Automotive Connected Services Market By Application, Types, Region And Business Growth Drivers By 2030

 

• Rise in demand for luxury features in a vehicle is expected to drive the global automotive connected services market. The trend toward connectivity in automobiles is a key factor driving rapid transformation of the automotive and mobility sectors.
• Expansion of the automotive connected services market is accompanied by the development of a wide range of new and innovative services making mobility safer, more comfortable, and more efficient

Key Drivers of Automotive Connected Services Market

• Increase in demand for safe vehicles across the globe is expected to be a key factor boosting the global automotive connected services market. Connected services include global positioning system (GPS), biometric lock/unlock of vehicle, and remote vehicle locking/unlocking offer modern safety features to a vehicle. Increase in demand for such features among passengers is compelling automakers to provide these features in their vehicles. Additionally, aftermarket players are providing retrofit of connected devices in existing vehicles at affordable costs.
• Connected devices in a vehicle enhance driving experience in a vehicle. Features such as navigation, streaming services, and smartphone integration offer comfortable driving experience to vehicle passengers. According to ‘Connected Vehicle Trend Radar 2’ research study conducted by Capgemini in 2019, the number of connected cars is projected to increase to 352 million by 2023, as compared to 119.4 million connected vehicles in 2018.
• Increase in trend toward sustainable and green technologies is expected to propel the global automotive connected services market. According to research conducted by Capgemini, 60% of overall respondents believed that connected services can have a positive impact on the environment. As per this research, in China specifically, 77% of people are willing to pay more for connected services, which are targeting sustainability, while in Europe, 42% of car owners are willing to change their car brand if they knew that other brands offered sustainable connected services.

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• Rise in trend towards electric vehicles coupled with stringent emission regulations enacted by government organizations on IC-engine vehicles is offering lucrative opportunity for the players engaged in the global automotive connected services market. Various automakers have equipped their vehicles with connected devices in order to attract more number of customers. All the factors mentioned above are expected to drive the global automotive connected services market.

Impact of COVID-19 Pandemic on Global Automotive Connected Services Market

• Disruptions in supply chain catering to the automobile industry, owing to the shutdown of production and manufacturing facilities caused by the coronavirus pandemic across the world, is estimated to contract the market in 2020-2021. Consequently, the coronavirus pandemic has hampered the global automotive connected services market.
• The market is anticipated to recover by increasing production volume of vehicle components as well as vehicles in 2021. This, in turn, is projected to offer lucrative opportunity to players operating in the supply chain of the automotive connected services market during the forecast period.

North America and Europe combined to Account for Prominent Share of Global Automotive Connected Services Market

• In terms of region, the global automotive connected services market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.

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• North America and Europe have presence of economically stable countries. These regions are home to technologically advanced research institutes catering to the development of vehicle safety and comfort technologies. Additionally, major automakers and aftermarket players have established their technological centers and manufacturing facilities in various countries in these regions including the U.S., Germany, the U.K., and France.
• The automotive connected services market in North America is expected to expand significantly owing to an increase in adoption of connected services in passenger and commercial vehicles due to stringent governmental regulations regarding road safety in the region
• Increase in awareness about green technologies in North America and Europe is expected to further drive the automotive connected services market in these regions.

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Automotive Comfort Actuators Market Growth Rate, Demands, Status And Application Forecast 2030

 

• An actuator is a component of a machine that is responsible for moving and controlling a mechanism or system through a control signal and a source of energy. Comfort actuators exemplify high quality and functionality, low noise emissions, compact and lightweight design, and flexible installation option.

Key Drivers of Automotive Comfort Actuators Market

• Comfort actuator offers an increase number of functions such as window lifting, seat adjustment, sunroof drives, steering column adjustment, drives for power tailgate at a low weight and low noise emission during operation. High level of comfort is a global trend in the automotive industry, and is one of the prior aspect of the automaker strategies in satisfying the customers. This trend is continuing to drive the automotive comfort actuators market.
• Mandatory installation of anti-lock braking systems (ABS) and electronic stability systems in the US and European countries has been the driver for the actuators market. While in India, Bharat New Vehicle Safety Assessment Program (BNVSAP) has come into effect on October 2017 in India. This will mandate ABS in passenger cars and thus drive demand for comfort actuators.

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Challenges in Automotive Comfort Actuators Market

• The recent outbreak of COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing and R&D operations, and consequently, hampered the automotive industry. Post first wave of COVID-19, global economies have started opening automotive manufacturing and supply chain operations, thus the COVID impact on the industry seems to have reached a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, the uncertainty in the automotive industry continues. A gradual recovery in the demand for automotive and ancillaries is anticipated in the next few months, despite concerns around risk of second wave of infection in several countries and other geopolitical risks.

Opportunities in Automotive Comfort Actuators Market

• Automotive industry is on its way to witnessing a fourth industry revolution; automation is being followed by the digitalization of production. The goal is to increase productivity, efficiency, speed, and quality, resulting in higher competitiveness for companies on their way to the future of industry. This is likely to create a growth opportunity for the comfort actuator market.

Asia-Pacific region to Dominant the Global Automotive Comfort Actuators

• Asia Pacific is will dominate the automotive comfort actuators market, triggered by increasing vehicle production in developing nations such as China and India. The major automakers have been increasing their focus on the Asia-Pacific region. Simultaneously small car market is very competitive and the market is gradually shifting upwards to premium car models. Therefore the developments taking place in the region will likely to augur well for the comfort actuators market and showcases prospects for the region to become a major hotspot for the automotive actuator component.

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Key Players Operating in Automotive Comfort Actuators Market

The Automotive Comfort Actuators Market is moderately consolidated. A few of the key players operating in the market are:

• Robert Bosch GmbH
• PIERBURG
• HELLA GmbH & Co. KGaA
• Denso Corporation
• Valeo
• Magneti Mareli

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Automotive Lambda Engine Sensor Market Revenue Insights to 2030

 

• Lambda engine sensor is designed to measure the amount of unburnt gases present in the exhaust pipe. The sensor transmits a signal to the electronic control unit (ECU), which adjusts the air-fuel mixture in the combustion engine. The lambda sensor, commonly known as oxygen sensor, helps detect whether the air-fuel mixture is lean or rich.
• In 1976, Robert Bosch GmbH introduced the first lambda sensor and from 1993, Europe mandated the use of lambda sensor in all gasoline vehicles

Key Drivers of Automotive Lambda Engine Sensor Market

• Rise in demand for high performance vehicles is offering opportunities to improve vehicle engine efficiency. Rise in disposable income and reduction in tax rates on passenger and commercial vehicles due to the coronavirus pandemic are prompting consumers to own vehicles. Furthermore, enactment of stringent rules and regulations by government authorities across the globe and rise in awareness about environment across the globe are compelling automakers to implement technologies to monitor vehicle emissions.

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• Rise in government initiatives to reduce vehicle emission across the globe is projected to propel the use of lambda sensor in vehicles, which in turn is likely to boost the automotive lambda engine sensor market in these regions. Increase in use of sensors in the vehicle is likely to prompt vehicle manufacturers to install lambda sensors in the vehicle exhaust system, which is anticipated to boost the automotive lambda engine sensor market across the globe.

Europe & Asia Pacific to hold significant share of global automotive lambda engine sensor market

• Europe is projected to account for a significant share of the global automotive lambda engine sensor market due to stringent rules and regulations regarding vehicle emission norms enacted across the region. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers who have major facilities that undertake research & development regarding the lambda engine sensor, which is likely to propel the automotive lambda engine sensor market across the globe.
• Followed by Europe, Asia Pacific is projected to account a significant share of the global automotive lambda engine sensor market due to an increase in sale of vehicles across the region. Rising demand for fuel-efficient vehicles across Asia Pacific is likely to drive the automotive lambda engine sensor market in the region.

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Key Players Operating in Automotive Lambda Engine Sensor Market

The global automotive lambda engine sensor market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the automotive lambda engine sensor market are:

• Robert Bosch GmbH
• Hyundai Mobis
• Delphi Automotive Plc
• Continental AG
• Denso Corporation
• Analog Devices Inc.
• General Electric
• Infineon Technologies Inc.
• ABB

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Automotive Decorative Control Panels Market To Observe Exponential Growth By 2020-2030

 

• Demand for stylish vehicle interiors among the population is expected to drive the global automotive control panel market. The control panel provides the driver with operational knowledge of various systems installed in the vehicle.
• An entry level passenger vehicle usually has a basic control panel, consisting of a speedometer, tachometer, fuel gauge, climate control, engine temperature gauge, and indicator lights. However, luxury vehicles, utility vehicles, and sports cars have high-end technologically advanced systems such as complex electronics, sensing systems, touch screen entertainment system, tire pressure monitor, and seat belt monitor.
• Control panels are an integral part of motorcycles, airplanes, ship, and boats, beside passenger and commercial vehicles. It is imperative on the part of the driver to know the operations of each control system on the panel; however, information regarding the use and functions of each of the operations is usually displayed on the control panel.

Key Drivers of Automotive Decorative Control Panels Market

• Rise in demand for luxurious features among consumers across the globe is expected to drive the global automotive decorative control panel market. Changing consumer lifestyles and increase in consumer disposable income are boosting investments in high-quality entertainment systems in vehicles. SUVs and sedans are witnessing increased installation of modern automotive control panels to enhance in-vehicle esthetics.
• Changing consumer lifestyles and shifting preference toward the usage of onboard infotainment systems in ride hailing services, such as Uber and Ola, are expected to provide lucrative opportunities for the automotive decorative control panels market. Customers in North America, Europe, and urban areas of Asia Pacific are utilizing onboard infotainment systems in public transport facilities to access information related to ride details and stream music during daily commute.

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• Increase in number of strategic collaborations between automakers and dashboard system manufacturers is further fueling the automotive decorative control panel market. Major automobile manufacturers including Bentley, BMW, Audi, and Mercedes-Benz are partnering with dashboard and infotainment system manufacturers to incorporate modern decorative control panels into new vehicles, thereby boosting the market.
• The OEM sales channel in the automotive decorative control panels market is expected to expand considerably in the next few years due to an increase in number of strategic collaborations of dashboard manufacturers with OEMs. Several automotive systems including seatbelts, ADAS, collision warning systems, and lane departure systems have different notifications that are displayed on control panels. Decorative control panels help the driver identify the meaning of different notifications in the vehicle. Therefore, a rise in the demand for in-vehicle automotive systems such as driver assistance systems in autonomous vehicles is fueling the adoption of advanced audio systems.
• Rise in demand for luxury and comfort vehicles is expected to drive the global automotive decorative control panels market. Automakers launch/ adopt new and latest vehicle features and advanced technologies in vehicles to attract more number of consumers. These factors mentioned above are expected to drive the global automotive decorative control panels market.

Automotive Decorative Control Panels Market: Challenges

• High initial cost is a major factor hindering the adoption of automotive decorative control panel. Expensive control panel increases the total cost of ownership of vehicles. These control panels are integrated with advanced components, such as sensors, and LED touch display, increasing the overall purchasing cost of the equipment.
• Consumers are highly inclined toward procuring essential consumer products such as groceries and healthcare products due to the spread of COVID-19. This has hampered the sales of automobiles, restricting the market in 2020 and posing several industry challenges.
• The automotive decorative control panels market is expected to witness a temporary slowdown in 2020 owing to the outbreak of COVID-19 pandemic across the globe. The sluggish expansion can be attributed to a decline in purchasing power of consumers.

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North America and Europe together to account for major share of automotive decorative control panels market

• In terms of region, the global automotive decorative control panels market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America and Europe, cumulatively, are expected to account for a major share of the global automotive decorative control panels market.
• High disposable income of the population and openness toward new technologies in these regions are propelling the automotive decorative control panels market. Rise in awareness about benefits of decorative control panel among consumers in countries across North America and Europe is further propelling the global automotive decorative control panels market in these regions.

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Smart Card Market Business Opportunity 2020 – Top Companies

The global smart card market stood at US$ 32.5 bn in 2018. Due to increasing technological changes, the market is expected to reach US$ 79.8 bn by the end of 2027. Due to consistent growth and increasing use of smart cards, this market is estimated to rise at a CAGR of 10.5% during the forecast tenure between 2019 and 2027.

Key players driving the global smart card market are NXP Semiconductors NV, Gemalto NV, Infineon Technologies AG, and Giesecke & Devrient (G&D) GmbH. These companies hold hold dominant share in the global smart card market. Some of the new entrants such as Watchdata and Eastcompeace Technology Co. Ltd. are making significant efforts to give a tough competition to the existing players in the market. New players are providing solutions based on consumer preference.

Global transaction value via digital payment method was above US$ 3 trillion in 2019. Moreover, age group between 15–34 also has a robust keenness for new technologies that has changed digital solutions from being a accessibility to an important part of how people transact. This is one of the key trend of the growth in smart card sales.

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In terms of type, the global market for smart card can be segmented into contactless cards, contact cards, hybrid smart cards, and dual interface. The demand for contact smart cards is expected to keep rising as customers become more inclined towards an improved digital landscape. Based on component type, the global market for smart card can be segmented into microcontroller-based smart cards and card-based smart cards. The demand for microcontroller-based smart cards is increasing on account of the need to track transactions.

Transparency Market Research’s recent report on the smart card market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the smart card market analyzes the scenario for the period 2019 – 2027, wherein 2018 is the base year and 2017 and earlier is historical data. The report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.

This TMR study on the smart card market provides data on the developments undertaken by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the global Smart Card market gives readers an individual understanding of the market.

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The study discusses the underlying trends and impact of various factors that drive the global smart card market, along with their influence on the evolution of the market.

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Down and Feather Market Growth Worldwide during 2020-2027

The global down and feather market is expected to reach a value of US$ 8812.5 Mn by 2027. The market is projected to expand at a CAGR of 7.0% in terms of value during the forecast period from 2019 to 2027, according to a new research report by Transparency Market Research (TMR).

Consumers are opting for down and feather products due to inclination toward natural products. There is rapid growth in the apparel industry that widely uses down and feathers in warm jackets, comforters, etc. Consumers prefer hypo allergenic products to avoid severe allergy problems. Hence, down and feathers are considered to be the right options. The growth in the bedding industry across the globe considers down and feather for filling as a natural mattress component. This factor drives demand for down and feathers.

With growth in the residential and commercial sector all over the world, consumers are opting for better furnishing to match the interior design. Down and feather is found to be utilized as a natural filling in furnishing products such as cushions, pillows, and bedding to provide high comfort. With the increase in renovation in the residential and commercial sector, people are opting for synthetic free natural furnishing products which includes fillings of down and feather, regenerating demand in the down and feather market. Rise in demand for specialty mattresses due to the rising consumer inclination toward eco-friendly and health-promoting products is fueling the demand for down and feathers.

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Growth in the residential and commercial segment due to rise in urbanization has improved the standard of living. This has encouraged consumers to opt for matching interior designs, promoting the purchase of down and feather bedding, pillows, and comforters. The primary processing of down and feather may vary based on the application of the end product. Based on origin, the duck segment is anticipated to expand at a CAGR of over 7.2% during the forecast period from 2019 to 2027.

The TMR report on the global down and feather market is based on a complete and comprehensive evaluation of the market backed by secondary and primary sources. The competitive scenario of the global down and feather market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global down and feather market arrive at predictions and estimations, and calculate the forecast for the market.

The report uses an analytical triangulation method to estimate the numbers and figures of the global down and feather market with both bottom-up and top-down approaches.

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The detailed assessment of the global down and feather market, along with an overview of the landscape is provided based on a careful examination of the avenues related to this market. Analysts’ conclusions on how the global down and feather market is set to grow are based on carefully vetted primary and secondary sources.

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Self-service Kiosk Market Business Strategy and Forecast to 2030

Transparency Market Research delivers key insights on the global self-service kiosk market. In terms of revenue, the global self-service kiosk market is estimated to expand at a CAGR of 11% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global self-service kiosk market report.

In the report, TMR predicts that the global self-service kiosk market would be largely driven by factors such as rising consumer demand for quick shopping experiences. Innovations in technology and design of self-service kiosks is expected to boost their demand in the coming years.

According to the self-service kiosk market report, the product segment includes food kiosk, beverage kiosk, retail kiosk, parking kiosk, electric vehicle charging kiosk, patient interactive kiosk, information kiosk, employment kiosk, check-in kiosk, automated teller machines kiosk, and others. At a global scale, food businesses that employ self-service kiosks can expect a 13% increase in average spend per person. Rising consumer spend through kiosks is driving food product sales globally.

Fast food chain owners prefer to install self-service kiosks to decrease product delivery time and increase their average revenue with more customer engagement.

In terms of payment mode, the has been bifurcated into cash payment and non-cash payment. The work economy has been shifting toward cashless transactions. Governments of different countries are encouraging people to use cashless transections.

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Consumers generally prefer to make cashless transactions while purchasing products from self-service kiosk. Companies are selling a large kiosk portfolio with non-cash payment technologies. The self-service kiosk market is highly fragmented. Large number of small, medium, and large companies operate in the market at the global and domestic level. Companies work on product innovation to increase their market reach.

This TMR report on the global self-service kiosk market is based on a complete and comprehensive evaluation of the market backed by secondary and primary sources. The competitive scenario of the global self-service kiosk market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global self-service kiosk market arrive at predictions and estimations, and calculate the forecast for the market.

The report uses an analytical triangulation method to estimate the numbers and figures of the global self-service kiosk market with both bottom-up and top-down approaches.

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The detailed assessment of the global self-service kiosk market, along with an overview of the landscape is provided based on a careful examination of the avenues related to this market. Analysts’ conclusions on how the global self-service kiosk market is set to grow are based on carefully vetted primary and secondary sources.

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