Rise of On-demand Transportation Market | A Survey and Future Analysis by TMR

On-demand transportation is an internet-based service that is used to book means of transportation in return of money, based on the time and distance it is used for. Various types of vehicles, such as passenger vehicles or commercial vehicles, can be booked or reserved through on-demand transportation services as per the requirement of the consumer. Moreover, the service is highly popular in urban areas, owing to high digitalization and high dependency on internet-based services.

The market for on-demand transportation services is primarily driven by the lower middle class population owing to its low per capita income. Moreover, the market is expanding significantly in developing nations such as China and India. On-demand transportation services provide short-term ownership to consumers at significantly lower prices and hence, consumers prefer such transportation means instead of owning a vehicle. A privately owned vehicle is only utilized for up to 5% of its total life; it remains parked for 95% of its life in most cases.

Considering this, several vehicle owners are readily sharing their vehicles. Increase in number of vehicle owners has led to increased traffic congestion and rise in global emission levels. Consequently, governing bodies are promoting alternative fuel powered vehicles and alternative modes of transportation that emit less to zero-emission. On-demand transportation services are effectively capable of reducing the number of vehicle owners and hence, governing bodies are implementing regulations in favor of shared mobility services.

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Consumers who do not own a vehicle prefer on-demand mobility services. Increasing tourism and working class population coupled with rising trend of road trips is fueling the on-demand transportation market significantly. Developments by software companies to make the mobile phone-based applications faster and user friendly have played a vital role in promoting on-demand transportation services.

Incorporation of electric and autonomous vehicles is likely to reduce the cost of on-demand transportation services. Electric vehicles reduce fuel expenses, which reduces the overall cost of utilizing mobility sharing services, such as ride sharing and ride sourcing. This, in turn, is likely to fuel the demand for on-demand services across the globe. Autonomous vehicles are expected to eliminate the driver and subsequently, expenses over the driver. Lower number of vehicles per capita across several nations is fueling the demand for on-demand transportation services, which in turn is likely to offer lucrative opportunities to the global on-demand transportation market. Forward integration of vehicle manufacturers in the on-demand transportation service market is likely to offer considerable opportunities and propel the market.

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Shared Mobility Market Will Change the Future of Automotive Industry | Review by TMR

Shared mobility is a type of service in which a vehicle is shared based on the time and distance it is used in return for money. In shared mobility, a vehicle owner or the owner of a large fleet provides the vehicle on a rental basis to consumers and other companies. Shared mobility comprises sharing a car, a ride, a two-wheeler, and sharing trucks and buses.

Key driver of the global shared mobility market is low per capita income of people in developing nations. Shared mobility services provide short-term ownership to consumers at a significantly lower price, and hence, consumers prefer shared vehicles instead of owning one. A vehicle, if not shared, is only utilized for up to 5% of its total life; it remains parked for 95% of its life. Considering this, several vehicle owners are readily sharing their vehicles. Increase in number of vehicle owners has led to increased traffic congestion and rise in global emission levels.

Consequently, governing bodies are promoting alternative fuel powered vehicles and alternative modes of transportation that are capable of limiting the global temperature rise. Shared mobility services are effectively capable of reducing the number of vehicle owners and hence, governing bodies are implementing regulations in favor of shared mobility services.

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Consumers who do not own a vehicle are preferring a shared vehicle, as a shared vehicle provides vehicle ownership without having to invest in owning one, which is further compounded by the increased interest rates on vehicle loans. Increased tourism, rise in number of family outings, and raised per capita income are fueling the demand for shared mobility services. Increase in number of working class people is prominently fueling the demand for shared mobility services across the globe. 

Availability of faster internet connectivity, increased mobile ownership, availability of mobility sharing apps, and increased consumer awareness are fueling the global shared mobility market.

Incorporation of electric and autonomous vehicles is likely to reduce the cost of shared mobility services. Electric vehicles reduce fuel expenses, which reduces the overall cost of utilizing mobility sharing services, such as ride sharing and ride sourcing. This, in turn, is likely to fuel the demand for such on-demand services across the globe. Autonomous vehicles are expected to eliminate the driver and subsequently, expenses over the driver. Lower number of vehicles per capita across several nations is fueling the demand for shared mobility services, which in turn is likely to offer lucrative opportunities to the global shared mobility market. Forward integration of vehicle manufacturers in the shared mobility market is likely to offer considerable opportunities to the market.

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Paper Straws Market to be the Fastest Growing Industry by 2026

Transparency Market Research delivers vital insights on the paper straws market in its report titled “Global Industry Analysis, Size, Share, Growth, Trends, Historical Analysis 2013-2018 and Forecast 2019-2027.” In terms of value, the global paper straws market is projected to expand at a CAGR of 13.8% during the forecast period.

Paper straws are single-use disposable products manufactured from raw materials such as virgin kraft pulp and recycle paper. Due to its compostable, biodegradable, and recyclable nature paper is one of the best alternatives to plastic. In the report, TMR proposes that the foodservice end-use segment is expected to drive the paper straws market during the forecast period. The increasing number of food outlets across the globe is boosting the growth of the foodservice industry substantially. Besides, the rising demand for eco-friendly foodservice disposables is likely to offer enormous growth opportunities for the global paper straws market during the forecast period.

Governments Supporting Sustainable Drives by Introducing Reforms Favorable for Non-Plastic Goods

North America is a significant shareholder of the global paper straws market and is expected to expand with a noteworthy CAGR during the forecast period. Due to the saturation of plastic waste, and the subsequent harm to the environment, the US. government has taken an initiative to ban the usage of single-use plastic straws. Also, the consumer demand for eco-friendly straws, which are hygienic and single-use, is expected to drive the growth of the paper straws market during the forecast period. The US is expected to be highly attractive in terms of market share and growth rate of paper straws during the forecast period, owing to a vast consumer base and robust growth of the foodservice industry.

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Increasing government reforms and campaigns to ditch plastic straws and the rising awareness among consumers regarding its environmental impact are likely to generate substantial growth opportunities for paper straws during the forecast period. Also, initiatives of various brands to ban plastic straws in Europe, such as Marriott UK, Starbucks, and others are expected to push the growth of the paper straws market during the forecast period. U.K and Germany are together expected to hold more than 1/3rd of the European market share by the end of the forecast period. Overall, the European paper straws market is anticipated to expand with a notable CAGR during the forecast period.

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Compliance for Medical Kits at Workplaces is Expected to Create a Lucrative Opportunity for the First Aid Kit Packaging Market

Transparency Market Research provides key insights on the first aid kit packaging market in its published report, “First Aid Kit Packaging Market: Global Industry Analysis, 2013 – 2018 & Opportunity Assessment, 2019 – 2027.” In terms of market value, the global first aid kit packaging market is estimated to expand at a CAGR of 4.0% over the forecast period, owing to numerous factors, about which TMR delivers thorough insights and forecasts in this report.

First aid kit packaging is used as a unitizing container for first aid accessories or supplies which are necessary during medical emergencies that occur at workplaces, while travelling, or during sporting. First aid kit packaging is made up of plastic, metal, glass, or fabric (cotton). First aid kit packaging finds applications in various industries such as building and construction, offices, military services, automotive, sports and adventures, household, and manufacturing industries. First aid kit packaging is designed on the basis of portability and mounting requirements.

The global market for first aid kit packaging has been segmented on the basis of material, product, packaging type, and end-user base.

The demand for first aid kit packaging increases due to the need for different packaging formats at economic costs. Country-wise regulations and compliance standards are acting as drivers in material-level and product-level developments in the first aid kit packaging market.

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This report evaluates the trends that are fueling the growth of each market segment on the worldwide level and provides potential takeaways that are beneficial for potential market entrants in the first aid kit packaging market.

The North American first aid kit packaging market includes a country-level analysis for the United States and Canada. Canada is projected to witness a sluggish growth rate as compared to the United States first aid kit packaging market. The automotive industry is anticipated to be the largest consumer of first aid kit packaging owing to stringent compliance from government authorities.

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Data Protection as a Service (DPaaS) Market – Growing Number of Cyber Security Threats Globally Driving the Market

The global data protection as a service (DPaaS) market was valued at US$ 6,716.8 Mn in 2017 and is expected to expand at a CAGR of 30.7% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Data Protection as a Service (DPaaS)Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” North America is expected to hold the dominant revenue share, with the market in the region expanding at a CAGR of above 25%. The global Data Protection as a Service (DPaaS) market is mainly driven by growing stringent government regulations for IT security and digitization within enterprises.

Growing stringent government regulationsand growing number of cyber security threats globally driving the market

With the growing popularity and adoption of cloud computing services, organizations of all sizes are looking to grab advanced cloud features in order to deliver highly scalable solutions and manage their operations. The rising demand for cost effectiveness and disaster recovery are currently identified as the key reasons for the growth of the DPaaS market across the globe. Additionally, demand for cloud computing services, such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) is paving the way for the DPaaS market.

The global Data Protection as a Service (DPaaS) market is currently challenged by the lack of appropriate security tools and budget constraints for cloud users. Many organizations willing to back up their processes and systems on the cloud in the event of a disaster are faced with the complexities of doing so. The existing IT/system infrastructure of organizations is too complex to be replicated onto the cloud and at later stages, becomes too difficult to be retrieved.

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Growing adoption of hybrid cloud solutions playing a crucial role in the expansion of the market

The Data Protection as a Service (DPaaS) market can be segmented based on deployment model, services, enterprise size, industry, and region. The deployment model segment is classified into public cloud, private cloud, and hybrid cloud. The services segment includes Disaster Recovery as a Service (DRaaS), Backup as a Service (BaaS), and Storage as a Service (STaaS). The enterprise segment includes large enterprises and small & medium enterprises (SMEs). The industry segment includes BFSI, Telecom & IT, government & public sector, healthcare, retail, energy & utilities, manufacturing, and others (aerospace & defense, travel & hospitality). Hybrid cloud is predicted to be the fastest growing segment of the DPaaS market. The segment is expected to emerge as a key milestone on the roadmap of IT as more enterprises plan to make it a part of their IT strategy.

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Automotive Cup Holder Market – Future Trends and Analysis by TMR

Globalization has transformed the automotive industry throughout the globe, with continuously heaving competition amongst automotive vendors. Development of automotive cup holder is one of the important innovations because of the growing consumption of beverages while driving which have ensued in the automotive industry, in recent years.

Various automotive cup holder designers have provided technologies and styles to hold the beverages, but at high speeds and tough roads, it is difficult to keep the beverages from spilling out. One of the latest technologies used by Maksimatic in the automotive cup holder market was to provide a 360-degree spinning cup holders which can adjust according to the road settings. Apart from providing a spin to the cover, this technology also provides a spin to the liquid inside which keeps it away from falling. 

This technology was tested and gained popularity among the consumers. Apart from providing a spill free holder consumers are also looking for the temperature control automotive cup holder which keep their drinks hot or cold as per the requirement. This is achieved by using certain thermostatic materials at the bottom which are used in the thermos, and they maintain the required temperature.

Accessories in automobiles are essential nowadays. It is important for designers to put their efforts on the interiors of the automobiles, as the consumers have started spending their money for comfort and efficiency. Automotive cup holder market has started gaining popularity because of the growing consumers, and their need of holding their beverages in the vehicles.

Automotive cup holder seems like a simple accessory in the automobiles, but the technology and the ideas used for providing a spill free cup holder is difficult. Due to the growing urbanization people have started taking decisions on buying automobiles not only on the basis of speed and fuel efficiency but also by the looks, interiors, accessories and the technologies which are provided in the automobile. The automobile cup holder market is expected to grow with a decent CAGR in the forecast period.

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The automotive cup holder market is driven by the looks and the comfort it provides to the consumers. Customers are looking for innovative designs and colors with the technologies incorporated to make automotive cup holder. Automobiles have started providing various automotive cup holders which have gained customers interest in buying those vehicles.

There are few big companies which still believe that automotive cup holder should not be incorporated in the automobiles as the drivers may lose their control and accidents may happen. One such company is Ferrari which believes that they provide such high speeds to the customers in which the driver’s concentration should be on the wheels, and there is no need of adding cup holders in their vehicles, which is a challenge faced by manufacturers in the automotive cup holder market.

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Automotive Grille illumination Market – Emerging Players, Sourcing Strategy and Downstream Buyers To 2025

The rising consumption of automobiles and the changing lifestyle of consumers have increased the market share of car accessories resulting in an increase in the automotive grille illumination market. Primary function of the grille is to provide a gateway for air to maintain an absolute temperature of vehicles. Apart from its function of being a coolant, look of automobiles also plays an important role from the consumer’s point of view. As automotive grille illumination structures are applied in the front of every vehicle, so they are designed in such a way that enhances the exteriors of the automobiles.

Automotive grille illumination market is expected to grow with a high CAGR in future because of the kind of style statement it provides apart from its principle operation of letting air inside to maintain the temperature of the vehicle.

Many big brands have used automotive grilles by putting their brand names on it. For example, Jeep has a 7 bar grille style, Rolls Royce grilles are hand designed with such precision that they appear perfectly vertical. Mercedes Benz is known for its famous star sign which is applied on the grille with a LED on the edges which glows. Porsche which is a big manufacturer of air cooled cars has minimized the importance of grilles and are keeping with their heritage.

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The pattern and orientation of bars in the grilles are different. Some cars have horizontally or vertically oriented bars while others have the cross-hatched bars pattern. Custom made grilles are also available depending on the choice and demand of the customers.

Increasing demand for the automobile accessories, growing consumer spending on these products and rising vehicle consumption in the younger generation are the key drivers in increasing the growth of automotive grille illumination products.

The growth of the automobile industry and the increase in the sales of passenger cars, trucks, etc. are further likely to increase resulting in developing opportunities for the automotive grille illumination manufacturers.

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The biggest challenge of automotive grille illumination market is the availability of inferior products especially in the Asian regions which has hampered the growth of automobile grille illumination market. Also, cheap alternatives are available in the automotive grille illumination market. People having low disposable income are not willing to spend more on the vehicle accessories, such as automotive grille illumination. This has been the biggest restraint of the automotive grille illumination market.

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