Electric Vehicle Communication Controller Market to Reach $553.4 Million in 2024

The requirement for electric vehicles across the world is increasing rapidly due to the growing levels of pollution. People are becoming more and more aware regarding the degrading quality of the environment and thus are opting for vehicles that do not emit harmful fumes. The governments around the world are also providing support for increasing the adoption of electric vehicles. A major problem regarding the adoption of electric vehicles was the lack of electric vehicle charging infrastructure, which is why the governments are providing subsidies and tax exemptions to the charging infrastructure providers.

Attributed to these factors, the situation regarding charging infrastructure for electric vehicles is improving, which is further resulting in the growing demand for electric vehicle communication controller (EVCC). According to a study conducted by P&S Intelligence, in 2018, the global Electric Vehicle Communication Controller Market reached a value of $97.0 million and is expected to generate $553.4 million in 2024, advancing at a 34.8% CAGR during the forecast period (2019–2024). EVCC and supply equipment communication controller (SECC) are two types of systems used in electric vehicles, where EVCC implements a communication between the vehicle and SECC, and SECC implements a communication between one or multiple EVCCs for interaction with secondary actors.

When charging type is taken into consideration, the EVCC market is bifurcated into inductive and conductive. Between these two, the larger demand was created for conductive charging option during 2014–2018 and the situation is projected to remain the same during the forecast period as well. The primary reason for this is the early adoption and low price of conductive chargers for personal vehicles across the globe. Furthermore, plug-in electric vehicles, which make use of conductive chargers, are dominating the electric vehicle domain at the present time. Because of this, the installation rate of conductive chargers is more than that of inductive chargers.

Attributed to the growing adoption of electric vehicles, the investments in charging infrastructure are also increasing. In addition to the installation of new charging infrastructure, the existing charging infrastructure needs to be improved for easy accessibility and higher efficiency. Companies in the domain are making use of government provisions for producing electric vehicles and charging infrastructure, which is driving the demand for EVCC. For example, Chargefox Pty. Ltd. received an investment of $15 million from different investors and the company will utilize this amount for installing rapid electric vehicle chargers across Australia.

Among the different regions, namely Europe, Asia-Pacific (APAC), North America, and Rest of the World, the highest demand for EVCCs was created by the APAC region during 2014–2018. This was ascribed to the increasing adoption of electric vehicles and installation of related charging stations in China in recent years. Due to rising government support, decreasing total cost of ownership, and surging environmental concerns, China is witnessing a high requirement for electric vehicles, which, in turn is driving the demand for EVCCs in the country. The fastest growth in demand for EVCCs is predicted to be registered by Europe in the near future.  

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Scooter Sharing Market to Grow by Five Times during 2019-2025

Across the world, the rate of industrialization and level of urbanization are increasing, which are resulting in the growing spending power. People are now able to purchase stuff that they couldn’t earlier; a classic example is personal vehicles. While the primary purpose of buying them has always been transportation, in certain places, particularly developing countries, people buy them just as a status symbol. The booming automotive sales have led to several issues, such as air pollution, as vehicular exhaust contains many harmful gases, including sulfur dioxide, nitrogen oxides (NOx), and carbon dioxide (CO₂). To tackle the issue, governments and international organizations are encouraging people to shun private transport and go for public transport instead, especially for short distances.

One of the concepts in this regard, which is rapidly becoming popular, is scooter sharing, which lets commuters rent such small vehicles for short-distance traveling. From $99.8 million in 2018, the scooter sharing market is predicted to grow to $553.0 million by 2025, at a 24.4% CAGR during the forecast period (2019–2025). Shared scooters can be hired for one-way as well as round trips, of which one-way trips have been more popular. People are increasingly using such vehicles for first- and last-mile connectivity and also as part of a multimodal approach, wherein scooters are ridden to reach a bus stop or metro station.

As scooters take up less space on the roads as well as require smaller parking areas, the government of several countries are promoting these for regular commuting. With the increase in the number of vehicles on the roads, as a result of the increasing disposable income and population, urban congestion is also rising, with pedestrians barely getting space to cross roads in certain places. With more people opting for shared scooters, it is being expected that road congestion will come down and traffic flow will be a lot smoother than presently.

Another advantage of traveling by shared scooters is convenience and cost savings. These services do away with the need to own a vehicle, which is a costly affair, owing to the high vehicle purchase and gasoline/diesel prices, insurance premium, parking fee (in certain places), and the added expenditure on regular maintenance and servicing. Users only have to pay an initial registration or scooter unlocking amount and then additional charges on the basis of the journey time and distance, the charges for all of which are quite low. Further, services are generally available throughout the day, with a simple tap on the smartphone app of sharing companies.

To make access to services better, shared scooter firms are leveraging the platform as a service (PaaS) technology to develop their own mobile apps. Under the model, vendors subscribe to a software, usually available on the cloud, to carry out business and also save on operational costs. Another among the technological developments in the shared mobility domain is internet of things (IoT), wherein vehicles have their own network connection. This enables service providers handle navigation, optimize the sharing process via efficient vehicle tracking and monitoring, and analyze problems from a remote place.

Presently, Europe displays the highest usage rate of scooter sharing services, owing to the large number of regional cities which have such mobility programs. Though the concept originated in San Francisco, U.S., it has witnessed the fastest expansion in Europe, where such services are available in over 60 cities, currently. During the forecast period, the scooter sharing market growth in Asia-Pacific (APAC) is predicted to be the most rapid. The primary reason behind this would be the swift adoption of shared scooters in Taiwan and China.

Hence, as more people realize the negative effects of the growing number of vehicles, they would start hiring shared scooters, at least for shorter distances, more often.

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Battery Management System Market Energized says by P&S Intelligence

The global automotive battery management system market is forecasted to witness significant growth in the coming years, owing to increasing demand for hybrid electric and battery electric vehicles. The increase in the demand for these vehicles is a result of the implementation of stringent government regulations with respect to environment degradation and government incentives in the form of subsidies, grants, and tax rebates to encourage the use of eco-friendly modes of transportation.

Based on application, the automotive battery management system market is categorized into passenger cars, commercial vehicles, golf carts, and e-bikes. Of these, passenger cars held the largest share in the market in 2017, recording the highest sales volume. Besides, the category is expected to continue leading the market in the coming years, owing to increasing urbanization and rising disposable income of people in developing economies of the world.

Geographical Outlook

APAC, led by China, recorded the highest sales volume in the automotive battery management system market in 2017. The region is expected to continue holding the largest market share in the coming years, mainly on account of China’s government policies and initiatives favoring the production of automobiles, particularly electric vehicles. India and Japan are also expected to play an important role in the growth of the APAC market in the near future. The government of many Asian countries has plan to end the production and sales of gasoline and diesel vehicles in coming years. This move is expected to increase the market of electric vehicles in the region, benefiting the growth of the market during the forecast period.

Various environmental policies and regulations coupled with governments’ support in the form of subsidies, grants, and tax rebates are the key factors driving the growth of the automotive battery management system market. This is because the sales of hybrid electric and pure electric vehicles directly affect the market demand for automotive battery management systems. Governments, across the world, are working toward reducing carbon emission levels through the complete electrification of both public and private vehicles. In addition, environmental protection and awareness agencies are encouraging the adoption of eco-friendly vehicles, globally.

The global automotive battery management system market is witnessing a number of partnerships, collaborations, and mergers and acquisitions among major players. Apart from this, many automotive electronics providers have added battery management systems as one of their verticals to their business. Besides, the competition in the market is expected to increase in the near future. The market primarily comprises component vendors and battery management system manufacturers. Some of the key players in the market are Analog Devices Inc., NXP Semiconductors NV, AVL LIST GmbH, Texas Instruments Inc., Continental AG, HORIBA MIRA Ltd., Intel Corporation, Johnson Matthey PLC, Robert Bosch GmbH, and Toshiba Corporation.

Also Read About "Electric Vehicle Battery Market" by P&S Intelligence

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North America Air Quality Monitoring Market Will Led to Huge Growth and Share in Near Future

According to P&S Intelligence, the North American air quality monitoring market is expected to generate $2,628.5 million in revenue by 2024. Due to increasing air pollution levels and growing awareness about its effects on human health and environment, and stringent regulatory framework for air pollution reduction, the market is advancing steadily.

On the basis of product, the North American air quality monitoring market is divided into indoor and outdoor products. The market for outdoor monitoring products is anticipated to experience faster growth during the forecast period (2019–2024), at a CAGR of over 10.0%. Due to increasing acid rain problem and industrialization in the region, the demand for outdoor monitoring products is expected to rise. Further, looking at the indoor category, the market is subdivided into fixed and portable products, out of which the fixed indoor monitoring product category is presently leading it.

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Now, coming to the particulate type, the North American air quality monitoring market is classified into fine particles and coarse particulates. The demand for monitoring products that detect fine particle levels, eventually helping people in reducing these, is projected to experience faster growth during 2019–2024 at a CAGR of 10.3%. The growth can be attributed to the increasing amount of particulate matter 2.5 (PM2.5) being discharged by vehicles and industries, which is leading to the rapid adoption of equipment that can detect it.

Companies operating in the North American air quality monitoring market are introducing a number of new products to attain a larger market share. For instance, in May 2018, HORIBA Ltd. developed the Smart Emission Measurement System (SEMS) that helps in collecting and analyzing emission data, thereby, improving real driving emissions (RDE) test procedures. 

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Kick Scooter Sharing Market to Attain $4,090.5 Million in 2025

The primary consumer base for kick scooter sharing services are the people between the ages of 20 and 35 years, or millennials. The preference of millennials has been quite different from the conventional methods, which is why their inclination towards shared mobility, kick scooter sharing included, is increasing. Rather than buying their own vehicles, people have started opting for shared mobility services for convenience and cost-effectiveness. Kick scooter sharing in particular has become a fun and recreational traveling option for millennials. Apart from this, this concept is also gaining popularity among tourists for exploration and sightseeing purposes. It is due to all these factors that the demand for kick scooter sharing services is growing.

Kick scooters sharing services refer to the utilization of kick scooters for covering short distances, generally 5 km or less. In 2018, the global kick scooter sharing market generated a revenue of $143.4 million and is expected to reach a value of $4,090.5 million in 2025, advancing at a 51.3% during the forecast period (2019–2025). The two models of kick scooter sharing services are multimodal and first and last-mile. Out of these, the first and last-time services were more in demand in 2018 and are the situation is projected to remain the same in the coming years as well.

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Among all the regions, namely Europe, Latin America, Middle East and Africa (LAMEA), North America, and Asia-Pacific (APAC), the largest demand for kick scooter sharing services was created by North America in 2018. The reason for this was the presence of major players and the rapid adoption of these services in this region. Kick scooter sharing services were introduced in North America in 2017 for dealing with the first and last-mile commuting problem. The fastest growth in demand for kick scooter sharing services is expected to be witnessed by Europe during the forecast period.

The emergence of kick scooter sharing services has further provided people with an effective solution to deal with the rapidly increasing road congestion in urban areas. The growing population, increased affordability of vehicles, and rising migration rate from rural to urban areas has led to a surging number of vehicles on the roads. Roads in urban areas are increasingly congested during the peak hours, which is why the inclination towards introducing alternative modes of mobility is rising. By making use of kick scooters, commuters can travel to their destination without too much hassle. Furthermore, these services can significantly reduce the traffic on roads as they take up less space.    

Must Read: Shared Mobility shaping the automotive sector platform, P&S Intelligence Says

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Bike Sharing Market Growing on Account of Rising Road Congestion

With urbanization, the demand for daily commuting is also growing. People need an efficient transportation mode to travel from their homes to an intermediate point, such as a bus stop or metro station, and then from that intermediate point to work, college or any other destination. Additionally, a large number of people also travel directly between their home and destination, without using intermediary modes of transport. Hiring a cab or using other public transit services can be slightly expensive and not always reliable, in terms of efficiency, which is why the demand for micromobility services, including bike (bicycle) sharing, is rising.

From $2.7 billion in 2018, the bike sharing market is expected to grow to $5.0 billion by 2025, at a 10.2% CAGR during 2019–2025 (forecast period). Dock-less and station-based are the two types of bike sharing services available across the world, of which dock-less services were more popular in 2017–2018. This is because dock-less bikes can be picked up and dropped off anywhere, as per the convenience of riders, which makes them more popular. Even service providers prefer dock-less bikes, as these require less capital expenditure than the station-based system.

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Among the two types of bikes available for sharing purposes — pedal and electric — e-bikes are rapidly gaining popularity. The major reason behind it is that such vehicles are capable of higher speeds, compared to manually operated bikes. As the demand for higher speeds for short-distance traveling is increasing, so is the preference for e-bikes. People are ignoring the fact that sharing services on pedal-assisted bikes are cheaper than e-bikes, as the latter offer effortless driving, more convenience, and variable motor power, apart from higher speed.

Along with offering commuters cost efficiency, bike sharing also helps in tackling the problem of road congestion. With the increasing population, especially in cities, the number of vehicles on the roads is also going up. This is leading to the growing problem of urban congestion, which is prompting governments across the world to encourage the usage of bikes for first- and last-mile commute. As such vehicles take up significantly less space on roads and also require smaller parking slots, these help in controlling the traffic congestion.

Yet another factor tipping the scales in shared bikes’ favor is the convenience they offer to users. Commuters have to pay a small registration fee, followed by additional charges for every 30 minutes of travel. Additionally, bicycles are available 24 hours a day, making round-the-clock commute possible. Service providers have mobile applications, which provide important details, regarding the bikes, to users, along with instant booking facility. As there are no fixed parking spots (for dock-less services), people can keep the vehicles anywhere, after the end of their journey, which saves the time, otherwise spent in locating parking stations.

The bike sharing market growth in Europe is predicted to be the fastest across the globe, as a large number of service providers would venture into the region in the coming years. In regional countries, bikes are being rapidly made available near major transit hubs, such as railway stations, thereby offering users convenience and ease of travel. Additionally, the European Union (EU) also promotes such services, as they are environment-friendly and help reduce traffic.

Therefore, with an increasing number of people demanding cost-effective daily commuting options, the popularity of bike sharing services would continue increasing.

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Micromobility Market Predicted to Generate $9.8 Billion in 2025

Micromobility is rapidly becoming one of the most viable options for people who need to cover short distances, five miles or less, quickly. The utilization of light duty vehicles, such as kick scooters, scooters (electric and conventional scooters), and bikes (electric and pedal bikes), come under this mode of transportation. The rapidly surging road congestion is one of the prime factors which are resulting in the growing demand for micromobility across the world. Urbanization, rising middle-class population, and growing affordability have led to an increased number of vehicles on the road. It is in order to take care of these problems that several countries are looking for alternative ways of traveling.

Attributed to all these factors, the global micromobility market is expected to reach $9.8 billion in 2025, from $3.0 billion in 2018, advancing at a 19.9% CAGR during the forecast period (2019–2025), as per a research conducted by P&S Intelligence. Kick scooter sharing, bike sharing, and scooter sharing are the three service types provided by micromobility. Out of these, the largest demand is projected to be created for bike sharing during the forecast period because of the extensive usage of these services in the Asia-Pacific (APAC) region, particularly in China. The fastest growth in demand is predicted to be registered by kick scooter sharing in the coming years.

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One of the key factors which is leading to the rising requirement for bike sharing services is that it is an economical mobility option. The commuting cost associated with bike sharing services is quite low, with an initial fixed fee for unlocking the bike and $0.15 per 30 minutes of travel on an average, which is much less than that of other public shared mobility services. While e-bike sharing costs more than pedal bike sharing, shared e-bikes are more economical than other modes of shared transport services. Due to these factors, various companies have started providing subscription-based bike sharing services on monthly, weekly, or daily basis, which is expected to make commuting more economical for regular users.

Furthermore, the demand for kick scooter sharing services is growing due to the rising popularity of kick scooters as a fun and recreational traveling option. The primary consumer base for kick scooter sharing services has been observed to be the millennial group (average age between 20 and 35 years). These users consider kick scooter sharing as an enjoyable and fun option for commuting. In addition to this, a significant number of solo travelers find these services useful for sightseeing and exploring new places. It is due to these factors that the popularity of kick scooter sharing is gaining traction.

Out of all the regions, namely Europe, Latin America, Middle East and Africa (LAMEA), North America, and APAC, the APAC region is projected to account for the major share of the micromobility market in the coming years. The primary reason for this is the presence of major players in region, such as Ofo, Mobike, and Hellobike. Furthermore, these services are cheaper than all the other shared mobility services that make them an attractive option for people who need economical services. During the forecast period, the fastest growth in demand for micromobility is projected to be witnessed by the LAMEA region.  

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