Automotive Sensors Market Growth Opportunities Created by Covid19 Outbreak

In 2019, the global automotive sensors market share reached a value of $25,723.8 million and is expected to generate a revenue of $58,215.3 million in 2030, witnessing a 7.4% CAGR during the forecast period (2020–2030). On the basis of application, the powertrain application accounted for the largest volume share of the market in 2019. This is because of the greater utilization of these sensors in transmission, engine, and alternator of the traditional internal combustion engine vehicles.

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The advanced driver-assistance system (ADAS) application is predicted to grow at the fastest pace during the forecast period in the automotive sensors market. At the present time, ADAS sensors find applications in level 1, 2, and 3 autonomous cars. The requirement for these sensors is projected to increase because of the introduction of level 4 and level 5 autonomous vehicles in 2023 and 2025, respectively.

The growing adoption of ADAS sensors is a major driving factor of the automotive sensors market. These sensors are becoming more and more important for vehicles due to the rising adoption of autonomous vehicles. Autonomous vehicles have various functions including eye tracking, natural language interface, driver monitoring, gesture recognition, and virtual assistance, which are highly dependent on enhanced automotive sensors. Furthermore, the development of ADAS, including driver condition evaluation systems, radar-based detection units, camera-based machine vision systems, and sensor fusion engine control units, is creating increasing demand for these sensors. 

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A key trend in the automotive sensors market are technological advancements. For example, the concept of sensor fusion is gaining traction in the automotive industry. The intent of this technology is to combine the best information from each of the sensor systems installed in the vehicle. In addition to this, the growing installation of electronic devices in vehicles has increased the requirement for several automobile sensors for engine management systems, heating, ventilation, & air conditioning systems, and other application areas.

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Memory Market for Autonomous and Connected Vehicles | The Era of Auto Technology!

More than 1.35 million people lose their lives in road crashes every year, says the World Health Organization (WHO). As most such mishaps are a result of human errors, the chorus for integrating advanced safety features in automobiles is growing louder. Additionally, the government in many countries is mandating the installation of automatic braking, advanced driver-assistance systems (ADAS), and lane assist features in vehicles.

As all these functionalities generate a huge volume of data, which needs to be stored efficiently, the global memory market for autonomous and connected vehicles, which valued $4,310.8 million in 2019, is predicted to grow at a CAGR of 23.9% between 2020 and 2030. This is because most connected and all autonomous vehicles would have such features, thereby creating a high demand for physical and cloud-based data storage.

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Integration of NOT-AND (NAND) Flash to Rise Fastest in Future

In the coming years, the NOT-AND (NAND) flash category is expected to witness the fastest growth, on account of the smaller size and higher data transfer rate of this memory type.

The navigation division was the most fruitful for the market, in terms of revenue, in the past, as such functionalities have witnessed a high integration rate in automobiles up till now.

North America has been and will continue being the largest memory market for autonomous and connected vehicles in the near future. This is due to the rapid increase in the number of autonomous passenger and commercial vehicles on the roads and a strong presence of memory providers and automotive technology vendors in the continent. Additionally, the high purchasing power here is already enabling people to purchase expensive vehicles with advanced memory-backed safety and connectivity features.

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Cypress Semiconductor Corporation, Macronix International Co. Ltd., Integrated Silicon Solution Inc., Everspin Technologies Inc., ATP Electronics Inc., Renesas Electronics Corporation, Swissbit AG, Western Digital Corporation, Microchip Technology Inc., SK Hynix Inc., Nanya Technology Corporation, Micron Technology Inc., Winbond Electronics Corporation, Samsung Electronics Co. Ltd., and Toshiba Corporation are the biggest organizations in the global memory market for autonomous and connected vehicles.

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How is Development of Autonomous Cars Driving Laser Diode Market?

The automotive industry has been registering significant growth over the past few years, which can majorly be attributed to the rise in people’s disposable income and strong economic growth in developing countries across the globe. In addition to this, the automotive industry is actively engaged in the development of autonomous and connected cars for providing consumers with enhanced driving experience.

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Moreover, the demand for luxury cars has also been on the rise because of the improving living standards of people in several countries. These vehicles make wide usage of laser diodes, which is why their demand is increasing as well.

Laser diodes are semiconductor devices which generate coherent, high-intensity light. These devices are quite similar to light emitting diodes (LED); however, unlike LEDs, their PN junction generate coherent radiation, which means that the light waves produced have the same phase and frequency. 

Apart from this, the demand for OPSL is also expected to increase considerably in the years to come, due to its advantages, including its unique wavelength flexibility that allows scaling and its ability to match with wavelength needs of several applications. In terms of operational mode, pulsed and continuous-wave are two types of laser diodes. 

Owing to the wide application areas of these devices, the global laser diode market is projected to grow at considerable pace in the near future. The two types of laser diodes are optically pumped semiconductor laser (OPSL) and injection laser diode (ILD). Between these two, the demand for ILD was higher in the past.

In the coming years, the demand for pulsed laser diodes is predicted to increase, owing to their high peak power and excellent power stability with temperature. Some other advantageous optical characteristics of pulsed laser diodes are the ruggedness of diodes and their small and compact size.

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How is Surging Population Driving Artificial Intelligence in Agriculture Market?

The global population is increasing at a rapid rate; for example, as per the United Nations report, the world population is expected to reach 8.6 billion by 2030, growing from 7.7 billion at the present. This surge in the population is bound to lead to the rising demand for agricultural products in the coming years. In addition to this, the arable land across the globe has decreased on account of swift urbanization and industrialization. It is because of these factors that the demand for enhanced devices and technologies in the agricultural sector is increasing. 

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The utilization of artificial intelligence (AI) has increased in the agricultural industry, like it has in many other industries, owing to the fact that this technology can help in increasing the efficiency and productivity of existing farm lands. According to a P&S Intelligence report, the global AI in agriculture market is predicted to reach a value of $11,200.1 million in 2030, increasing from $671.6 million in 2019, progressing at a 30.5% CAGR during the forecast period (2020–2030). Between product, including hardware and software, and services, including managed and professional, the demand for AI products was higher in the past. 

Furthermore, the demand for software products is predicted to increase considerably in the near future, which is because of the growing utilization of AI software in several applications in order to perform several innovative agricultural practices efficiently. Computer vision, machine learning, and predictive analysis are the major AI technologies which are being used in the agricultural sector. The demand for machine learning technology has been the highest in the past and the situation is expected to remain the same in the coming years as well. This technology, along with a combination of data technologies and agronomic sciences, plays in important role in the agriculture industry. 

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The technology is increasingly being adopted by organizations in the agricultural sector for enhancing crop productivity. The major applications of AI in agriculture industry are drone analytics, precision farming, agricultural robots, and livestock monitoring. AI is being extensively utilized for precision farming, as the technique is growing popular among farmers for generating optimum yield with limited resources. This further decreases the cost of crop production. In addition to this, the rising use of internet of things in the agriculture industry is further leading to the increasing adoption of precision farming.

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Why is Urban Air Mobility (UAM) Market Expected to Exhibit Huge Progress in Europe in Future?

Due to the increasing urban population and rising road traffic in many cities, the demand for urban air mobility solutions is increasing at a rapid rate across the world. In many cities around the world, there has been a massive surge in road congestion over the last few years and this has significantly affected the economic activities in the cities. For instance, in the U.S., the average time spent by people in traffic jams each year is 90 hours, which massively increases their commuting expenditure by more than $1,000.

It is highly unlikely that the traffic on roads will lessen, however, the need for dealing with this problem is quite urgent. One of the solutions for curbing road congestion in urban cities can be to make use of autonomous aerial mobility. Due to technological advancements, urban air mobility (UAM), which refers to on-demand, highly automated services for passengers or cargo-carrying applications, has emerged as the latest trend in the transportation sector. The technology can potentially aid in avoiding congestion in cities across the globe. 

The other major factor responsible for the increasing demand for urban air mobility solutions is the rising incidence of road accidents throughout the world, especially in the developing nations such as India, China, and Indonesia because of the soaring population levels in these countries. Powered by these factors, the global urban air mobility (UAM) market is predicted to exhibit a CAGR of 33.9% during the forecast period (2023–2030). At this, the value of the market is predicted to rise from $895.0 million in 2023 to $6,889.4 million by 2030. Such services are offered by light manned or unmanned aircraft, flying at low altitudes.

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In the coming years, North America is expected to emerge as the largest urban air mobility market in throughout the time period 2023–2030. This is due to the fact that major cities in the U.S. are registering high traffic congestion, which, in turn, would result in the rapid adoption of airport shuttle and taxi services. Apart from this, the demand for UAM services is also predicted to rise considerably in Europe in the coming years, which is ascribed to the heavy investments in the domain by France and Germany for procuring the eVTOL technology for commercial applications. 

In conclusion, the surging road congestion is driving the demand for UAM services.  

 

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Mobile VPN Market Market Analysis, Post Covid-19 Impact | Potential Business Impacts for Key Players

It has been witnessed that the banking, financial services, and insurance sector spend a large portion of its revenue in mobile security services and products. Moreover, banks are aiming on protecting customers’ account details along with safeguarding the payment gateways. This has become especially important since the penetration of mobile devices in the bank-customer interaction environment. Thus, the surging need for the protection of data among companies is anticipated to offer huge growth opportunities to the mobile VPN market.



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Organizations' Increasing demand for wireless protected accessibility for critical application area surging prevalence of cyber Threats, and growing need for remote data accessibility in businesses are Strengthening the prospects for the mobile virtual private network market . In the year 2017, the market is down 5.4 million, and it is predicted to register a CAGR of 19.7% over the forecast period (2018-2023). Mobile VPN creates a private network around the public network and helps users send and receive data securely and secretly from smartphones and PCs to and from the network.

Based on end user, the mobile VPN market is classified into healthcare, utilities, telecommunications, oil and gas, government, financial, mining, and military. In 2017, among these, the telecommunications classification held more than 25.0% revenue share in the market and is predicted to maintain its lead during the forecast period. This can be ascribed to the surging smartphone penetration that is escalating the demand for secure transmission of data to and from mobile devices. However, the demand for mobile VPN is predicted to witness the highest CAGR in the healthcare sector.

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Field workers, physicians, and the medical staff are rapidly adopting these solutions to access sensitive medical records and healthcare applications via wireless networks. On the basis of distribution channel, Geographically, in 2017, North America contributed the largest revenue to the mobile VPN market, and it is also anticipated to continue leading it during the forecast period.

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How is Swift Infrastructural Development Driving Geotechnical Instrumentation and Monitoring Market?

The infrastructural development across the globe is increasing at a rapid pace. In 2017, the overall spending in the global construction industry was $11 trillion, which is predicted to increase to $13.5 trillion by the end of 2024. This growth of the construction industry is primarily being driven by development in countries including the U.S., China, and India, where China is projected to witness the fastest growth during 2019–2024.

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The reasons for this are the rising government spending on various transportation projects, such as road construction and high-speed railway lines. Since geotechnical instrumentation and monitoring is widely used for overseeing such projects, the demand for these solutions is growing as well.

A branch of geotechnical engineering, geotechnical instrumentation is used for referring to instruments which are utilized for monitoring geotechnical sites, structures, and the environment. The technology is of high importance for the success of any construction project, such as airports, dams, bridges, high-rise buildings, boreholes, seaports, deep excavation, and railways . 

Owing to these factors, the global geotechnical instrumentation and monitoring market is predicted to generate a revenue of $6.1 billion in 2024, rising from $3.1 billion in 2018, progressing at a 11.8% CAGR during the forecast period (2019–2024).

Services, hardware, including wired and wireless, and software are the major components that are offered under this technology. Out of these, the demand for services was the highest in the past, which is because of the wide adoption of these services for continuously monitoring critical structures in the energy & power sector.

In addition to this, geotechnical instrumentation and monitoring services are also being utilized for monitoring old, critical structures, including dams, on account of government regulations. This is because of the consideration of safety of wildlife and humans.

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