EV Battery - An Emerging Market

The policy makers of various countries are focusing on public transit infrastructure with no or low pollution to tackle the air pollutant emissions, mainly in the densely populated cities and megacities. The air pollution caused due to fossil-fuel driven vehicle has become a major global concern. This in turn, has enforced the policy makers to look for an alternative, such as low emission vehicles. The natural gas based public transit is still the most dominant alternative of fossil-fuel based public transit; however, the electric vehicle are gaining popularity, due their zero carbon di-oxide emission, this in turn fuelling the growth of hybrid and electric vehicle battery market, especially in developed countries.

Under its Twelfth Five Year Plan (2011–2015), China invested heavily to increase the new energy vehicles (vehicles powered by renewable energy sources, such as fuel-cell technology and battery). At the end of 2015, China is expected to accommodate around 500,000 hybrid electric and pure-electric vehicles. The Chinese electric vehicle market is expected to grow significantly during the forecast period, owing to the surging urbanization and development of many newly built advanced public transit systems in the smart cities of China. This is expected to lay significant market opportunity for hybrid and electric vehicle battery market in the region However, the premium price of electric vehicle is the major hindrance for their large scale adoption in public transit infrastructure, especially within the developing countries.

EV Battery Market 

Majority of European countries import hybrid and electric vehicle battery from China, Japan, and South Korea. Despite slower economic growth in Europe, countries such as Norway, France and Sweden are expected to witness growth in the hybrid and electric vehicle market during the forecast period. The increasing penetration of hybrid and electric vehicle is expected to drive the growth of the hybrid and electric vehicle battery market during the forecast period.

Battery is a major factor in determining the cost and range of the battery driven hybrid and electric vehicle. Due to the high cost of the batteries, the overall cost of the vehicle is also high, and it acts as a hindrance for hybrid and electric vehicle battery market, but only the initial purchase cost is high, as the vehicle runs on electricity and the price of electricity to run an electric vehicle is a small fraction of the cost of liquid fuel needed to produce an equivalent amount of energy; therefore, the operating cost is cheaper. The range up to which an electric vehicle can run on a single charge is also determined by the battery’s capability. A battery module consists of battery cells, sensors, battery management system (BMS), relays or contactors, etc. Each battery cell consists of electrodes (cathode and anode), separators, electrolyte and casing. Lithium ion battery is the most commonly used rechargeable battery for hybrid and electric vehicle. Asia-Pacific is the largest manufacturer of Li-ion batteries followed by North America and Europe.

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The major players operating in the global hybrid and electric vehicle battery market include Panasonic Corporation, Automotive Energy Supply Corporation, BYD Company Limited, Lithium Energy and Power GmbH & Co. KG, LG Chem., Tianneng Power International Co. Ltd, Hitachi Vehicle Energy Ltd., Shenzhen Bak Battery Co. Ltd., and Zhejiang Tianneng Energy Technology Co. Ltd.

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Anatomic Pathology Market Displaying Steady Growth across the World

Across the world, the prevalence of chronic diseases is increasing, which is leading to the growth of the healthcare sector. The most common chronic diseases are cancer, chronic obstructive pulmonary disease (COPD), certain cardiovascular diseases (CVD), and diabetes. As per the World Health organization, 9.6 million died from cancer, alone, in 2018. With the growing incidence of such diseases, the need for effective, and preferably early, diagnosis is rising. This is increasing the demand for anatomic pathology techniques that help identify medical issues by examining tissues and fluid samples taken from the body.

Valuing $17.4 billion in 2018, the anatomic pathology market is predicted to grow to $24.3 billion in 2024, due to an increasing number of people falling prey to chronic diseases and surging number of medical tests being performed. Histopathology, surgical pathology, and cytopathology are the three primary approaches to diagnosing a disease via anatomic pathological tests. Among these, histopathological tests were the most widely performed during 2014–2018, and the same scenario is expected for 2019–2024. Such tests involve looking at a tissue sample under a microscope, for the identification of myocardial infarction (heart attack), cancer, and other tissue-related diseases.

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Such diseases are more prevalent in the elderly, compared to people in the younger age groups. The United Nations reports that by 2050, the geriatric population will increase three times, from 2017. At this rate, the number of such people is predicted to touch 425 million by 2050. Thus, the increasing geriatric population, at risk to life-threatening diseases, would lead to increased medical testing, thereby driving the sale of instruments and consumables used in anatomic pathological testing across the world.

Across the world, the anatomic pathology market growth in China would be the fastest, primarily due to the rise in the geriatric population. Across Asia-Pacific (APAC), anatomic pathological tests would rise in number because of investments in diagnostic research by government and non-government organizations, popularity of personalized medicine, and growing patient pool with chronic ailments. Further, several European and North American firms, supplying test instruments and consumables, are increasing their presence in the region.

Therefore, with the growing focus on early and effective disease diagnosis and rising number of chronic disease patients, the anatomic pathology niche is predicted to keep prospering.

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Artificial Intelligence (AI) in Cyber Security Market to Observe $17.0 Billion Growth by 2023

Ever since data sharing between two computing devices became possible, cyber-attacks have been leading to huge financial losses all across the world. There are several types of cyber-crimes, such as data and identity theft, email and password hacking, phishing, denial of service (DoS), distributed denial of service (DDoS), and fraudulent transactions. With the increasing awareness of organizations on the issue, they are spending more than before on cyber security. But criminals are always one step ahead, as even before some new data or network security software is launched, they find out new ways to get into the system.

Thus, with cyber criminals becoming increasingly smart and the rate of internet-based attacks rising, the artificial intelligence in cyber security market is expected to grow too, from $1.2 billion in 2016 to $18.2 billion by 2023, at a CAGR of 36.0% during 2017–2023 (forecast period). While large enterprises are already adopting such solutions to fend of attackers, many mid-sized and other small businesses haven’t yet followed suit, due to lower budgets. This is why internet-based attacks are being increasingly carried out on such companies, which is expected to prompt many of these to use AI to protect their information technology (IT) infrastructure, software, applications, and critical information.

In the same vein, cloud computing is also making inroads into cyber security, as it is more affordable for companies, especially small and medium enterprises. Cloud-based protection for the IT infrastructure improves data collection and collaboration and threat modeling, blocks threats, and reduces the time between threat detection and neutralization. Additionally, it also allows businesses to do away with the need to hire support personnel and helps better manage their IT data, computing devices, servers, networks, and applications.

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Historically, North America has been the largest user of such solutions, due to the large number of corporate houses with high-worth assets and advanced IT infrastructure. During the forecast period, Asia-Pacific (APAC) would adopt artificial intelligence-based IT protection, as the number of internet-based crimes is steadily rising in the region, and they end up costing a lot to companies, and ultimately, national economies. In APAC, the AI in cyber security market growth in Indonesia would be the fastest, as a result of the increasing number of internet users and botnet attacks.

Thus, with business across the globe feeling the pinch of cyber-attacks, they would rapidly deploy AI solutions to protect their IT assets.

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HR Analytics Market to Register 15.6% CAGR in Near Future

Human resource management (HR) is used as an umbrella term for describing the management of employees in an organization. The term ‘human resources’ was coined in the 1960s for the very first time. Human resource management aims at increasing the effectiveness of a business or an organization. The entire spectrum of work, such as creating, cultivating, and managing the employer–employee relationship comes under human resources. Businesses can be small, medium, or large, and depending on the size, appropriate work force is required to carry out activities smoothly. For that, the need for workforce optimization is being felt as it helps in making operations more efficient.

HR analytics is helping industries, such as retail, banking, financial services, and insurance (BFSI), government, manufacturing, energy & utilities, entertainment, oil & gas, hospitality, automotive, logistics, information technology & telecom, education, and healthcare organize their workflow. The BFSI sector faces a crisis in recruiting new talent and finding a replacement for people nearing the age of retirement or people who leave. Further, as the job profile in this sector is pretty rigid, the BFSI sector doesn’t come across as the ideal choice of workplace for many young professionals.

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HR analytics has simplified the hiring process for HR managers. Previously, HR managers would take decisions for recruitment based on their ‘gut feeling’. This software is proving to be of great help for the HRs as it can analyze the skillset and expertise of a prospective hire and provide valuable insights. It also helps in removing biases and helps companies take an impartial decision. This, in turn, is benefitting companies and businesses in recruiting the right people for the job, which would directly give them an edge over their competitors and impact their performance. The demand for efficient hiring is rising worldwide, as it helps businesses be more agile and proactive.

Nowadays, work is being done in the direction of making the HR analytics software even smarter by integrating it with machine learning and AI. Technical advancements are leading to the high demand for AI-enabled devices and products. AI can help HRs forecast employee flight risk, unearth engagement issues, identify high-potential employees, recommend learning courses, study the impact of recruitment decision, and more, which would further help organizations improve their workforce efficiency in the coming time.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. 

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Automotive Power Window System Market Unraveling Challenges and Opportunities

Automotive Anti-Pinch Power Window System Market is projected to reach $3,611.2 million by 2023, growing at a CAGR of 12.0% during 2017 – 2023.

Automotive Power Window System

As per the research, the global automotive anti-pinch power window system market is expected to grow from $1,690.2 million in 2016 to $3,611.2 million by 2023. The increase in vehicle production and growing demand for luxury vehicles are driving the market for automotive anti-pinch power window system market. Increasing awareness regarding automotive safety is also a factor contributing to the expansion of the automotive anti-pinch power window system market. Major automakers including Audi, BMW, General Motors, Honda, Hyundai, Mercedes-Benz, Ford Motors, and Tata Motors, are some of the well-known brands that offer anti-pinch power window system as standard or optional feature in some of their cars. For instance, Hyundai Santa Fe comes with anti-pinch feature as well as auto-down feature in all the front power windows. Tata Motors is offering anti-pinch feature in its Zest model. The recently launched Volkswagen Ameo also has anti-pinch power window feature as its standard offering.

Insights on market segments
Based on the type, automatic windows accounted for the larger revenue in automotive power window system market, with over 80% share in 2016. The major factor driving of its demand in automatic windows are rise in vehicle electrification and growing awareness toward advanced safety features. Passenger cars were the largest user of anti-pinch power window systems due to rapidly growing automotive industry, especially in emerging countries including India, China, Brazil and South Africa. Rise in vehicle export is also expected to drive the automotive anti-pinch system market during the forecast period. For instance, in the first eight months of FY17, Indian vehicle exports have grown by 16% to 499,037 units. The export volumes crossed 700,000 units and the major players driving the export market were Ford, Hyundai, Maruti Suzuki, and Volkswagen. Latin America, Africa and Europe were top export destinations for India-made cars in 2016.

Europe and North America contributed ~70% to the automotive anti-pinch power window system market in 2016

Europe and North America collectively accounted for nearly 70% of the global automotive anti-pinch power window system market in 2016. The major factors contributing to the growth of the market in these two regions are increase in vehicle production and export, stringent safety norms toward vehicle safety, huge investments and technological advancements. The European car sales increased by over 6% in 2016. The vehicle registration in Europe was over 15 million units in the same year and Germany’s full-year sales were up by 4.5%, while French sales increased by 5.1%. In the Southern European markets of Italy and Spain, registrations rose by 16% and 11%, respectively. In North America, the U.S. and Canada remained promising and achieved high sales figures in 2016.  The U.S. new vehicle sales recorded over 17.5 million units in 2016, which was higher than the sales figures recorded in 2015.

Growing demand of passenger cars across the globe
The major factor driving the growth of the automotive anti-pinch power window system market is rise in the demand of passenger cars worldwide. The mid- priced passenger cars accounted for more than 30% of global sales in 2016, and the market size is expected to increase during the forecast period due to rise in per capita income and economic developments. More than 60% of passenger cars sales come from emerging economies, where sales are set to grow by 5% to 6% by 2020. India and China have exhibited a tremendous growth in vehicle production in the past five years and the trend is likely to continue during the forecast period. Vehicles sale in China grew by 15% in 2016, and over the period of next five years the auto industry in the country is expected to grow at 6% to 7% annually, bringing the total production and sales of vehicles to over 30 million vehicles by 2020. In the rest of the world, the automotive industry has grown significantly in Brazil, Chile, Iran, Australia, and the Middle-East, and major automakers are planning to set up their manufacturing plants in these countries to meet the growing demand.

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The market is dominated by organized players
The automotive anti-pinch power window system market is majorly dominated by Tier 1 players having presence across the globe. Some of the major players involved are Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Magna International Inc., Brose Fahrzeugteile GmbH & Co. and NXP Semiconductors. Product launches and strategic partnerships have been the major recent developments in the automotive anti-pinch power window system market.

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India Gasoline Scooter and Motorcycle Market - Unraveling Challenges and Opportunities

The rising income levels in Tier 2 and Tier 3 Indian cities is resulting in increasing sale of scooters and motorcycles, which run on gasoline. Valued at $22.0 billion in 2017 by P&S Intelligence, the Indian gasoline scooter and motorcycle market is set to grow at a CAGR of 8.8% during the forecast period 2018–2025. It is being estimated that by 2025, the market size will increase to $42.4 billion.
The major growth factor of the domain is rising income levels, which has given people more power to buy private vehicles. Among these, gasoline-powered two wheelers are preferred due to easy financing solutions, heavy discounts, fuel-efficient models. Further, many financially-stable people are purchasing a two-wheeler for short commute, despite owing a car, as the former are easier to drive and park on the narrow and congested Indian streets. This is how two-wheelers are becoming the second, and often the preferred, transportation mode, taking the Indian gasoline scooter and motorcycle market forward.

In addition, scooters and motorcycles are witnessing an increased demand from Tier 2 and Tier 3 cities. Such cities are witnessing population growth, owing to the industrial and economic developments here. Land, to set up manufacturing plants, is available at low rates in these cities. This is leading to economic development, which is, in turn, attracting the workforce from rural and semi-rural areas. Therefore, the financial prosperity of people after getting employment in such industries is another factor for the domain’s growth.

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On segmenting by product, the gasoline scooter and motorcycle market in India is categorized simply into motorcycles and scooters. In 2017, motorcycles dominated the market with over 65.0% revenue share, due to increasing motorcycle sales, especially in rural and semi-rural regions that are on the verge of urbanization. Road connectivity to such places has increased significantly, and loans are also available at low interest rates, leading to increasing two-wheeler sales. The fact that there are 108 motorcycles per 1,000 people in the country cements this finding. Motorcycles are cheap to purchase and operate, which is why these are preferred in urban as well as rural areas, with considerably less scooter penetration.

Similarly, the gasoline scooter and motorcycle market in India can also be segmented by engine capacity, wherein <100cc, 100-125cc, 125-150cc, 150-180cc, 180-250cc, 250-500cc, and >500cc are the several categories. Among these, two wheelers with 100-125cc engine capacity registered the highest sales volume in 2017 (over 70.0%), as these provide the perfect balance between power and price. Further, a shift has been seen in people’s preference from low-powered two wheelers to higher-powered ones.

Along with a growing inclination toward higher-powered two wheelers, a change in preference from low-cost to premium vehicles is also being observed in the Indian gasoline scooter and motorcycle market. With rising income levels, people, especially the youth, are switching over to premium two-wheeler brands, such as Harley-Davidson and Royal Enfield, which produce high-powered models. In a way, the increasing sale of premium two-wheelers is also driving the market growth.

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Hence, it is clear that the improving financial condition of people in rural and semi-rural areas and rapid industrialization in Tier 2 and Tier 3 cities is expected to drive the domain forward.

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Need to Curb IT spending Driving Low-Code Development Platform Market

The key factors driving the growth of the low-codedevelopment platform market are the rapid digitization, less requirement for IT professionals associated with the technology, and regulatory uncertainty. The market revenue, which was $5.6 billion in 2018, is projected to increase to $52.3 billion by 2024, at a CAGR of 45.2% during 2019–2024 (forecast period). With the use of the low-code development platform, developers can combine several pre-programed application components to create a new app, thus staying less reliant on IT professionals.

When segmented by enterprise size, the categories of the low-code development platform market are small and medium enterprises (SME) and large enterprises. Of these, the market was led by large enterprises during the historical period (2014–2018), as such organizations have relatively higher budget for procuring such advanced technology. The SME category would grow faster during the forecast period, as several of these would adopt cost-effective cloud-based solutions, to increase their app development rate and decrease their operational costs.

The fact that this technology significantly lessens the dependence on IT professionals is the primary reason for the low-code development platform market growth. Various departments within a firm need applications for smooth operations, but the delay in receiving the apps hampers productivity. To deal with this, companies hire IT professionals, who leverage platform as a service (PaaS) and programming languages, such as .NET and Java. As this incurs heavy expenses, companies are adopting the low-code development platform, as it allows even non-professionals to create apps.

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The low-code development platform market is also being positively influenced by uncertainty in the regulatory landscape. In the aftermath of crippling cyber-attacks, such as the data leak of around 87 million Facebook users in 2018, governments across the globe implemented strict regulations regarding the protection of customers’ personal data. Therefore, while developing business applications, companies need to consider regulatory compliance. With the use of the low-code development platform, apps that comply with data security regulations can be easily created.

Thus, with the rising smartphone and internet usage, the demand for cost-effective app creation would continue surging.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

To More Information Visit : P&S Intelligence

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