India Shared Mobility Market Trends in the Indian Automotive Business: Business Model, 2019–2024

The Indian shared mobility market was valued at $630.7 million in 2018, which is projected to reach $3,466.7 million by 2024, witnessing a CAGR of 27.6% during the forecast period (2019–2024). Among service types, ride hailing service dominated the market during the historical period.

Whereas, during the forecast period, the Indian shared mobility market is expected to witness the fastest growth in the two-wheeler sharing category, owing to its easy availability, time/route flexibility, and affordability (marginal premium for travel with respect to other forms of shared mobility).

Increasing Investments from Investors is a Key Trend Observed in the MarketCost-Effective and Convenient Mobility Option is a Major Factor Driving the Market Growth

The Indian shared mobility market is experiencing substantial amount of investments from major global investors. For instance, in June 2019, a scooter rental company, WickedRide Adventure Services Pvt. Ltd. (Bounce) received an investment of $72.0 million in a fresh funding round, which was led by B Capital Group and Falcon Edge Capital. With this fund, the company looks to expand out of Bengaluru into ten new cities in the coming years. Additionally, with this expansion, the company has planned to add 100,000 more scooters in its fleet in next 12–18 months, with a focus on electric scooters.

India Shared Mobility Market

Owning a private vehicle demands a high investment, which mainly comprises vehicle cost, fuel cost, parking expense, maintenance charge, and insurance cost. In this regard, shared mobility allows user to enjoy the facilities of owning a personal vehicle, without having the need to actually own it. The users can make the payments on the basis of their usage only. Besides, shared mobility is extremely convenient for general public, primarily daily commuters, as they can enjoy driving to their required destination without having the hassles of owning and maintaining their own vehicles. 

Additionally, the users can easily access to the services by booking the vehicles, directly through the companies’ mobile applications. Thus, the cost-effectiveness and convenience of shared mobility facilitates the growth of the Indian shared mobility market.

Segmentation Analysis of India Shared Mobility Market

Geographical Analysis of India Shared Mobility Market

The south region held the largest share in the Indian shared mobility market in 2018, primarily due to the fact that the majority of shared mobility service providers are present in cities in south India, including Bengaluru, Chennai, Hyderabad, and Visakhapatnam. Additionally, the growing demand for car hailing and rental services is boosting the market growth in the region. Whereas, the north region is the second-largest revenue generator in the market, owing to the high demand for shared mobility services among people, primarily for meeting daily commuting and outstation travel needs.

Some of the other major players operating in the Indian shared mobility market include Zoomcar India Pvt. Ltd., Drivezy India Travels Pvt. Ltd., Carzonrent India Pvt. Ltd., Vogo Automotive Pvt. Ltd., WickedRide Adventure Services Pvt. Ltd., Royalbison Autorentals India Pvt. Ltd., Roppen Transportation Services Pvt. Ltd., Bashar Technologies Pvt. Ltd., Meru Mobility Tech Pvt. Ltd., Bycyshare Technologies Pvt. Ltd., Yulu Bikes Pvt. Ltd., Motocruizer Technologies India Pvt. Ltd., Comuto SA, and Mega Cabs Pvt. Ltd.

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Two-Wheeler Sharing Trend in Indian Market

The Indian two-wheeler sharing market was valued at $19.2 million in 2018, which is projected to reach $94.0 million by 2025, witnessing a CAGR of 20.2% during the forecast period (2019–2025). In the vehicle type, the motorcycle/scooter category dominated the market during the historical period.

During the forecast period, the market for motorcycle/scooter sharing service is expected to witness faster growth. This is ascribed to the fact that there are many players providing motorcycle/scooter rental and e-hailing services, and their lucrative two-wheeler sharing services are making the Indian people to shift toward using shared motorcycles and scooters from using other modes of transport.

What are the factors impacting the growth of this market?

1. Increasing Number of Investments is Key trend Observed in the Market
2. Urban Road Congestion is a Major Factor Driving the Growth of the Market

The Indian two-wheeler sharing market is presently filled with various startup companies. To expand their operational areas and to increase their fleet size, they require large amount of funds. For this reason, these players have been receiving investments from investors in forms of debt funding and equity funding continuously; and most of the two-wheeler sharing companies are in talks with various individuals and group companies for funds. For instance, scooter rental company, WickedRide Adventure Services Pvt. Ltd. (Bounce) raised $72 million fund, led by Falcon Edge Capital and B Capital Group, for the expansion of its services into new cities in the near future.

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Due to a large number of vehicles, such as private cars, buses, auto-rickshaws, and motorcycles/scooters, on roads in India, people are facing road congestion issue on daily basis. Most of the urban cities, such as Delhi/NCR region, Bengaluru, Mumbai, and Chennai, are facing heavy traffic. This increases the travel time of commuters. To resolve this issue of daily commuters, two-wheeler sharing companies are providing sharing services, which are convenient for travelling short distances and require less space on the roads than other mode of transport. The growth in ridership from last two-three years has shown that two-wheeler sharing rides are increasingly being used by daily commuters to reduce their travel time.

Competitive Landscape of India Two-Wheeler Sharing Market

The Indian two-wheeler sharing market comprises many start-ups currently. Few of the major players operating in the market are Roppen Transportation Services Pvt. Ltd. (Rapido), Uber Technologies Inc. (UberMoto), WickedRide Adventure Services Pvt. Ltd. (Bounce), Royalbison Autorentals India Pvt. Ltd. (Royal Brothers), and Vogo Automotive Pvt. Ltd. (Vogo).

In April 2019, a motorcycle/scooter e-hailing service provider, Rapido raised around $11.2 million in its Series A funding round, which was led by venture capital firm, Nexus Venture Partners. Rapido also declared that the amount will be used for the operational expansion of the company into new cities in India.

Some other important players operating in the Indian two-wheeler sharing market are Yulu Bikes Pvt. Ltd., Bashar Technologies Pvt. Ltd. (Wheelstreet), Motocruizer Technologies India Pvt. Ltd. (Onn Bikes), ANI Technologies Pvt. Ltd. (Ola Bike), Drivezy India Travels Pvt. Ltd., and ZipHop Technologies Pvt. Ltd.

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Autonomous Vehicle Market Heating Up | Market Research Report, 2015–2030

Market Overview

The global autonomous vehicle market has observed considerable technological development in the recent years, due to which the demand for these vehicles are gaining pace. Rising focus on vehicle safety backed by governments’ regulations to incorporate safety features in vehicle will aid the growth of the market. In addition, growing vehicle sharing market, coupled with increasing customers’ requirement for ease in driving is further expected to benefit the growth of the market.

On the basis of level of automation, the autonomous vehicle market has been categorized into semi-autonomous and fully autonomous. The autonomous vehicles are currently recognized under five levels of autonomy, ranging from Level 0 to Level 5. The autonomy levels from 1 to 3 comes under semi-autonomous category and Level 4 and Level 5 are considered as fully autonomous vehicles. The highest level of autonomy achieved till date is Level 3, whereas Level 4 autonomy is expected to be introduced to customers by 2021. Furthermore, Level 5 autonomous vehicles may take time and might get introduced in mid-2025s.

Based on advanced driver-assistance system (ADAS), the autonomous vehicle market has been classified into adaptive cruise control, automatic emergency braking, automatic parking, and others. Among these, the market for vehicle with automatic emergency braking system is projected to grow at the highest rate during the forecast period, owing to governments’ mandates regarding implementation of automatic emergency braking system. For instance, in the U.S., the National Highway Traffic Safety Administration (NHTSA) set a standard to mandate the automatic emergency braking systems in vehicles by 2022. The regulations made by governments to mandatorily implement these systems in vehicles will act as a growth driver for the market.

Autonomous Vehicle Market

Geographically, North America dominated the autonomous vehicle market, in terms of volume, during the historical period. Technological advancement in the region along with major technological innovators such as Microsoft Corporation, Google LLC, and Aptiv PLC, which are significantly investing in research and development, and testing of technologies of autonomous vehicles and for commercializing them, is a key driver to propel the market for autonomous vehicles in the region.

Market Dynamics

Drivers

Growing concern of safety and security by customers has resulted in the demand for advanced technologies, leading to the demand for upgradation in semi-autonomous and fully autonomous vehicles. Autonomous vehicle technologies have capabilities to significantly affect safety, congestion, and energy use. For instance, there were around 34,200 fatal automobile crashes in the U.S. in 2017, which led to about 37,000 deaths. The use of autonomous vehicles can vividly reduce the number of automobile crashes and offer customers’ safety.

In 2010, the Insurance Institute for Highway Safety (IIHS) anticipated that if all automobiles have sideview (blind spot) assist, forward collision and lane departure warning systems, and adaptive headlights, almost a third of fatalities and crashes can be prevented. Thus, manufacturers and technology innovators are focusing more on improving security of customers by implementing autonomous technologies and hence, boosting the growth of the autonomous vehicle market.

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Market Competitive Landscape

In recent years, many tech companies, automakers, research institutions, software start-ups, telecom providers, insurance companies, and others have joined forces to accelerate the growth and development of autonomous vehicles and expand the autonomous vehicle market. For instance, in 2016, General Motors capitalized $500 million in Lyft Inc., an on-demand transportation company based in the U.S., to expand its research and development (R&D) with Honda Motor Company Ltd., Volkswagen AG, and Mobileye Vision Technologies Ltd. Similarly, in 2016, Toyota Motor Corporation also prolonged its five-year telematics partnership with Microsoft Corporation and invested $1 billion into its R&D.

Major automakers in the global autonomous vehicle market are General Motors, Ford Motor Company, Nissan Motor Company Ltd., Toyota Motor Corporation, Bayerische Motoren Werke AG (BMW), and Volkswagen AG.; and the major technology providers are Google Inc, Intel Corporation, and Apple Inc.

The report will also provide country-wise analysis of the market. Some of the major countries covered in the report are the U.S., Canada, Mexico, Germany, the U.K., the Netherlands, France, Italy, Spain, China, India, South Korea, Japan, Russia, Australia, and U.A.E.

Europe Autonomous Car Market Research Report

Germany Autonomous Vehicle Market Research Report

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How is Increasing Number of Healthcare Institutions Driving Hospital Lighting System Market?

The number of healthcare institutions around the world is growing rapidly because of the growing geriatric population, rising prevalence of chronic diseases, and surging patient base. As per the American Hospital Association, in 2016, the number of hospitals in the U.S. was approximately 15,908.

In addition to this, to provide better facilities to patients, the demand for technologically advanced facilities is increasing. Healthcare service providers are focusing on modifying the hospital environment for minimizing stress of visitors, improving conditions for both patients and staff, and reducing errors.

One way of improving the hospital environment is using efficient lighting systems due to which the requirement for hospital lighting systems is on the rise. According to a report by P&S Intelligence, the global hospital lighting system market generated a revenue of $5,328.1 million in 2017 and is further projected to grow at a CAGR of 6.4% in the coming years.

Several applications of hospital lighting system include examination rooms, operating rooms, clean rooms, entrance, carparks, waiting rooms & common rooms, diagnostic & imaging rooms, corridors & staircases, and patient rooms/ward rooms. Among all these applications, the largest demand for hospital lighting systems was created for patient rooms/ward rooms, as proper installation of lighting systems has a positive effect on the health of the patient by restoring the body’s circadian rhythm.

At the present time, the energy consumption in hospitals is on the rise. However, in order to take care of this situation, the government initiatives to improve energy efficiency in hospitals are increasing as well.

Global Hospital Lighting System Market Segmentation

By Product

• Surface Mounted
• Recessed
• Wall Mounted
• Hanging
• Others (Emergency Lights, Exit Lights, and Step Lights)

By Technology

• Light Emitting Diode (LED)
• Induction
• Fluorescent
• Incandescent

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Growing Trend for Car Security Systems in Market

The increase in vehicle sales, customer’s preference for sophisticated and reliable vehicle security systems and government regulations are the major growth drivers for the global car security systems market. The growing consumer awareness about sophisticated vehicle security features, and vehicle security regulations are the other factors driving the growth of the global market. Owing to the worldwide increase in the production and sales of cars, the global car security systems market is anticipated to witness extraordinary growth during the forecast period. The increasing demand for engine start security and keyless access systems, and growing use of smart mobile applications in vehicle security systems are some of the opportunities, which are expected to give a major boost to the growth of the global market for car security systems in the future.

Car security systems are the systems used to protect the vehicle and prevent the car from getting stolen. Due to the highest population in developing countries, such as China and India, the car sales are also increasing, which is also driving the growth of the global car security systems market.  Western Europe is anticipated to be the second largest market and is likely to show strong potential for car security system in the near future. Car security system has become mandatory for newly produced cars in some of the Western European countries, such as the U.K. and Finland. The German market of car security systems is driven by the compulsory integration of security systems, such as alarms, immobilizers, and remote keyless entry in the cars. North America is poised to show strong growth opportunities for the car security system market, especially in the United States. According to federal bureau of investigation (FBI), in 2013, 699,594 motor vehicles were reported to be stolen in the U.S.  The growing vehicle thefts is a major factor, driving the growth of the global vehicle security systems market.

However, high cost of car security systems and failure of vehicle security systems are some of the factors restraining the growth of the market. The different types of anti-theft security systems are used by vehicle manufacturers; for example, General Motors have a system called content theft deterrent (CTD) system, which starts an alarm if the doors are opened without the key. However, the system does not prevent a thief from driving the car away. As compared to aftermarket anti-theft systems, the factory installed security systems are more reliable and have less probability to misbehave. Another concern with some of the aftermarket anti-theft systems is the durability of the Chinese electronics used in the anti-theft module. The aftermarket systems are mostly equipped with recycled chips or other components of poor quality, which fail in an year or two, while the system starts to cause problems. 

Mitsubishi Electric Corporation, Robert Bosch GmbH, HELLA KGaA Hueck & Co., Lear Corporation, Tokai Rika Co. Ltd., ALPS ELECTRIC CO. LTD., Delphi Automotive LLP are some of the competitors in the global car security systems market.

Market Segmentation:
By Type

• Alarm
• Immobilizer
• Remote Keyless Entry (RKE)
• Central Locking System

By Technology

• Global Positioning System (GPS)
• Face Detection System(FDS)
• Real Time Location System (RTLS)
• Global System for Mobile Communication (GSM)
• Radio Frequency Identification (RFID)
• Others

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Optical Metrology Effectively Tackling the Riddle of Precise Measurements

The global optical metrology market is being driven by the increasing requirement for precise measurements and product assessments in the semiconductor, oil and gas, and manufacturing sectors. Generating revenue of $1,989.2 million in 2017 according to a P&S Intelligence study, the domain is expected to advance with a CAGR of 6.5% during the forecast period 2018–2023.

Optical metrology, in this regard, provides the solution in various avatars, including 3D laser scanners that dominated the productsegmentation of optical metrology market, which also includes video measuring machines and laser micrometery, with more than 70.0% revenue share in 2017.

Coming to the global scenario, North America led the domain in the historical period 2013–2017 in terms of revenue generation, accounting for more than 30.0% market share. It is a universally accepted truth that technology helps make life easier, but on the downside, it makes machines and associated components complicated. As conventional measurement techniques have proved ineffective due to the rising complexities in machines, firms have sought an answer to the riddle of exact measurements and assessments.

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Owing to the growing automotive, aerospace, and defense industries, particularly in the U.S., the adoption rate of this technology for precise measurements grew. However, the future revenue and sales CAGRs of the optical metrology market are expected be the highest in Asia-Pacific, owing to the rapidly expanding automotive industries in China and India.

Thus, it is clear that, as machines and tools keep becoming more complex, optical metrology will be used even more in the coming years.

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Asia Low-Speed Electric Vehicle Market Players, Competition, Situation & Trends Research Report

Stringent government regulations on emissions coupled with the rising demand for cleaner air is driving the growth of the Asia low-speed electric vehicle market. An electric vehicle is the one that utilizes an electric motor for propulsion instead of an internal combustion engine, hence producing no carbon emission. The ‘low-speed’ aspect here concerns the vehicle speed, which ranges between 25 kmph and 50 kmph. On the basis of product, the market can be categorized as two-wheeler, three-wheeler, and four-wheeler. As per a P&S Intelligence study, by 2025, the market for these vehicles will reach 71.8 million units in terms of sales.

In 2017, two-wheelers registered the highest sales in terms of volume (over 75.0%), primarily owing to urbanization in the region and cost-effectiveness of the models. As urbanization increased, more people required modes for short-distance commute, and since electric two-wheelers were easily affordable, these were bought heavily. The reason for their low cost was the rise in use of lithium ion (Li-ion) battery, which is smaller and cheaper than the sealed lead acid (SLA) battery. Preference for li-ion batteries also increased on account of the harmful effects associated with the improper disposal of SLA variants.

Of all two-wheelers, scooters led the low-speed electric vehicle market in Asia-Pacific (APAC) during the historical period in terms of sales and revenue. Their popularity can be attributed to their cost-effectiveness compared to electric bikes, in addition to features such as top speed up to 50 kmph and high comfort level during long-distance journeys. Taking note of these two developments, market players are coming up with improved Li-ion battery-powered electric scooters.

For instance, in 2018, Hero Electric Vehicles Pvt. Ltd. unveiled its Speed NYX e5 electric scooter, which has a top speed of 40 kmph and can run up to 60 km after a full charge. Two-wheelers are predicted to be the most popular product type in the Asia-Pacific (APAC) low-speed electrical vehicle (LSEV) market during the forecast period 2018–2025 as well, three-wheelers will follow. This is substantiated by the fact that the sales of three-wheelers in APAC have increased steadily during the historical period. Favorable government policies toward electrification of public transport systems greatly helped in this regard.

A citable example would be India, where the government, under its FAME-India electric mobility scheme, is encouraging the adoption of electric vehicles by offering subsidies. Since three-wheelers are an essential mode of daily commute in countries, including India and China, these policies and resulting sales of such products are expected to advance the Asia-Pacific (APAC) low-speed electric vehicle market. Manufacturers are increasing their production capacities to meet the growing demand within these countries.

Talking of the overall future sales CAGR, that of four-wheelers is expected to be the highest during the forecast period. Due to rising congestion on city streets, a need is being felt for cars that are compact, freeing up more road space, as well as easily maneuverable. This is where micro cars come in, which, coupled with government focus on reducing emissions, are leading to the development of battery-operated four-wheelers. Though the low-speed EV market in Asia-Pacific (APAC) for micro cars is still small, development of advanced batteries, which can be charged quickly, is expected to aid in its progress.

Therefore, it becomes clear that growing pollution levels will result in increased LSEV sales in APAC.

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