Technology Market report

Monday, 24 April 2023

Electric Mobility Market Size Worth $325.64 Billion By 2030

The global Electric Mobility Market size is expected to reach USD 325.64 billion by 2030, growing at a CAGR of 14.6% over the forecast period, as per the study conducted by Grand View Research, Inc. Rise in substantial operating and maintenance cost savings is expected to significantly increase the demand for electric mobility thereby supporting the market growth. Furthermore, growing concerns about the rapidly rising carbon footprint and greenhouse gases from the transportation and automotive industries are encouraging state and country-level regulatory bodies to set up policies that promote the adoption of energy-efficient vehicles.

The rise in government investments along with stringent regulations, objectives, and policies for electric vehicle deployment, signaling OEMs and other industry stakeholders who actively participate in the industry and building confidence based on mobilizing investments and policy frameworks is fueling the growth of the electric mobility industry.

For instance, in December 2022, the Uttar Pradesh government in India targeted to invest 300 million in electric transportation. The state's UP Electric Vehicle Manufacturing and Mobility Policy 2022 aims to attract new investment and create 1 million new jobs in the sector. Meanwhile, the new strategy has attempted to address the three key issues: stimulating the manufacture of e-vehicles and their components, such as batteries, and creating a solid network of charging stations and battery swap locations.

Electric vehicles depend on electricity to replenish their batteries rather than using fossil fuels such as petrol or diesel. With the increasing number of EV battery charging stations emerging, it is now more convenient for consumers to charge their batteries at a local station rather than stand in line at a CNG station or a gas station. For instance, In May 2022, Energica Motor Company, a manufacturing company, launched a new e-bike named Energica Experia. The e-bike featured the company’s no-emission EV technology. These factors are expected to drive the electric mobility market growth over the forecast period

Some dominant players in the U.S. electric mobility industry are BMW Motorrad International; Gogoro, Inc.; Honda Motor Co. Ltd.; KTM AG; Mahindra Group; Ninebot Ltd.; Suzuki Motor Corporation; Terra Motors Corporation; Vmoto Limited ABN; Yamaha Motor Company Limited. These players focus on new product launches and partnerships & collaboration to enhance their offerings and geographic presence. For instance, In June 2022, iFood, an online food ordering and delivery platform based in Brazil, launched the EVS Work iFood electric motorcycle in collaboration with Voltz Motors, a startup manufacturer of e-scooters and e-motorcycles based in Brazil, for USD 2,099.9.

Related Press Release@ Electric Mobility Market Report

Electric Mobility Market Report Highlights

Based on product, the electric bike segment is expected to dominate the global market owing to the factors such as the expansion of cycling infrastructure in developing countries such as India and the rise of financial incentives for e-bike sales
Based on drive, the chain drive segment dominated the market with 46% of the revenue share in 2022. The growing amount of construction activities driven by rapid industrialization is driving the segment’s growth
Based on battery, the Li-ion battery segment accounted for 82% of the revenue share in 2022 owing to the benefits such as a decrease in the amount of toxic oil waste generated, the need for engine maintenance, and the pollution caused by fuel combustion engines
Based on end-use, the personal segment accounted for 76% of the revenue share in 2022. The segment’s growth can be attributed to the rising sales of electric two-wheelers as more customers choose electric transportation for both commuting and relaxation
Prominent industry participants include BMW Motorrad International; Gogoro, Inc.; Honda Motor Co. Ltd.; KTM AG; Mahindra Group; Ninebot Ltd.; Suzuki Motor Corporation; Terra Motors Corporation; Vmoto Limited ABN; Yamaha Motor Company Limited.

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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Friday, 14 April 2023

Smart Transportation Market Size is Predicted to Witness 13.0% CAGR till 2030

The global Smart Transportation Market size is expected to reach USD 285.12 billion by 2030 and is expected to expand at 13.0% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The requirement for an efficient management system for seamless transportation services is predicted to increase, as the number of cars on-road grows and existing transportation infrastructure becomes ineffective.

Favorable government actions aimed at improving infrastructure and easing the transition toward an effective transportation system are expected to aid sector growth. By reacting to specific data on the peaks and troughs of passenger service, artificial intelligence (AI) and the internet of things (IoT) can help balance operations. Smart transportation technology will provide customers with detailed transportation information, such as actual arrival information to prevent waiting at crowded platforms, and instant visibility and alerts for trouble spots or issues affecting citywide congestion on public streets.

As smart transportation has become a vital aspect of the global smart city initiative, increasing investments in smart city solutions are expected to provide new avenues for market growth over the forecast period. Growing adoption of smart transportation solutions by government authorities has led to enhanced security & supply chain resiliency as well as environmental considerations. Furthermore, it has also added key benefits such as better management, security, and efficiency of transport systems in cities. Hence, several vendors are expected to develop and expand new products and solutions.

For instance, in September 2022, Accenture plc announced the acquisition of MacGregor Partners, a supply chain & logistics company. The acquisition enabled the company to expand its fulfillment transformation capabilities and supply chain network driven by Blue Yonder technology, an omnichannel fulfillment mechanism. Moreover, a team of over 100 employees from MacGregor Partners joined Accenture plc's intelligent platform services division, which brings extensive expertise in assisting businesses from various industries with the implementation of Warehouse Management Systems (WMS) and Transportation Management Systems (TMS).

The need for significant capital to replace the current infrastructure with an updated technical system is anticipated to impede industry expansion. The current system's prolonged downtime for replacement could hinder its development and have an impact on daily commuter activity. Similarly, the European Union (EU) has continued to use Dedicated Short-range Communication (DSRC) as its communication technology protocol. Therefore, a lack of uniformity also remains a challenge for the growth of the market.

Related Press Release@ Smart Transportation Market Report

Smart Transportation Market Report Highlights

The cloud service is anticipated to emerge as the fastest-growing service segment over the forecast period, owing to the demand for cloud-based solutions to better manage data and storage. The demand for cloud services is bolstered by smart transportation, which offers reliable data and real-time visibility to local transportation agencies and businesses
The parking management system is anticipated to emerge as the fastest-growing solution segment over the forecast period. The parking management system is expected to boost growth, owing to increased urbanization. It has resulted in increasing parking resource prices and a reduction in real estate space, which are expected to drive market growth
The APAC market is estimated to be the fastest-growing regional segment over the forecast period, offering lucrative growth opportunities for industry players. The need for better transportation is expected to increase as a key element driving the expansion of the smart transportation industry in APAC, as increased car usage creates more parking problems

Tuesday, 21 March 2023

U.S. Private LTE & 5G Network Market by Altiostar; AT&T Inc.; Broadcom Inc.; Cisco Systems, Inc.; Nokia Corp.

The U.S. Private LTE & 5G Network Market size is expected to reach USD 13.6 billion by 2030, growing at a CAGR of 24.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. This report focuses on upcoming trends in various spectrums, numerous private 5G use cases, the LTE and 5G industry’s overall regulatory scenario, and company profiles of key private LTE & 5G network providers. The growing adoption of a private network (both LTE & 5G) for the Internet of Things (IoT) applications & use cases, such as remote asset monitoring, machine control systems, and others, is one of the major factors responsible for the market growth across the U.S. The enterprises and manufacturing organizations are moving towards Industry 4.0 by automating and modernizing their industrial operations using intelligent technologies, such as machine vision and machine learning.

These include automation, 5G, smart factory, and the Industrial Internet of Things (IIoT). Industry 4.0 uses automated & highly intelligent, and collaborative systems that require reliable and robust wireless connections with low latencies. As a result, many factories & companies, such as automotive, transportation & logistics, mining, energy, and power sectors, adopt the private 5G & LTE networks. Growing use and adoption of IIoT and other industry 4.0 applications in the manufacturing industry vertical is also expected to boost the demand for private LTE & 5G network adoption over the forecast period. Companies are moving towards adopting private networks and choosing them over public networks because of various benefits, such as ultra-high-speed, high security of the network, low latencies, network reliability, and the ability to customize and upgrade their network effectively.

Companies and organizations already having the installed private network infrastructure at their premises can directly take advantage of the LTE & 5G networks by just installing the software stacks from the software vendors and getting the LTE & 5G networks at a reduced cost. The ongoing impact of the COVID-19 pandemic and the delay in 5G deployment are expected to restrain the overall market growth over a short period. The small- & medium-sized enterprises in the outskirts of low-income markets areas of the U.S. are unable to comply with the huge capital investments required to create a reliable and robust private connectivity infrastructure. Therefore, such firms’ lack of positive response is anticipated to slow down the market’s steady growth during the forecast period.

The key market companies gain a clear competitive advantage by building new private 5G installations and investing large amounts towards 5G deployment across various industry verticals, such as manufacturing, logistics, healthcare, and others. The network operators, such as T-Mobile, AT&T, and Verizon, have gained a top position in the LTE & 5G network connectivity space across the U.S. The primary network providers, such as Nokia Corp. and Ericsson, have already invested a significant amount towards the 5G and LTE technologies and their infrastructure development, thereby gaining a stronghold on the market for private LTE and 5G networks

Related Press Release@ U.S. Private LTE & 5G Network Market Report

U.S. Private LTE & 5G Network Market Report Highlights

Due to the COVID-19 pandemic, the healthcare industry is facing issues, such as inadequate personnel care for patients and a limited workforce across the domain. Due to this, healthcare facilities are trying to make an upgrade to the private LTE and 5G networks to enhance their remote patient monitoring and telemedicine abilities
The private LTE and 5G networks are anticipated to enhance operating excellence in industrial verticals, such as manufacturing, by integrating IIoT in various devices and equipment
Due to security concerns, the U.S. has banned Huawei Technologies, Co, Ltd., a China-based system integrator, from deploying its 5G equipment in the country. The U.S. is also continuously influencing its trade partners, such as Germany and India, to ban the usage of Huawei’s equipment for the 5G network
There is a high focus on customers implementing the private LTE & 5G networks with fast data transfer speeds and ultra-low latency, thereby improving the efficiencies of the smart factories. These smart factories utilize Artificial Intelligence (AI), Augmented Reality (AR), and advanced robotics for their effective operations
The manufacturing segment is anticipated to expand at a significant CAGR from 2022 to 2030. Various manufacturing companies, such as Toyota, BMW, Audi, and Volkswagen, are making their move towards automation and adopting the new technologies, such as the robot assistance, IIoT, and digital twins, by installing private LTE & 5G networks
The transportation & logistics segment is expected to grow at the fastest CAGR from 2022 to 2030 due to the notable increase in the number of warehouses across the U.S. and the high adoption of autonomous robots across the warehousing facilities, which demands low latency and reliable private 5G networks

Automotive Electronic Control Unit Market Share, Growth and Future Analysis

The global Automotive Electronic Control Unit Market size is expected to reach USD 156.0 billion by 2030, expanding at a CAGR of 5.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Hybrid and battery-powered vehicle sales are increasing due to rising consumer demand for commutes that release less carbon and reduce air pollution. Demand for electronic regulating devices like automotive electronic control units (ECUs) is driven by the growing adoption of automated driving, advanced driver assistance system (ADAS), infotainment, and other chassis electronics in internal combustion engine (ICE), hybrid and battery-powered vehicles.

Additionally, the growing preference of consumers for technically advanced luxury vehicles is also anticipated to drive the growth of the automotive ECU market over the forecast period. Moreover, the deployment of ADAS systems, driver assistance, anti-lock brake systems, adaptable front lighting, and other features in passenger cars and larger vehicles is mandated by governments in many countries as part of attempts to improve road safety.

For instance, in January 2023, Continental AG partnered with Ambarella, Inc., a semiconductor design company. Collectively, the two businesses will create scalable, all-encompassing software and hardware systems based on Artificial Intelligence (AI) for supported and Automated Driving (AD) as a step toward autonomous mobility. By incorporating Ambarella's energy-efficient System-on-Chip (SoC) architecture into its ADAS systems, the two companies will work together strategically. Additionally, customers' increasing demand for luxury cars increases investment in R&D for automotive ECUs, which is anticipated to provide new growth prospects for the market.

Automobile manufacturers in the automotive electronic control unit market are being encouraged to create and incorporate advanced systems into their vehicles by the expanding demand for personal vehicles and the rising disposable income of consumers in emerging countries around the world. They are implementing advanced automotive electronic systems for managing and maintaining the performance of these systems, which is anticipated to drive the market's expansion for automotive electronic controls.

For instance, in March 2022, Vitesco Technologies, an automotive company, partnered with Vector Informatik, a software tools manufacturer. The partnership aims to expedite software development in the area of coordinated vehicle movement using a centralized master controller. A central vehicle management system based on hardware and software that is almost ready for production is already being created for a significant German automaker as part of the ongoing partnership deal between Vitesco Technologies and Vector.

However, the rise in faults in automotive electronic control units in vehicles, causing unintended interruptions and serious accidents, is having a detrimental impact on the market for automotive electronic control units. Additionally, it is estimated that the market's growth would be constrained by the high prices associated with the programming and installation of electronic control units as well as the repair of electronic control units. These factors are expected to hamper the growth of the automotive electronic control unit industry.

Related Press Release@ Automotive Electronic Control Unit Market Report

Automotive Electronic Control Unit Market Report Highlights

The growing popularity of ADAS, including parking assistance, Adaptive Cruise Control (ACC), and Automatic Emergency Braking (AEB), has been driving the market growth
The 32-Bit dominated the market with a revenue share of over 41.2% in 2022 due to the rising demand for these parts owing to their benefits, including reduced design intricacy and low energy usage
The increased popularity of luxury vehicles, growth in disposable income, and an improvement in consumer lifestyle have been propelling the development of the passenger vehicle segment

Friday, 17 March 2023

Mobile Application Market Size Worth $567.19 Billion By 2030

The global Mobile Application Market size is anticipated to reach USD 567.19 billion by 2030, expanding at a CAGR of 13.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing emphasis on living a healthier lifestyle, as well as the demand for real-time access to healthcare data to assist users with workouts, health management, nutrition and diet, and other fitness activities, are the primary factors driving the market growth. Furthermore, factors such as lower internet costs, smartphone proliferation, an increase in expendable income, and the consequent rise in in-app purchases, particularly for gaming apps, are all driving growth.

Furthermore, during the COVID-19 pandemic, downloads of on-demand live video consultation apps increased globally. Although remote consultation services have grown in recent years, there has been a surge in on-demand live video consultations as a result of the current lockdowns. Furthermore, the negative effect of the COVID-19 pandemic on people's mental health and anxiety levels as a result of restrictions on human movement and the fear of becoming infected during the on-premise visit has laid the foundation for growth in online consultation services. The advantages of mobile applications, such as their simple user interface and remote health monitoring, have risen healthcare application downloads for health counseling sessions.

Music and entertainment apps, in addition to gaming and healthcare apps, offer substantial opportunities to raise business revenue. The increasing demand for live streaming applications available is anticipated to be one of the key factors driving the growth of the music and entertainment apps market. Users can broadcast live videos to a larger audience using live streaming apps like YouTube, Netflix, and Instagram.

Furthermore, these apps have grown in popularity among social media influencers, who use them to engage audiences daily and improve the ranking of their accounts and channels. Furthermore, global lockdowns imposed in the aftermath of the COVID-19 outbreak have fueled the development of OTT applications as users continue to engage in recreational activities. As a result, during the pandemic, the typical average time spent on OTT applications increased dramatically. As a result, demand for entertainment applications has skyrocketed. However, the re-opening of economies by governments following pandemic containment is expected to restore normal year-on-year development in the entertainment app segment.

Related Press Release@ Mobile Application Market Report

Mobile Application Market Report Highlights

Due to internet penetration, smartphone proliferation, and the increasing use of machine learning and artificial intelligence technologies in mobile applications, the market is expected to grow significantly during the forecast period (apps).
The apple store segment accounted for the largest revenue share in 2022, owing to a higher monetization rate of iOS apps for revenue gained from premium apps and in-app purchases.
The gaming application segment is projected to exhibit a highets growth rate of 15.2% during the forecast period from 2023 to 2030, owing to an increase in demand for mobile gaming apps.
The Asia Pacific is expected to emerge as the fastest growing regional market given the potential the region holds in terms of internet penetration and smartphone adoption. India and China are anticipated to remain the major markets, offering strong growth opportunities to all participants across the mobile application ecosystem.

Thursday, 2 March 2023

Asset Management Market – Industry Insights by Application and End-use

The global Asset Management Market size is expected to reach USD 3,677.39 billion by 2030, registering a CAGR of 34.7% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The three key trends that will drive the industry growth are the increasingnumber of High-Net-WorthIndividuals (HNWIs), the government-incentivized shift to individual retirement plans, and the expansion of Sovereign Wealth Funds (SWFs). With increasing assets and associated costs, market vendors must maintain or increase their technology and data management investment to maximize distribution opportunities and comply with regulations and reporting. Other factors driving the industry include the need to reduce equipment downtime and ensure optimum utilization of the available resources.

The increased awareness about the benefits of IoT-based asset management solutions bodes well for market growth. Advances in the latest technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and infrastructure automation, coupled with the continued integration of analytical and business intelligence tools in asset management solutions, are also expected to drive the industry. Asset management will take center stage as demographics and markets shift. Banks and insurers will be hampered by regulation because it will force them to abandon proprietary investing and other core businesses. Furthermore, with the growing geriatric population, retirement and healthcare will become significant challenges that only asset management can handle.

Asset managers will be in high demand as capital is raised to support growing urbanization and cross-border trade. Furthermore, asset managers will be at the forefront of SWFs’ efforts to diversify their vast pools of assets. The industry value will need to be communicated systematically and consistently. Integrating analytical solutions, such as predictive analytics, with asset management solutions is particularly helping organizations predict asset failures and subsequently decrease overall downtime costs. The adoption of asset management solutions is rising amid the growing concerns among enterprises about the appropriate maintenance of assets and reduction in overall operational costs.

Predictive asset management solutions can use non-intrusive testing approaches to determine asset performance patterns, minimize failure causes, save downtime, and lower replacement costs. Predictive analytics and maintenance solutions are simple to implement in various industries and verticals, including aerospace, manufacturing, healthcare, processing, and automotive. Industry players engage in technology partnerships and collaborations to develop advanced asset management solutions and roll out asset management services for their customers. For instance, in May 2021, Maikubo Artificial Intelligence (AI) Academy adopted the RFID solution offered by Zebra Technologies Corp. for efficient and accurate asset management and tagging of training equipment. The RFID solution has enhanced the efficiency of the staff while saving time and improving visibility.

Related Press Release@ Asset Management Market Report

Asset Management Market Report Highlights

The strategic asset management service segment is expected to witness significant growth owing to the involvement of development and planning in maintaining infrastructure assets
The in-transit asset segment is expected to grow at a considerable CAGR over the forecast period due to the growth in e-commerce activities across the globe
The support and maintenance segment is projected to exhibit a high CAGR as organizations benefit from support and maintenance activities because they help them improve the efficiency of their assets and, as a result, increase income generation
The aviation asset management segment is expected to grow at a noteworthy CAGR over the forecast period due to an increase in air passenger volume and the launch of new aircraft models
The growing demand for cloud-based asset management solutions from a large number of SMEs based in Asia Pacific, along with the rising middle-class population, higher life expectancies, investors’ gradual transfer from deposits to financial assets, and longer pension durations, has resulted in a need to manage valuable asset data

Wednesday, 1 March 2023

Indoor Farming Market by Argus Control Systems Ltd., Certhon, Richel Group, Netafim

The global Indoor Farming Market size is estimated to reach USD 88,478.9 million by 2030, exhibiting a CAGR of 12.9% from 2023 to 2030, according to the new report conducted by Grand View Research, Inc. The increasing demand for food owing to the rising population is expected to drive the growth. Factors such as declining water supply, urbanization, and climate change have contributed to the loss of arable land. This, in turn, is driving demand for indoor farms to produce food. In addition, challenges, such as rising global temperature and extreme weather conditions, act as a barrier to the traditional farming technique. The European Environment Agency (EEA) has carried out several initiatives to build vertical farms to overcome these challenges and produce food in an eco-friendly way.

Indoor farming increases the crop yield and reduces the farming impact on the environment by reducing the distance traveled in the supply chain. It reduces the need for the land space required to grow plants compared to traditional farming methods by using growing shelves mounted vertically. Rising consumer awareness regarding the consumption of healthy and fresh food is anticipated to positively influence the market for indoor farming during the forecast period. Furthermore, the use of technology, such as LED indoor farming, to create nature-like conditions will help farmers meet the expected demand for food supply in the near future.

Europe dominated the market in 2022 and is anticipated to remain dominant over the forecast period, owing to the continuous adoption of advanced technologies such as LED lighting, and controlled environment agriculture. Asia Pacific is expected to exhibit the fastest CAGR from 2023 to 2030, owing to the increasing indoor farms in countries such as China and Japan. Increasing adoption of greenhouses and vertical farms is expected to support regional growth. In addition, the rising demand for pesticide-free, fresh vegetables and fruits is expected to fuel the regional market growth.

Related Press Release@ Indoor Farming Market Report

Indoor Farming Market Report Highlights

The greenhouses segment dominated the market in terms of revenue in 2022, as these facilities produce higher yields. Greenhouses offer a stable and highly controlled environment for the cultivation of flowers, vegetables, and fruits
By growing mechanism, the aeroponics segment is expected to observe considerable growth over the forecast period as the aeroponics facilitate fast growth in plants (under normal conditions)
The fruits, vegetables, and herbs segment is estimated to register the fastest CAGR over the forecast period, owing to the increasing food consumption along with growing consumer awareness regarding the importance of healthy eating, especially in regions such as Europe and Asia Pacific
The climate control systems segment is projected to expand at the highest CAGR during the forecast period, as crop development can be controlled by adjusting and monitoring the concentration of minerals