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.