Smart Home Healthcare Industry Growth Rate and Future Analysis

Surging geriatric population as well as rising demand for personalized healthcare, mHealth technologies and advanced smart home healthcare technologies are taking the smart home healthcare market forward.

Valued in 2017 by P&S Intelligence at $4.5 billion, the domain size is predicted to grow to $30.0 billion by 2023 at a 37.3% CAGR during the forecast period 2018–2023. Smart home healthcare refers to the use of IT-enabled devices at home for healthcare applications, including safety and security monitoring, fall prevention and detection, health status monitoring, memory aid, nutrition/diet monitoring, and others.

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According to the World Population Ageing report published by the United Nations Department of Economic and Social Affairs (UNDESA) in 2017, people above 60 years of age, who numbered 382 million in 1980, increased to 962 million in 2017. Further, it is being estimated that by 20500end, the elderly across the world would number 2.1 billion. With the growing geriatric population, the demand for personalized care at their home is predicted to increase, taking the smart home healthcare market ahead during the forecast period.

Historically, North America contributed the largest revenue to the domain and will continue to do so during the forecast period as well. However, the fastest smart home healthcare market growth is expected in Asia-Pacific (APAC), where it will progress at a CAGR of 41.1%. The reasons for this would be increasing life expectancy and patient base, growing awareness about the advanced applications of such devices and technologies, restructuring of healthcare policies in several countries, and increasing IT investments in the field.


Thus, it is clear that the growing geriatric population will be one of the major factors in the domain prosperity across the world.

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Smart E-Drive Market: Highlights on Future Development

The global smart e-drive market is expected to witness significant growth in the coming years, owing to the implication of stringent governments’ norms and regulations for emissions on the automotive industry across the globe. Additionally, the growing demand for hybrid and electric vehicles, with an objective to reduce carbon emission is another reason, which is anticipated to propel the market growth. Furthermore, advancement of truck platooning and integrated mobility solutions, which are probable to use the hybrid and electric automobiles for ideal functioning, are expected to boost the demand for smart e-drive systems.

Among all categories based on drive type, all-wheel drive (AWD) is the leading category and is anticipated to continue dominating this segment during the forecast period, owing to its advantages, which include benefits of both front-wheel drive (FWD) and rear-wheel drive (RWD). Additionally, growing demand for better traction, acceleration, and towing capabilities in vehicles has fueled the demand for sport-utility vehicles (SUVs) and multi-utility vehicles (MUVs) equipped with AWD drivetrain, globally. Furthermore, rising demand for electric and hybrid SUVs and MUVs, the AWD category is expected to dominate the smart e-drive market in the coming years.

Smart E-Drive Market

Geographically, the market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The European region is expected to dominate the smart e-drive market during the forecast period. The reasons being the strict environmental norms and regulations by the European Union Commission, and thus increasing the demand for hybrid and electric vehicles, resulting in the growth of the market in the region. Also, the presence of established original equipment manufacturers (OEMs) such as Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, and others, and rapid expansion of charging infrastructure are acting as the driving forces for the market.

Key growth drivers in the global smart e-drive market are strict norms and regulations by governments across the globe, cost benefits in terms of declining battery price, and improved vehicle efficiency and fuel economy. The adoption of greener energy pertaining to the current environmental scenario also contributes to drive the growth of the market. The demand for electric and hybrid vehicles is increasing, which is primarily fueled by stringent governments’ rules and regulations, subsidies, tax refunds, and grants. In 2017, more than one million electric vehicles were sold, increased the total number of electric and plug-in hybrid cars on roads to more than 3 million, which grew by 54% as compared to the sales in 2016. The growing sales of environment-friendly vehicles will boost the market for smart e-drive systems during the forecast period.

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There are few established players operating in the smart e-drive market. For a new entrant, it is difficult to make its place in the industry, owing to the domination of the established players and high research and development cost. Some of the key players in the market are Magna International Inc., Robert Bosch GmbH, GKN plc, Hitachi Ltd., Hyundai Mobis Co. Ltd., Continental AG, Siemens AG, Schaeffler AG, ZF Friedrichshafen AG, MAHLE GmbH, BorgWarner Inc., Infineon Technologies AG, and AISIN SEIKI Co. Ltd.

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India Electric Rickshaw Charger Market Competition Analysis and Growth Forecast to 2024

Large-scale adoption of electric rickshaws for public transportation across the country is offering ample growth opportunities to the players operating in the Indian electric rickshaw charger market. These low-cost electric rickshaws are a cost-effective and easy mode of transportation for the price-sensitive Indian consumers, and this factor continues to drive the adoption of these rickshaws, further supporting the growth of the market in the country.

On the basis of type, the Indian electric rickshaw charger market is categorized into portable charger and fixed charger. Between the two, portable charger is expected to witness faster growth in demand in the forecast period 2019–2024. Portable chargers work as an alternative to charging stations and allow anytime, anywhere charging, thus gaining popularity owing to the factor of convenience associated with them.

Delhi is the largest market for electric rickshaw chargers in India, and this can be mainly ascribed to the early and wide adoption of electric rickshaws in the city. Delhi ranks among the worst cities in terms of heat-trapping and toxic emissions. Moreover, high population and vehicle usage has made Delhi one of the largest contributors of emissions in India. Since electric rickshaws are an eco-friendly and convenient mode of transport, they have increasingly been adopted in the capital in recent years, which, in turn, has contributed to the demand for electric rickshaw chargers.

However, Uttar Pradesh is expected to hold the largest share in the Indian electric rickshaw charger market during the forecast period, mainly due to the increasing demand for electric rickshaws from the rural–urban fringes, Tier-1 cities, and Tier-2 cities in the state.

One of the major drivers for the Indian electric rickshaw charger market is the growing number of electric rickshaws on Indian roads. Electric rickshaws have gained traction in India in recent times, on account of their lower cost of operation than conventional auto rickshaws and additional advantages over cycle rickshaws. In addition, the Indian government has taken several initiatives in the form of incentives to encourage the adoption of these vehicles. The electric rickshaw market witnessed triple-digit growth in the historical period, mainly ascribed to environmental policies and incentive plans executed by the government, which resulted in the high adoption of these rickshaws in the country.

Furthermore, major automotive players such as Mahindra & Mahindra Limited and Hero Electric Vehicles Pvt. Ltd. have entered the electric rickshaw market in recent years and more such players are expected to enter the market in the coming years, owing to the high growth potential in the market. This, subsequently, is expected to contribute to the growth in demand for chargers, further supporting the Indian electric rickshaw charger market.

Some of the major players operating in the Indian electric rickshaw charger market are Axiom EV Products Private Limited, Krishna Enterprises, Fujiyama Power Systems Private Limited, Rayon Engineers, Mac Auto India, Lzen Electronics India, and KLB Komaki Private Limited.

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Automotive Wrap Films Market Witnessing Robust Growth - Automotive Trend

The global automotive wrap films market is projected to grow at a significant rate during the forecast period (2020–2030). The market growth is primarily driven by the growing need to provide protection to passengers from harmful solar radiation and up surging demand for mobile advertising. Furthermore, these wrap films also protect vehicle’s interior from deteriorating and fading, and prevent the glass from breaking during accident. Such factors boost the growth of the market.
Based on film type, the automotive wrap films market is categorized into window films, wrap films, and paint protection films. Among these, window films dominated the market during the historical period (2014–2019). These films are used in vehicle as they block up to 80–85% of solar radiation from entering the vehicle, resulting in temperature reduction inside the vehicle. Furthermore, these films also improve the security and safety of an automobile.

In terms of vehicle type, the automotive wrap films market is divided into passenger vehicle and commercial vehicle. Of these, the demand for automotive wrap films in commercial vehicle category is expected to grow significantly during the forecast period, owing to high replacement rate of these films in commercial vehicles, due to their considerable surface areas. Furthermore, due to their ability to reach a wider audience, light commercial vehicles and buses are largely preferred by advertising companies for product promotions. This will further boost the growth of the automotive wrap films industry.

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When segmented on the basis of sales channel, the automotive wrap films market is classified into original equipment manufacturer (OEM) and aftermarket. Between the two, the aftermarket category is projected to grow at a faster pace during 2020–2030. The increasing demand for custom solutions and availability of several wrap film producers that offer reliable services are some major factors propelling the growth of the market in this category.

Geographically, Asia-Pacific (APAC) holds a significant share in the automotive wrap films market. This is due to the fact that APAC is the largest market for passenger cars and commercial vehicles across the globe. Furthermore, the regional market is projected to grow substantially during the forecast period. Rising living standards, increasing demand for vehicle customization, and existence of major vehicle manufacturers are the factors driving the growth of the wrap films industry in the region.

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The growing demand for personalized cars and change in lifestyle of customers are some factors that are expected to have a positive impact on the growth of the automotive wrap films market. Furthermore, increasing demand for wrap advertising, owing to cost effectiveness, also accounts for the rapid growth of the market. Commercial vehicles, such as large vans and buses, which are used for tourism, also use wrap films for advertising and promotions. These films protect original paint from wearing and chipping and also enhance the look of vehicles. The requirement for protecting the original paint of automobiles for an extended time period is further spurring the demand for these films.

Major players operating in the global automotive wrap films market include Eastman Chemical Company, 3M Company, Avery Dennison Corporation, LINTEC Corporation, Saint-Gobain Performance Plastics Corporation, Arlon Graphics LLC, and Hexis UK Ltd.

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How is Growth in Global Air Conditioner and Refrigerator Markets Driving Insulation Market?

The global air conditioner and refrigerator markets are witnessing significant growth, majorly because of the increasing demand for these systems from countries such as China and India. Moreover, due to global warming, the need for energy efficient heating, ventilation, and conditioning (HVAC) equipment is also surging. The energy efficiency of HVAC systems is determined by the amount of energy that is being consumed for the desired level of heating or cooling; hence the lesser the energy consumed, the higher the efficiency of the appliance. In order to reduce the consumption of energy by enhancing the efficiency of insulation materials utilized in heating and cooling systems, various technological advancements are being undertaken. 

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The rising requirement for insulating materials for residential and industrial applications is a key driving factor of the insulation market. Over the past few years, the U.S. has registered a significant growth in the demand for housing, which has resulted in the increased residential construction activities. A similar situation is being witnessed in European countries, which are recovering from the negative economic growth. All these residential projects are creating a high demand for insulating materials in order to save energy costs. Moreover, insulation products are utilized in industries for thermal and acoustic insulation. Most of the industries and manufacturing units today need insulation for cost-effective operations. 

The process of insulation refers to the prevention of flow of sound, heat, or electricity, either from or into a building, by making use of non-conducting material. As per a study conducted by P&S Intelligence, in 2017, the global insulation market reached a value of $52,296.0 million and is predicted to grow at an 8.6% CAGR during the forecast period (2018–2025). The primary products utilized for providing insulation are mineral wool, expanded polystyrene (EPS), glass wool, and extruded polystyrene (XPS). Some other insulating products include calcium silicate, cellular glass, melamine foam, polyethylene, aerogel, calcium-magnesium-silicate fibers, perlite, expanded rubber, and spray foam. 

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Among all the insulation products, the largest demand was created for glass wool during 2014–2017. Glass wool is a thermal insulator comprising knotted and flexible glass fibers that traps the air inside, resulting in low density. The insulator is made up of sand and has acoustic and thermal insulation properties, in addition to low weight and high tensile strength. During the forecast period, however, the largest demand is projected to be created for EPS. This is ascribed to its extensive usage in several thermal and acoustic applications due to its various properties including fire resistance, durability, light weight, and ease of recycling. 

The different application areas of insulators are non-residential construction, residential construction, and HVAC, industrial, and original equipment manufacturers (OEM). Out of these, the largest demand for insulating materials was created for residential construction applications during 2014–2017. This is attributed to the large-scale utilization of various insulating products in construction activities, which are increasing at a high rate due to the surging population and rising income of people around the globe. The fastest growth in demand for insulators is expected to be created for the industrial, HVAC, and OEM application. 

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European Fully Autonomous Car Market Projected to Reach 4.0 Million Units in Near Future

In the European region, about 230 people each day and approximately 83,000 people every year die due to road accidents, according to the World Health Organization. While vehicles have made life immensely easy for everyone, road traffic, deaths, and serious injuries caused because of road accidents and crashes are the ugly side of road transportation. Road accidents can be mainly attributed to human error; drivers’ failure to pay attention, keeping unsafe distance from the vehicle moving in front, and inappropriate speed are just some errors which lead to road fatalities. Because of these reasons, there is a growing need for a safer and more-efficient driving option. Autonomous cars are expected to become the go-to option for people, who want to prioritize safe road transportation, in the coming years.

Such cars can be semi-autonomous or fully autonomous: semi-autonomous cars are not self-driving but may be able to deaccelerate, accelerate, or stop without human intervention, depending on their level of automation. A fully autonomous car, however, does not require a human to drive them safely, as these vehicles have software and sensors to navigate, control, and drive themselves. In the coming years, the European autonomous car market for fully autonomous models is predicted to reach 4.0 million units, advancing with a CAGR of 37.4%, as per P&S Intelligence. The demand for commercial autonomous cars is expected to be more than that for personal ones in the near future. This would be due to the rising deployment of fully autonomous cars for commercial purposes. The car ownership scenario is also changing in the European region because of the increasing availability of shared autonomous cars.

The use of autonomous cars as mobility-as-a-service (MaaS) is projected to result in their increasing demand. Risk factors, such as those related to car crashes (as mentioned above), are quite high in traditional car sharing services. Due to this, service providers are expected to focus on the autonomous technology, and large fleet operators are predicted to be among the early adopters of fully autonomous cars. Furthermore, since the operational cost of conventional cars is higher, ride sharing services on autonomous cars will be much more cost-effective for service providers. Because of all these advantages, different car manufacturers and technology companies are increasing their focus on the development of autonomous taxis or robo-taxis. Take for instance Navya, a French start-up, which launched its first autonomous taxi in 2018. Similarly, Waymo and Alphabet have joined forces in order to introduce robo-taxi services in Europe in the near future.  

The integration of artificial intelligence (AI) in the automotive industry has made possible the development of level 4 and 5 autonomous cars. The development of several technologies, such as virtual assistance, driver monitoring, natural language interface, gesture recognition, speech recognition, and eye tracking, has been due to the penetration of AI. In addition to this, AI has also helped in the development of the advanced driver-assistance system (ADAS), which includes driver condition evaluation systems, radar-based detection units, camera-based machine vision systems, and sensor fusion engine control units. Thus, because of the integration of AI, the demand for autonomous cars in the European region is predicted to increase significantly in the coming years.

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U.S. Coding and Marking Systems Market to Register 7.6% CAGR in Near Future

The automobile demand in the U.S. is rising due to the availability of easy credit, decrease in gas price, and growing rate of employment. For example, as per a report published in the Los Angeles Times, in 2016, 17.5 million vehicles were sold in the country, which was higher by 0.08 million units than the 2015 sales volume. The expanding automotive industry also makes extensive use of coding and marking systems for ensuring identification and creating protection against the threat of counterfeits, which is why the demand for these systems is predicted to rise significantly. Coding and marking systems basically provide product-related details, including price, manufacturing and expiry dates, and batch number, on the packaging to the end users. Components can be tracked and identified through the various phases of the production process with the help of these systems.

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As per a research conducted by P&S Intelligence, in 2017, the U.S. coding and marking systems market generated a revenue of $558.4 million and is expected to attain a value of $860.6 million, advancing at a 7.6% CAGR, in the coming years. Various technologies used by coding and marking systems are drop-on-demand, laser coding & marking, thermal transfer overprinting, print & apply labelers, continuous inkjet, and thermal inkjet. Other technologies include hot-melt inkjet and valve jet. Among all these, the largest demand was created for the continuous inkjet technology during the time period 2013–2017. Continuous inkjet printers are best for coding and marking flat and curved surfaces, such as packages, printing on bottles, automotive and aerospace components, and others. These printers have a low cost and are easy to operate, which is why they are used by almost all industries.

Several industries that make use of coding and marking systems are shifting from conventional printing to digital printing solutions. This is because, by utilizing digital printing solutions, such as continuous inkjet, millions of characters can be printed using just a liter if ink. In addition to this, where on one hand, traditional printing solutions generate more inventory waste and are time consuming, the ink utilized in digital solutions dries quickly, which makes the whole process efficient, quick, and cost-effective. Due to these advantages of digital printing solutions over conventional printing methods, manufacturers are increasingly focusing on the development and marketing of digital coding and marking solutions.

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Moreover, since the attention toward product anti-counterfeiting and traceability is growing, the requirement for coding and marking systems is also expected to increase as they have the ability to provide a new level of supply chain tracking and visibility. Through the use of smart coding, manufacturers can protect their brand and products in a better way and can further communicate the brand message in a more attractive manner. Moreover, the technology enables manufacturers to enforce and check anti-counterfeit and diversion activities throughout the supply chain. For instance, a permanent batch code on the product is printed by making use of smart coding, where the basic batch code is enhanced by altering specific characters in the code, thereby making it difficult for unauthorized parties to copy the code.

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