ADAS Sensor Market Growth and Demand Forecast to 2030

From $11.5 billion in 2019, the advanced driver assistance system (ADAS) sensor market is predicted to grow to $40.8 billion in 2030, at an 11.7% CAGR between 2020 and 2030 (forecast period). Amon all sensor types, radar sensors dominated the market during 2014–2019, in value terms. During the forecast period, the light detection and ranging (LiDAR) category would observe the fastest progress, on account of the increasing sale of fully autonomous vehicles.

A key trend in the ADAS sensor market is the increasing research and development (R&D) activities in the automotive sector, which have made possible the production of better autonomous vehicles. For instance, the U.S. government sanctioned $100 million for autonomous vehicle R&D, in 2018, and supplemented it with another funding, of $60 million, the next year, for a project to test the feasibility and safety of such automobiles.

The most prominent growth driver for the ADAS sensor market is the various government regulations being introduced that encourage the manufacturing and sale of autonomous cars. Every year, an increasing number of such regulations are being passed and policies introduced. While 33 U.S. states introduced such bills in 2017, an additional 15 tabled a total of 18 bills in 2018. Similarly, the Spanish Directorate General of Traffic partnered with Mobileye NV to create infrastructure and regulatory policies for the usage of autonomous cars in the country, in 2017.

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During the historical period, Europe was the largest ADAS sensor market. Asia-Pacific (APAC) would grow the fastest during the forecast period, with China witnessing the highest CAGR in the region. The robust growth of the Chinese market is attributed to its heavy automobile production volume and constant evolution in the automotive technology, which is leading to the development of autonomous vehicles.

To stay relevant and augment their revenue, the major ADAS sensor market players are looking at product launches, partnerships and collaborations, mergers and acquisitions, and several other measures. For instance, in September 2019, Omnivision Technologies Inc. and Arm Ltd. announced a partnership, under which the former’s OX03A1Y image sensor is being integrated into the latter’s Mal-C71 image signal processor (ISP), so that a dual-mode camera module for automobiles can be created.

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How is Expanding E-Commerce Industry Driving Autonomous Mobile Robots Market?

The e-commerce industry is expanding due to the increasing internet penetration and surging usage of smartphones, which is why the trend of online shopping among customers has emerged. It has been observed that the global e-commerce sales rose by approximately 22% in 2018, as compared to the previous year. 

This rising e-commerce sales, primarily in India and China, has resulted in the growing requirement for enhanced efficiency in e-commerce fulfillment centers and warehouses. Attributed to these factors, the demand for autonomous mobile robots (AMRs) in the e-commerce industry is rising for improving productivity and reducing labor cost.

AMRs are robots which utilize sensors and navigation technology to move around the environment without being controlled directly by operators. According to a report by P&S Intelligence, in 2019, the global autonomousmobile robots market reached a value of $29.3 billion and is expected to generate $220.6 billion in 2030, advancing at a 18.3% CAGR during the forecast period (2020–2030). 

Service, software, and robotic systems are offered by this technology. Out of these, AMR services were the most in demand during 2014–2019 and the situation is projected to be the same in the coming years well. The service category includes the revenue that is generated from the sale of aftermarket components, consulting services, and deployment/integration of AMRs.

There are various sectors which make use of AMRs, namely hospitality, healthcare, manufacturing, retail, logistics, residential, aerospace & defense, mining & mineral, and agriculture. Other sectors which make use of AMRs are construction, IT & telecom, government, utilities, banking, financial services, & insurance, oil & gas, media & entertainment, automotive, and education. 

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Chinese Vacuum Pump Market a $1.9 Billion Investment Opportunity by 2024

Momentum-transfer, positive-displacement, and regenerative are the three major types of such devices. Positive-displacement vacuum pumps further come in the diaphragm, rotary-vane, piston-pump, liquid-ring, and dry-screw types.

Among these, liquid-ring-type positive-displacement pumps saw the highest usage during 2014–2018, as these can be used for different gases, by altering the discharge temperature, thereby offering more flexibility. The major applications of such devices are vacuum condensation, vacuum distillation, ash and air handling, moisture extraction, and mineral beneficiation, in an array of industries, including oil & gas, petrochemical, chemical, seawater deaeration, distillery, fertilizer, pharmaceutical, sugar, paper, railways, power, food & beverage, textile, and mineral.

A key vacuum pump market in China opportunity is the development of smart vacuum pumps. With the use of the frequency inverter technology, they work with a range of voltages and frequencies, to offer optimal and consistent performance.

Among these, the use of vacuum pumps in the chemical & pharmaceutical sectors is significant. Here, such equipment is primarily used for distillation, drying, filtration, solvent recovery, crystallization, and gas boosting, apart from the degassing of oils, glues, polymers, and water.

In 2018, China was the largest producer of chemicals and also their largest user, holding a 37.0% share of the global chemical sales. The major reasons for the growth of the chemical sector in the country are the easy availability of labor and raw materials at low costs, government subsidies, and relaxed environmental norms.

Similarly, the national pharmaceutical sector is prospering, on account of the rising investments in research and development and setting up of production plants by global industry giants.

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With the growing burden of several diseases, which is leading to the expansion of the overall healthcare niche, the demand for pharmaceutical products is increasing. This is why of all the application areas of vacuum pumps — semiconductor & electronics, chemical & pharmaceutical, mining & general, food & beverages, oil & gas, and energy & power — chemical & pharmaceutical was their largest user during the historical period.

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India Electric Rickshaw Motor and Controller Market Share, Development, Growth, and Demand Forecast till 2024

The number of electric rickshaws on Indian roads is increasing rapidly, which is why the electric rickshaw market in India advanced at a rate of 59.1% during 2014–2018. This is attributed to the supportive government incentives, low operating cost of electric rickshaws as compared to auto rickshaws, and other advantages it provides over cycle rickshaw. The number of electric rickshaws on the roads increased to approximately 7.5 lakh, which was an increment of about 6.2 lakh units from 2014, and this number is further predicted to rise in the coming years. Ascribed to this, the demand for electric rickshaw motor and controller is rising in the country.

Electric motor converts electrical energy into mechanical energy and a motor controller regulates the working of an electric motor and acts as an intermediary between the battery and the motor. According to a report by P&S Intelligence, by 2024, the Indian electric rickshaw motor market is predicted to attain a value of $59.8 million, registering a 15.1% CAGR during the forecast period (2019–2024), and the Indian electric rickshaw controller market is expected to generate a revenue of $26.2 million by 2024, witnessing a 14.4% CAGR during the forecast period. Original equipment manufacturers and aftermarket are the two end users of electric rickshaw motors and controllers.  

The increase in the average age of electric rickshaws is a major factor which is contributing to the rising demand for electric rickshaw motor and controller. The market of electric rickshaws has been consolidated since the rollout of goods and service tax, because of which issues about customer services have resulted in a sense of distrust among customers toward unorganized players. Attributed to this, consumers have become inclined toward more reliable products offered by established multi national companies and Indian manufacturers. The electric rickshaws offered by these organized manufacturers have an average age of about 3.6 years.

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The research offers the size of the India electric rickshaw motor and controller market for the period 2014–2024.

Market Segmentation by Vehicle

·         Battery Rickshaw

·         E-Auto

·         Retrofitted Rickshaw

Market Segmentation by Motor Power

·         <800 W

·         800–1,000 W

·         1,001–1,500 W

·         1,501–2,000 W

·         >2,000 W

Market Segmentation by End Use

·         Original Equipment Manufacturer (OEM)

·         Aftermarket

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Energy Management System Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

The rising requirement for EMS in emerging economies is creating wide opportunities for the players operating in the EMS market. Because of the surging demand for efficient energy sources to replace traditional energy sources, the market has been witnessing a continuous rise in research and development activities from the market players. 

Another factor leading to the growth of the EMS market is the electrical energy price volatility, which occurs because of demand and supply dynamics. Factors such as economic development, lack of energy supply, and extreme weather conditions also trigger an increase in energy prices. A primary driving factor of the EMS market is the growing adoption of EMS in building automation. 

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In addition to this, the surging exploitation of fossil fuels, which are the major sources of energy at the present time, will compel people to turn to more expensive forms of energy generation. Thus, to cope with these situations, the demand for EMS is increasing. Consumers are increasingly becoming concerned regarding the soaring energy cost and thus are adopting EMS solutions.

Countries such as China and India are witnessing an increase in an urban population attributed to the rapid industrialization, which is further leading to the growing need for electrical energy. This is projected to create a rising demand for EMS in developing countries in the coming years. 

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EMS aids organizations in optimizing the performance of the building by gaining full control over the building energy consumption and its cost. In addition to this, the governments in different regions, such as Middle East and Africa and Asia-Pacific, are focusing on showcasing the benefits of EMS through social media in order to increase their adoption.

Hence, the rising adoption of EMS in building automation and electrical energy price volatility are leading to the growth of the market. 

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Global E-Cigarette Market is Expected to Grow at a CAGR of Over 21.6% During the Forecast Period

One of the drivers of the e-cigarette market is the prospects of ashless and smokeless vaping. Burning of tobacco produces smoke, which is not only harmful to humans but also the environment at large. 

E-cigarettes generate mist, which, in a matter of seconds, dissolves in the air, unlike the smoke that remains suspended. Additionally, as these cigarettes do not produce ash and aren’t burnt, the need for constant ash-flicking and disposing cigarette butts is eliminated. Due to their smokeless feature, they can be used in places where smoking is not allowed.

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Manufacturers operating in the e-cigarette market are presented with immense growth opportunities in regions, such as Africa, Latin America, and Asia-Pacific. Tobacco companies operating in these regions are taking help of different channels, such as retail partners, e-commerce, and grocery stores to expand their market presence and customer base.

Besides this, these companies are also engaging local and national-level distributors to supply products to different distributing channels. Owing to the growing popularity of these products, tobacco companies are heavily investing in the product research & development.

Therefore, the global market for e-cigarette is set to register substantial growth in the forecast period due to the rising health concerns and popularity of smokeless and ashless vaping.

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Air Ambulance Services Market Growth and Demand Forecast to 2030

In 2019, the global air ambulance services market generated a revenue of $8.9 billion and is predicted to attain a value of $15.9 billion by 2030, registering a 5.4% CAGR during the forecast period (2020–2030). In terms of service type, the hospital-based category is projected to grow at a faster pace during the forecast period. This is due to the fact that a large number of public health centers are integrating air ambulance services for patients in emergency situations, primarily in emerging economies.

In terms of aircraft type, the rotary-wing category accounted for the major share of the air ambulance services market during the historical period (2014–2019). This was ascribed to the fact that majority of the patient transports in developed nations, such as the U.K. and the U.S., are done using helicopters. Rotary-wing aircrafts are primarily utilized for short and medium-distance transport and majorly within the city or state boundaries. The fixed-wing category is expected to grow at the faster pace during the forecast period.

Air Ambulance Services Market

The Asia-Pacific (APAC) region is predicted to register the highest growth rate in the air ambulance services market during the forecast period. This is because of the increasing presence of helicopter ambulance services in the region and growing number of patients suffering from life threatening diseases, who need immediate medical care. Apart from this, the governments of several countries in the region are making efforts for introducing air ambulance services for increasing the survival rate of the patients.

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Increasing government efforts for introducing and increasing air ambulance services is a major trend being observed in the air ambulance services market. The government of Tamil Nadu, India, announced in August 2019 that it is setting up air ambulance facilities for transporting patients or people who are injured in road accidents at faraway places to healthcare centers that are situated within 200–300 km radius. In addition, China has also launched a pilot project to conduct air ambulance operations for patients at places that have a lack of medical facilities.

The research offers market size of the Global Air Ambulance Market for the period 2014–2030.

Market Segmentation by Aircraft Type
Rotary-Wing
Fixed-Wing

Market Segmentation by Service Type
Hospital-Based
Community-Based

More Aviation Industry Market Research Reports by P&S Intelligence 

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