Asia-Pacific Anti-Drone Market to Witness 47.8% CAGR during 2018–2025
According to a report by P&S Intelligence, the Asia-Pacific (APAC) anti-drone market is predicted to generate $2,105.0 million by 2025, and is projected to advance at a 47.8% CAGR during the forecast period (2018–2025). The market is being driven by the rising number of illegal and terrorist activities, surging incidence of security contravention by unauthorized drones, close encounters with commercial aircraft, and drone detection cases. On the basis of platform type, the market is divided into ground-based, unmanned aerial vehicle (UAV)-based, and hand-held.
This is majorly because of the early adoption of these drones as compared to other technologies in the APAC region. This being said, players operating in the APAC anti-drone market are also focusing on developing innovative laser anti-drones for countering security threats that are posed by drones. When end user is taken into consideration, the market is classified into government, military & defense, commercial, and others. Out of these, the military & defense industry is predicted to contribute the largest revenue share to the market during the forecast period.
This is because of the significant budget for the defense industry in APAC countries. Within, the region, China is projected to dominate the APAC anti-drone market during the forecast period. In 2017, the country accounted for 35%, which is owing to the fact that the government of the country has invested considerably in technology and armed forces for strengthening defense capabilities. When it comes to defense budget, China is on the 2nd rank in the world, and 7 of the world’s major defense companies are located in China. To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/apac-anti-drone-market/report-sample
The increasing adoption of counter-drones in emerging economies is opening up wide opportunities for the players operating in the APAC anti-drone market. While the adoption of this product is still in the initial stage in developing nations, including India and Japan, a surging demand for them is projected to be created by end users in the years to come. Furthermore, enhancements in interdiction range and detection efficiency in radio frequency jamming/spoofing and laser methods are also predicted to drive the demand for these products in the years to come.
Hence, the growing number of illegal activities and rising adoption of counter-drones in developing countries are driving the market.
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How Do Rising Fuel Prices Propel Sales of LSEVs in APAC?
A steady rise in the sales of electric vehicles has been witnessed of late in India due to the increasing petrol (gasoline) prices. Simultaneously, manufacturers are focusing on making EVs safe and free of the risk of fire. India intends to achieve its EV ambitions through the Fame scheme, which aims to make it easier for people to buy EVs with a total investment of a ginormous INR 10,000 crore!
Similar to this national scheme, state governments have launched their EV subsidy programs. For instance, the GEDA initiative of the Gujarat government provides a subsidy of INR 12,000 on electric two-wheelers with a limited speed of 25km/hour to students of class 9th to 12th. In the same way, the FAME scheme allows for a maximum subsidy of INR 20,000 on electric two-wheelers with a maximum of 2 kWh battery capacity and factory price of INR 1.5 lakh.
Moreover, low-speed e-scooters are widely used for B2B purposes, such as delivery services, which are high in demand with the expansion of the e-commerce sector. In fact, fleet operators might be the customer base with the biggest potential for APAC LSEV market players, since, despite the subsidies, EVs, in general, can be expensive for individuals. Thus, OEMs might look to target well-funded e-commerce, parcel delivery, and micromobility service providers.
Similarly, China is experiencing a surge in the traction of low-speed electric cars, the prices of which usually start around $1,600, which is the same as that of an iPhone 12 Pro Max. Moreover, the smaller size (resulting in less parking space requirement) and convenience offered by these LSEVs lead to their increasing demand. According to the Passenger Car Association, in China, more than 6 million electric cars plied in 2020.
Encouraged by the positive signs, OEMs are intensifying their efforts to launch newer, cost-effective LSEV models. For instance, just two months ago, Nissan Motor Co. partnered with Mitsubishi Motors Corp. to soon launch an ultra-small EV in Japan. The model will be based on the minivehicle standard of the country and priced at $11,719 (JPY 1.5 million) in Tokyo. The price includes the subsidies provided by the metropolitan government and central government, of JPY 450,000 and JPY 550,000, respectively.
Nissan will sell the vehicle as Sakura, with the least-expensive model costing around JPY 2.33 million, while Mitsubishi will market it as eK X EV, with a starting cost of about JPY 2.39 million. However, after subtracting the subsidies offered by governments in different prefectures of Japan, people would be able to buy them for around JPY 1.5 million.
Therefore, the demand for LSEVs is rising due to their low cost and no requirement for a license or registration. Essentially, the surging gasoline and diesel prices in the region have been raising people’s concerns regarding the cost of living.
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Singapore Micromobility Market Size, Share, and Growth Insights
The Singaporean micromobility market size is set to witness a 64.2% CAGR during 2021–2030, to reach $1,817.9 million by 2030 from $15.8 million in 2020.
The demand for these services is growing in the country because of:
Stringent Vehicle Ownership Regulations: Singapore is a small and densely population city–state, which is why the government strongly regulates the number of vehicles on the roads. For a population of 5.6 million, Singapore has only 509,000 cars. The government only allows people to own a car for 10 years, after placing successful bids, which can be as high as $40,000. This offers a vast growth potential to micromobility service providers, who can leverage the unmet need for public transit.
Since traditional mass transit means, such as buses and metros, are overcrowded, they have raised a serious threat of infection during the pandemic. Hence, the Singaporean micromobility market has been impacted positively as people are using these services to maintain social distancing. Further, bus and metro services were curtailed during the lockdowns, which further drove the popularity of such shared mobility services.
The bikes category will grow the fastest in the Singaporean micromobility market in the coming years, based on vehicle type. These vehicles are environment-friendly and cost-effective for usage. Moreover, due to the presence of numerous service providers, Singapore is one of the biggest bike sharing markets in Asia-Pacific (APAC).
Key Findings of Singapore Micromobility Market Report
• Unfavorable vehicle ownership laws boosting micromobility demand
• More people availing of services since COVID-19 outbreak
• E-scooters to be preferred micromobility vehicle in coming years
• Dockless sharing systems preferred by commuters and service providers
• Micromobility effective in bridging first- and last-mile gap
• 5G technology to strengthen micromobility landscape in Singapore
In the past, the first- and last-mile bifurcation dominated the Singaporean micromobility market, on the basis of model. The high population and restrictions on personal vehicles have created a vast unmet need for first- and last-mile transportation, where micromobility has emerged as an efficient solution.
Philippines Micromobility Market Revenue to Cross $13,899.7 Million by 2030
The Philippines micromobility market value stood at $1.9 million in 2020, and it is predicted to surge to $13,899.7 million by 2030, exhibiting a CAGR of 158.6% from 2021 to 2030.
The market for micromobility in Philippines is driven by:
• Rising Demand for Mitigating Pollution: With the extensive use of fossil-fuel-powered automobiles, air pollution levels are rising at an alarming pace in the Philippines, which is subsequently causing a sharp rise in the prevalence of various lung diseases. As micromobility reduces the requirement for personal vehicle ownership, its increasing adoption is expected to reduce the number of vehicles on the country’s roads, thereby mitigating air pollution.
• Falling Prices of Electric Vehicle Batteries: With the declining prices of the batteries used in electric vehicles, the latter’s adoption is surging in the country. Moreover, this is encouraging many Philippines micromobility market players to adopt electric vehicles. Additionally, several market players are incorporating new-age lithium-ion batteries on account of their greater eco-friendliness, increased running economy, and reduced charging time.
The COVID-19 pandemic has positively impacted the Philippines micromobility market. Owing to the pandemic, people are preferring micromobility over conventional shared mobility, as it will allow them to maintain social distancing. For example, when the stay-at-home orders were lifted in Manila, a large number of people began cycling or walking to work, instead of using public transportation services, such as buses.
The dockless category dominated the Philippines micromobility market during the last few years, and it is predicted to demonstrate the faster growth in the forthcoming years as well, within the sharing system segment. The dockless sharing system is being increasingly adopted by market players on account of the rising preference of customers for it over the docked system. This is because the vehicles deployed via such systems can be picked up and dropped off anywhere.
Key Findings of Philippines Micromobility Market Report
• Soaring demand for greener environment biggest market driver
• Micromobility providing better first- and last-mile connectivity
• Popularity of e-mopeds was highest in past
• Adoption of dockless sharing systems will surge
• Micromobility service providers adopting electric vehicles
• Market players focusing on service expansion
U.S. Automotive Tire Market To Prosper Exponentially till 2024
During the forecast period of 2019–2024, the U.S. automotive tire market is expected to witness growth at a 5.4% CAGR. It stood at $57.9 billion in 2018, and it is projected to register a significant increase in its revenue to $75.4 billion by 2024. This growth can be attributed to the expanding automobile industry and high rate of tire replacement, due to constant innovations and an aim to increase the average lifespan of vehicles. Additionally, electric vehicles (EVs) have widened the scope for the market with new and environment-friendly mobility options.
There has been a surge in the demand for lightweight automobiles and EVs in the U.S. With their increasing sales volume, the expanding automobile industry has enhanced the growth prospects for the U.S. automotive tire market. The U.S. is home to several automobile manufacturers, who are consistently focusing on innovations. The demand for low-emission vehicles has led to the engineering of modified, lightweight tires, which are custom-made by original equipment manufacturers (OEMs). The tire industry is, thus, advancing with the expansion in the automobile sector. These newly developed tires also help in energy saving and offer a smooth driving experience.
The U.S. automotive tire market can be further categorized based on design into radial and bias tires, under the design segment. Of these, radial tires held the large share of the market in 2018, and they are predicted to continue doing so during 2019–2024. The durability quotient of radial tires makes them more viable than bias tires. In addition, the former are sturdier due to the presence of perpendicular polyester piles and crisscrossed steel belts, therefore, will witness an even higher market demand in the future.
The multi-faceted tire industry offers tires that break the constraints of seasons as well. Therefore, based on type, the market can be divided into winter, summer, and all-season tires. Among these, the U.S. automotive tire market was dominated by all-season tires in recent years. With the increasing availability of these tires, the demand for season-specific tires has substantially gone down. All-season tires are a much more viable option, which is why their sales are projected to grow multifold till 2024.
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Automotive Telematics Market To Reach $149.9 Billion in 2030
$149.9 billion in 2030. The market is predicted to grow at a 16.6% CAGR from 2020 to 2030 owing to the growing adoption of connected vehicles and the rising count of collaborations and partnerships. The fastest growth in this market will be observed in LAMEA in the coming years. This is because of the deployment of safety features in vehicles, connected vehicle technologies, and skyrocketing fleet telematics demand.
A major driver in the automotive telematics market is the increasing number of partnerships and collaborations among telematics solution providers, numerous system providers, and original equipment manufacturers. For instance, Avis Budget Group Inc. collaborated with Verizon Communications Inc., to initiate an everything-in-one digital travel assistant, especially for consumers of Payless Car Rental Inc. and Avis Budget Group Inc. with the help of Verizon’s intricate 4G LTE network.
The greater adoption of technologies in the automotive telematics market will help its players to adapt to the changing dynamics and tastes & preferences of consumers. The amalgamation of 5G network innovations into telematics solutions offers lucrative growth chances for key players in this market owing to higher radio frequencies than the 4G network. There is a strong need for better network connectivity to ease the working of vehicle technologies as telematics solutions increase their complexity. The first company to incorporate a 5G network in the U.S. was Verizon Communications Inc. in December 2019.
North America had been the largest revenue generator for automotive telematics in the recent past attributed to greater support by the U.S. government are reaping profits in this market. These government initiations not only exhibit the futuristic development of this industry but also lay a better foundation for technical advancements. The U.S. dominated the market buoyed by advantageous policy frameworks and significant investments from both private and government sectors. The rising sales of trucks in the country would boost the requirement for automotive telemetrics in the future, yielding lucrative opportunities for the market players.
Hence, greater deployment of connected vehicles and a rising number of collaborations ,partnerships will drive the market.
Why is Introduction of Connected Cars Driving Automotive Software Market?
Owing to urbanization, the demand for connected cars has increased significantly over the past few years. Take for instance the connected car market, which reached a value of about $72.5 billion in 2019. The demand for these cars is major increasing because of the surging concerns regarding security and safety, introduction of IoT in the automotive industry, and need for improved driving experience. IoT provides a number of advanced connectivity solutions and infotainment services for drivers.
Ascribed to this rising demand for connected cars, the automotive software market is registering significant growth as well. Automotive software include a number of requirements, such as cyber security, safety, performance, usability, and adaptability. It cover a wide array of applications from embedded real-time firmware to secured cloud solutions. The introduction of advanced technologies for improved user interface is also a major factor that is leading to the growing need for automotive software.
The global automotive software market is predicted to reach a value of $78,894.2 million by 2030, increasing from $28,214.6 million in 2016, advancing at a 12.4% CAGR during the forecast period (2020–2030). On the basis of software, the market is divided into OS and middleware, ADAS and autonomous driving (AD), body & energy, infotainment, connectivity, security, & connected services, and powertrain & chassis. Out of these, the ADAS and AD division accounted for the largest share of the market in the past.
Technologies such as automatic braking, lane assist, and ADAS considerably improve the driving experience, thereby making it safer than ever. These technologies further aid in decreasing traffic rule violations, which, in turn, leads to decline in the road accidents and improvement of the driver experience. Moreover, various companies are taking up R&D activities for deploying autonomous car that are majorly dependent on this software. These efforts for deploying ADAS and AD is positively impacting the market.
Geographically, the Asia-Pacific region held the major share of the automotive software market during the historical period (2014–2019), according to a P&S Intelligence report. The region is the major market for vehicles, along with which, the advancing economy and increasing purchasing power of customers is leading to growing need for advanced features in vehicles. The rising integration of advanced application, including auto-park assist, human-machine interface, and keyless entry, are creating need for automotive software in the region.
Why Cost Cutting Measures Are Driving Popularity of Ride-Hailing?
Till a little while ago, owning a car was considered an indicator of people’s economic status, and it still is in most of the countries. But with everything, from car and diesel/gasoline to insurance and regular maintenance, costing more now, many are shunning the idea of buying a car themselves and opting for shared mobility.However, people still want the comfort offered by a personal vehicle and, therefore, many avoid the crowded public transport. Thankfully, with smartphones equipped with internet connectivity, people can call cabs right to them, any time they want.
P&S Intelligence cites all these advantages while proclaiming that the worldwide ride-hailing market will grow from $50.4 billion in 2018 to $120.2 billion by 2024, at a CAGR of 13.0% between 2019 and 2024. Ride-hailing is the technical name of the transportation services offered by well-known companies such as Uber and Ola. It is where people book a cab via the mobile app of the company, and the driver takes them to their destination at their request. This is different from ride-sharing, where the cab has a fixed route, and it picks up more than one passenger on the way.
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One of the biggest reasons ride-hailing services are easily available is the government support being offered to service providers. Since this concept has the promise of reducing the number of personal cars on the roads, its successful implementation will not only reduce road traffic and leave more space for pedestrians, but also make the environment cleaner. More the personal cars on roads, more is the diesel/gasoline burnt, and higher is the amount of greenhouse gases discharged into the atmosphere.
With the increasing popularity of the concept, a shift is being witnessed in the commuting pattern. Till a little while ago, most people used these services occasionally, such as for visiting a relative or traveling to and from the railway station or airport. This is also why personal usage of ride-hailing services is higher than for business purposes. Now, the number of daily/weekly commuters using ride-hailing services is rising rapidly. This is because such shared mobility service providers are tying up with corporate houses and business to offer employees convenient commute between the office and home.
To cash in on the rising popularity of the concept, automakers are entering into partnerships with ride-hailing companies. For instance, in 2019, HyundaiMotor Company announced its intentions to provide Ola Cabs with electric vehicles (EVs) by 2021, for its operations in India. With EVs, the operational cost for service providers comes down significantly, as electricity is way cheaper than diesel and gasoline. Moreover, governments around the world are actively promoting the usage of EVs to reduce the harmful impact of fossil fuel burning on the environment.
Reefer Container Market Size and Growth Insights
With the increasing burden of diseases around the world, the demand for various pharmaceutical products, including vaccines, liquid medicines, biologics, pills, and raw materials and active ingredients, has risen. This factor is expected to help increase the global reefer container market size from 3,169.2 thousand twenty-foot equivalent units (TEU) in 2019 to 7,063.3 thousand TEUs by 2030, at an 8.0% CAGR between 2020 and 2030, according to the market research study published by P&S Intelligence.
This is because pharmaceuticals are extremely sensitive to temperature, which is why they need to be transported in refrigerated, or reefer, containers. In this regard, the improvements in the reefer technology and decrease in the cost of shipping are acting as key reefer container market drivers, by encouraging companies to send higher volumes of products via the sea. For instance, compared to just 5% in 2012, AstraZeneca plc was transporting almost 70% of its products via the sea in 2017.
Key Findings of Global Reefer Container Market
• Logistics companies prefer more-than-40-foot reefer containers
• Food products transported in highest volumes in reefer containers
• APAC is largest user of reefer containers, with trade routes redirecting toward it
• Growing pharmaceutical demand to propel market growth in future
• Presence of large established players making market consolidated
• LATAM to offer lucrative growth opportunities to containers manufacturers and lessors
During the COVID-19 pandemic, though the global demand for drugs has increased, the reefer container market has been negatively affected. Due to a reduction in the workforce as an infection prevention measure, port operations were severely hampered. Additionally, the demand for a large number of non-essential products declined massively, which led to significant losses for logistics companies. This is why they spent considerably lesser on buying and leasing reefer containers in 2020.
In the past, the food category dominated the reefer container market, under segmentation by industry. With the growing population pushing up the demand for food, the use of reefer containers to transport them over long distances is rising. This is because most of the food products, including fruits, vegetables, dairy, meats, seafood, and poultry, need to be shipped at sub-zero temperatures to prevent spoilage.
Increasing Environmental Concerns Pushing the Demand for E- Buses
The electric bus market will experience significant growth in the years to come. The main factors accountable for the industrial growth include the increasing ecological apprehensions because of GHG emissions, decreasing cost and improving the working efficiency of batteries, and lasting cost aids of e-buses.
Battery electric buses had the highest demand in the recent past, and they will dominate the industry of electric buses in the future as well. This will be because of the growing support of the government like incentives, subsidies, and further monetary benefits, to endorse their acceptance. In addition, major makers are concentrating on the addition of BEBs to their portfolios, which is boosting the sales of these alternates over the world even more.
The North American electric bus market will observe the fastest growth in the future, because of the stringent emission norms. The U.S. has larger demand for BEBs, plug-in hybrid e- buses, and hybrid electric buses. In addition, the grants, financial incentives, and tax credits by the federal and state administrations pushed the sales of electric bus sales in the U.S. recently. Various other initiatives have also been initiated by the federal government to inspire the acceptance of e-buses, like toll charges exemption and, emission tests.
Progressions in instrumentation and actuation and sensing technologies led to the advent of automatic and semi-automatic transportation systems. Autonomous buses have features like light detection and ranging, odometer, GPS, and computer-aided vision, which help in perceiving the environs. Autonomous driving has become popular in the industry of e-bus because the technology offers improved efficiency and reduced costs. Due to all these benefits, OEMs like Navya SAS, Easy Mile SAS, AB Volvo, and SB Drive, are accepting automatic driving and working on developing autonomous bus shuttles.
Experts say that the average cost of Li-ion battery packs for large orders decreased from around $600 kWh in 2015 to around $150/kWh in the year 2020. As the battery is around 40% of the manufacturing cost of an e-bus, any decline in the price of the battery would help OEMs cut down the cost of the vehicles, therefore increasing their sales.
Due to growing environmental concerns, and the constantly declining prices of the batteries, the requirement for e-buses is on a constant rise.
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