Automotive Business Point

The  mobility as a service market​​ , which generated a revenue of $171.5 billion in 2018, is predicted to grow to $347.6 billion in 2024, at an 11.9% CAGR during 2019¬–2024 (forecast period). Car rental was the largest service type category in the market during 2014–2018 (historical period), as a result of the rapid shift from offline booking to online booking and expanding travel and tourism sector. A major trend in the mobility as a service market​​​ is the adoption of electric vehicles for sharing purposes. Concerned at the high pollution levels and fossil fuel prices, the government of various nations are formulating policies and offering incentives to encourage the usage of electric vehicles in sharing fleets. Additionally, several automotive giants are also taking efforts to offer mobility services on clean-energy vehicles. For instance, plans of launching a sharing service, solely on electric cars, were announced by Hyundai Motor Company in 2019. Request to get the sample pages

One of the major factors responsible for the increasing sales of automated guided vehicles is the flourishing e-commerce industry, especially in the developing nations such as India, Brazil, and China. For instance, the automated guided vehicles are extensively used in the Amazon Inc. warehouses (more than 200,000 globally) for delivering large stacks of products to the workers. These automated vehicles follow a fixed path around the warehouse and are equipped with various sensors and devices which allow them to detect the obstacles in their path and avoid collisions with them. The other major factors fuelling the rising adoption of automated guided vehicles in warehouses are the increasing safety concerns in manufacturing plants, rising labor shortages, and ballooning need for reducing the operational costs and increasing productivity in the manufacturing facilities throughout the world. In addition to this, many enterprises are increasingly preferring the utilization of automated sys

In the transport sector, efforts are being stepped up to encourage and impel people to adopt clean mobility. This is the primary reason for the  growth of the electric scooter and motorcycle market , which is projected to reach $13,864.0 million by 2025, at a 7.3% CAGR during 2018–2025 (forecast period). Being propelled only by an electric motor and battery, instead of an internal combustion engine, burning gasoline or diesel, such two-wheelers release no harmful gases into the environment, which is why governments around the world are pushing for their usage. Between motorcycles and scooters, the latter account for higher uptake, as they are more cost-effective than the former, and a wide range of scooter models are available around the world. In addition, electric mopeds and scooters are vastly popular among women in Asia-Pacific (APAC), who are increasingly using them for daily chores, such as grocery shopping and dropping and picking up children from schools, and also for commuting

In 2019, the Indian electric vehicle supply equipment (EVSE) market generated a revenue of $1,027.9 thousand and is expected to attain a value of $13,833.0 thousand in 2025, registering a 54.2% CAGR during the forecast period (2019–2025). On the basis of type, the AC chargers accounted for the major share of the market in 2019. During the forecast period, the DC chargers are predicted to grow at the faster pace, as the government is making extensive plans for installing fast-charging stations in tier-1 cities and along the expressways and highways. The private chargers category dominated the Indian electric vehicle supply equipment market  in 2019, due to the early adoption of these chargers in the country, higher requirement among customers for overnight charging at homes and commercial places, and low cost. The supportive government policies and initiatives is a major driving factor of the market. For example, the Faster Adoption and Manufacturing of (Hybrid & Electric) Vehicles

The world is in grave danger, as the high amounts of greenhouse gas (GHG) emissions are making the air fouler by the day. Whenever coal, natural gas or crude oil and its derivatives are burned, carbon dioxide, nitrogen oxides, carbon monoxide, sulfur dioxide, and other harmful gases are released into the atmosphere. These are not only making the earth hotter, but also creating difficulties in breathing. The transport sector is one of the major emitters of GHGs, which is why several steps are being taken to check it and reduce the rate of air quality degradation. One such effort has been the strong promotion of shared mobility services, as 3–4 people can travel in the same vehicle, which automatically helps bring down the number of automobiles in operation. As, still, most vehicles run on gasoline and diesel, shared mobility aids in bringing down pollution. This is one of the primary reasons the carsharing market size, which valued $5,571.2 million in 2018, is projected to grow to $10,8

One of the biggest factors responsible for the surge in the demand for electric vehicle components in India is the increasing sales of electric vehicles in the country. According to various reports and surveys, there were sales of 447.7 thousand electric three-wheelers, 2,000 electric passenger cars, and 32.4 thousand Electric Vehicle Component Market electric two-wheelers in India in 2019. The main factors fueling the ballooning sales of electric vehicles in the country are the presence of favorable government policies and the declining air quality in the country, due to the pollution caused by the fossil-fuel powered vehicles. The other major factor fueling the rising demand for electric vehicle components in India is the declining prices of these components in the country. Due to these factors, the revenue generated from the sales of electric vehicle components in India was found to be $536.1 million in 2019 and this number is predicted to increase considerably in the coming years.

In 2019, the global automotive sensors market share reached a value of $25,723.8 million and is expected to generate a revenue of $58,215.3 million in 2030, witnessing a 7.4% CAGR during the forecast period (2020–2030). On the basis of application, the powertrain application accounted for the largest volume share of the market in 2019. This is because of the greater utilization of these sensors in transmission, engine, and alternator of the traditional internal combustion engine vehicles. The advanced driver-assistance system (ADAS) application is predicted to grow at the fastest pace during the forecast period in the automotive sensors market. At the present time, ADAS sensors find applications in level 1, 2, and 3 autonomous cars. The requirement for these sensors is projected to increase because of the introduction of level 4 and level 5 autonomous vehicles in 2023 and 2025, respectively. The growing adoption of ADAS sensors is a major driving factor of the automotive sensors mark

The increasing adoption of plug-in electric vehicles (PEVs) is one of the biggest factors responsible for the surging demand for wireless electric vehicle (EV) charging stations across the world. For instance, in China, the sales of plug-in EVs were recorded to rise by almost 83% from 2017 to 2018. Moreover, the country observed 1.1 million sales of electric cars in 2018. Furthermore, 384,040 units of plug-in electric vehicles were sold in Europe in 2018, exhibiting an almost 33% rise in the sales of EVs from the previous year. Due to the increasing sales of electric vehicles, there has been a huge rise in the production of fast charging stations across the globe. Many charging station producing companies are increasingly making huge investments in research and development (R&D) in wireless technology. The dynamic wireless charging devices allow the efficient charging of EVs even while the vehicle is being driven. The other important factor boosting the popularity of wireless charg

The adoption of electric vehicles has risen significantly over the past few years, owing to the surging air pollution levels and rising consumer awareness. Major concerns regarding electric vehicles in the past was their low range and speed, high charging time, and lack of adequate charging infrastructure. However, now due to technological advancements, the performance of electrical vehicles has been enhanced, resulting in their increasing adoption. This, in turn, has led to growing investments in the charging infrastructure across the globe. The vendors in the domain are further investing in efficient and smart charging systems. It is due to these factors that the demand for electric vehicle communication controller (EVCC) is growing. EVCC is a major component for supporting communication between charger and car for rapid charging. The device acts as a gateway for exchanging information mutually through communication between the vehicle engine control unit and the external charger. EV