Technology Market report: September 2020

Wednesday 30 September 2020

Drone-Powered Business Solutions Market Analysis by Application and End Use

The global Drone-Powered Business Solutions Market size is anticipated to reach USD 84.31 billion by 2025, according to a new report by Grand View Research, Inc. Drones have now moved past the hobby realm and are increasingly being used for a wide range of applications. Businesses across the world are exploring new applications of drones in their day-to-day operations.

Real-world applications for Unmanned Aerial Vehicles (UAVs) are expanding faster than ever across a broad range of industries, mainly due to the relaxation of some stringent regulations governing their use and robust investments. Responding to the rapidly evolving drone technology, various companies across the world are now creating new business and operating models for drone-based services.

The integration of drones into day-to-day business is presumed to significantly benefit agriculture, mapping and surveying, infrastructure maintenance, inspection, security & surveillance, and large-scale capital projects. Mining and insurance are expected to leverage the potential expansion of integrating drones into their operations to drive process improvement by gaining easy accessibility to high-quality data.

Businesses across the world are seeking to purchase data and information services rather than investing directly in the equipment. Innovative companies are rapidly exploring the usage of drones in aerial firefighting and emergency situations as well as to aid in the design of infrastructure and residential/commercial complexes.

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Further key findings from the report suggest:

Commercial drones and their applications are expected to become the next big export product for many European companies.
Drone service providers are now shifting their focus to data collection and processing due to limitations and difficulties in day-to-day data capturing operations, which, in turn, reduces the ability to scale business.
Legislative and regulatory aspects of drone operations are presently the key factors propelling the adoption of drone-powered business solution by various organizations across the world.
Bowing out of managing their in-house fleets of drones has been observed as an emerging trend among organizations. Instead, organizations are contracting with third-party service providers under the Drone as a Service (DaaS) license.
Poland was the pioneer to roll-out a legislation regarding the commercial application of drones, including insurance regulations, rules for Beyond Visible Line of Sight (BVLOS) flights, and required training for pilots, followed by Singapore and South Africa.

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.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
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Artificial Intelligence Market - Top Companies : Advanced Micro Devices, AiCure, Arm Limited, Atomwise, Inc.

The global Artificial Intelligence Market size is expected to reach USD 733.7 billion by 2027, expanding at a CAGR of 42.2%, according to a new report by Grand View Research, Inc. Artificial intelligence (AI) denotes the concept and development of computing systems capable of performing tasks customarily requiring human assistance, such as decision-making, speech recognition, visual perception, and language translation. AI uses layers of algorithms to understand human speech, visually recognize objects, and process information. These algorithms are used for data processing, calculation, and automated reasoning.

Artificial intelligence researchers are continuously improving algorithms for various aspects, as conventional algorithms have drawbacks regarding accuracy and efficiency. These advancements have led manufacturers and technology developers to focus on developing standard algorithms. Recently, several developments have been carried out for enhancing artificial intelligence algorithms. For instance, in May 2020, International Business Machines Corporation announced a wide range of new AI-powered services and capabilities, namely IBM Watson AIOps, for enterprise automation. These services are designed to help automate the IT infrastructures and make them more resilient and cost reduction.

The COVID-19 pandemic has emerged as an opportunity for AI-enabled computer systems to fight against the epidemic as several tech companies are working on prevent, mitigate, and contain the virus. For instance, LeewayHertz, a U.S.-based custom software development company, is offering technology solutions using AI tools and techniques, including the Face Mask Detection System, to identify individuals without a mask and the Human Presence System to monitor patients remotely. Besides, Voxel51 Inc., a U.S.-based artificial intelligence start-up, has developed Voxel51 PDI (Physical Distancing Index) to measure the impact of the global pandemic on social behavior across the world. AI-powered computer platforms or solutions are being used to fight against COVID - 19 in numerous applications, such as early alerts, tracking and prediction, data dashboards, diagnoses and prognosis, treatments and cures, and maintaining social control. Data dashboards that can visualize the pandemic have emerged with the need for coronavirus tracking and prediction. For instance, Microsoft Corporation’s Bing’s AI tracker gives a global overview of the pandemic's current statistics.

Artificial Intelligence is becoming vital to big data as the technology allows the extraction of high-level and complex abstractions through a hierarchical learning process. The need for mining and extraction of significant patterns from high-volume information is driving the growth of artificial intelligence in big data analytics. Furthermore, the technology helps in overcoming challenges associated with big data analytics, such as the trustworthiness of data analysis, format variation of raw information, highly distributed input sources, and imbalanced input data. Another challenge includes a lack of efficient storage and poor retrieval of information as it is collected in large quantities and made available across numerous domains. These challenges are overcome by using semantic indexing as it facilitates comprehension and knowledge discovery.

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Artificial Intelligence Market Report Highlights

The advent of big data is expected to be traction of the growth of the AI market as a large volume of data is needed to be captured, stored, and analyzed
The increasing demand for image processing and identification is expected to drive industry growth
North America dominated the market and accounted for over 42.4% share of global revenue in 2019
One of the significant concerns restraining industry growth is the need for a large amount of data to train AI systems for character and image recognition.

Collaborative Robots Market Analysis by Application and Region

The global Collaborative Robots Market size is expected to reach USD 10.14 billion by 2025, according to a new study by Grand View Research, Inc. it is anticipated to expand at a CAGR of 44.5% during the forecast period. Increasing investments in automation of manufacturing processes is boosting the demand for collaborative robots or cobots.

The research and development environments have been involved in the use of robots possessing embedded torque and force sensing technologies over the decades which in turn is increasing the implementation of collaborative robots in automation. Despite having a long history of using robots for several manufacturing purposes such as on the assembly lines and welding, the companies operating in automotive industry that are new to automation, might face challenges with the programming robots. The need for user-friendly robots that do not require highly skilled workforce to deploy and carry operations as well as are low maintenance, has paved the way for developing a common software platform. This platform enabled the integration of robots, their motion controlling and drives along with the generation of an interface that eases the programming of such robots

The demand arising from the automotive industrial customers, engineers, and researchers has initiated the development of collaborative robots. Moreover, these robots assist the packaging market and the industries targeting to enhance their production rates. Robots are currently working in several industries and are on the verge of impacting the logistics industry overcoming the challenges such as complicated work processes, handling numerous tasks in several number of combinations all in the compact spaces. With the development of next-generation of collaborative robots that are capable of seeing, moving, and reacting to the environment can precisely work in collaboration with the humans to increase the demand for cobots across several industry verticals along with logistics. Hence, increasing demand from logistics is anticipated to drive the overall collaborative robots market.

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Further key findings from the report suggest:

High demand for collaborative robots in various industrial applications is attributed to the factors such as the high payload carrying capacity of cobots. As the cobots operate as an assisting device to human and assist increasing the efficiency, along with the quality of work done
Various countries are intensely reviving the electronics and consumer goods industries, in turn, catalyzing the demand for cobots. In addition, the small and medium enterprises usually emphasize on higher return on investment amenities. Thus, the affordable cobots are effectively grabbing the attention of such SMEs and driving the overall market at a considerable pace
Europe led the collaborative robots market in 2018 and accounted for over 37% of the global market share
Key market players include ABB Group; DENSO Robotics; EPSON Robots; Energid Technologies Corporation; F&P Robotics AG; Fanuc Corporation; KUKA AG; MRK-Systeme GmbH; Precise Automation, Inc.; Rethink Robotics, Inc.; Robert Bosch GmbH; Universal Robots A/S; Yaskawa Electric Corporation; MABI AG; Techman Robot by Quanta Storage, Inc.; Franka Emika GmbH; AUBO Robotics Inc.; and Comau S.p.A.

Tuesday 29 September 2020

Wireless Infrastructure Market - Top Companies : Huawei Technologies Co., Ltd. (Shenzhen, Guangdong); Qualcomm Technologies, Inc. (U.S.)

The global Wireless Infrastructure Market size is expected to reach USD 116.75 billion by 2025, according to a new report conducted by Grand View Research, Inc., exhibiting a CAGR of 5.7% during the forecast period. Enterprises have been shifting to hosted and managed networking and communication services as these address problems of high initial investments associated with unified communications systems. Small and mediums businesses (SMBs) and larger enterprises have realized the benefits of network infrastructures, thereby fueling market growth.

Growing demand for enterprise mobility is expected to favorably impact the market, particularly in the telecom application area, over the forecast period. The healthcare sector is also expected to be a fast-growing sector, owing to high-quality data transmission and connectivity enabling enhanced patient care and video collaborations resulting in reductions in healthcare costs.

The imminent telecom and network infrastructure era is likely to witness colossal growth opportunities attributable to the persistent era of BYOD, WYOD, cloud computing, Artificial Intelligence (AI) in telecom applications, and an era of 4G, LTE, and 5G high-speed data connectivity network infrastructure capabilities.

The market can be categorized based on technology into Macrocell RAN, Small Cells, RRH, DAS, Cloud RAN, Carrier Wi-Fi, Mobile Core, and Backhaul. The Macrocell RAN technology segment is anticipated to dominate the market in terms of size, as a principal contributor to the overall revenue by 2025. The segment is expected to, however, register a slow growth rate on account of increasing adoption of its technologically advanced HetNet counterparts in the years to come. The healthcare sector is expected to be an emerging revenue pocket for wireless infrastructure solutions with increasing focus on networking technologies.

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Further key findings from the report suggest:

North America, being a densely populated commercial hub, dominated the global wireless infrastructure market in terms of revenue in 2016. Favorable government policies, regulations, and subsidies are driving the growth of the network and telecom infrastructure sector in the region
Increasing need for high-speed mobile Internet and 4G connections is expected to accelerate LTE deployments worldwide
Rising investments by operators to deploy high-speed networks are expected to drive the number of Mobile Broadband (MBB) connections over the forecast period
Key industry participants include Huawei Technologies Co., Ltd. (Shenzhen, Guangdong); Qualcomm Technologies, Inc. (U.S.); Samsung (Japan); Ericsson (Sweden); and ZTE Corporation (China).

Indoor LBS Market Size is Projected to Observe a CAGR of 43.3% till 2025

The global Indoor LBS Market size is expected to reach USD 18.74 billion by 2025, according to a new study by Grand View Research, Inc., rising at a CAGR of 43.3% during the forecast period. Growing use of location-based services in the retail industry for marketing applications in expected to stimulate the growth of the market over the forecast period.

Industry players are increasingly striving towards providing real-time location services to customers, which is expected to stimulate market growth. Moreover, the use of 3D platforms to provide real-time information is allowing companies to improve their productivity. Indoor location-based services are also being implemented for public safety, whereby individuals can inform authorities about their location using their mobile devices.

Increasing penetration of mobile devices across various regions is expected to propel the market. Regions, such as North America and Europe, where smartphone penetration has surpassed 73.0%, are opening lucrative opportunities for companies to promote their products or services via location alerts and push messages on mobile devices. At the same time, developing regions, such as Asia Pacific, are also anticipated to fuel the demand for LBS for marketing initiatives.

Growth in location-based services is expected to benefit the retail industry. Retailers are using LBS to increase customer engagement by providing customers with information about their products and discounts whenever customers get in the vicinity of retail store. Retailers are also using LBS to gain insights on customers’ response to a particular promotional initiative and to tailor their marketing strategies accordingly.

There are several established as well as smaller players that offer location-based services. Larger enterprises focus on innovation and new product development whereas smaller companies provide deployment solutions and product services.

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Further key findings from the study suggest:

The RFID and NFC segment is expected to emerge as the fastest growing technology segment, expanding at a CAGR of 47.4% over the forecast period. The growth of the segment can be attributed to rising prominence of wireless modes of communication
North America accounted for the largest market share in terms of revenue and is expected to reach USD 7.65 billion by 2025. Prominent players such as Microsoft Corporation and Google Inc., who hold expertise in location-based services, are based in the region
Proximity beacons are anticipated to emerge as the fastest growing product segment, exhibiting a CAGR of 48.0% over the forecast period. Rising use of proximity beacons for marketing and advertising purposes by retailers worldwide is escalating the growth of the segment
Based on application, proximity is projected to be the fastest growing application segment over the forecast period. It is estimated to reach USD 5.66 billion by 2025. Increasing usage of internet-enabled mobile devices is poised to fuel the demand for the segment
The retail segment is anticipated to register the highest CAGR of 47.1% during the same period. This growth can be attributed to growing competition among retail outlets for engaging larger number of visitors
Key industry participants include Apple Inc.; Cisco Systems Inc.; GloPos Technologies; Google Inc.; HERE Holding Corporation; Inside Secure Corporation; IndoorAtlas Ltd; Micello, Inc.; Microsoft Corporation; Ruckus Wireless, Inc., Navizon Inc.; Qualcomm Inc.; Shopkick, Inc., YOOSE Pte. Ltd., and Sprooki Pte Ltd.

Friday 25 September 2020

Digital Marketing Software Market Analysis by Adobe, Inc.; Hewlett Packard Enterprise Company; Hubspot, Inc.

The global Digital Marketing Software Market size is expected to reach USD 151.8 billion by 2027, registering a of CAGR 17.4% from 2020 to 2027, according to a new study conducted by Grand View Research, Inc. The software can integrate multiple digital content delivery platforms so that organizations can plan, design, and execute marketing campaigns on their own. The software is utilized by companies to perform an in-depth and real-time analysis of campaigns. The proliferation of the internet and the growing use of social media are encouraging companies to increase their spending on creating interactive and intuitive digital content for marketing purposes. This, in turn, is anticipated to drive the market over the forecast period.

The advent of social media has dramatically enabled organizations to increase customer engagement via influencers, allowing organizations to engage in content-driven publicity. Furthermore, the on-going innovations in digital marketing technologies such as virtual influencers and its subsequent applications in the retail industry are anticipated to fuel market growth. For instance, Channel S.A and PRADA have adopted Lil Miquela, a virtual influencer developed by Brud for advertising their products. Moreover, the increasing adoption of Voice of the Customer (VoC) techniques such as online-hosted customer communities that defines a customer’s preference for future products is anticipated to boost the demand for the software over the forecast period. Moreover, the outbreak of COVID-19 has positively impacted the market owing to the increasing social media marketing activities among industries such as automotive, BFSI, education, and healthcare.

Artificial Intelligence (AI) is extensively used to build data models automatically in digital forms and collect data from multiple sources. AI is positively impacting the market, as organizations are emphasizing the adoption of this technology for improving the customer experience. For instance, CogniCor Technologies has integrated AI in its digital marketing software to enable end users to enhance the complaint resolution activities, resulting in an increased level of customer satisfaction. Thereby, the companies offering AI in their software are likely to stay competitive in the market.

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Digital Marketing Software Market Report Highlights

The marketing automation software is anticipated to gain traction over the forecast period to perform activities such as lead nurturing and collaboration among teams to promote business
The managed services segment is expected to grow significantly over the forecast period. This can be attributed to the advantages provided by managed services such as remote monitoring and cost-effective management of IT infrastructure through subscription-based pricing models
The cloud deployment model is expected to gain traction over the forecast period due to its cost-effectiveness and increased accessibility
The SMEs segment is anticipated to grow remarkably owing to the increasing adoption of social media platforms such as Facebook, Pinterest, and Instagram, by SMEs for activities related to sales and promotion
In Asia Pacific, the digital marketing software market is anticipated to witness significant growth owing to increasing popularity of social media, e-commerce, and m-commerce particularly in emerging economies such as India, Indonesia, and Thailand
Key players operating in the market include Adobe, Inc.; Hewlett Packard Enterprise Company; Hubspot, Inc.; IBM Corporation; Marketo, Inc.; Microsoft Corporation; Oracle Corporation; Salesforce.com, Inc.; SAP SE; and SAS Institute, Inc.

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.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Private Cloud Server Market by Forecast with Leading Key Players: VMware; Dell Inc.; Cisco Systems Inc.; Hewlett Packard Enterprise Development LP; and Amazon.com, Inc.

The global Private Cloud Server Market size is expected to reach USD 205.44 billion by 2025, registering a CAGR of 29.6% from 2019 to 2025, according to a new report by Grand View Research, Inc. Aggressive investments being made by organizations to overhaul the conventional IT infrastructure coupled with the continued adoption of cloud computing technology is anticipated to drive the market growth over the forecast period. The growing emphasis on adopting cloud computing technology in emerging economies is also expected to drive the market growth from 2019 to 2025.

As organizations continue to move their businesses to a hosted IT infrastructure, the need for robust security & privacy, customization, and compliance, among others, is also rising. As data is of utmost importance for large enterprise as well as small and medium enterprises, and any loss of critical data may result in significant losses of a business. Private cloud server solutions not only eliminate the concerns over data loss but also encourage organizations to adopt the bring your own device (BYOD) trend and deploy a mobile workforce. Data recovery options being offered by the providers of these solutions also help in annulling the concerns over data loss.

Private cloud server solutions are capable of catering to the need of on-demand computing services. They can manage a range of applications, storage needs, and processing power requirements efficiently, thereby helping organizations to utilize the computing capacity and subscribe for different services using a pay-as-you-go model. They can also allow workloads to be deployed to another server in event of changes in the resource demands, thereby ensuring that organizations have an adequate and robust virtual infrastructure.

When it comes to investing in IT infrastructure and security, small and medium enterprises often have limited resources and budgets constraints. However, private cloud server solutions can help such enterprises in reducing the total cost of ownership (TCO) associated with the IT infrastructure. The awareness about private cloud server solutions among small and medium enterprises is growing as a result, thereby driving the market growth. Besides, additional benefits, such as improved business control and scalability, offered by private cloud server solutions can not only help organizations in maximizing the utilization of resources but also in enhancing the efficiency of the business.

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Private Cloud Server Market Report Highlights

The user hosting segment accounted for a market share of over 51% in 2018 owing to the greater flexibility and scalability offered by user-hosted private cloud server solutions without compromising with data security
The Asia Pacific regional market is projected to register the highest CAGR over the forecast period, particularly owing to the growing demand for private cloud server solutions from small and medium enterprises in the region
The North America regional market dominated the global private cloud server market in 2018 as companies in North America continued to collect large volumes of data to analyze the changing consumer behavior
The demand for private cloud server solutions is rising as analyzing the large volumes of data trigger the need for high storage and processing capacities and necessitate the adoption of hosted IT infrastructure for robust data management
Key players operating in the market include VMware; Dell Inc.; Cisco Systems Inc.; Hewlett Packard Enterprise Development LP; and Amazon.com, Inc.

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.

Contact:
Sherry James
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Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
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Data Preparation Tools Market Worth $8.47 Billion By 2025

The global Data Preparation Tools Market size is anticipated to reach USD 8.47 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 25.1% over the forecast period. Data preparation tools can help organizations augment their efficiency by ensuring easy access to data. Increasing demand for data analytics, particularly in IT and retail sectors, is expected to drive demand for data preparation tools.

The growth of the data preparation tools market can be attributed particularly to capabilities of self-service data preparation tools to ensure easy interchangeability, collaboration, and profiling of data. These tools can also address concerns associated with safety of the data. Demand for self-service data preparation tools will continue to increase as data analytics companies continue to demand efficient solutions to access and analyze large volumes of data.

On-premise deployment of data preparation tools accounted for the largest revenue share in 2016 as organizations prefer to adopt conventional data collection and preparation techniques. However, demand for deployment of data preparation tools over the cloud is expected to grow over the forecast period, as cloud deployment can ensure easy access to data via virtual sources.

Data preparation tools help enterprises collect, analyze, and standardize data. The data collection segment accounted for the largest market share of more than 28.0% in 2016. However, the data governance segment is expected to expand noticeably over the forecast period.

North America accounted for the largest share in the data preparation tools market in 2016. Demand for data preparation tools is expected to increase over the forecast period in line with growing adoption of data preparation tools for data analytics in U.S. However, Asia Pacific is expected to exhibit the highest CAGR over the forecast period.

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Further key findings from the report suggest:

Demand for data preparation tools is expected to increase as various companies jointly adopt data governance initiatives
The market size of the IT and telecom segment is anticipated to expand at a CAGR of 26.8% over the forecast period
Asia Pacific is expected to witness significant growth over the forecast period owing to large-scale adoption of data preparation tools in retail analytics
Alteryx, Inc.; Datawatch Corporation; Informatica Corporation; International Business Machines Corporation; Microsoft Corporation; MicroStrategy Incorporated; Qlik Technologies Inc.; SAP SE; SAS Institute Inc.; and Tibco Software Inc. are some of the key players in the market for data preparation tools.

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.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Thursday 24 September 2020

Electric Vehicle Market by BYD Company Ltd.; Daimler AG; Ford Motor Company; General Motors Company

The global Electric Vehicle Market demand is expected to reach $1,212.1 billion by 2027, expanding at a CAGR of 38.1% over the forecast period, according to a study conducted by Grand View Research, Inc. The market is driven by initiatives taken by governments of various countries to promote manufacturing of Electric Vehicles (EVs). For instance, the Electric Vehicles Initiative (EVI), a multi-government forum, aims at increasing the adoption of EVs globally. As of now, there are thirteen countries participating in this forum, namely Canada, Chile, U.K., Germany, Sweden, Netherlands, Norway, Finland, France, China, Japan, India, and New Zealand. Several campaigns and programs have been launched under this forum such as the EV30@30 in 2017, which sets a target for 11 countries to have at least 30.0% sales of new EVs by 2030.

Rising investments in the EVs by numerous manufacturers is one of the key market drivers over the forecast period. For instance, in January 2020, General Motors announced its plan to invest USD 2.2 Billion in its Detroit plant to manufacture electric trucks and SUVs. The company plans to introduce over 20 EVs by 2023. Furthermore, in 2018, the demand for global electric cars surpassed 5 million units, more than 2 million units from 2017. China is considered as one of the major markets of electric cars along with Europe and U.S. However, lack of infrastructure is anticipated to hinder electric vehicle market growth over the forecast period.

Growing awareness regarding reduction of air pollution is propelling the demand for EVs during the forecast timeframe. EVs produce less carbon emissions as compared to conventional gasoline cars. It is estimated that EVs emit an average of 4,450 pounds of CO₂equivalents every year, which is almost half of the carbon emissions generated by conventional gasoline cars annually. Thus, EVs help in reducing air pollution and improve the air quality, thereby improving public health. This has led various government agencies promote the usage of electric vehicles. For instance, the U.S. Department of Transportation, Great Plains Institute, and Pollution Control Agency are working in tandem to accelerate the adoption of EVs in Minnesota, U.S.

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Electric Vehicle Market Report Highlights

The Plug-in Hybrid Electric Vehicles (PHEV) segment is projected to witness the fastest CAGR of over 45.0% in terms of revenue during the forecast period owing to the advantages of two power sources, electricity and fuel
The Battery Electric Vehicles (BEV) segment is expected to hold the largest market share of over 60.0% in terms of revenue in 2019. This share is attributed to the initiatives taken by government of countries such as Germany, Sweden, China, and India to promote the usage of EVs
Asia Pacific held a market share of over 60.0% in terms of revenue in 2019. However, Latin America is anticipated to witness the fastest CAGR of over 75.0% in terms of revenue during the forecast period. This growth is attributed to the growing environmental awareness among the citizens of Brazil
The electric vehicle market is consolidated and characterized by high competition with the presence of major global players such as BYD Company Ltd.; Daimler AG; Ford Motor Company; General Motors Company; Groupe Renault; Mitsubishi Motors Corporation; Nissan Motor Company; Tesla, Inc.; Toyota Motor Corporation; and Volkswagen Group. These companies are engaged in collaborations, mergers, and acquisitions to enhance their market presence and to expand their product portfolio

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.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com