout the forecast period. This can be credited to the increasing exploration and production (E&P) activities propelling the deployment of helicopters in the oil and gas industry. Whereas, Latin America (LATAM) is expected to witness the fastest growth during the forecast period. LATAM countries, such as Brazil and Mexico, are extensively deploying civil helicopters in their fleets.

Thus, the rising technological advancements in helicopters and the surging focus of developing countries on replacing aging helicopters with new ones will fuel the production of such airborne vehicles worldwide.

Why is Electric Vehicle Industry Booming?

The COVID-19 pandemic has massively hampered the progress of the global electric vehicle (EV) industry. As a result, the industry fell by nearly 15% in 2020 in comparison to the sales recorded in 2019. Moreover, electric vehicle sales fell to 1.8 million units in 2020 from the 2.1 million units recorded in 2019, and the market recorded a decline of 43% in comparison to the forecast done for 2020 before the pandemic. 

This is attributed to the sharp fall in vehicle manufacturing and sales, due to the imposition of lockdowns and restrictions on mobility in several countries. However, the impact of these lockdowns has been less severe on the electric vehicle industry, with the market recording a reduction in its gross value added (GVA) by 14–16% (automobile production) in 2020. China, which is the biggest EV market in the world, recorded a sharp decline in EV sales because of the pandemic.

In the country, the decline in EV sales was the largest in February, with car sales dropping to 16,000 units, and recording a fall of nearly 60% from the number recorded in February 2019. However, the sales picked up sharply during April and reached nearly 80% of the April 2019 number. Furthermore, the sales of plug-in cars were down by 32% in May 2020 in comparison to the previous year. 

It is expected that the Chinese EV industry will see an overall fall of 14% in 2020. The COVID-19 impact on the EV industry in the U.S. has been quite severe. The lockdown measures have been hugely unsuccessful in controlling the spread of the virus, and thus, the demand for electric vehicles fell steeply in 2020. However, the industry is exhibiting strong growth in the European region, even during the pandemic. 

In many European countries such as the U.K., Germany, Italy, and France, COVID-19 impact on the EV industry has been quite positive, with EV sales rising to more than 145 thousand units in the first four months of 2020, and recording an increment of around 90% from the number reported in 2019. In Norway, EV sales during the first four months of 2020 remained the same as in 2019, as per the observations of the market research company, P&S Intelligence.

In Germany, the government announced increment in electric vehicle purchase subsidies in February 2020. In Italy, the sales of electric cars grew considerably, on account of the system launched in the country in 2019. One major way in which the COVID-19 impact on the EV industry is visible is that it has made many EV market players and industry stakeholders re-examine their plans and strategies and prepare accordingly for the auto industry’s long- and medium-term growth. 

Moreover, the sales of EV will shoot up in the post-COVID world, as people will prefer using personal vehicles over shared cabs or public transport. Many major players operating in the electric vehicle industry such as BYD Company Ltd., Tesla, Inc., General Motors Company, and Toyota Motor Corporation are increasingly focusing on taking measures such as conducting regular sanitization of the workstations and within the factor premises, ensuring the delivery of sanitized products, and maintaining social distancing with the dealerships.

Digital Freight Forwarding Market Statistics, Development and Growth 2030

With the burgeoning requirement for freight safety and time-controlled deliveries, surge in global and domestic trade, and increasing adoption of smart technologies such as artificial intelligence (AI), big data analytical solutions, and internet of things (IoT), the demand for digital freight forwarding is rising sharply across the world. Big data analytics and other enterprise management suites (ERP) are used for handling many complex tasks and operations, thereby recuing the dependency on human work, which often leads to operation delays, miscalculations, and inefficiencies. 

Moreover, with the growing demand for greater accuracy in product deliveries, shorter delivery time periods, and higher effectiveness of freight operations, the adoption of advanced technologies is surging in the industry. This is subsequently driving the growth of the global digital freight forwarding market. DHL International GmbH, J.B. Hunt Transport Services Inc., Schneider National, UTi Worldwide, C.H. Robinson Worldwide, Inc., and Descartes are some of the major digital freight forwarders across the world. These organizations are actively focusing on reducing the reliance of human workers for contacting carriers, scheduling deliveries, controlling fleet operations, and negotiating rates.

Forwarders, shippers, carriers, brokers, and third-party logistics (3PLs) are the major end users of digital freight forwarding solutions. Out of these, the adoption of these solutions is predicted to be the highest by 3PLs in the coming years. This will be due to the fact that 3PLs hold an important position in the overall supply chain, as they incorporate the operations of transportation and warehousing services in order to cater to the customer requirements and meet the market conditions. 

Road freight, air freight, ocean freight, and rail freight are the major modes via which digital freight forwarding solutions are deployed. Out of these, the demand for the ocean freight modes is predicted to explode in the coming years, primarily because of the fact that a majority of the worldwide trade takes place through oceans and seas. However, the popularity of the air freight mode will also surge in the upcoming years, owing to the growing requirement for brisk product delivery speeds, on account of the soaring e-commerce sales.

Across the world, the demand for digital freight forwarding solutions was the highest in North America in 2019, as per the findings of P&S Intelligence, a market research company based in India. This is ascribed to the fact that the U.S. is the global leader in international trade. Additionally, many digital freight forwarders are based out of North America. However, the digital freight forwarding market is also predicted to register the fastest growth in Asia-Pacific (APAC) in the upcoming years, because of the presence of special economic zones (SEZ) and the expansion of manufacturing bases in the region.

Hence, it is safe to say that the demand for digital freight forwarding solutions will soar in the years to come, primarily because of the booming international and domestic trade and soaring e-commerce sales all over the world. 

Automotive Camera Module Market: What are the Key Growth Factors?

The Global New Car Assessment Programme (Global NACP) launched by the Towards Zero Foundation aims to create a world that is free from road fatalities and serious injuries. This programme supports the democratization of vehicle safety by encouraging the adoption of advanced automotive designs and technologies across the world. Additionally, NACP also aspires to promote the deployment of vehicle safety technologies with proven effectiveness by increasing public awareness regarding such features and supporting their mandatory application. To comply with the safety standards of this programme, automakers are increasingly integrating automotive camera modules in their offerings.

Additionally, the accelerating demand for autonomous and luxury vehicles will also contribute to the progress of the automotive camera module market during 2020–2030. According to the Autonomous Vehicle Implementation Predictions: Implications for Transport Planning, published by the Victoria Transportation Policy Institute, autonomous vehicles will be reliable and safe by 2025 and maybe commercially available in several parts of the world by 2030. As per this report, at least half of the new vehicles will be autonomous by 2045.

Automotive camera modules offered by Hyundai Mobis Co. Ltd., Magna International Inc., STONKAM Co. Ltd., OmniVision Technologies Inc., DENSO Corporation, Autoliv Inc., Robert Bosch GmbH, Clarion Co. Ltd., and Valeo SA are used for lane departure warning (LDW), autonomous emergency braking (AEB), adaptive cruise control (ACC), blind spot detection (BSD), and park assist (PA) applications in vehicles. Camera modules being manufactured by these companies are based on digital, infrared, and thermal technologies. In the coming years, thermal cameras will be integrated at the highest rate, due to their surging use in night vision systems.

According to P&S Intelligence, North America will dominate the automotive camera module market in the forthcoming years, due to the booming demand for luxury vehicles and increasing installation of ADAS in passenger cars and commercial vehicles in the region. Whereas, the European region is expected to emerge as the second-largest consumer of automotive camera modules in the upcoming years. This will be due to the surging implementation of government regulations that encourage the installation of safety features and ADAS in automobiles, primarily in passenger cars.

Thus, the soaring prevalence of road accidents and burgeoning demand for autonomous and luxury vehicles will propel the usage of automotive camera modules in the coming years.

Boom Expected in India Automotive HMI Market in Future

The burgeoning requirement for in-vehicle connectivity is fueling the demand for automotive HMI in India. Nowadays, people want to stay connected with the outer world, even while traveling. Moreover, automobiles are increasingly becoming more connected with the outer world via cloud services. Due to the changing customer preferences, automotive manufacturing companies are launching partnerships with consumer electronic or information technology (IT) vendors in order to integrate in-vehicle connectivity features in their offerings.

For instance, AirWire Technologies, which is a U.S. based company, received a contract from Reliance Jio Infocom Ltd., which is a telecom operator in India, for manufacturing connected car devices. Additionally, Reliance Jio Infocom Ltd. is currently in talks with leading automobile manufacturers— Hyundai Motor India and Maruti Suzuki India Ltd.— for installing connected car devices in their passenger vehicles. The incorporation of these devices in passenger vehicles will allow passengers to access services such as entertainment, telematics, location-based apps, and WiFi hotspot. 

Increasing installation of these features is driving the demand for HMIs, as these devices are required for displaying the information and enabling smoother interaction of users with in-vehicle connectivity systems. These factors are fueling the expansion of the Indian automotive HMI market. Additionally, the soaring sales of vehicles in the country, on account of the booming population and increasing urbanization rate, are also driving the growth of the Indian automotive HMI market. According to the India Brand Equity Foundation (IBEF), the sales of automobiles grew in the country at a CAGR of 1.29% from FY16 to FY20 and reached 21.55 million units in FY20.

Hence, it can be said without any hesitation that the demand for automotive HMI systems will surge in India in the coming years, mainly because of the rising requirement for in-vehicle connectivity features and the soaring sales of premium cars in the country.

What are Factors Pushing Up Demand for Artificial Intelligence in Transportation in APAC?

The advent of autonomous vehicles has led to the wide-scale integration of artificial intelligence (AI) technology in the transportation sector. AI is a primary technology for autonomous driving systems, as it is the only technology that allows real-time and reliable identification of objects around the vehicle. Owing to the burgeoning demand for autonomous vehicles, leading automotive original equipment manufacturers (OEMs) are making hefty investments in the advancement of autonomous technology for optimizing self-driving technology.

Moreover, the soaring focus of transportation companies on reducing their operational costs will help the AI in transportation market advance at a CAGR of 16.5% during 2018–2023. The market was valued at $1.4 billion in 2017 and it is expected to reach $3.5 billion revenue by 2023. The integration of AI solutions aids in reducing costs and improves the operations of such companies. Additionally, the adoption of AI-enabled solutions, such as adaptive cruise control (ACC) systems and auto emergency braking (AEB) systems helps in reducing driver fatigue and preventing potential road accidents, thereby saving lives and curtailing product delivery times.

Besides, the increasing adoption of truck platooning will also fuel the integration of AI technology in the transportation sector in the coming years. Platooning is extremely necessary for achieving the objective of autonomous driving, and it offers several advantages such as curtailment in emission rates, reduction in fuel consumption, and improvement in safety features. In recent years, many countries have taken several initiatives to allow truck platooning to make road transport cleaner, safer, and more efficient in the future.

Therefore, with the escalating focus of governments and transportation companies on road safety, automotive OEMs, such as Scania Group, Continental AG, Volvo Group, Intel Corp., Daimler AG, NVIDIA Corp., Robert Bosch GmbH, PACCAR Inc., and Valeo SA are increasingly integrating AI solutions in their vehicles. To offer advanced technologies to their customers, such OEMs are primarily focusing on partnerships and establishing new research centers. For instance, in February 2018, NVIDIA Corp. and Continental AG announced a partnership to develop AI-supported self-driving vehicle systems based on the NVIDIA DRIVE platform, for level 3 autonomous vehicles. 

According to P&S Intelligence, North America will dominate the AI in transportation market in the foreseeable future, owing to the extensive sales of premium trucks in the region. The increasing regulatory developments related to compliance, safety, and accountability (CSA) and mounting investments being made in autonomous trucks in the U.S. will fuel the adoption of AI in the North American transportation sector in the coming years. For instance, the Automated Vehicles Comprehensive Plan developed by the U.S. Department of Transportation (USDOT) aims to prepare the country’s transportation system, promote collaborations and transparency, and modernize the regulatory environment.

Whereas, Asia-Pacific (APAC) is expected to integrate AI in the transportation sector at the fastest pace in the forthcoming years. This can be primarily attributed to the highest sales of trucks in the region and the rapid use of AI solutions in transportation in China and Japan. In the coming years, the transportation industry of Japan will adopt AI solutions at the highest rate, due to the maturing truck market of the country. Furthermore, China is also expected to integrate AI features in the trucks at a significant rate, owing to the growing digitization in the transport sector of the country. 

Thus, the rising focus of transportation companies and governments on reducing operational costs and surging adoption of truck platooning will augment the integration of AI technology in the transportation sector in the foreseeable future.

Used Car Market to Record CAGR of 8.7% and Increase in Revenue by 2030

With the increasing lifespan of vehicles and the falling demand for new automobiles, the sales of used cars are rising sharply across the world. Moreover, the surging popularity of e-commerce and online technologies, on account of the growing penetration of the internet, has massively propelled the sales of used cars in several countries. According to the World Bank, around 49.0% of the people all over the world were using the internet in 2017. The e-commerce platforms are allowing used car owners and dealers to advertise their automobiles and raise public awareness about these vehicles.

This not only smoothens the overall sales process but also enables a greater number of stakeholders to buy and sell cars online. Besides, the entry of organized dealers in the used car market has also contributed massively toward the booming sales of used cars. In countries such as India, Mexico, Brazil, and China, unorganized sellers have always dominated the industry. Traditionally, the primary stakeholders were individuals instead of organizations, which made it very difficult to establish trust between buyers and sellers. 

Geographically, the sales of used cars were observed to be the highest in North America during the last few years. Whereas, the demand for these cars is predicted to explode in the Latin America, Middle East, & Africa (LAMEA) region in the coming years. This will be because of the booming manufacturing of automobiles and surging disposable income of people in developing countries such as Mexico, Argentina, and Brazil. Furthermore, many unorganized sellers are conducting their operations in Middle Eastern countries such as the U.A.E.

Hence, it is safe to say that the sales of used cars will shoot up in the coming years, primarily because of the growing operations of organized sellers and the surging popularity of e-commerce and online platforms all over the world. 

What is the Potential Demand for Automotive Thermoplastics?

The mushrooming popularity of lightweight and fuel-efficient vehicles is pushing up the worldwide demand for automotive thermoplastics. This is because thermoplastic components are extensively used for reducing the weight of the automobile, which, in turn, causes a sharp rise in its fuel economy. Moreover, as thermoplastics are heavily used in various applications in the automobile industry, the expansion of this industry, owing to the burgeoning manufacturing and sales of automobiles, especially in the Asia-Pacific (APAC) region, is driving their demand across the world.

According to the Organisation Internationale des Constructeurs d’Automobiles, 77,971,234 automobiles were sold all over the world in 2020. Furthermore, as per the India Brand Equity Foundation (IBEF), the automotive industry in India is predicted to witness its value rise to Rs. 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. These materials are being increasingly used in the manufacturing of several automobile parts, such as bearing parts, vehicle-body, and battery frames. Due to these factors, the value of the global automotive thermoplastics market will surge massively in the coming years.

For instance, according to the estimates of the IBEF, the automobile industry in India will exhibit huge expansion in 2021–2022. Additionally, the country will witness a sharp surge in the sales of electric vehicles, particularly two-wheelers, in 2021–2022. One of the major trends currently being witnessed in the automotive thermoplastics market is the growing adoption of carbon fiber reinforced plastics (CFRP), produced from thermoplastics, in racing and luxury vehicles.

This is attributed to the various beneficial characteristics of these parts and the several advantages of using them over the conventionally used plastics. For example, the use of CFRP-based components assists vehicle manufacturers in producing lightweight and high strength-exhibiting vehicles. BASF SE, Toray Industries Inc., Nippon Sheet Glass Co. Ltd., Quickstep Holdings Ltd., Celanese Corp., Gurit Holding AG, Jushi Group Co. Ltd., Saudi Basic Industries Corp. (SABIC), Teijin Ltd., and Dow Chemical Co. Ltd. are some of the leading automotive thermoplastic producing companies across the world.

Thus, it can be said with confidence that the demand for automotive thermoplastics will explode in the coming years, mainly because of the growing requirement for lightweight vehicles and the expansion of the automotive industry across the world.

Malaysia Micromobility Market to Grow at a Healthy 99.9% Value CAGR Throughout 2030

The Malaysian micromobility market revenue stood at $2.4 million in 2020, and it is predicted to rise to $4,549.8 million by 2030. Furthermore, the market will demonstrate a CAGR of 99.9% from 2021 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The major market growth drivers are the surging requirement for micromobility services for first- and last-mile commute and convenient and cost-effective mobility options and the burgeoning demand for mitigating road congestion in urban areas. 

Micromobility services are being increasingly adopted in Malaysia for first- and last-mile commute, owing to their affordable rates and ability to provide greater convenience than conventional mobility services. These services are generally provided via the station-less or dock-less model, which enables customers to drop off their vehicles at any location as per their convenience. For instance, the popularity of bike sharing services has grown considerably in the country in recent years, owing to their ability to provide low-cost transportation. 

Additionally, micromobility services are highly affordable, unlike personal vehicle ownership, which usually requires huge investments, owing to fuel costs, maintenance charges, insurance costs, and parking expenses. When availing micromobility services, users can make payments, simply on the basis of their usage, while the mobility service providers manage additional expenses, such as fuel costs, insurance charges, parking costs, and maintenance charges. Thus, the cost-effectiveness and convenience of shared micromobility services are driving the expansion of the Malaysian micromobility market. 

When sharing system is taken into consideration, the Malaysian micromobility market is classified into dockless and docked. Between the two, the dockless category contributed higher revenue to the market during the last few years. This was because of the greater convenience and requirement for less efforts for renting micromobility vehicles under this sharing system in comparison to the docked sharing system. In addition, this sharing system provides greater flexibility in parking, which is further propelling the advancement of the category in the market. 

Hence, it is safe to say that the market will demonstrate rapid expansion in the coming years, mainly because of the rising requirement for cheaper and convenient mobility options and surging road congestion in urban areas in the country.

Why is Global Ride-Hailing Market Predicted to Boom in Future?

Around the world, owning a vehicle is becoming more and more costly because of the increasing petrol (gasoline) and diesel prices, insurance premiums, and many other expenses that are associated with it. Therefore, many people in cities are not buying vehicles, while those who own one are using them sparingly. Instead, they are now opting for shared mobility services to enjoy the same facilities as offered by their own vehicle, without actually needing to own them.

As per P&S Intelligence, due to the cost-effectiveness of such services, the ride-hailing market value is projected to rise to $120.2 billion by 2024 from $50.4 billion in 2018, at a high 13.0% CAGR between 2019 and 2024. In the last decade, such shared transportation service providers have received heavy funding, which has helped them expand around the world. For instance, Uber raised $11-million funding in February 2011 and another $37 million in December that year. Similarly, Ola raised funding of $200 million (INR 1,400 crore) in 2019.

A key reason large investment bankers and other multinational firms are showing interest in ride hailing is the strong government support for this concept. With the increasing number of vehicles on the roads, the problem of air pollution is becoming graver every year. Moreover, this also causes traffic congestion, which, in turn, leads to the loss of productivity at offices, as people are spending long hours in traffic jams. To remedy both these issues, countries are promoting ride hailing and other shared mobility services, so that the number of private vehicles on the roads can be brought down as much as possible.

To further reduce the emission of harmful gases into the atmosphere, such companies are integrating electric vehicles (EV) into their fleets. The governments of several countries are offering huge purchase subsidies and tax rebates on the purchase of such automobiles, which is allowing transit companies to procure them. For instance, Ola Electric had planned to deploy Honda Motor Company’s electric cars in its pan-India fleet in 2021. Additionally, by 2017, Chinese shared mobility major Didi Chuxing Inc. had over 260,000 EVs in its ride hailing fleet.

All such companies are providing ride hailing services to daily/weekly, monthly, and occasional commuters. As this concept is yet to be integrated fully into people’s everyday life, these services are currently majorly availed of by occasional commuters. Most of the riders are those who are visiting friends and family members or stepping out for once-in-a-while chores. In the coming years though, the usage of this service by daily/weekly commuters will rise rapidly, as corporate houses enter into partnerships with ride-hailing companies to fulfill their employees’ commuting needs.

Since most of the major service providers are based in Asian countries, Asia-Pacific (APAC) has been the largest ride-hailing market till now. Additionally, the burgeoning urban population of India and China is leading to the rising demand for transportation services. However, as a lot of the people in the cities here still cannot afford vehicles, they are opting for shared mobility. Moreover, these are two of the most-polluted countries in the world, which is why their governments are strongly encouraging people to use less of their personal vehicles.

In the coming years, service providers are expected to witness a massive increase in their revenue in the Middle Eastern and African (MEA) and Latin American (LATAM) regions. In these regions too, the urban population is increasing, which is resulting in the surging demand for cheap short-distance transportation. Moreover, the ride hailing space in these countries is almost unexplored, which is why service providers are expected to make rapid inroads here.

Hence, with the rising need for cost-effective urban commute and the increasing environmental awareness, ride-hailing companies will witness a growing ridership in the near future.

Automated Guided Vehicles Market to See Massive Growth by 2030

The e-commerce industry is flourishing across the globe, particularly in emerging economies, including Brazil, China, and India. With the advent of online shopping platforms and hassle-free home delivery, people can now easily choose from a wide variety of things. Moreover, the disposable income of people in developed and developing countries is increasing as well, which is why they are able to spend more on different items. As the industry is witnessing growth, the need for increasing productivity and efficiency in warehouses is rising swiftly as well. Attributed to this, different companies in the e-commerce industry are increasingly making use of automated guided vehicles. 

Also known as self-guided vehicles, automated guided vehicles are load carriers or material handling systems which travel throughout distribution centers, warehouses, or manufacturing facilities autonomously, i.e., without a driver or operator. For example, Amazon Inc. makes use of robots called drives for delivering large stacks of products to the human workforce. The robots follow a set path in the warehouse and have the ability to detect obstacles in their path. Owing to such attributes, the global automated guided vehicles market is expected to progress at a significant pace in the years to come. 

Forklift trucks, tow vehicles, assembly line vehicles, unit load carriers, and pallet trucks are the different types of automated guided vehicles, out of which, the demand for tow vehicles was the highest in the past. This is because of the rising replacement and adoption of traditional tow vehicles in different industries. Take for example Tesla Inc., a major automaker, which has deployed these vehicles in its Gigafactory. The machine makes use of navigational beacons for making its way through the production facility. 

These automated vehicles make use of different navigational technologies to get around, including vision guidance, laser guidance, optical tape guidance, magnetic guidance, and inductive guidance. The demand for automated guided vehicles with laser guidance navigational technology is predicted to be the highest in the years to come. Other than this, the demand for vehicles with vision guidance technology is also projected to rise considerably in the near future. The vision guidance technology enable automated guided vehicles to build a 3D map, which is done by taking a series of pictures, while they are operating in the warehouse. A number of industries make use of these vehicles, including retail, automotive, aerospace, food & beverages, and manufacturing. 

Geographically, North America emerged as the largest automated guided vehicles market in the past, which can be ascribed to the rapid integration of emerging technologies, such as internet of things, augmented reality, and virtual reality, in production and inventory management processes and increasing warehouse automation rate in the region. Apart from this, the demand for these vehicles is also expected to increase in the Asia-Pacific region, owing to the expanding e-commerce industry, automotive, and consumer electronics industries. Furthermore, the growing logistics industry in the region is also driving the demand for automated guided vehicles.

Hence, the demand for automated guided vehicles is predicted to increase due to the growth of the e-commerce industry and need for automation in warehouses.  

E-Mobility Services Market to Witness Stunning Growth

In this era of continuous inflation, people are finding sharing things a better option than buying them. One of the aspects of daily life where this new ideology is the most visible is transportation. Instead of buying a car, scooter, or motorcycle, people around the world are opting for car rental, ride hailing, carsharing, and two-wheeler sharing services. Not only are these services convenient, but also available throughout the day, bookable via mobile apps. The popularity of these sharing services is due to the fact that the fuel, insurance, parking, and maintenance cost doesn’t have to be borne by riders, but the sharing service provider.

And, just like consumers, even sharing service providers are now looking to cut their expenditure, which is continuously rising on account of the increasing gasoline and diesel prices. This is why they are integrating more electric vehicles (EVs) in their fleet, as the cost of using a vehicle charging facility is a lot less than that for diesel and gasoline. As per P&S Intelligence, this is why the global e-mobility services market will grow from $3,189.8 million in 2019 to $78,898.3 million by 2030, at a 40.7% CAGR between 2020 and 2030.

However, the major reason behind the increasing adoption of EVs in shared mobility fleets is still environmental concerns. Conventional vehicles release heavy amounts of greenhouse gas (GHG) emissions, which not only cause breathing problems, such as chronic bronchitis and asthma, but are also leading to climate change and global warming. For this, the Paris Agreement was signed in 2015, wherein countries agreed to take concrete steps to reduce their carbon emissions and create a more-sustainable economy.

Out of all the services mentioned above, two-wheeler sharing services have been the most popular around the world till now. These services are cost-effective and easily available, and they also solve the problem of last-mile commuting to a large extent. For instance, for traveling to their offices or homes from metro stations and vice versa, people are opting for shared two-wheelers, instead of full-fledged cabs. This is consistent with the fact that among the various commuting purposes, viz. occasional, last-mile, and daily, last-mile commuting has been done the most via e-mobility services.

But, the demand for ride hailing services is also growing rapidly, as related companies, such as Uber and Ola, are taking numerous initiatives and expanding their EV fleet across countries. With an increasing number of college goers and young professionals, who have to travel a significant distance between their home and destination, the demand for cab services is rising. This is because a lot of such people still cannot afford to buy vehicles for themselves. Additionally, many of them are choosing not to purchase automobiles and opting for shared mobility instead, to save money.

Due to the increasing popularity of the e-mobility concept, even automakers are entering the niche, rather than just offering their vehicles to sharing service providers. For instance, at the 2018 Consumer Electronics Show (CES), Toyota Motor Company, one of the largest automakers, by sales volume, announced plans to offer shared mobility services on EVs. By 2020, the company had planned to launch the e-Palette self-driving EV, via which it will offer the Autono shared mobility service.

Asia-Pacific (APAC) has been the largest e-mobility services market till now, because of the wide popularity of these services, especially bike sharing, in China. The country, along with Japan and India, is infamous for its soaring air pollution levels, which is why governments here have implemented stringent emission-control policies and are offering support to EV manufacturers and users and e-mobility service companies. For the same reasons, the demand for these services is expected to rise sharply in Latin American, Middle Eastern, and African countries in the future.

Thus, as air pollution continues to take its toll and fossil fuel reserves dwindle, leading to their increasing prices, shared mobility services offered via EVs would witness widespread adoption around the world.

On-Demand Logistics Market: What are the Key Growth Factors?

On-demand logistics solutions are being increasingly used by e-commerce companies, owing to the changing shopping pattern of customers and increasing consumer preference for fast shipping and competitive pricing. As traditional logistics alternatives are unable to meet the rising expectations of customers, e-commerce firms are deploying on-demand logistics services to manage inconsistent shipping needs and meet the sudden need for bulk supply. Thus, the flourishing e-commerce sector will create a huge requirement for on-demand logistics services in the forthcoming years.

Moreover, the mounting investments being made in the logistics industry, especially in the upcoming start-ups offering logistics services and services, will help the on-demand logistics market to accelerate at 21.1% CAGR during the forecast period (2020–2030). The market revenue stood at $9.1 billion in 2019 and it is projected to reach $75.0 billion by 2030. For instance, in July 2018, GoGoVan, a Hong Kong-based company, announced that it had raised $250 million in the initial phase of its new round of funding. 

In recent years, companies such as Lalamove EasyVan (Thailand) Co. Ltd., Shadowfax Technologies Pvt. Ltd., Stuart Delivery Ltd. (STUART), Shippify Inc., MENA 360 DWC-LLC (Fetchr), Bringg Delivery Technologies Ltd., Deliv Inc., Deliveree (Thailand) Co. Ltd., Uber Freight LLC, and GoGo Tech Ltd. (GoGoVan), have started to focus on geographical expansions and partnerships to meet the burgeoning need for cost-effective and convenient on-demand logistics services from various end-use industries. These companies deploy light commercial vehicles and medium/heavy commercial vehicles (M/HCVs) in their fleets to meet the logistics need of the industrial and e-commerce sectors.   

The end use segment of the on-demand logistics market is divided into business to business (B2B) and business to customer (B2C). Of these, the B2B category held the larger market share in 2019, due to the increasing adoption of app-based delivery services by enterprises to facilitate their delivery activities and magnify their profit margins. Whereas, the B2C category will demonstrate the faster growth throughout the forecast period, due to the easy accessibility of on-demand logistics services through mobile apps. Such apps ensure the safe delivery of goods as the users can track their products in real-time through them.  

According to P&S Intelligence, North America has emerged as the largest user of on-demand logistics solutions in the recent past. This was due to the extensive use of trucking services, majorly in the U.S., owing to the massive profit generated by the transportation and logistics industry in North America. Moreover, the increasing shortage of drivers and freight solutions will also create a huge requirement for more effective solutions such as on-demand logistics in the coming years.   

Whereas, the Asia-Pacific (APAC) on-demand logistics market is expected to exhibit the fastest growth throughout the forecast period, due to the existence of a vast consumer base in countries such as India and China, owing to their vast population. Moreover, the flourishing e-commerce sector and mounting disposable income of people in the region will also contribute to the market growth in the upcoming years. Besides, the rising technological advancements and escalating consumer awareness about the use of convenient logistics options will also drive the regional market growth in the foreseeable future.  

Therefore, the booming e-commerce industry and surging investments being made in the logistics industry will amplify the need for on-demand logistics solutions in the foreseeable future. 

What are Key Factors Driving the Growth of Automotive Digital Instrument Cluster Market?

The usage of automotive digital instrument clusters is escalating, due to the advent of autonomous vehicles. Although the number of driverless cars is minuscule in the automotive market at present, the demand is expected to surge in foreseeable future. To cater to this demand, manufacturers for automobile and associated technologies are working toward improving these transportation systems. Due to this reason, the automotive digital instrument cluster market is projected to display a CAGR of 21.8% during 2018–2023. The market was valued at $2.0 billion in 2017, which is projected to surpass $6.6 billion by 2023.

Moreover, the increasing penetration of premium cars has led to an increased demand for automotive digital instrument clusters in recent years. For instance, Mercedes-Benz and Audi sold 2.34 million and 1.84 million cars, respectively, in 2019. In the same year, Porsche and BMW delivered 0.28 million and 2.5 million cars, respectively. To increase their customer base, these marques are integrating advanced human–machine interface (HMI) features and products in their cars, thereby, increasing the application of automotive digital instrument clusters in the cars.

Besides, the automobile manufacturers are focusing on integrating big display-based digital instrument clusters in cars. This is because a larger panel offers a wide-view and provides a quick view of the information. Furthermore, the adoption of big display-based digital instrument clusters is expected to increase in future, due to the decreasing cost of central processing units (CPUs) and large liquid crystal display (LCD) displays. For instance, BMW is now installing a fully digital instrument cluster with a dimension greater than 12 inches across its 7 and 5 series.

Globally, the European automotive digital instrument cluster market generated the maximum demand in 2017, due to the high sales of premium and electric cars in the region. Furthermore, P&S Intelligence estimates that the Asia-Pacific (APAC) region will adopt the automotive digital instrument clusters at the highest pace in future. This can be attributed to the increasing adoption of electric cars in the region. Additionally, rising shift toward premium cars will display a greater penetration of these clusters in APAC.

Several players are involved in manufacturing of automotive digital instrument clusters, such as Continental AG, Visteon Corporation, Nippon Seiki Co. Ltd., DENSO Corporation, Magneti Marelli S.p.A., Yazaki Corporation, and Delphi Automotive PLC. Also, the market consists of key suppliers, including Intel Corporation, Panasonic Corporation, and NVIDIA Corporation. These players are opting for strategic measures, such as product launches and partnerships, to consolidate the competition. For example, Visteon Corporation entered into a strategic cooperation agreement with China Automotive Engineering Institute, to explore opportunities in domain controllers, touch screen displays, instrument clusters, and head-up displays (HUD) by using the Visteon DriveCore technology platform.

Similarly, Intel Corporation and Luxoft, a global IT service provider, jointly developed a solution for a new automotive reference platform (ARP) in January 2018. The platform was developed to power the digital cockpit of next-generation automobiles. The Intel ARP is a prototyping and modular development platform for advanced driver assistance systems (ADASs). Through this platform, the design for vehicle’s HUD, driver assistance system, cockpit occupant monitoring system, and instrument cluster are now integrated on the ARP.

These technological advancements and emergence of autonomous vehicles will, therefore, increase the adoption of automotive digital instrument clusters in coming years.

Electric Bus Market to Record CAGR of 48.8% and Increase in Revenue by 2025

 With the rapid deterioration of the environment and the escalating air pollution levels, owing to the large-scale usage of oil and gas-powered vehicles, the Indian government is enacting policies for facilitating the adoption of electric vehicles, including electric buses, in the country. For instance, the Ministry of Heavy Industry and Public Enterprise announced the eligibility criteria for electric passenger vehicles, two- and three-wheelers, and buses, as per which, the manufacturers and buyers of these vehicles will be able to avail the various benefits of the FAME II (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India) in March 2019.

Additionally, the government announced the plan for the deployment and procurement of 5,585 electric buses all over the country in August 2019, which when completed is predicted to result in savings of 1.2 billion liters of fuel. Besides these government initiatives, the surging manufacturing of electric buses is also expected to fuel the expansion of the Indian electric bus market in the coming years. Many local manufacturers are increasingly announcing collaborations with various foreign players for meeting the soaring requirement for electric buses in the country.

For example, GreenCell Mobility entered into a partnership with PMI Electro Mobility Solutions and intends to manufacture 350 electric buses in Uttar Pradesh in the coming years. This is expected to create 1,000 jobs in the country. Apart from these factors, the growing public awareness about the benefits of electric buses is also fueling the growth of the Indian electric bus market. Because of these factors, the revenue of the market is predicted to surge from $94.3 million in 2020 to $1,364.4 million by 2025, while the market will demonstrate a CAGR of 48.8% between 2021 and 2025 (forecast period). 

Depending on type, the market is divided into hybrid electric bus (HEB) and battery electric bus (BEB) categories. Of these, the BEB category is predicted to dominate the market during the forecast period. This will be because of the higher adoption of these buses and the existence of suitable infrastructure for the manufacturing of these buses in the country. Additionally, the government is providing various incentives and subsidies for promoting the use of these environment-friendly buses. 

In India, the sales of electric buses will surge at the fastest pace in the northern region in the coming years, as per the estimates of the market research company, P&S Intelligence. This is credited to the enactment of supportive policies regarding the deployment of electric buses in the region by both state and central governments. Furthermore, the implementation of strict emission norms and escalating air pollution levels are also propelling the advancement of the Indian electric bus market in the region. 

Hence, it can be said without any doubt that the demand for electric buses will soar in India in the coming years, primarily because of the rising public awareness about the environmental degradation caused by the large-scale usage of oil and gas-powered buses and the implementation of favorable policies and provision of financial incentives by the government. 

Growth of the Micromobility Market in Thailand

Factors such as the burgeoning demand for efficient transportation systems and increasing availability of cost-effective micromobility services are expected to drive the Thailand micromobility market at a robust CAGR, of 98.7%, during the forecast period (2021–2030). According to P&S Intelligence, the market was valued at $11.8 million in 2020 and it is expected to generate $15,102.1 million revenue by 2030. Moreover, the soaring air pollution levels and rising traffic congestion will also augment the demand for micromobility services in the country.

At present, the demand for micromobility services in Thailand is driven by the escalating demand for efficient transportation systems to bridge the first- and last-mile connectivity. First- and last-mile refers to the distance that commuters have to cover between a transportation hub to their point of origin or destination. Over the years, this distance has been covered by personal vehicles or walking because shared or public transport are incapable of bridging this gap. Thus, to meet the booming demand for a reliable last-mile connectivity system, the people of Thailand are opting for micromobility services.

In recent years, the mounting investments being made in micromobility service providing companies has become a major trend in the Thailand micromobility market. Several market players are focusing on procuring funds from prominent venture investors, automotive original equipment manufacturers (OEMs), and investors, owing to which the competition has intensified among them. Leading service providing startups, such as Neuron Mobility Pte. Ltd., Ofo Inc., and Grab Holdings Inc., have raised heavy funding to introduce new services and products to meet the last-mile connectivity needs.

At present, the Thailand micromobility market is fragmented due to the presence of numerous players, such as Grab Holdings Inc., Haupcar Company Limited, Ofo Inc., E-Revolution Co. Ltd., Falcon Go, Mobike, Anywheel Pte. Ltd., Innotra Co. Ltd., Neuron Mobility Pte. Ltd., and Go Scoot Bangkok. Currently, the market players are engaging in service expansion to gain a competitive edge. For example, in January 2018, Mobike started its operations in Chiang Mai, Thailand, with the support of the national government agencies, such as the Tourism Authority of Thailand (TAT) and the municipal council of the city, and local universities, businesses, and other community groups.

Thus, the mounting demand for efficient transportation systems and low-cost associated with micromobility services are the key contributors to the market growth.