Huge Revenue Jump Expected in Global Automotive OTA Updates Market During 2021–2030

The global automotive over-the-air updates market attained a revenue of $2,422.6 million in 2020, and it is predicted to progress at a CAGR of 19.5% between 2021 and 2030. Furthermore, the market will reach a valuation of $13,859.5 million by 2030, as per the forecast of P&S Intelligence, a market research company based in India. The factors driving the market advancement are the growing deployment of electric vehicles (EVs) and connected cars across the world. 

The increasing deployment of these vehicles is pushing up the requirement for OTA updates, as these vehicles are heavily reliant on the software for their efficient functioning. Moreover, many original equipment manufacturers (OEMs) are making huge investments in OTA upgradation technologies for making it easier for the vehicle owners to update the software of their vehicles. The simplification of the automotive software upgradation process is propelling the growth of the automotive OTA updates market.

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Furthermore, the surging rate of automotive digitalization is pushing up the demand for regular software updates, including updates for cybersecurity solutions. Instead of sending the vehicle to the garage, it is more economical to install these software updates wirelessly or OTA. OTA updates enhance the functionality and facilitate an internet of things (IoT)-integrated environment, which, in turn, makes it very easy to launch new features and protect the devices against data breaches, hacking, and various other types of cyberattacks. 

Another major factor fueling the advancement of the automotive OTA updates market is the increasing implementation of stringent vehicle safety regulations in several countries, because of the rising incidence of road accidents. Automotive manufacturing companies all over the world have always prioritized vehicle safety and with the enactment of vehicle monitoring standards and safety regulations, it has now become imperative for them to make their products compatible with the vehicle standards.

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Therefore, it can be said with full surety that the market will demonstrate rapid expansion in the forthcoming years, mainly due to the increasing deployment of electric vehicles and connected cars and the surging implementation of strict vehicle safety policies by various governments around the world. 

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Why will Demand for Retail E-Commerce Packaging Shoot Up in Middle East and Africa in Future?

The mushrooming demand for various consumable and non-consumable products, on account of the surging global population, is pushing up the requirement for retail e-commerce packaging solutions across the world. As per the United Nations Department of Economic and Social Affairs (UNDESA), the total population of the world is soaring rapidly. It is predicted to grow from 7.6 billion in 2019 to 8.6 billion, 9.8 billion, and 11.2 billion by 2030, 2050, and 2100 respectively. 

Additionally, the increasing penetration of the internet and the growing usage of smartphones are fueling the demand for retail e-commerce packaging solutions across the world. This is because the rapid expansion of digital industries such as the e-commerce industry, on account of the soaring internet penetration, is positively impacting the demand for various packaging materials. Apart from these factors, the ongoing COVID-19 pandemic is also fueling the growth of the retail e-commerce packaging market around the world. 

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As per the World Trade Organization, the imposition of lockdowns, social distancing, and several other protective measures for controlling the spread of the infection in various countries has caused a sharp surge in various online shopping activities, teleconferencing and web conferencing usage, film and video streaming, and social media usage. This has, in turn, propelled the business-to-customer (B2C) sales of household essentials, food products, and medical supplies all over the world.

Across the globe, the Middle East and Africa retail e-commerce packaging market is predicted to demonstrate the fastest growth in the upcoming years. This will be a result of the implementation of various government policies in the regional countries such as the U.A.E. and Saudi Arabia for reducing the economic dependence of these countries on the oil and gas industry and fueling growth in various other sectors such as e-commerce. 

Hence, it can be said with surety that the demand for retail e-commerce packaging will shoot-up across the world in the coming years, primarily because of the burgeoning requirement for different consumable and non-consumable products and the increasing popularity of e-commerce in various countries. 

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Revenue Explosion Expected in Global Automotive Busbar Market Between 2021 and 2030

The global automotive busbar market reached a value of $17.4 million in 2020, and it is predicted to progress at a CAGR of 24.6% between 2021 and 2030. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market will generate a revenue of $177.1 million in 2030. The surging deployment of electric vehicles (EVs) in several countries is a key factor driving the expansion of the market.

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This is primarily because busbars are extensively used in EVs, as traditional cell connections such as strips, lugs, and welded wires are extremely prone to failure due to the dislocation of the cells because of the vibrations caused by a moving automobile. Moreover, busbars have low thermal and electrical resistance and are thus, used heavily in EV manufacturing processes. Besides these, the soaring usage of plug-in hybrid EVs (PHEVs) is also fueling the worldwide demand for automotive busbars.

Many automakers such as BMW AG, Tesla Inc., and Hyundai Motor Company are increasingly focusing on manufacturing EVs, thereby positively impacting the market expansion across the world. The other factors fueling the market growth are the operational benefits and lower costs of busbars than cables. Busbars reduce the assembly time, which, in turn, curtails the internal manufacturing and material handling costs. Additionally, they are widely preferred in motor control center applications, due to their ability to provide ease of retrofitting. 

Because of the aforementioned factors, automobile manufacturers are increasingly preferring busbars over cables. Depending on conductor, the automotive busbar market is divided into aluminum and copper. Between these, the copper category accounted for majority shares in the market in 2020. This was because of the large-scale usage of copper as a conducting material in busbars, on account of its high electrical conductivity, non-magnetic and easily machinable characteristics, and high corrosion resistance. 

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Hence, it can be safely said that the market will register huge expansion in the coming years, primarily because of the growing deployment of EVs and EV charging stations in several countries around the world. 

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Asia-Pacific Set to Witness Surge in Graphite Market in Coming Years

The global graphite market generated a revenue of $19,092.9 million in 2019 and is predicted to reach a valuation of $36,889.1 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market will progress at a CAGR of 7.4% between 2020 and 2030. The factors driving the advancement of the market are the rising requirement for graphite products in the electronics and metallurgy industries around the world. 

Additionally, the growing requirement for graphite in lithium-ion batteries and steel production processes is fueling the expansion of the market for graphite across the world. As per the World Steel Association, the global crude steel manufacturing increased from 1,814 million tons in 2018 to 1,869 million tons in 2019. The surge in steel manufacturing is because of the rising requirement for steel products in several end-use industries such as automotive, oil & gas, residential, and construction. 

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Because of its various beneficial traits such as high durability, strength at extreme temperatures, and high corrosion resistance, graphite is extensively used in the steel manufacturing process. Besides this, the mushrooming usage of graphite in lithium-ion batteries is also propelling the growth of the graphite market all over the world. Graphite is used in huge quantities in lithium-ion batteries as an anode. Each lithium-ion battery needs more graphite (10–20 times) than lithium.

Globally, the market is predicted to register huge expansion in Asia-Pacific (APAC) in the forthcoming years. This will be a result of the growing usage of smartphones, the soaring sales of automobiles, particularly electric vehicles, the expansion of mining operations, and surging commercial applications of graphite in the regional countries. In addition to these, the increasing manufacturing and import of graphite for meeting the domestic requirement for lithium-ion batteries is further boosting the sales of graphite in this region. 

Hence, it can be said with full confidence that the market will exhibit rapid advancement all over the world in the upcoming years, primarily because of the rising requirement for graphite in metallurgy, automobile, and electronics industries around the world.

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Triazine Sales Predicted to Boom in North America in Coming Years

With the growing usage of triazine in the petrochemical industry, its sales are climbing across the world. The compound is heavily used as a scavenger chemical in the stripping process for removing H2S from crude oil. The monitoring of H2S concentrations in petroleum reservoirs is extremely important, on account of the fact that it is a highly corrosive, flammable, and life-threatening gas. Moreover, because of these characteristics of H2S, stringent safety protocols are followed during the operation of various oilfields.

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As the compound has a plethora of beneficial pharmacological characteristics such as anti-inflammatory and antimicrobial features, it is increasingly being used for developing novel drugs. Additionally, the ring structure of triazine is found in various naturally occurring antibiotics such as toxoflavin, reumycin, and fervenulin. 1,3,5- triazine, which is one of the oldest known and most popular organic compounds, is widely used in acetoguanamine, cyanuric acid, aceto-guanide, and ammeline as a lead structure.

Another major factor propelling the growth of the triazine market is the ballooning usage of the compound in the agriculture sector. In this industry, the compound is heavily used as selective post- and pre-emergence weed control agents for corn, sugarcane, barley, sorghum, and wheat. Moreover, because of the surge in the area under farming and cultivation, the production of sugarcane, wheat, and barley is soaring, particularly in the emerging economies around the world.

Therefore, it can be said with full surety that the demand for triazine will shoot up all over the world in the upcoming years, mainly because of the mushrooming requirement for the compound in the petrochemical and healthcare industries and also in farming processes as weed control agents.

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How Is Flourishing Metallurgy Sector Driving Asia Charcoal Briquettes Market?

The soaring popularity of barbecued food and flourishing cement and steel industries will drive the Asian charcoal briquettes market at a CAGR of 6.2% during the forecast period (2020–2024). The market stood at $952.5 million in 2019, and it is projected to reach $1,158.4 million by 2024. Asia has a vivid culture, with every nation having its signature cuisines and cooking styles. However, changing food preferences of people and a growing awareness about a healthy lifestyle can be observed in every country. Owing to this, the consumption of grilled or barbecued food is rapidly rising in the region.

Moreover, the growing metallurgy industry in the region will facilitate the Asian charcoal briquettes market growth in the future. The mushrooming production of steel in China and India has resulted in a high demand for fuels such as charcoal briquettes, as they offer a notable amount of heat for the manufacturing process. The steel industry is increasingly using charcoal briquettes as they are a cost-effective raw material and work as an effective substitute for traditional fuels. Moreover, this fuel is a clean and renewable source of energy.

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India is presently the largest Asian charcoal briquettes market because it is home to a number of producers, therefore accounts for a rather high-volume availability of the fuel. In 2018, 2,880.0 thousand tons of the fuel were produced in the country, says the Food and Agriculture Organization (FAO), which allowed for its easy availability in rural areas, where many people still do not have gas stoves and rely on charcoal for everyday cooking. Moreover, the fuel is also becoming popular for industrial usage in the country.

The Asian charcoal briquettes market is extremely unorganized due to the presence of several small players. Some of the leading players are Thailand Premium Charcoal Supplier, Sagar Charcoal and Firewood Depot, Matsuri International Co. Ltd., Life Green Charcoal Sdn Bhd, PT. Coconut Charcoal Briquette Factory, Mackay Green Energy Inc., PT. Ruby Privatindo, Mesjaya Abadi Sdn Bhd, COCO Energy, and Subur Tiasa Holdings Berhad. These companies are using several strategic measures, such as product launches and distribution agreements, to increase their revenue.

Thus, the growing inclination toward barbecued or grilled food and strengthening metallurgy industry in Asia will fuel the demand for charcoal briquettes in the future.

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Why will Indian Aerosol Market Boom in Northern India in Coming Years?

The aerosol market in India reached a revenue of $526.28 million in 2019 and it is predicted to progress at a CAGR of 6.0% between 2020 and 2030. Furthermore, the market will attain a valuation of $891.13 million by 2030. The market is being driven by the burgeoning requirement for aerosols in the manufacturing and automotive industries and the increasing enactment of favorable government initiatives regarding research and development (R&D) activities in the manufacturing industry.

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With the surging manufacturing of commercial vehicles, passenger cars, two-wheelers, three-wheelers, and quadracycles, the sales of aerosols are growing rapidly in India. As per the Society of Indian Automobile Manufacturers (SIAM), in India, the automotive industry manufactured 30,915,420 vehicles during 2018–19. As per the India Brand Equity Foundation (IBEF), because of the soaring population of young people and the disposable income of people, the sales of automobiles will skyrocket in the coming years.

Geographically, the Indian aerosol market registered the highest growth in the northern part of the country during the last few years and this trend will continue in the forthcoming years as well, as per the forecast of P&S Intelligence, a market research company based in India. This is credited to the growing consumer preference for various personal hygiene products such as antiperspirants and deodorants and aerosol-based homecare and car care products in the northern region.

Hence, it can be said with full confidence that the market will demonstrate huge expansion in the coming years, primarily because of the growing requirement for aerosol in the manufacturing and automotive industries in the country.

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