U.S. Advanced Driver-Assistance Systems Market is Expecting Major Tech Revolution in Near Future

The need for increasing safety and security of vehicles, for the sake of both drivers and pedestrians, is increasing day by day all over the globe, including the U.S. As per the Association of Safe International Road Travel, over 38,000 people die in crashes every day on roadways in the U.S. In addition to this, about 4.4 million people are injured enough to need medical intervention. The country suffers from 50% more road crash deaths among all high-income countries, which further increases the cost of dealing with these situations. Because of these factors, the auto manufacturers are increasingly involved in coming up with advanced solutions that can increase the safety of vehicles.

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One such solution is the integration of advanced driver assistance systems (ADAS) in cars. ADAS is utilized for describing the different safety features that are being integrated in vehicles to enhance driving experience by decreasing the severity and number of vehicle crashes. The system can warn the driver and further intervene for helping the driver to remain in control of the vehicle in case the possibility of an accident arises. In addition to this, if the accident cannot be avoided, ADAS can ensure that its severity is decreased.

Attributed to such advantages, the U.S. ADAS market is expected to grow at a substantial rate in the near future. ADAS can be integrated in medium & heavy commercial vehicles, passenger cars, and light commercial vehicles. The system consists of a number of sensors, including laser sensor, ultrasonic senor, radar sensor, light detection and ranging sensor, and infrared sensor. Out of all these, the demand for radar sensors is predicted to be the highest in the coming years, which can be ascribed to the increasing applications in autonomous and connected vehicles and reducing cost of these sensors.

Hence, the demand for safety of roads is leading to the growing adoption of ADAS in the U.S.

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Why is Electric Toothbrush Market Growing Explosively in Asia-Pacific?

The global electric toothbrush market generated a revenue of $2.7 billion in 2019 and is predicted to progress at a CAGR of 5.7% between 2020 and 2030. According to the estimates of the market research company, P&S Intelligence, the market would attain a valuation of $4.8 billion by 2030. The key factors driving the progress of the market are the growing public awareness about the various benefits of electric toothbrushes and unhealthy dietary habits of people around the world.

Some of the most highly prevalent unhealthy eating habits are the consumption of sugar-rich foods, tobacco, and alcohol. These consumption habits have detrimental effects on the oral hygiene of a person. Moreover, these habits are pushing up the requirement for smart toothbrushes, which is, in turn, fueling the sales of electric toothbrushes. For example, as per the IDF Diabetes Atlas 2019, the worldwide incidence of diabetes in people in the age group- 20–79 years was nearly 463 million.

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When head movement is taken into consideration, the electric toothbrush market is divided into rotation/oscillation and sonic/side-by-side. Between these, the sonic/side-by-side category recorded higher growth in the market in the past years, both in terms of value and volume. These toothbrushes usually vibrate at a 24,000–40,000 strokes per minute frequency. This kind of powerful vibration makes these toothbrushes more effective than the rotating/oscillating ones. Globally, the market would register the highest CAGR in Asia-Pacific (APAC) in the forthcoming years.

Market Segmentation by Bristle

·         Soft

·         Nanometer

Market Segmentation by Head Movement

·         Sonic/Side-by-Side

·         Rotation/Oscillation

Market Segmentation by Product Type

·         Rechargeable

·         Battery

Market Segmentation by Distribution Channel

·         Supermarkets/Hypermarkets

·         Pharmacy/Drug Stores

·         Online Platforms

·         Others

Market Segmentation by End User

·         Adults

·         Children

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Flourishing Cold Chain Industry Driving Demand for Industrial Refrigeration Systems

The rapid expansion in the global cold chain industry is fueling the demand for industrial refrigeration systems across the world. The mushrooming sales of medicines is the biggest factor responsible for the growth of the worldwide cold chain industry. According to reports, the sales of biotech drugs and biologic products surpassed $340 billion valuation in 2019 and are predicted to rise even more in the coming years.

This is pushing up the requirement for special logistics solutions. These solutions are required to maintain the quality of temperature sensitive products such as those that need to be stored in the temperature range of 2–8 °C, during their shipping from manufacturing zones to pharmacies, clinics, patients, and hospitals across the world.

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The ballooning consumption of these temperature-sensitive products in both developing and developed countries is driving the demand for cold chain in the pharmaceuticals industry. This is subsequently augmenting the requirement for industrial refrigeration systems. Because of the aforementioned reasons, the demand for industrial refrigeration systems is rising rapidly across the globe.

This is, in turn, propelling the advancement of the global industrial refrigeration systems market. As a result, the market revenue is predicted to grow from $26.8 billion to $41.1 billion from 2019 to 2030. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market would advance at a CAGR of 5.0% between 2020 and 2030.

This market research report provides a comprehensive overview of the industrial refrigeration systems market

• Historical and the present size of the industrial refrigeration systems market
• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential

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How is Rising Incidence of Road Accidents Driving Progress of Indian Car Airbag Market?

The rising prevalence of road accidents and the increasing awareness amongst the people about passenger and vehicle safety are some of the key factors fuelling the rising demand for airbags in cars in India. The vehicular population in the country has tripled over the last decade and this is one of the major factors responsible for the heavy road traffic congestion in the country. Moreover, the negligible growth in the road density in many cities and towns has contributed significantly toward the increasing incidence of road accidents in the country.

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The other major factor responsible for the rising incorporation of airbags in cars in India is the presence of stringent government policies pertaining to the adoption of airbags in cars in the country. Owing to the increasing number of road accidents, the government and various other regulatory bodies are increasingly enacting strict measures and regulations for mandating the adoption of airbags, even in the low and medium-range cars in the country. Due to these factors, the Indian car airbag market is predicted to register huge growth during the forecast period (2020—2030).

There are two main car airbag distribution channels in the country— the original equipment manufacturers (OEMs) and the automobile aftermarket. Of these, the OEMs recorded higher sales of airbags during the historical period and this tend is also expected to continue during the forecast period. This is primarily attributed to the presence of strict government regulations mandating the incorporation of airbags in certain vehicles in the country. However, as per many surveys and studies, the aftermarket distribution channel is expected to record faster rise in popularity and thus, faster growth in the Indian car airbag market during the forecast period.

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Hence, it can be said with certainty that the adoption of airbags will shoot-up in the cars in India in the upcoming years, on account of the rising incidence of road accidents and increasing enactment of policies and regulations aimed at promoting the adoption of airbags in cars in the country by the government and other regulatory bodies.

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Immediate Short-Term Impact of COVID-19 Pandemic on Electric Vehicle Industry

 Due to the rising pollution and increasing public awareness about the toxic emissions released from fossil fuel-powered vehicles, the global electric vehicle market has observed a sharp surge in recent years. Moreover, the enhanced safety and comfort provided by the electric vehicles and the implementation of several favorable government initiatives in many countries have caused the rapid advancement of the market during the last few years, especially from 2014 to 2019.

Due to this expansion, the global electric car fleet in 2019 recorded a growth of over 40% from 2018 and later surpassed 7.2 million units at the end of the year. According to reports, 2.1 million units of electric vehicles were sold all over the world in 2019. Many industry experts predicted that 2020 would be an even better year for the market. However, the COVID-19 pandemic had other plans.

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According to the forecast of the market research firm, P&S Intelligence, the market would register a fall of as much as 43% from the previously expected pre-COVID forecast for 2020. Furthermore, the sales of electric vehicles would fall to only 1.8 million units in 2020, which is a considerable reduction from the global sales observed in 2019. China, which is the biggest electric vehicle market in the world, recorded a huge fall in electric vehicle sales because of COVID.

Hence, it is safe to say from the above paragraphs that the COVID-19 pandemic has significantly affected the progress of the market and as a result, the market would now fall sharply all over the world in the coming months. However, the market would rebound strongly once the COVID situation improves and start exhibiting rapid expansion throughout the world.

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How are Technological Advancements Driving Cooperative Vehicle Infrastructure System Market?

The development of technologies such as internet of things (IoT) and artificial intelligence (AI) have had a positive impact on the automotive industry, just like many other industries. These technologies are increasingly being utilized in vehicles to make them safer and more efficient in order to provide consumers with enhanced driving experience. In addition to this, the focus on development of autonomous cars has increased significantly as well. Because of strong economic growth and increasing disposable income of people, the demand for autonomous vehicles is predicted to increase considerably in the near future.

Ascribed to these factors, the global cooperative vehicle infrastructure system market is expected to grow at a substantial pace in the years to come. CVIS is provides by original equipment manufacturers (OEM) and third-party service providers. This is divided on the basis of solutions and connection hardware that are provided. The data collected via IoT is analyzed and is utilized for taking intelligent decisions regarding policy making and business. In terms of communication, the CVIS is divided into vehicle-to-everything (V2X) and vehicle-to-infrastructure (V2I), between which, the demand for V2I was higher in the past.

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Hence, the demand for CVIS is growing due to technological advancements, development of IoT and AI, rising penetration of autonomous and connected cars, and increasing focus on enhancing the safety of drivers and pedestrians.

This study covers                                           

·         Historical and the present size of the cooperative vehicle infrastructure system market

·         Future potential of the market through its forecast for the period 2020-2030

·         Major factors driving the market and their impact during the short, medium, and long terms

·         Market restraints and their impact during the short, medium, and long terms

·         Recent trends and evolving opportunities for the market participants

·         Historical and the present size of the market segments and understand their comparative future potential

·         Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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COVID-19 Leading ToSupply Chain Constraints for Logistics Industry

The impact of COVID-19 on the logistics industry has been quite negative, as the growth of the industry has slowed down due to the nationwide lockdown in most of the affected countries. Owing to the growth in e-commerce activities, increase in the disposable income of customers, and rapid urbanization in emerging economies, such as India and China, the logistics industry had been growing in recent years. Seeing the rising need for the transportation of goods, many new companies were entering the logistics space before the pandemic arrived.

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TheCOVID-19 impact analysis on the logistics industry reveals that trading activities between nations were discontinued to contain the spread of the virus, which disrupted the supply chain. For instance, the supply chain of China is operational across countries including India, South Korea, Japan, Hong Kong, Singapore, the U.K., Spain, Italy, and Germany, all of which are badly jolted by the pandemic. Apart from China, all these nations exchange essential and non-essential items with each other; the interconnected logistics operations have been the reason the entire industry is feeling the effects of COVID-19.

To revitalize the logistics industry during the pandemic, market players are making tactical changes and framing backup policies. These measures, according to the COVID-19 impact analysis on the logistics industry, will help service providers bounce back on the recovery road, by delivering the goods that are stuck in warehouses. Major logistics companies taking such measures include Supply Chain Solutions and Geodis, Deutsche Post DHL, The Maersk Group, Panalpina, Kuehne+ Nagel, DB Schenker Logistics, Dsv Global Transports and Logistics, and C.H. Robinson.

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This slowdown, however, is temporary, and the industry is already on the recovery road, with the relaxing of the lockdowns and measures being taken by the players. As soon as the pandemic is over, transportation and trade activities will resume to their original scale, which will, in turn, revive the logistics industry.

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