Vehicle-to-Vehicle Communication Market to See Massive Growth by 2030

With the rising incidence of road accidents, many original equipment manufacturers (OEMs) in the automobile industry are increasingly focusing on incorporating vehicle-to-vehicle (V2V) communication solutions in their products. In addition to this, the governments of many countries are also enacting policies for encouraging the adoption of these solutions in automobiles. As per the National Highway Traffic Safety Administration (NHTSA), V2V communication messages have a range of over 300m and can detect obstacles obscured by weather, traffic, or terrain.

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These solutions enhance the functionality of the crash avoidance systems that use cameras and radars for detecting collision threats, thereby reducing the chances of traffic rule violations and road accidents. Additionally, the growing deployment of connected cars is also propelling the demand for this technology, thereby fueling the expansion of the global vehicle-to-vehicle (V2V) communication market. As a result, the value of the market is predicted to grow from $14.5 billion in 2019 to $77.1 billion by 2030.

APAC will also witness a surge in strategic alliances between communication technology and automobile manufacturing companies in the upcoming years. The demand for this technology will also rise rapidly in Latin America, Middle East, and Africa (LAMEA) in the forthcoming years. This will be because of the increasing adoption of telematics systems in passenger cars and the soaring concerns being raised by various fleet companies in the region over the safety of their drivers and vehicle diagnostics and tracking.

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Hence, it can be said with confidence that the demand for the V2V communication technology will rise sharply in the coming years, mainly because of the growing deployment of connected cars and the surging requirement for improved vehicle safety across the world.

Demand for Artificial Turf Booming Globally

Artificial turf refers to the surface of synthetic fibers that are made to look like natural grass. In recent years, such surfaces have been replacing natural grass, due to their various advantages, such as high durability, less wear and tear, and low maintenance requirements. Besides, the usage of artificial turf also helps in reducing the consumption of water and other hazardous fertilizers and pesticides. Owing to the benefits associated with these surfaces, their usage has significantly surged in commercial facilities and residential lawns, apart from the sports arenas.

Artificial Turf Market Research Report

The artificial turf market has been witnessing a substantial surge due to the expansion of the construction industry. These surfaces are rapidly replacing natural grass in stadiums, sports fields, residential houses, and commercial gardens. For instance, the construction of eight new stadiums in Qatar, on account of the upcoming 2022 FIFA World Cup, will require a high amount of artificial turf. As these artificial surfaces do not require water, they are viable for use in water-scarce regions such as the Middle East.

With the upcoming sports events such as FIFA 2022 and 2020 Summer Olympics and expanding construction industry, on account of rapid urbanization, companies such as CCGrass, SIS Pitches, ForestGrass, TenCate Grass, Limonta Sport S.p.A., and Victoria PLC are producing artificial turf in huge quantity. Moreover, the rapid infrastructure development in emerging economies such as India and China like the building of smart cities, will augment the sales of artificial grass in the foreseeable future. Additionally, the increasing focus of oil-based economies, such as Saudi Arabia and Qatar, on the tourism and hospitality sectors will amplify the usage of artificial turf for landscaping purposes.

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According to P&S Intelligence, Europe generates a notable demand in the artificial turf market, due to the fast-paced replacement of grass surfaced sports arenas with artificial turf, owing to its environment-friendly characteristics and superior quality. As the region is extensively involved in golf, tennis, hockey, and football, Europe adopts a large volume of artificial turf. As Europe is home to large stadiums such as Camp Nou, Wembley, Croke Park, Twickenham, and Westfalenstadion, it requires artificial grass in high quantity.

Thus, the upcoming sports events and increasing construction activities will augment the need for artificial turf in the coming years.

Electric Loader Rickshaw Market in India Set to Exhibit Tremendous Growth in Coming Years

As per the India Brand Equity Foundation (IBEF), the e-commerce sector in the country is witnessing significant growth, and it is expected to surpass that of the U.S. to become the second-largest in the world by 2034. The prospering e-commerce sector, on account of the surging penetration of smartphones and the internet and changing consumption patterns, will augment the deployment of electric loader rickshaws for cargo delivery. Owing to this reason, the Indian electric loader rickshaw market will advance at a considerable rate during 2020–2030.

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The presence of such vehicles on Indian roads has surged in the last two years owing to the rising environmental concerns and technological advancements in the automobile industry. To mitigate the rising air pollution levels, the central government and state governments are offering incentives and subsidies on electric three-wheelers, thereby fueling the production and adoption of electric loader rickshaw across India. These vehicles can carry cargo loads of up to 450 kg, thus making them ideal for light-to-medium-duty urban freight transport operations.

According to P&S Intelligence, the Indian electric loader rickshaw market has a strong presence in Ahmedabad. Around 70% of all the electric rickshaws in Ahmedabad are loader rickshaws, whereas in Gurugram, 15%–20% are loader rickshaws. Moreover, the percentage of electric loaders is rising in the electric cargo three-wheeler fleet of Delhi. Apart from these, several cities of Uttar Pradesh, Madhya Pradesh, West Bengal, Bihar, Rajasthan, Punjab, Assam, and Jharkhand are adopting a significant number of electric loader rickshaws.

Electric Loader Rickshaw Market in India

The requirement for these three-wheelers in different states of India is met by Victory Electric Vehicles International Pvt. Ltd., Kinetic Green Energy & Power Solutions Ltd., Lohia Auto Industries, Hero Electric Vehicles Pvt. Ltd., and Terra Motors Corp. These companies are focusing on expanding their production capacities and introducing new and improved variants due to the favorable government policies and high preference for technologically advanced and energy-efficient vehicles.

Thus, the progressing e-commerce sector and rising government support will boost the number of electric loader rickshaws on Indian roads.

Automotive Battery Management System Market Set to Exhibit Tremendous Growth in Coming Years

A battery management system (BMS) is an intrinsic component of an automobile as it maintains the battery in operational condition, predicts battery life, and protects the storage units from damage. The system performs these tasks by controlling the charging process, protecting and balancing the cells, storing and monitoring historical operational data, and determining the state of health (SOH), remaining useful life (RUL), and state of charge (SOC) of the battery. This system aims to optimize the run-time per discharge cycle and the number of life cycles that can be attained by the battery during its lifetime.

Automotive Battery Management System Market

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This system is integrated into electric vehicles (EVs) and hybrid electric vehicles (HEVs) to improve the battery life and protect it from any damage. With the increasing environmental concerns, the sales of these vehicles have witnessed a significant spike in recent years. According to the International Energy Agency (IEA), more than 10.2 million EVs were in operation across the world in 2020. The surging adoption of these new-energy vehicles will thus support the automotive battery management system market growth in the coming years.

Resultingly, according to P&S Intelligence, Asia-Pacific (APAC) dominates the automotive battery management system market, wherein China is the leading procurer of such solutions. The dominance of APAC can be credited to the favorable initiatives and policies supporting the production of EVs in China. Apart from China, Japan and India are expected to procure automotive BMSs in abundance. Among many initiatives, the increasing attempts by governments to end the production and sales of diesel- and gasoline-powered vehicles will support the adoption of such systems, by amplifying EV sales.

Thus, the surging EV sales on account of the escalating environmental concerns and strong government support will boost the adoption of automotive BMSs in the foreseeable future.

Massive Growth in North American Autonomous Car Market Research Report by Forecast 2030

Rapid technological advancements have led to the widespread adoption of connected cars in North America. Unlike conventional passenger cars, new-age connected cars offer smartphone connectivity within the vehicle and with the world outside, traffic and collision warnings, roadside assistance, and real-time traffic monitoring. Moreover, it is easier to integrate the autonomous driving technology in connected cars as compared to conventional cars, as the former are already equipped with vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) connectivity, which is quintessential for driving autonomy.

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Thus, the burgeoning digitization rate in mobility solutions is stimulating research and development (R&D) on self-driving technologies in the region. This is expected to propel the North American autonomous car market for fully autonomous cars at a CAGR of 17.1% during 2023–2030. According to P&S Intelligence, the market is expected to reach $52.3 billion by 2030. Additionally, federal and state governments are supporting the development of autonomous cars, with 15 states of the U.S. already having enacted 18 related bills in 2018.

North American Autonomous Car Market

Furthermore, companies operating in the North American autonomous car market are entering into mergers, partnerships, and collaborations to minimize the financial risks involved in designing, testing, and manufacturing them and acquire the autonomous vehicle technology. For instance, General Motors Company has acquired Cruise Automation, a self-driving start-up, for $1 billion, to expand its technological base. Moreover, in 2018, Ford Motor Company and Walmart Inc. partnered to explore the potential of using self-driving cars for grocery and other consumer products’ delivery.

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Thus, the development of new technologies and growing focus of governments on the incorporation of autonomous driving features in mobility solutions will boost the demand for autonomous cars in the coming years.

Why Is Demand for Commercial Electric Vehicle Highest in Asia-Pacific?

The decreasing costs and improving operational efficiency of Lithium-ion batteries are some of the biggest factors causing the increasing adoption of commercial electric vehicles across the world. As per the industry experts, the average cost of lithium-ion battery packs for bulk orders decreased from approximately $642/kWh in 2012 to almost $209/kWh in 2017. As batteries account for nearly 40% of the total manufacturing cost of a commercial electric vehicle, their declining prices will significantly boost the manufacturing and sales of the commercial electric vehicles.

Commercial Electric Vehicle Market

Driven by the above-mentioned factors, the revenue generated from the worldwide sales of commercial electric vehicles is expected to rise from $144.5 billion in 2017 to $362.7 billion by 2025. The global commercial electric vehicle market is predicted to advance at a CAGR of 13.3% during the forecast period (2018–2025). There are two types of commercial electric vehicles available in the market — electric buses and electric trucks. Of these, the electric trucks recorded higher sales in 2017. This is owing to the banning diesel trucks in many countries and the burgeoning demand for the transportation of goods around the world.

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Geographically, the Asia-Pacific (APAC) region is expected to observe the highest and fastest growth in the adoption of commercial electric vehicles during the forecast period. In this region, China is currently witnessing the highest sales of commercial electric vehicles, owing to the presence of favorable government policies for commercial electric vehicles in the country. The commercial electric vehicle market is also observing huge progress in other APAC countries such as India, on account of the existence of several government policies and measures promoting the deployment of electric buses in private and government fleets, in the country.

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Hence, it can be said with full confidence that the demand for commercial electric vehicles will rise considerably throughout the world, in the coming years, because of the declining prices of the Lithium-ion batteries, increasing pollution levels, lower operating costs of these vehicles than the fossil fuels-powered vehicles, and the presence of favorable government policies regarding the deployment of commercial vehicles in several countries.

Demand for Organic Personal Care Products Booming Globally

Organic personal care products are primarily derived from natural sources, such as flowers, herbs, leaves, plant roots, essential oils, and barks. The natural components are combined with naturally occurring preservatives, emulsifiers, carrier agents, humectants, and surfactants. These natural ingredients induce anti-oxidation property and offer skin immunity to personal care products, such as skincare, oral care, and hair care products and color cosmetics. Among the various types of products, customers mostly opt for organic skincare products, due to the rising concerns regarding skincare and anti-aging.

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In recent years, the increasing awareness among customers regarding advantages of organic personal care products over synthetic products has supported the progress of the organic personal care products market. Additionally, the surging population of working-class women in emerging economies, such as India, China, and Brazil, will also fuel the consumption of such products in the coming years. According to the World Bank, in 2019, around 22.26% of the female population in India, within the age group of 15–64 years, were a part of the workforce of the country.

Organic Personal Care Products Market

According to P&S Intelligence, the APAC organic personal care products market will advance at the highest rate in the foreseeable future. This will be due to the soaring popularity of and concerns regarding hair and skincare products in India and China, and increasing disposable income of the people. Among APAC nations, Japan consumes organic personal care products at a considerable rate, due to the aging population that requires cosmetics in large quantities. 

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Thus, the surging customer awareness about organic products and the booming women workforce will augment the usage of organic personal care products in the coming years.  

Boom Expected in Automotive Telematics Market in Europe

The European government is actively implementing favorable policies to promote the incorporation of telematics technology in vehicles. For example, the European Commission has made 112-based eCall in-vehicle alarm systems mandatory in all new N1 (light-duty vehicles) and M1 (passenger cars), in the European Union (EU) member nations, since March 31, 2018. This alarm system is an in-built device that makes automatic calls to emergency services in road accident and triggers one or more airbags of the car during the accident. 

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Moreover, the augmenting demand for improved safety features in vehicles will propel the European automotive telematics market at a 16.1% CAGR during the forecast period (2020–2030). The market generated revenue of $7,340.3 million in 2019 and it is expected to reach $37,249.8 million by 2030. Congestion on roads and increasing number of road accidents have led to serious injuries and deaths in the region. These accidents are primarily caused due to human errors that can be reduced through the installation of different telematics devices. 

Automotive Telematics in  Europe 

Geographically, Germany accounted for the largest share in the European automotive telematics market in 2019 and it is expected to retain its dominance in the forecast period. This can be primarily ascribed to the implementation of government legislation related to vehicle safety. Additionally, growing awareness about telematics solutions and increasing innovations in technologies will supplement the market growth in the forecast period. This growth will also be supported by the rising adoption of telematics by fleet owners in the region. 

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With the growing focus on vehicle safety and the increasing intervention by the governments, the adoption of telematics devices will spike in the coming years in Europe.

Demand for Mobility as a Service Booming Globally

On account of the rising concerns regarding vehicular pollution, governments across the world are making efforts to introduce various regulations and policies to encourage the deployment of electric vehicles (EVs) in shared mobility services. Additionally, private companies are taking initiatives to induct EVs in these services. For example, Volkswagen AG, in 2018, announced the introduction of an all-electric carsharing service in Europe and North America, under the brand name WeShare. The company initially launched the service in Germany (Berlin) in June 2019, with 1,500 Volkswagen e-Golf cars.

Mobility as a Service Market 2021

Moreover, the cost-effectiveness and convenience offered by shared mobility services will fuel the mobility as a service (MaaS) market growth at a CAGR of 11.9% during the forecast period (2019–2024). At this rate, the value of the market is expected to surge from $171.5 billion in 2018 to $347.6 billion in 2024. Owning a private vehicle requires a high investment, which includes the vehicle cost, insurance premium, fuel cost, maintenance charges, and parking expenses. In this regard, shared mobility enables customers to enjoy the perks of personal vehicles without owning them, asusers are only obligated to pay based on the usage.

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Furthermore, P&S Intelligence projects that the European MaaS market will register the fastest growth during the forecast period. This can be ascribed to the implementation of an array of individual business models, which is leading to an expansion in the customer base and more competition. This has improved the overall pricing structure, which has further improvedthe customer perception toward the services. Moreover, most European countries are bound by the Paris Agreement, which mandates them to reduce the emission of greenhouse gases.

Thus, the growing population of the youth and rising need to cut down fuel expenses, along with the favorable government policies for EV adoption, are expected to expand the customer base for shared mobility services.

Demand for Baby Care Products Booming Globally

Compared to 490,292,000 during 1950–1955, 701,278,000 births took place around the globe during 2015–2020, as per the United Nations (UN). Raising babies is a lot of effort since they are helpless and completely dependent on grownups for at least a couple of years. Even after being weaned off the breastmilk, it takes some time for them to be able to ingest proper food. Similarly, their sensitive skin demands the highest level of hygiene and cleanliness. However, the soaps and other bathing and sanitary products used by adults are often harsh on babies’ skin, which is why the latter need specially formulated products.

Sales & Demand for Baby Care Products - Research Report

Thus, the increasing awareness on these issues has given birth to the baby care products market, which, as per P&S Intelligence, has a rather bright future ahead. Apart from the rising birth count, the decreasing child mortality rate is also leading to the growing demand for baby care products, as this means that more babies are surviving. According to the UN, from 12.494 million and 5.014 million in 1991, the number of under-five-year-old and newly born children dying dropped sharply to 5.189 million and 2.44 million, respectively, in 2019.

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Further, supermarkets and hypermarkets have started offering baby care products with an organic profile. Even though conventional products are created keeping children’s sensitive bodies in mind, they still contain chemicals, which can be harmful at times. Therefore, the demand for products containing organic ingredients is rising, as they are comparatively less harmful to the baby skin. Though these products are often more expensive than conventional ones, people are buying them aided by their increasing purchasing power.

Those who cannot yet afford premium products are going for mass products, which account for the higher sales. This is because most of the people on earth fall in the low- and middle-income groups, especially in developing countries. Overall, Asia-Pacific (APAC) is expected to witness the fastest growth in the baby care products market because of its vast population and high birth rate. Moreover, lifestyle magazines, social media, awareness campaigns, and TV shows are increasing the knowledge of people on this issue, which is why more of them are now focusing on childcare.

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Thus, with people’s rising awareness on baby care and their increasing income, the demand for the associated products will shoot up.

Automotive Bearings Market Set to Exhibit Tremendous Growth in Coming Years

 With the burgeoning number of automobiles on the roads, an increasing amount of greenhouse gases (GHGs) is being released into the atmosphere, which is a primary cause of air pollution, climate change, global warming, and ozone depletion. Moreover, air pollution also results in severe respiratory diseases, such as asthma, lung cancer, and chronic obstructive pulmonary disease (COPD). As a result, governments across the globe have begun implementing stringent regulations to control these emissions, which is bringing about a major technological transformation in the automotive industry.

As per P&S Intelligence, this factor will help the automotive bearing market value advance from $33.4 billion in 2018 to $53.3 billion by 2025, at a 6.9% CAGR between 2018 and 2025. Bearings are a mechanical element used wherever there are moving parts. As such motion creates friction, it increases the consumption of energy; therefore, bearings are used to reduce the friction and keep the machine energy-efficient. In automobiles, bearings find usage in the engine, wheel ends, steering columns, axles, transmissions, compressors, propulsion shafts, chassis, blowers, and mechanical fans.

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These bearings are mainly of three types: plain, ball, and roller. Among these, ball bearings are preferred as they are widely used in two-wheelers and passenger cars, two of the most-widely sold types of automobiles. In the coming years though, the usage of roller bearings is expected to rise rapidly as a result of the advancements in these components that allow for a greater reduction in friction and the amount of heat being generated. As a result, roller bearings are widely used in off-road and commercial vehicles, both of which are witnessing increasing sales.

Since the demand for these components is directly tied to the production and sales of vehicles, Asia-Pacific (APAC) has been the most-productive automotive bearing market till now. Led by China, South Korea, India, and Japan, APAC accounts for the highest automotive production in the world. The rising disposable income of the middle-class population is driving vehicle sales in these countries, which, in turn, is contributing to the problem of air pollution. Therefore, the use of advanced and lighter bearings is increasing to comply with the strict emission control regulations being implemented in regional countries.

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Hence, with the rising automotive production and sales and the need to curb GHG emissions, the usage of automotive bearings will continue to increase.

Boom Expected in ADAS Market in Future

One of the biggest factors propelling the demand for advanced driver assistance systems (ADAS) in India is the rising incidence of road accidents in the country. Since the last few years, there has been a massive surge in the prevalence of road accidents and fatalities in the country, which have consequently boosted the need for the installation of ADAS in vehicles in order to improve vehicular safety. The Government of India (GOI) intends to make the integration of ADAS in passenger vehicles mandatory by 2022, in order to reduce the incidence of road accidents in the country.

The other important factors responsible for the surge in the demand for ADAS in India are the soaring disposable income of people and the increasing demand for vehicles equipped with automated artificial intelligence (AI)-driven systems. Nowadays, people are preferring vehicles equipped with various types of advanced systems, mainly on account of their higher purchasing capability and the rapid technological advancements in the automotive sector. Driven by these factors, the Indian advanced driver assistance systems (ADAS) market is predicted to witness rapid growth during the forecast period (2020–2030).

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There are multiple types of advanced driver assistance systems incorporated in vehicles — drowsiness monitoring system (DMS), adaptive cruise control system (ACCS), tire-pressure monitoring system (TPMS), blind spot detection system (BSDS), adaptive front-lighting system (AFLS), lane departure warning system (LDWS), parking assist system (PAS), and various other types of driver monitoring and night vision systems. Amongst these, BSDSs and ACCSs are predicted to observe wide-scale adoption in vehicles during the forecast period. The AFLS is anticipated to register the fastest growth in demand during the forecast period.

The biggest trend currently being observed in the Indian ADAS market is the increasing number of technical collaborations amongst the major automobile and ADAS manufacturing companies. These collaborations are being formed mainly in order to meet the surging technology demands in the country. Moreover, the rapid technological advancements are significantly boosting the need for enhanced safety and comfort features in vehicles, which is in turn, propelling the demand for vehicles equipped with ADAS, in the country. For instance, Mando Corp. signed a contract for the supply of ADAS, with Mahindra & Mahindra Ltd. in April 2019.

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Hence, it is clear that owing to the increasing prevalence of road accidents in the country and the rising disposable income of the people, the demand for ADAS is expected to shoot-up in India over the next few years.

Massive Growth of Last Mile Delivery Market by 2030

The increasing adoption of the real-time tracking technology, due to the surging integration of the internet of things (IoT) in the transportation and logistics sector, is one of the major factors fueling the demand for last mile delivery solutions across the globe. The tracking technology allows customers to gain real-time insights into the location of their packaging. On the other hand, the delivery-partner-centric real-time tracking technology allows businesses to get a holistic view of the efficiency of logistics.

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This, in turn, inspires them to become more customer-centric. The adoption of this technology has propelled the expansion of the e-commerce industry. It has become imperative for both logistics service providers and e-commerce players to have a well-developed information technology (IT) infrastructure in place for enabling the efficient tracking of transactions and the movement of shipments at all times. Besides this, the huge funding being provided to last mile delivery start-ups is also fueling the last mile delivery market advancement.

The last mile delivery market is expected to witness a CAGR of 20.3% during the forecast period (2020–2030) due to the surging use of omnichannel retailing and increasing penetration of the internet in developing countries, such as India, Indonesia, and Thailand. Moreover, the booming e-commerce industry due to the soaring trust among online customers, improving website experience, and rising comfort level for online shoppers will facilitate the market growth. Owing to these factors, the market value is projected to rise from$15.7 billion in 2019 to $117.9 billion by 2030.

In 2019, the North American last mile delivery market generated the highest revenue due to the presence of Canada and the U.S., which are two of the most-predominant users of last mile delivery services in the world. Several enterprises in the region are entering the last mile logistics niche, as it is one of the fastest-growing sectors in North America. This is due to the rapid adoption of novel technologies and the high efficiency of last mile delivery services.

The Latin American, Middle Eastern, and African (LAMEA) market will register the fastest growth during the forecast period due to the rapid economic development in countries like Brazil and Mexico. The logistics and e-commerce industry in these countries is expected to observe a considerable improvement in the forecast years, which will, in turn, facilitate the market growth. Brazil is expected to register the highest adoption of last mile delivery services in this region owing to the existence of a highly adaptive customer base and constant technological innovations.

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Thus, the surging investments in logistics startups and increasing integration of the real-time tracking technology in this industry will fuel the market growth in the foreseeable future.

Tremendous Growth Expected in Global Mattress Market in Coming Years

A number of factors, such as the surging disposable income and favorable government policies, rising standard of living, increasing population, growing tourism industry, surging concern regarding sound and healthy sleep, rising migration to urban areas, and increasing prevalence of back and spine problems across the globe, are expected to drive the growth of the mattress market at a CAGR of 7.0% during the foreseeable period (2021–2030). According to P&S Intelligence, the market generated $32,875.3 million revenue in 2020, and it is expected to reach $64,045.5 million by 2030.

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One of the prime factors aiding the mattress market growth is the surging disposable income and favorable government policies for the real estate sector. For instance, as per the Organisation for Economic Co-operation and Development (OECD), the global disposable income increased at a growth rate of over 2% in 2019 from 2018. These factors are making housing affordable, which is increasing the home ownership rate, thus driving the demand for mattresses. Moreover, the rising disposable income boosts the tourism sector, thereby positively impacting the market growth.

The product segment of the mattress market is categorized into innerspring, latex, memory foam, and others. Among these, the memory foam category accounted for the largest market share in 2020. This is ascribed to the high usage of this type of mattresses by individuals suffering from orthopedic problems, as these mattresses offer more comfort, more evenly distribute the body weight, and better support the body in response to pressure and heat as compared to other types. Moreover, they are used in the commercial sector owing to their low price and easy availability.

Geographically, the Asia-Pacific (APAC) mattress market generated the highest revenue in 2020, and it is also expected to witness the same trend during the forecast period. This is attributed to the growing tourism industry, surging per capita disposable income in developing countries, increasing population of China, India, and Indonesia, improving standards of living of the middle-class population, and rising purchasing power of people. In addition, with the awareness on sound and healthy sleep rising, people are replacing their mattresses more often than before.

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Thus, the rising disposable income, favorable government policies, and increasing migration to urban areas are expected to boost the market growth during the forecast period.