Autonomous Commercial Vehicle Market Future Trends, Prominent Players, Industry Impact and Forecast by 2030

 Vehicles have certainly made the lives of human being easier, however, the technology has certain drawbacks as well, one of which is the increasing number of road accidents. The major cause of road accidents is human error, since drivers often fail to pay attention properly, drive vehicles at inappropriate speed, and fail to keep safe distance from vehicles moving in front. It is ascribed to such factors that the need for enhancing safety on roads and requirement for safer and more efficient driving option has been surging rapidly across the globe.

This, in turn, is resulting in the growth of the autonomous commercial vehicle market, since the autonomous technology offers safer performance. In addition to this, the evolution in connecting vehicle technologies has also been leading to the growing demand for autonomous commercial vehicles. It is much easier to integrate autonomous technologies in connected vehicles as compared to traditional vehicles. Connected cars are being equipped with vehicle-to-interface and vehicle-to-vehicle connectivity, which are the key requirements for achieving autonomy of vehicles. This rising digitization in the industry is expected to result in the growth of the domain.

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Number of investments are being made for developing autonomous commercial vehicles, which is predicted to further the growth of the market. For example, Volkswagen AG made an announcement regarding investing $34 billion research & development of autonomous technologies in 2018. Similarly, the French government invested more than $45 million in 2018 for boosting the development of autonomous vehicle technology. Governments of several other countries are also investing extensively for developing autonomous driving technologies, which is expected to result in the growth of the market in the years to come.

According to a report by P&S Intelligence, the global autonomous commercial vehicle market size is expected to progress at an 8.2% CAGR during the forecast period (2020–2030). In terms of vehicle autonomy, the market is bifurcated into semi-autonomous and fully-autonomous. Between which, the semi-autonomous bifurcation held the major share of the market in 2019. For achieving level 1 automation, vehicle needs to be equipped with at least one of the advanced driver assistance system (ADAS) features or electronics stability control. Furthermore, countries in Europe and the U.S. have mandated the installation of basic ADAS features in new commercial vehicles, thereby making them semi-autonomous.

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Geographically, North America dominated the global autonomous commercial vehicle market in the past, as per a P&S Intelligence report. The demand for the technology is further expected to be the highest in the region during the forecast period. The rising research & development activities and increasing support from state and federal governments for the evolution of autonomous driving technologies are resulting in the growth of the regional market. The Asia-Pacific region is projected to exhibit the highest CAGR during the forecast period, due to the fact that the region is the largest automobile manufacturing industry across the globe.

In conclusion, the demand for autonomous commercial vehicles is growing due to the surging need for enhancing safety on roads, advancements in connected technologies, and heavy investments.

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Low-Code Development Platform Market Outlook By Size, Demand Status Of Type, Applications And Future Forecast

The key factors driving the growth of the low-code development platform market are the rapid digitization, less requirement for IT professionals associated with the technology, and regulatory uncertainty. The market revenue, which was $10.3 billion in 2019, is projected to increase to $187.0 billion by 2030, at a CAGR of 31.1% during 2020–2030 (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.

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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. 

In 2018, North America was the largest low-code development platform market, owing to the presence of a large number of computer and mobile app developers, deep internet penetration, and high disposable income. During the forecast period, the market is predicted to observe the fastest growth in Asia-Pacific (APAC), because of the increasing smartphone and internet penetration, expanding IT service industry, and rapid economic growth.

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The increasing usage of mobile phones is raising the demand for applications in the region. 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.

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Motion Sensor Market Share: In-Depth Coverage And Various Important Aspects by 2030

The demand for consumer electronics has been increasing rapidly across the globe, as the disposable income of people is rising. In addition to this, the price of products such as smartphones and laptops has decreased considerably since the past few years, owing to technological advancements, owing to which a larger number of people are now able to afford such products. 

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In fact, the penetration of smartphones has been increasing considerably in developing countries such as China and India. Other than smartphones wearable devices have also become increasing popular among young people these days. Attributed to all these factors, the motion sensor market is predicted to generate a revenue of $7,590.8, rising from $4,430.7 million in 2019, and is expected to progress at a 5.1% CAGR during the forecast period (2020–2030). 

On the basis of type, the market is divided into combo sensor, infrared, gyroscope, accelerometer, tomographic sensor, and ultrasonic, among which, the combo sensor division, accounted for the major share of the market in 2019. This is due to the microfibrication of different types of motion sensors into a single device, as it offers enhanced accuracy while detecting motion. All these consumer electronic products make use of motion sensors for functioning properly. 

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A motion sensor is designed for detecting and measuring movement and are majorly utilized in business and home security systems. Motion sensors are integrated along with an embedded computer, a sensor unit, and hardware and are meant for performing highly specific functions, such as triggering audible alarms, alerting the police, activating floodlights, and activating floodlights. The global motion sensor market is predicted to advance at a significant pace in the years to come, owing to the increasing use of consumer electronics.

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Demand for Intelligent Traffic Camera Market to Experience a Significant Dip in 2030, Influenced by COVID-19 Pandemic

 The increasing prevalence of road accidents around the world is an important factor driving the growth of the global intelligent traffic camera market. The market generated $10,087.8 million revenue in 2019 and is expected to attain a value of $24,465.6 million in 2030, exhibiting a CAGR of 8.5% from 2020 to 2030.

According to the World Health Organization (WHO), almost 1.3 million road crashes occur annually all over the world. This road accident rate is much higher in the developing nations such as China, India, and Brazil, on account of the poor conditions of the roads and the high population and road congestion levels. Intelligence traffic cameras help majorly in curbing the incidence of road accidents and preventing deaths caused because of these crashes by capturing videos or images sequences and conducting face recognition and motion analysis of the same. Furthermore, these systems help in monitoring the road traffic levels with the help of vehicle detection and classification.

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Geographically, Europe had the highest market share, by volume, during the last several years. This is ascribed to the fact that many European nations have developed intelligent traffic systems for monitoring the road traffic conditions. This is done via the analysis of historical data pertaining to various parameters such as the usage of pedestrian crossings and car parks, the total number of automobiles in high- and low-congestion regions, roadworks, location, and frequency.

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The intelligent traffic camera market is not dominated by any single player. In fact, it is fragmented, with many global players and some domestic players operating in it. The major market players have taken numerous strategic measures such as partnerships and product launches for gaining a foothold in the global market. For instance, FLIR Systems Inc. launched a high-definition midrange surveillance system called the FLIR Ranger HDC MR in March 2020. This system can detect traffic activities and function properly in harsh weather conditions by using image processing and embedded analytics for reducing the cognitive workload and allowing the users to swiftly differentiate between the false and true traffic conditions and threats.

Some prominent market players are ARH Inc., Pelco Inc., FLIR Systems Inc., Nedap N.V., Sony Corp., Kapsch TrafficCom AG,Canon Inc.,Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd., and VITRONIC GmbH.

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Boom Expected in Automotive Lithium-Ion Battery Sales in Future

The mushrooming requirement for electric vehicles is one of the major factors responsible for the soaring demand for automotive lithium-ion batteries across the globe. As per the observations of the International Energy Agency (IEA), “the global electric car fleet exceeded over 5.1 million in 2018 up 2.0 million in previous year”. In addition to this, the fluctuating prices of oil and gas and the rising environmental degradation caused due to the usage of oil and gas-powered automobiles are further boosting the sales of electric vehicles all over the world.

In addition to the above-mentioned factors, the increasing implementation of favorable regulations and policies by the governments of several countries is also propelling the sales of electric cars all around the world. Furthermore, the provision of various financial incentives and benefits by the governments of many countries on the purchase of electric cars is pushing up the sales of these vehicles, which is, in turn, boosting the demand for lithium-ion batteries as these batteries are extensively used for charging these cars throughout the world.

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Globally, the European automotive lithium-ion battery market will be very lucrative in the coming years, according to the estimates of P&S Intelligence, a market research company based in India. This is attributed to the rising sales of electric vehicles in the region, primarily on account of the presence of favorable government policies. Furthermore, the European Union (EU) has partnered with commercial lenders and battery manufacturing companies for developing an ecosystem that will make the region completely self-sufficient in automotive battery manufacturing in the near future.

The biggest example of such joint efforts is the recent approval granted by the European Investment Bank (EIB) for the provision of a loan worth $392.0 millionto NorthvoltEtt for setting up a battery manufacturing Gigafactory in Sweden. Similarly, the German government is also planning to increase the domestic manufacturing of automotive battery cells in the near future to make the country self-sufficient in lithium-ion battery production. These factors will boost the sales of automotive lithium-ion batteries in Europe in the years to come.

Hence, it can be inferred from the above paragraphs that the sales of automotive lithium-ion batteries will shoot-up all over the world in the forthcoming years, primarily because of the growing adoption of electric vehicles across the world.

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Changes in Consumer Behaviour During COVID-19 Outbreak May Affect Growth of Natural Language Processing Market

By leveraging automatic translation, speech processing, natural language generation (NLG), and sentiment analysis, NLP helps prioritize the extracted information, thereby helping organizations in making the best use of structured as well as unstructured data. Therefore, the growing volume of data, especially in the unstructured form, is driving the natural language processing market, by creating the need for a technology which can help companies in effectively processing and studying it, in order to derive actionable insights.

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Information extraction, machine translation, question answering, text processing, and report generation are the various divisions under the application segment. Among these, the machine translation division dominated the natural language processing market in 2018, as organizations generate a heavy demand for solutions that can translate a given text into numerous languages. 

These chatbots establish the primary contact between the business and customers, sorting out as much of the latter’s concerns as possible, before handing over the case to human employees. The need to enhance customer experience is one of the major drivers for the natural language processing market progress. Customers communicate with organizations via chat messages, e-mails, social media platforms, and phone calls, thereby making it difficult to process all the data. 

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This is itself a result of the rising adoption of chatbots for enhancing the experience of customers, to build brand loyalty and increase revenue. Among the various virtual assistants employed by business in recent years, chatbots have been one of the most popular, as they help companies handle customers’ concerns quickly and efficiently. Further, chatbots which work on NLP are able to process various languages, which helps in the smoothening of processes, particularly those related to customer support. 

NLP helps here by studying the feedback, while saving time and reducing human involvement and errors. With the technology, companies are able to analyze consumers’ preference for the different services and products on offer as well as understand how their decisions are impacted by the cultural and technological scenario.

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What are Main Factors Expected to Cause Boom of DOA Testing Market in Asia-Pacific in Future?

Since the last few years, there has been a huge rise in the usage of illicit drugs, especially amongst the younger population all over the world. This fact is authenticated in the World Drug Report published by the United Nations Office on Drugs and Crime (UNODC) which says that almost 203 million people in the world, in the age group 15—64 years, used illicit drugs in 2013. Furthermore, the report said that the total number of people in the world using illicit drugs increased to 246 million in 2015.

Apart from revealing the total number of illicit drug users in the world in 2013 and 2015, the UNODC also reported that the consumption of cannabis amongst the high-school kids in the U.S. increased from around 24.7% to 25.8% during 2012—2013. This escalating consumption of illicit drugs has considerably increased the need for drug testing, which has, in turn, led to the development of various testing equipment such as breath analyzers and rapid test kits. Owing to these reasons, the global drug of abuse testing market will exhibit substantial growth in the forth coming years.

Geographically, the North American drug of abuse testing market recorded the highest growth over the last few years. However, the Asia-Pacific (APAC) region is predicted to generate huge demand for drug testing methods in the years to come, mainly on account of the rising consumption of illegal drugs and the increasing implementation of strict drug testing protocols in workplaces in various APAC nations. As per a report produced by the Australian Criminal Intelligence Commission (ACIC), 115,421 illegal drug seizures were made from 2015 to 2016 by the various police agencies operating in the country. 

Therefore, it can be said with full surety that the sales of drug testing equipment will shoot-up across the world in the near future, primarily because of the increasing consumption of illicit drugs all over the world.

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