Automotive&TransportationWorld

Usage-based insurance refers to a type of vehicle insurance that leverages in-vehicle communication systems to track vehicle mileage and monitor driving behavior. Thus, the burgeoning sales of telematics-equipped automobiles and mounting demand for connected car services will strengthen the usage-based insurance market in the years to come. The escalating demand for connected cars can be attributed to the mounting customer focus on vehicle and passenger safety and the growing need to stay connected to the outside world. Additionally, the increasing penetration of smartphones integrated with vehicle connectivity systems will create a huge requirement for usage-based insurance . Nowadays, insurance companies are focusing on usage-based policies to improve profitability, as the data collected through connectivity solutions can be used to calculate the insurance premiums to be paid by vehicle owners. Thus, the rising acceptance of in-car connectivity technologies and increasing willingness...

With the surging sales of automobiles, enactment of strict emission norms, and increasing complexities associated with automotive electronics, particularly in connected cars, the demand for automotive diagnostic scan tools is rising sharply. The rising urbanization rate, especially in developing countries such as India, Indonesia, and China, is propelling the requirement for automobiles. As diagnostic scan tools are critical for the efficient and smooth operation of automobiles, their demand is soaring, owing to the expansion of the automobile industry. In addition, the governments of many countries have made maintenance and inspection checks mandatory in order to reduce the emission of greenhouse gases from vehicles, which is also pushing up the demand for automotive diagnostic tools . For example, the Environmental Protection Agency (EPA) enacted the Clean Air Act and amended it in 2001, which made the administration of vehicle maintenance and inspection programs mandatory for 33 loc...

The European Union (EU) mandates the inclusion of alcohol interlock installation facilitation solutions, distraction recognition/prevention features, event (accident) data recorders, emergency stop signals, intelligent speed assistance systems, tire pressure monitoring systems, and reversing cameras or detection systems in trucks being adopted in European nations, from 2022. Similarly, the U.S. Department of Transportation (USDOT) is working with local and state transportation agencies, automobile and device manufacturers, and public to evaluate and test technologies that will allow trucks and associated infrastructure, and smartphones and other devices to exchange information with one another, under its Connected Vehicle Program.  Connected Truck Market Outlook Thus, the increasing implementation of vehicle safety and security norms and the rising integration of technologically advanced features in vehicles will boost the connected truck market growth during 2018–2023. Connected t...

A number of factors such as the surging use of robotics in areas affected by biological, radiological, chemical, and nuclear attacks and the burgeoning demand for autonomous systems in the commercial and defense sectors will facilitate the unmanned ground vehicles (UGVs) market growth during the forecast period (2021–2030). Moreover, the increasing government investments being made in the development of UGVs will also accelerate the market growth in the coming years. According to P&S Intelligence, the market generated a revenue of ~$3 billion in 2020. Unmanned Ground Vehicles Market Outlook One of the key growth drivers for the market is the booming demand for UGVs from the defense sector. The surging investments being made by governments in upgrading their defense fleets and the mounting military expenditure of several countries will fuel the adoption of UGVs in the defense industry. These vehicles are used for transportation, combat support, and search and rescue operations. For...

The global automotive telematics market revenue stood at $27.7 billion in 2019 and it is predicted to rise to $149.9 billion by 2030. According to the forecast of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 16.6% during 2020–2030 (forecast period). The market is being driven by the soaring requirement for greater vehicle safety and more efficient road traffic, mushrooming deployment of connected vehicles, and the implementation of favorable government regulations regarding the adoption of automotive telematics systems across the world. Automotive Telematics Market Outlook Road accidents are one of the leading causes of deaths all over the world. According to the World Health Organization (WHO), road crashes claim the lives of 1.3 million people every year. Furthermore, the organization found that road accidents cost many countries around 3% of their gross domestic product (GDP). Thus, the rising incidence of these accidents is fueling the d...

The surging use of advanced driver-assistance systems (ADAS) and smart infotainment systems in automobiles and plunging cost of the ethernet technology are expected to drive the automotive ethernet market at a CAGR of 19.4% during the forecast period (2021–2030). Moreover, the soaring investments in the connected car field will aid the market revenue in rising from ~$2 billion in 2020 to ~$10 billion by 2030. In recent years, the increasing adoption of autonomous vehicles and connected features in conventional vehicles has become a prominent market trend. Automotive Ethernet Market Outlook The rising integration of safety and security systems is one of the key growth drivers for the market. Human errors, such as failure to pay attention, inappropriate speed, and inadequate distance from the vehicle in front, are responsible for most road accidents. To mitigate road accident cases, governments of various countries have issued numerous regulations regarding the integration of safety syst...

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. 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...