automotivemarketreports: October 2021

Thursday 21 October 2021

Semi-Autonomous Vehicle Market Size, Share, Analysis and Forecast to 2028

The global Semi-Autonomous Vehicle Market demand is anticipated to reach 60.1 million units by 2028, exhibiting a CAGR of 20.8% over the forecast period, according to a new report by Grand View Research, Inc. The rapid growth can be attributed to the rising adoption of driver-assisted technologies, thereby enhancing the driving experience. The confluence of abilities such as electronic braking, adaptive cruise control, and obstacle detection; and continuous technological innovations happening in driving technologies offer an impetus to market growth. Semi-autonomous cars also promise drivers the ability to practice safer driving over the forecast period, thus driving higher adoption. The availability of forwarding collision and lane assistance and progressive learning models in cars helps to remove human error, thus reducing accidents.

The rising technological development of semi-autonomous cars has increased integration with connected technologies, thus increasing efficiency by minimizing human error. Semi-autonomous vehicles can increase the efficiency of vehicles as they would offer real-time traffic updates, enhanced driving assistance systems, and connected cars. Semi-automatic cars also offer the ability to indulge in intelligent driving, thus helping in changing routes accordingly. Thus, the vehicles would be more efficient and secure as they would not result in the wastage of fuel in traffic jams and ensure passenger safety.

Artificial Intelligence (AI) offers promising growth opportunities to the semi-autonomous cars market due to its applications in several use cases within automotive. The implementation of Ai-models aids in pattern and obstacle recognition, which helps understand verbal sounds, non-verbal cues, and gestures. There has been an increasing trend in the adoption of AI for steering mechanism which simplifies driving effort, enhances engine performance, and increase fuel efficiency.

The Asia Pacific region is expected to witness the fastest CAGR of 22.7%, followed by the Middle East and Africa and South America. The high growth rate can be attributed to a strong AI hub in China, Japan, Singapore, and India, enabling automotive players to gain easy access to automotive-specific AI programs and services. The rising economy of Middle Eastern countries also offers promising growth opportunities to the MEA region. This can be accredited to the rising disposable income of people in the region, increasing interest of people to leverage semi-autonomous vehicles for commercial and personal uses, and favorable government regulations which help in regulating market growth.

Related Press Release@ Semi-Autonomous Vehicle Market Report

Semi-Autonomous Vehicle Market Report Highlights

The level 3 automation segment is expected to emerge as the fastest-growing segment over the forecast period. Level 3 automation offers technological advancement with environmental detection capabilities, capable of making informed decisions such as overtake slow-moving vehicles, traffic maneuverability, and smart obstacle detection
The commercial vehicle segment is expected to register the highest CAGR over the forecast period. The deployment of semi-autonomous driving solution in commercial vehicles ensures safe movement of products and goods, thus allowing the driver to maintain good health and posture
The Asia Pacific region is expected to dominate the market over the forecast period. This can be attributed to the presence of the AI hubs in countries such as China, Japan, Singapore, and India; which offers a conducive environment for the semi-autonomous market

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Monday 4 October 2021

Railway Telematics Market Size, Share, Trends and Worldwide Forecast Report

The global Railway Telematics Market size is expected to reach USD 18.82 billion by 2028, expanding at a CAGR of 7.5%, from 2021 to 2028, as per the research conducted by Grand View Research, Inc. Increasing government initiatives aimed at introducing smart railways, rapid urbanization, and the evolution of smart cities globally are some of the key factors driving the market growth. Governments across the globe are emphasizing smart city initiatives to speed up operational activities in public transport services and offer better infrastructure for transportation.

Countries such as Germany, India, France, and Canada have recognized the benefits of expanding railway infrastructure and its positive impact on the economy. As a result, OEMs and numerous countries are investing in railway infrastructures. For instance, Digitaler Bedienplats of Germany and Commande Centralisee de Reseau of France have declared their plans of deploying digital interlocking technology across several systems by 2033 and 2035. In May 2021, Etihad Rail, UAE's national railway network, entered into a strategic agreement with Transportr, a digital freight service provider, to digitize the company’s railway fleet. Various developed and developing economies such as India, U.S., Germany, and Canada are putting increased focus on innovation and R&D and are adopting various technologies in their rail infrastructure to overcome mobility challenges.

Europe is home to some of the prominent players in the market for railway telematic, including OEMs such as Alstom, DB Cargo, Knorr-Bremse, and Siemens AG. These companies hold a majority share in the market. Several railway operators are replacing old technologies with progressive train-signaling and control systems. For instance, European Railway Traffic Management System (ERTMS) Level 2, designed and developed by Trans-European Rail Network, provides speed control systems and signaling solutions for interoperability across railways in Europe.

The COVID-19 pandemic lockdowns and travel restrictions imposed by various governments hampered freight and logistics activities globally during the first half of 2020, negatively impacting the market growth. This has led to a significant decline in the overall demand for telematics services. However, the gradual ease in lockdown restrictions and the revival of logistics, freight activities, and business activities are expected to help the market gain traction over the forecast period.

Some of the dominant players in the market are Hitachi Ltd., Siemens AG, Robert Bosch GmbH, Knorr-Bremse AG, and Alstom SA. These players majorly focus on strategic partnerships and mergers and acquisitions to enhance their business operations. In April 2021, Hitachi Rail acquired Perpetuum, a U.K.-based rail technology firm, to enhance Hitachi’s digital rail maintenance activities.

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Railway Telematics Market Report Highlights

In terms of solution, the fleet management segment is expected to dominate the market over the forecast period, due to increasing freight activities globally. The segment is expected to reach USD 6.17 billion by 2028
In terms of railcar, the refrigerated boxcars segment is anticipated to expand at the highest CAGR of 8.4% over the forecast period
In terms of component type, the telematics control unit segment is expected to dominate over the forecast period. The segment is anticipated to reach USD 9.96 billion by 2028
Europe is projected to account for the majority share of the market over the forecast period. The regional market is anticipated to reach USD 7.25 billion by 2028. The rapid adoption of technological innovations and the presence of several prominent players in the region are some of the key factors expected to work favorably for the market’s future growth prospects
Some of the prominent industry participants are Hitachi Ltd., Siemens AG, Robert Bosch GmbH, Knorr-Bremse AG, and Alstom SA.