Automotive Electronic Power Steering Market - Worldwide Growth Survey size COVID-19 2022

The global automotive electronic power steering (EPS) market is prognosticated to gain a strong boost in demand on the back of special features such as precision turning and reduction in the use of power, which could not be offered by traditional steering. Moreover, automotive EPS systems could help improve the driving experience and fuel efficiency. Previously, the automotive EPS technology was only implemented in sport utility vehicles (SUVs) and advanced automobiles. However, with the increased dependency on automotive EPS, this technology now finds application in almost all classifications of automobiles.

Transparency Market Research envisages the global automotive EPS market to rise at a 5.9% CAGR during the forecast timeframe 2017–2022. By the concluding forecast year, the market could bag in a US$33.1 bn, which is a telling progress from a US$24.8 bn achieved in 2017.

Global Automotive Electronic Power Steering Market: Major Insights

One of the top growth factors of the world automotive EPS market could be several automotive firms concentrating on research and development activities. It could be said that the market is mainly reliant on the automobile manufacturing industry. Rising competition to manufacture auto-pilot enabled or self-driven and electric automobiles is envisioned to promote the snowballing of the demand for automotive EPS. The development of EPS with no direct connection of links could be a growing trend in the market. Furthermore, the emergence of robust and sophisticated steering mechanism is foretold to augur well for market growth.

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After a decisive and an in-depth analysis of the world automotive EPS market, the analysts foresee the presence of four products to make a significant difference, viz. column-assist (C)-EPS, pinion-assist (P)-EPS, rack-assist (R)-EPS, and hydraulic (H)-EPS. However, H-EPS could take the lead in the market while rising at a 4.9% CAGR. In terms of vehicle, heavy commercial vehicles, light commercial vehicles, luxury passenger cars, premium passenger cars, mid-sized passenger cars, and compact passenger cars could be the major markets for automotive EPS.

Geographically, the world automotive EPS market could witness Europe as a superior region riding on a 26.3% share to be attained by the end of 2017. Asia Pacific except Japan (APEJ) is predicted to post an impressive CAGR of 6.4%. Other regions such as North America could also contribute handsomely toward the growth of the market.

Global Automotive Electronic Power Steering Market: Vendor Landscape

The international automotive EPS market is anticipated to feature the presence of a significant count of global and some regional players. Buyers of the publication would be exposed to a key and comprehensive analysis of top companies such as Sona Koyo, Hitachi Automotive, ThyssenKrupp Presta, Showa, and KSR International Company. The market could exhibit a high competitive scenario for the next few years.

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With a view to expand their presence in the market, players are expected to take to swelling investments in research and development activities and enlarging their clientele base. A large count of original equipment manufacturers (OEMs) could be focusing on long-term collaborations with players in order to effectively manage the quality and cost of the materials engaged.

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Driver Safety Systems Market - Trends & Leading Players 2022

Players within the global driver safety systems market are striving to develop advanced systems in order to gain a competitive edge above the others. Leading players with in the market are developing Innovative features in order to maintain their positions in the market, says Transparency Market Research (TMR) in its latest research report on this market. An increasing number of market players are focusing their efforts on introducing advanced yet inexpensive driver assistance technologies. Some of the leading players within the global driver safety systems market are: Magna International Inc., Continental AG, Robert Bosch GmbH, Seeing Machines, Smart Eye AB, Valeo S.A., Denso Corporation, and Infineon Technologies AG.

According to the report, the global driver safety systems Market is anticipated to rise from US$1,921.3 Mn in 2017 to reach US$2,750.0 by the end of 2022. The market is anticipated to expand at a CAGR of 7.4% from 2017 to 2022. On the basis of technology, the global driver safety systems market is segmented into facial expressions, steering angle sensor, heart rate monitoring, eye tracking, and lane departure system. Of these, the eye tracking segment is anticipated to enjoy higher demand among car buyers. This segment was valued at US$ 456.6 Mn and accounted for 23.8% of the total market in 2017. The eye tracking segment is anticipated to exhibit and 8.1% CAGR between 2017 and 2022 and account for 24.5% of the total market by 2022. 

On the basis of geography, it is anticipated that Asia Pacific excluding Japan APEJ will hold the maximum share of the market. The APEJ segment will expand at an 8.4% CAGR from 2017 to 2022. It is anticipated to gain 138 basis point market share by 2022. The market's growth in Asia Pacific excluding Japan is attributed to the adoption of driver safety systems in passenger cars. The high demand from emerging economies in Asia Pacific excluding Japan his behind the leading status of this region within the driver safety systems market.

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Increasing Demand For Convenience And Rising Number Of Road Accidents Driving Market

Rising demand for convenience and passenger safety along with driver safety has led to the growth of the global driver safety systems market. The rising adoption of advanced driver assistance systems has led to a rise in the adoption of driver safety systems in compare, commercial, and mid-sized vehicles, and all types of cars. This market is also boosted by various initiatives taken by government for the improvement of safety of passengers as well as for the reduction of road accidents. Car makers are thus pressurized to adopt and implement driver safety systems on account of the growing focus of the government with regards to the safety of drivers and passengers. 

Increasing Popularity of Advanced Driver Assistance Systems Aiding Market's Growth

The rising trend of driver safety systems equipped with functionalities such as steering angle sensor, lane departure warning, heart rate monitoring, and blind spot warning are helping drive the market. The growing popularity and demand for advanced driver assistance systems (ADAS) as one of the aftermarket  solutions is also a driving factor for the global driver safety systems market. In passenger cars, there is an increasing demand for distraction monitoring systems  in both developed and developing nations, which in turn bodes well for the global driver safety systems market. This market is expected to receive an impetus from an increasing number of premium and luxury cars adopting driver safety systems in both compact and midsize vehicles in both developed and developing nations, said a TMR analyst.

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Vehicle Access Systems Market - Survey on Future Scope size COVID-19 2027

• Rise in penetration of global vehicle access systems is attributed to an increase in technological advances in vehicle security systems, which enable drivers to lock/unlock and start/stop the vehicle remotely
• The purpose of access system is to grant entrance/leave from a commercial or residential building or toll gates only to authorized vehicles. The vehicle access control system is remotely connected to the access control unit of a commercial or residential building, which verifies the pre-registered vehicle license plate or an access card to determine whether the vehicle is authorized to enter the premises.

Key drivers of global vehicle access systems market

• Data regulations enacted across diverse industries including health care, banking, and insurance and demand for safety are boosting the demand for vehicle access systems globally systems. In case of a robbery or an accident, to identify the vehicle involved, a vehicle monitoring system is required. Information about vehicles entering or exiting buildings such as bank and hospital premises is recorded using the vehicle access system in order to monitor and increase the safety of these buildings. This system records data of a vehicle, such as license plate, which can be used to trace a vehicle in case of theft/robbery.

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Advancements in vehicle remote keyless access technologies is likely to fuel the global vehicle access systems market. For instance, both Robert Bosch GmbH and Continental AG have developed a cloud-based vehicle access system that enables a vehicle owner to lock/unlock and start/stop his vehicle without the need for a key. Such developments in vehicle access control systems based on cloud technology, mobile smartphones and tablets, and IoT devices are fueling the adoption of vehicle access systems, which in turn is driving the global market.

Passive vehicle access system segment to hold notable share of global vehicle access systems market

• The passive vehicle access system segment is estimated to account for a significant share of the global vehicle access system market. The system utilizes automotive sensors, dash cams, and Application Program Interface (API), which are efficient and cost-effective. The above mentioned sensors and dash cams are relatively simple to use and are being incorporated in several applications, including passive vehicle access entry, enabling automakers to easily integrate them in their vehicles.

Lack of vehicle standards for vehicle access control system to hamper global vehicle access systems market

• Automakers are focusing more on enhancing security and safety of vehicles in order to cater to a rise in consumer demand for safer and secure vehicles. The factor mentioned above drives the global market for vehicle access systems; however, lack of stringent global regulations and vehicle standards is still a challenge for automakers. Absence of such standards fails to guarantee the life of vehicle access systems. This, in turn, may lead to a threatening situation for vehicle owners in case the vehicle access systems fails and a customers is locked in/out of the vehicle. Therefore, regulations and standards for vehicle access systems are essential to prevent such situations.

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 Europe to hold prominent share of global vehicle access systems market

• Increase in demand for luxury cars in countries such as Germany, France, and Russia in Europe is boosting the market in the region. For instance, in 2018, Volkswagen and BMW sold 541,200 and 319,134 units of luxury vehicles, respectively, in Germany, which accounted for approximately 18% and 2.5% rise in sales, respectively, as compared to sales of 531,600 and 311,071 units of luxury vehicles, respectively, in 2017. Furthermore, presence of automotive giants, such as Robert Bosch GmbH, Continental AG, in the manufacture of vehicle access control system is likely to drive the vehicle access systems market in Europe.

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Automotive Backup Cameras Market - Sophisticated Demand & Key Performers

• Rise in demand for reduction in vehicle crashes has prompted automakers to increasingly adopt automotive backup cameras in their vehicles, which in turn is driving the global automotive backup camera market. As per National Highway Safety Transportation Agency (NHTSA), around 15,000 injuries and 210 fatalities occur from vehicle backup accidents every year. This has resulted in enactment of regulations that make installation of backup cameras mandatory in vehicles, which in turn is also driving the global automotive backup cameras market.

Key drivers of global automotive backup cameras market

• Regulations enacted by government authorities and regulatory bodies are mandating vehicle manufacturers to install rearview imaging technology in their vehicles, which fuels the demand for automotive rearview backup camera systems. For instance, National Highway Traffic Safety Administration (NHSTA), USA requires all vehicles manufactured post May 1, 2018 to install a rearview camera that can show 10X20 feet area in the rear of the vehicle. The HUD display in the vehicle displays a virtual grid on screen using the image sensors incorporated in backup cameras. These grids enable the vehicle driver to backup without endangering vehicle safety.

• Several companies have developed dual backup camera systems that incorporate both front view and rearview backup cameras in a single system. For instance, Toguard Electronics Co. has developed a dual backup camera system. Both rear and front cameras have different resolutions and dual lens systems with parking guidelines to help the vehicle driver while parking.

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Rise in demand for comfort and luxury in vehicles is driving the global automotive backup cameras market. Automakers have started providing luxury features including automotive backup cameras in their lower end model as well in order to have a competitive edge and increase the number of vehicle sales. For instance, Chevrolet Trax, Chevrolet Colorado, Mazda MAZDA3, and Toyota Corolla have pre-installed backup cameras. Therefore, increasing adoption of backup cameras by automakers is expected to drive the global automotive backup cameras market.

Passenger vehicle segment to account for significant share of global automotive backup cameras market

• Demand for passenger vehicles was higher than that for commercial vehicles in 2019, which in turn led to higher sales of passenger vehicle. Furthermore, a rise in preference toward vehicle security features is prompting automakers to install safety systems in vehicles. Automotive backup cameras enable vehicles to record videos continuously, which can be used to identify vehicle theft and vehicles involved in crashes.
• Backup cameras installed at the rear ends can guide the vehicle driver while parking the vehicle in reverse. All these factors boost the demand for automotive back up cameras and subsequently, drive the global market for automotive cameras.

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Asia Pacific to dominate global automotive backup cameras market

• Japan, China, and India in Asia Pacific have presence of major automakers and aftermarket players in the automotive industry. Therefore, the region witnesses intense competition among automakers and aftermarket players. Demand for safety systems in vehicles, such as automotive backup cameras that help drivers to maneuver in the reverse direction and reduce vehicle crashes, is rising.
• Legislations enacted by various governments of various countries and organizations in Asia Pacific are mandating automakers to increase integration of safety features in their vehicles. For instance, SIAM India mandates automakers in India to install safety systems in their vehicles. This, in turn, fuels the demand for automotive backup cameras. All the factors mentioned above are driving global automotive backup cameras market in Asia Pacific.

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Automotive Plugs Market Revolutionary Trends

• Rising use of electrical components and systems in vehicles, attributed to increasing demand for comfort and luxury, enhanced vehicle performance, and utility features, is a key driver of the automotive plugs market
• Automotive plug, or male pin connector, is part of an automotive connector that engages with a socket or female connector. It is utilized in the vehicle to connect electrical terminals of several electrical systems by engaging with the socket of another electrical terminal/ system.

Key drivers of global automotive plugs market

• Rising concern for occupant safety in a vehicle in conjunction with safety-oriented government initiatives is driving the demand for a reliable automotive plug to connect various vehicle systems. For instance, government regulations compel automakers to incorporate seat belts and airbags in a vehicle. These safety systems require a connection system consisting of a retainer and safety restraint system connector, which is achieved through automotive plugs. Therefore, increasing demand for automotive plugs is directly influenced by increasing adoption of automotive safety systems, which in turn is driving the global automotive plugs market.

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Increasing demand for vehicle comfort and utility systems is anticipated to increase the adoption of power windows, power mirrors, HVAC, and comfort actuators. These systems are connected to ECUs, MCUs and various ICs through vehicle body electronics by using automotive plugs. Thus, increase in demand for vehicle comfort and utility fuels the demand for automotive plugs, which in turn, propels the global automotive plugs market.

Concerns for functional reliability and durability of automotive plugs to hinder global automotive plugs market

• Sealed automotive plugs are placed under the hood of automobiles, while unsealed automotive plugs are placed in the vehicle cabin. Sealed plugs must have the capacity to withstand engine shocks as well as high and very low temperatures. Therefore, the global automotive plugs market is anticipated to be hindered by functional reliability and durability concerns of automotive plugs.

Asia Pacific to dominate global automotive plugs market

• Major vehicle manufacturers including Tata Motors, Dongfeng Motors, Nissan Motors. KIA Motors, Suzuki Motors, Subaru Corporation, and Mahinda and Mahindra Motors are based in Asia Pacific. These automakers are consistently focusing on improvement in vehicle technologies and investment in research and development activities that are aimed at enhancing vehicle economy and vehicle performance.

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Furthermore, Japan, China, South Korea, and India are among the top consumers of two-wheeler and three-wheeler vehicles globally. Moreover, these countries have well-established supply chain and presence of aftermarket players in the automotive industry. Therefore, the region witnesses an intense competition among automakers and aftermarket players, which in driving the automotive plugs market. All the factors mentioned above are propelling the automotive plugs market in Asia Pacific.

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Handheld Marijuana Vaporizer Market - Snapshot on Global Benefits 2027

A recent report by Transparency Market Research States that the since the legalization of marijuana is several countries, the global handheld marijuana vaporizer market is growing exponentially. The popularity of the herb has a major hand in the progressive of the market states the experts at Transparency Market Research. According to their prediction, the global handheld marijuana vaporizer market is projected to witness a robust 23% in the duration of 2019 to 2027. Moreover the prescribed use of the herb for treatment of anxiety and depression is also a key factor driving the growth of the global handheld marijuana vaporizer market in the duration, says the report.

Legal Sale of the Herb Boosts the Growth

Ever since in 2013 when Uruguay first legalized marijuana, several countries are now following the same trait. Countries like Canada, Denmark, and various other countries have also or shall be soon legalizing the herb. This legalization of the herb has allowed the businesses to develop compact and cost effective vaporizers that can be used easily. These developments are some of the major reasons responsible for the growth of global handheld marijuana vaporizer market in the projected time frame.

Moreover, the growth in the number of people who are willing to get high on the vapors of marijuana is also a major factor that boosts the growth of handheld marijuana vaporizer market globally.

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Involvement of Celebrities to Boost the Market to Reach to US$ 25.7 Bn

Marijuana or “weed” is heavily supported by celebrities like Snoop Dogg and Laganja Estranja. The followers of the celebs follow not just their music and videos, but also their marijuana support. Based on the growth of the number of such followers, the demand for handheld marijuana vaporizers has grown exponentially in recent years. This growing demand is also a major factor that is boosting the growth of global handheld marijuana vaporizer market from 2019 to 2027.

Growth in the Prescription of Marijuana for Treatment of the Neurological Disorders

Marijuana is one of the best anti-depressant that is available in the market. Prior to legalization of the herb, people used to smoke weed just to get high and overcome their anxiety and depression. However, the excess use of the herb made them addict. Healthcare sector post the legalization of marijuana now prescribes a limited doze of the herb to cure the neurological disorders of patient. This development in in the healthcare sector is also a key factor driving the growth of global handheld marijuana vaporizer market from 2019 to 2027.

North America is the Most Lucrative Region

Persisting neurological disorders and hectic life schedule is now taking its toll on the people of the U.S. and Canada. Hence some part of U.S. the herb is now legal and can be brought from a medical store. Due to these reasons, the players of global handheld marijuana vaporizer market are focusing their business in North America. This makes the region as the most lucrative region for the players of global handheld marijuana vaporizer market in 2019 to 2027.

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Autonomous Material Handling Equipment Market Insights on Emerging Scope

• Autonomous material handling equipment is usually known as automated equipment, mainly employed for movement (lifting and placement) of discrete loads in a manufacturing unit or workstation. Many types of autonomous material handling equipment are offered for different operational applications including storage, assembly, waste handling, and distribution.
• Usage of autonomous material handling equipment is significantly increasing among various industries such as logistics, aerospace, and automotive, as organizing & managing the industrial unit or warehouse.

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Increasing demand for automated guided vehicles (AGVs) driving the global autonomous material handling equipment market

• Automated material handling vehicles are also known as automated guided vehicles (AGVs), which are used to relocate or transfer materials in warehouses or industrial units. Automated guided vehicles (AGV) are armed with a vehicle fleet management platform in order to deliver optimum productivity in automotive and manufacturing industries. In addition, an AGV fleet management software/platform is specifically designed for fleet, traffic, and further logistics purposes. The fleet management software/platform generally helps industries to enhance their operational efficiency and logistics flexibilities. AGV fleet management platform can reduce operational costs as well as the labor force for automotive and other manufacturers. It also enables industries to implement advanced material handling techniques and decrease waste incurred in industrial processes.
• Moreover, AGVs are majorly controlled and organized by advanced software, which is assimilated in vehicles and enables control and navigation of the vehicles. Additionally, various manufacturers or vendors are introducing mobile robots and vision guided vehicles to generate opportunities for the AGV fleet management software/platform. Automotive and manufacturing industries are emphasizing on increasing productivity and minimizing operational cost by employing automated guided vehicles (AGVs). This is expected to boost the growth of the autonomous material handling equipment market worldwide.

High initial investment expected to significantly hamper the autonomous material handling equipment market

• The primary or initial cost of installing and integrating autonomous material handling equipment is fairly high, that restricts the usage of these equipment in various industries. Therefore, high initial investment is significantly expected to hamper the autonomous material handling equipment market during the forecast period. However, introduction of new technologies and increasing spending in the automotive and manufacturing sector is expected to reduce the initial cost of automated material handling equipment in the future.

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North America to hold major share of the global autonomous material handling equipment market

• In terms of region, the global autonomous material handling equipment market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
• North America is anticipated to account for major share of the global autonomous material handling equipment market during the forecast period due to adoption of advanced manufacturing techniques and to minimize the waste incurred in the manufacturing process, specifically in the U.S. and Canada. Europe is estimated to be the second largest market for autonomous material handling equipment from 2019 to 2027, owing to an increase in investment and entry of leading automobile players, which is likely to help the growth of the autonomous material handling equipment market in the region.
• Asia Pacific is projected to be a rapidly expanding region of the global autonomous material handling equipment market during the forecast period owing to the increasing demand for automation and material handling equipment in distribution facilities and automobile assembly centers specifically in Singapore, China, India, Malaysia, South Korea etc., which is expected to increase the adoption of autonomous material handling equipment in the region.

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