Innovation and technologies are transforming the future of the automotive industry. Telematics, cloud computing, IoT, smart applications, artificial intelligence, cloud-based services, connectivity, smartphone’s integration, tele ....see more
The smart transportation market for mass transit is projected to grow at a CAGR of 8.90% during the forecast period, to reach a market size of USD 44.78 Billion by 2021. A wide array of upcoming railway projects, increased urbanization, and the growing need of public transport has led to the increase in demand for smart transportation solutions and its related components, software and services.
The E-tailing market for automotive applications is projected to grow at a CAGR of 12.53% during the forecast period, to reach USD 49.07 Billion by 2021 from an estimated USD 27.19 Billion in 2016. The base year for the report is 2015 and the forecast year is 2021. The current vehicle population, increasing automobile sales, and increasing penetration of internet has led to the increase in online sales of automotive components. The major market players in the E-tailing market for automotive applications are Advance Auto Parts (U.S.A.), Alibaba Group Holding Limited (China), Amazon.com Inc. (U.S.A.), Delticom AG (Germany), O’Reilly Auto Parts (U.S.A.), Flipkart (India) and eBay Inc. (U.S.A.) etc. which have their presence in not only the domestic but in the international market as well.
The global vehicle diagnostics market is projected to grow at a CAGR of 16.79% from 2016 to 2021, to reach a market size of USD 30.22 Billion by 2021. Stringent emission norms, the rising demand for safety and security in vehicles, and the growing inclination towards premium vehicles are expected to propel the growth of the vehicle diagnostics market. The vehicle diagnostics market, by application, is dominated by the roadside assistance segment, which is estimated to be the largest market, in terms of volume, during the forecast period.
The driver safety market is primarily driven by the growing demand for safety solutions across the globe. The passenger car driver safety market is projected to grow at a CAGR of 6.24%, to reach a market size of USD 3.20 Billion by 2025, whereas the market for off-highway driver safety is projected to grow at a CAGR of 4.91% during the forecast period, to reach USD 380.38 Billion by 2021.
The global vehicle intelligence systems market is primarily driven by the growing concerns regarding pedestrian safety, the demand for an enhanced driving experience, and the rising sales of premium vehicles in developing economies. The market is projected to grow from USD 11.29 Billion in 2016 to USD 20.11 Billion by 2021, at a CAGR of 12.24%.
Automotive energy recovery systems market size, in terms of volume, is projected to grow at a promising CAGR of 9.03% to reach 139.4 Million units by 2019. The market is dominated by players such as Continental AG (Germany), Robert Bosch GmbH (Germany), and Denso Corporation (Japan).
The Blind Spot Detection (BSD) system and Adaptive Cruise Control (ACC) system market in terms of value is projected to grow at a healthy CAGR of 22.8% and 16.9% respectively from 2014 to 2019.The major factor driving the demand of automotive BSD and ACC systems are increased safety awareness, growth of global premium cars market, affordability as well as the institutions such as New Car Assessment Program (NCAP) which awards safety ratings to cars based on the safety performance.
The Night vision system and Driver monitoring system market in terms of value is projected to grow at a healthy CAGR of 18.3% and 16.3% respectively from 2014 to 2019.The major factors driving the demand of automotive night vision system and driver monitoring system are increased safety awareness, rise in sales of premium cars, growth of global automotive industry as well as institutions such as New Car Assessment Program (NCAP) which awarding safety ratings to cars based on safety performance.
The Tire pressure Monitoring System (TPMS) and Lane Departure Warning Systems (LDWS) market in terms of value is projected to grow at a healthy CAGR of 16.3% and 20.2 % respectively from 2014 to 2019. The major factors driving the demand of automotive TPMS and LDW system are stringent safety norms, increased safety awareness, technological advancement, affordability as well as institutions such as the New Car Assessment Program (NCAP) awarding safety ratings to cars based on safety performance.