Automotive Digital Instrument Cluster Market Displaying Healthy Growth

The growing sales of premium cars, increasing demand for electric vehicles, and rising penetration of in-vehicle safety features are accelerating the growth of the automotive digital instrument cluster market. In 2017, the market generated a revenue of $2,024.6 million, and it is predicted to witness a CAGR of 21.8% during 2018–2023 (forecast period). Automotive digital cluster is a set of instrumentation, which shows information in the digital form instead of the analog one. It is placed on the dashboard in front of the driver behind the steering wheel, and it displays the map, speed, and navigation prompts.

Based on display, the automotive digital instrument cluster market is categorized into organic light-emitting diode (OLED), liquid crystal display (LCD), and thin-film transistor LCD (TFT-LCD). Out of these, the TFT-LCD category made a revenue contribution of more than 60.0% to the market, and it is expected to maintain its dominance during the forecast period. This is mainly ascribed to the surging demand for better displays, globally, and TFT-LCD offers improved image quality in terms of addressability and contrast.

In many countries, due to the rising disposable income, the sales of premium cars are surging. In 2017, Mercedes-Benz car sales rose to 2.29 million units, whereas BMW car sales increased by 4.2%. The global sales of other premium car brands, such as Audi, Volvo Cars, Lexus, Land Rover, and Porsche, augmented by around 5.0% in 2017. Automotive digital instrument clusters are quite costly and at the nascent growth phase, therefore find extensive installation in premium cars. Thus, the rising demand and sales of premium cars are resulting in the market growth.

• Increasing Premium Car Sales Strengthening Automotive Digital Instrument Cluster Market
• Europe reigns as the largest automotive digital instrument cluster market 

Furthermore, the production of electric vehicles is anticipated to be considerable during the 2018–2023 period, as these are a sustainable conveyance system. Due to the growing concerns about increasing fossil fuel prices and rising focus toward greener and cleaner environment and energy conservation, the demand for electric cars is expected to thrive during the forecast period. As these vehicles function on electricity, they are required to display information such as the amount of battery charge left, electricity stored, and expected mileage on current charge that can be easily depicted on digital instrument clusters.

Hence, the growing sales of premium cars and electric vehicles are anticipated to drive the progress of the automotive digital instrument cluster market.. Read More

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Automotive Window and Sealing Systems Market Business Outlook, 2019-2025

The global automotive window and sealing systems market is witnessing growth on account of the growing vehicle manufacturing industry. Continuous efforts by original equipment manufacturers (OEMs) to make vehicles fuel-efficient by using advanced polymers in the manufacture of automotive window and sealing systems is also helping in this regard. According to P&S Intelligence, the market is projected to reach $38.7 billion by 2025, witnessing with a CAGR of 7.6% during the forecast period (2018–2025).

Waist belt seal, glass run channel, roof ditch molding, and hood seal are some commonly used products for sealing individual automobile components. For better understanding, the automotive window and sealing systems market has been segmented by component, material, application, end use, and region. The material segment is further categorized into ethylene propylene diene monomer (EPDM), thermoplastic elastomer (TPE), thermoplastic vulcanizer (TPV), and others. Among these, EPDM held over 85% market share in 2017 in terms of sales volume; however, systems made of TPE and TPV are being increasingly bought owing to their high heat and chemical resistance.

In the past few years, the demand for advanced automotive window and sealing systems has increased due to the rise in vehicle sales. As per a Times of India report dated January 2018, car sales in India crossed the three million mark for the first time in 2017. Furthermore, sales of passenger vehicles grew by 9.2% in 2017, reaching nearly 3.2 million as against 2.9 million in 2016. Globally, light passenger vehicle sales stood at 84.24 million units according to a Business Insider report.

Another trend with respect to the automotive industry has been the worldwide demand for better fuel economy in vehicles. Since industrialization is resulting in environment degradation and subsequent global warming, the results of which are irreversible climate change and uncertain weather conditions, the demand for eco-friendly technology is on the rise. Certain polymers used in automotive window and sealing systems are lightweight, which further reduces the weight and fuel consumption of the vehicle. Thus, with the increasing use of modified polymers by OEMs, the automotive window and sealing systems market is witnessing significant growth globally.

In view of this, electric vehicles are also expected to provide OEMs with a lucrative opportunity for growth. Presently, a considerable number of people are apprehensive about e-cars because of the range limitations of these vehicles. Therefore, manufacturers are working actively towards making these vehicles lightweight to increase their fuel economy and thereby the range. Hence, the growing use automotive window and sealing systems made from lightweight polymers is expected to aid in the automotive window and sealing systems market progress in the near future.

Thus, it can be concluded that the rising demand for fuel-efficient vehicles and growth in the automotive industry are driving the domain globally.

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Automotive Head-Up Display - Changing the Face of Automotive

The global automotive head-up display market is expected to observe significant growth during the forecast period 2019–2025, on account of the increasing demand for the advanced driver-assistance system (ADAS) in vehicles for improved driver safety and enhanced driving experience. Furthermore, the rise in adoption of autonomous and connected vehicles is expected to benefit the market for head-up displays in the near future.

The automotive head-up display market has also been categorized into augmented reality and conventional technologies. Of the two, the conventional head-up display technology is expected to hold the larger market share in 2025. Furthermore, among different vehicle types, which include internal combustion engine (ICE), plug-in electric vehicle (PEV), and hybrid electric vehicle (HEV), the PEV category is expected to witness the fastest growth in the market during the forecast period. This can be mainly attributed to the growing demand and increasing government support for fuel-efficient and eco-friendly vehicles, especially PEVs.

Geographically, Asia-Pacific (APAC) is expected to be the largest revenue contributor in the automotive head-up display market during the forecast period, owing to the rising automobile production in the region and the growing adoption of combiner-projected head-up displays in mid-segment cars. Moreover, several American and European vehicle manufacturers have shifted their manufacturing plants in developing countries of the APAC region. Mid-segment cars are expected to be the key application area for the installation of head-up displays during the forecast period on account of the declining cost of these devices. Furthermore, the growth in the automotive industry in developing economies, such as China, Japan, and India, is expected to drive the automotive head-up display industry.

The growing adoption of the ADAS system, supported by the government mandate on its incorporation in automobiles, is a key driver for the growth of the automotive head-up display market. Head-up display is one of the main components that are incorporated into the ADAS system for improved driving experience and vehicle safety. Government in many countries have, thus, passed regulations for the incorporation of the ADAS system in automobiles. These mandatory regulations are expected to benefit the market during the forecast period. In addition, growth in the automotive industry and increasing vehicle production across the world are expected to drive the market growth in the near future.

The global automotive head-up display market is fairly competitive owing to the presence of several players. Key market players are increasingly investing in research and development to incorporate advanced features in head-up displays. Some of the leading vendors in the market are Robert Bosch GmbH, DENSO Corporation, Nippon Seiki Co. Ltd., Visteon Corporation, and Continental AG. Other important players in the industry include Panasonic Corporation, Yazaki Corporation, Harman International Industries Inc., Garmin Ltd., and MicroVision Inc...Read More 

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What are the historical size and the present size of the automotive adhesives and sealants market segments and their future potential?

Rising lightweight vehicle demand and growing automobile production are some of the prime factors behind the progress of the automotive adhesives and sealants market. In 2017, the market attained a size of $8,413.7 million, and it is predicted a reach $11,871.6 million by 2023, progressing at a CAGR of 6.0% during the forecast period (2018–2023). Adhesives and sealants are used for different bonding and sealing applications in the automotive industry, whereby they help in enhancing the performance, driving comfort, and safety of vehicles

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The use of adhesives and sealants also helps in improving the safety of automobiles. According to the World Health Organization, about 1.35 million people die due to traffic accidents every year. To deal with factors like this, vehicle safety standards and regulations are becoming stricter worldwide. For example, The European New Car Assessment Programme (Euro NCAP) offers consumers information on the safety of new cars.

The organization provides an independent assessment of the safety level for the cars that are sold in Europe. Initiatives such as this certainly help customers take an informed decision on which model to purchase. Such vigilance is compelling automotive manufacturers to focus on improving the safety level of vehicles. Because adhesives and sealants provide integrity to the bonnet and boot and are capable of absorbing the impact of head-on collisions, their use for manufacturing better, lightweight, and safe vehicles is increasing.

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The use of adhesives and sealants in electric vehicles is quite low owing to their less engine parts. But the rising focus on structural integrity along with the desire to decrease the overall vehicle weight is anticipated to escalate the usage for these materials during the forecast period, thereby resulting in automotive adhesives and sealants sector growth. 

Further, automobile manufacturers are looking for ways to produce the lightest vehicle to maximize the power and speed. Manufacturers are using lightweight materials such as composites, plastics, and aluminum in place of steel for producing auto parts. These materials can’t be bolted or welded to keep the vehicle parts together, and therefore adhesives and sealants are extensively used by the manufacturers. Thus, the surging production and sales of lightweight vehicles is predicted to accelerate the growth of the automotive adhesives and sealants sector during the forecast period.

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Global Sleeping Aids Market is Projected to Grow at a Decent Pace for the Next Few Year

The global sleeping aids market is being driven by the increasing geriatric population, rising prevalence of obstructive sleep apnea (OSA) and insomnia, and expanding healthcare sector. It generated a revenue of $69.5 billion in 2017 and is slated to grow at a CAGR of 6.5% during the forecast period (2018–2023). Sleeping aids are medical devices and drugs that assist a person in falling asleep. Products in the market range from sleep apnea devices and medication to mattresses and pillows, and sleep laboratory devices.

The sleeping aids market is observing the rising popularity of wearable sensors and monitoring devices. Besides recording physiological parameters of a patient’s body, these devices are equipped with sensors that help in measuring the sleep quality and monitoring sleep disorders. These devices have a user-friendly design and do not require any special know-how to operate them, which makes them a popular product among patients suffering from sleep disorders. LifeVest by ZOLL Medical Corporation, BioHarness by BIOPAC Systems Inc., and Zio XT by iRhythm Technologies Inc. are some wearable monitors and sensors.

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In the sleeping aids market, continuous positive airway pressure (CPAP) devices are being increasingly used by sleep apnea patients. These offer uninterrupted sleep to patients by controlling snoring. This device consists of a mask that is attached to a tube, along with a pump. The demand for these devices is increasing due to technological improvements, such as a mask that covers only the nose and use of soft material. CPAP humidifiers, which keep the inside-air moist, are a type of CPAP devices manufactured by companies such as ResMed Inc., Respironics Inc., and Koninklijke Philips N.V.

Governments and various private organizations are now increasingly investing in research and development activities to find a better treatment for sleep disorders. Numerous start-ups working on finding an effective way of controlling and preventing such disorders are being supported by governments of developing and developed nations alike. This has enabled the customers to access tailor-made therapies, sleep monitoring devices, and mobile apps. For instance, Oventus Medical won a $2,950,000 Australian federal government grant in February 2017 for research on sleep apnea.

Hence, the market for sleeping aids is expected to grow because of the above-mentioned factors during the forecast period.

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Eyewear Market Business Global Outlook

The global eyewear market is anticipated to grow in the coming half decade, due to increasing awareness of UV exposure dangers, rising number of visual deficiencies, demand for trendy sunglasses, and optical frames, along with increasing usage of contact lenses by individuals for medical, as well as personal use.

The demand for eyewear has been shifted from actual requirement to desired requirements. Conventionally, eyewear was utilized to overcome the deficiencies of poor eyesight. This increased the usage of spectacles more on the personal front, over using it for physical ailment. Gradually, an individuals’ mindset has changed over a period of time, also the alternate uses of spectacles gave a major push to the global eyewear market.The demand for sunglasses emerges from the increasing consciousness of the ill effects of harmful UV rays, while the inclination of people towards new adopting fashion trends, has contributed to the growth of the global eyewear market. Contemporary innovations and technological advancements have added to the variety and quality of eyewear with an aesthetic appeal and style, making eyewear a personality enhancing accessory.

The global eyewear market is segregated into four divisions geographically: Europe, North America, and Asia-Pacific. The rest of the World remains major sub-divisions of the global eyewear industry. The developed markets of North America and Europe have been traditional revenue generators, in the global eyewear market. North America possesses a major share of total revenue, in terms of aggregate demand of eyewear. Europe leads in terms of summative revenue accumulation, from eyewear sales. Growth prospects from short to medium time period are high in the emerging nations of Asia-Pacific, and Latin America. The Asia-Pacific region is the fastest growing regional market in terms of eyewear sales. It has become the key source of acceleration in the growth of the global eyewear market. The expansion in the eyewear market of Asia-Pacific is attributed to factors, like the presence of unsaturated markets, growing disposable incomes, developing economies, and the increasing awareness of visual ailments and regular eye examinations. Along with this, the increased urbanization in the unsaturated markets of Asia-Pacific, and major changes in lifestyle patterns, with respect to the growing hectic schedule of a modern man, creates ample scope for the growth of the global eyewear market.

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The global eyewear market can be categorized on the basis of functions into spectacles, and contact lenses. Contact lenses are a major medical invention, in the global eyewear industry. This medical advancement has significantly contributed to the global eyewear market. Demand for such novel innovations, are driven by affluent and aesthetic desires of societies. On one hand,the advancement in laser eye surgeries has restricted the growth of the eyewear market. The introduction of contact lenses has served an easy way for people to shun eyeglasses, without the need of laser treatment, thus propelling the growth of the global eyewear market.

Apart from serving visual deficiencies, fashion needs, and protection from UV sunrays, the global eyewear market caters all types of an individual’s needs.

The global eyewear market consists of concentrated international market players, as barriers within the entry are high, thus operating mostly as an oligopoly, with dominance of few large participants. However, there are still unaddressed niches in the eyewear industry making scope for new emerging business models and participants. Major Industry players are Essilor International, Luxottica Group SpA, Carl Zeiss, AG Marcolin S.p.A, and Marchon International Ltd among others.

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Growing Trend for Kick Scooter Market

The global kick scooter market is currently in its nascent phase; however, it is expected to observe notable growth during 2019–2024 on account of the increasing demand for last-mile transportation solutions and the emergence of kick scooter sharing fleets. Megacities across the world are facing issues of pollution and congestion as a result of rapid urbanization. Nearly 45% of the traffic in the U.S. is caused by cars that are used for traveling less than three miles a day, and micromobility solutions, such as kick scooters, can help reduce this snarled-up traffic substantially.

Based on battery type, the market has been categorized into lead acid and lithium-ion (li-ion) kick scooters. Between the two, li-ion kick scooters are expected to witness faster growth in demand during the forecast period. This can be majorly attributed to the advantages of li-ion batteries over lead acid batteries. Li-ion batteries offer more energy density, are compact and lightweight, and hold the charge for a longer time. Furthermore, the falling price of these batteries is propelling their adoption, thus boosting the category growth in the kick scooter market.

The kick scooter market has also been classified into personal, rental, and sharing applications. Of these, kick scooters used in the sharing fleet are projected to witness the fastest growth during the forecast period. Kick scooter sharing service is evolving and is gaining ground across several countries. The service has enabled the users to travel to their destinations without having the need to own vehicles and bear secondary charges, including maintenance, insurance, and parking. Such advantages are expected to boost the demand for these vehicles for sharing services in the near future.

Geographically, Asia-Pacific holds the largest share in the kick scooter market, owing to the major adoption of these vehicles in China. The presence of key electric kick scooter manufacturers, developed electric vehicle value chain, extensive government support for electric vehicles, availability of low-cost batteries, and strong customer base are some of the factors that are boosting the adoption of these vehicles in China, thus driving the market in the APAC region.

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Investments in kick scooter companies are accelerating. The electric kick scooter market is currently at its nascent stage, but is steadily growing with the increase in scooter startups offering kick scooters for sharing purposes. Competition in the market has grown in recent years and so have the investments. For instance, in July 2018, Google Ventures, an Alphabet Inc.’s venture capital division, led a $355 million funding round for Neutron Holdings Inc. (LimeBike).

Some of the major players operating in the industry are Razor USA LLC, Segway Inc. (Ninebot Inc.), Xiaomi Corporation, Shenzhen Xiaobaima Energy Tech Co. Ltd., Ningbo MYWAY Intelligent Technology Co. Ltd., Spin, Skip, Scoot, PopScoot Singapore Pte. Ltd., Tier Mobility GmbH, WIND Mobility, VOI Technology AB, Vogo Automotive Pvt. Ltd., Dott, and LMTS Holding S.C.A.

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