Sustainable & Smart Technologies

Unveiling industrial Control Systems (ICS) security market outlook from a competitive angle, global industry to register 20% CAGR over 2018-2024

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Industrial control systems (ICS) security market, tagged as one of the most revolutionary verticals of the smart & sustainable technologies space, has garnered massive remuneration in the recent years, given the increasing demand for network connectivity to support critical infrastructure. Industrial automation and digitization trends have practically computerized most of the machinery and engineering components that have undeniably changed the way operations are now performed but have however increased attack surface areas. Reports in fact claim that the industrial sector witnessed a significant increase in the number of vulnerabilities in ICS between the years 2015 and 2017. It has been estimated that the number of vulnerabilities reported by major companies offering ICS solutions were 115 in 2016 and the number rose to over 197 in 2017.

North America Industrial Control Systems (ICS) Security Market Size, By Security Type, 2017 & 2024 (USD Million)

North America Industrial Control Systems (ICS) Security Market Size, By Security Type, 2017 & 2024 (USD Million)

The growth in the ICS security industry can be attributed to these rising malware attacks that generally drain the bank accounts, steal identities, and blackmail organizations to bring services to a halt. A significant instance is that of the NotPetya ransomware that shut down several industrial IT networks across the U.S. and Europe. The gigantic outbreak resulted in losses of thousands of millions of dollars for large enterprises, from pharmaceutical company Merck to shipping firm Maersk. WannaCry was another popular ransomware that caused enormous damage, however it was later realized that this unsophisticated attack could have been easily prevented by following the basic IT security practices.

The robust prevalence of incidences similar to the aforementioned has served as a pivotal driver for ICS security market. Owing to these constantly evolving cyberattacks that are becoming more commonplace, security concerns have grown considerably in recent times, resulting into robust demand for ICS security solutions. Speaking of the growth in the commercialization potential, reports claim that the industrial control systems security market bagged USD 1.5 billion for the year 2017 and is expected to thrive further with industry players focusing on strategic collaborations and product innovation trends.

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Kepware’s latest release of the KEPServerEX® version 6.5 industrial connectivity platform, in this regard is quite an example of the rising product innovation & diversification trends in the industrial control systems security market. The company’s new product launch demonstrates its commitment to ICS security and its word in providing customers with best tools and services that support defense-in-depth programs. According to reports, the 6.5 version, which existing users can now avail for free, includes features such as enhanced password configuration, greater project file protection, comprehensive secure deployment guidelines, and other updated security components. Kepware, a business arm of PTC, also claims that it will introduce a Shared Responsibility Model that will enable the company to work together with its customers and address security issues experienced by industrial organizations of all sizes.

Industry experts speculate that in today’s security landscape, the real pressure on all the industrial enterprises is to secure their operational networks. And Kepware’s commitment in adding new security features and maintaining up-to-date components that would help customers reduce exposure to cyber-attacks and vulnerabilities will in turn strengthen its footprints in the competitive landscape of the global ICS security industry.

The partnership between Rockwell Automation and Claroty is another fine instance that portrays how leading industrial control systems security market players are constantly expanding their reach through such strategic collaborations. The partnership between the two is expected to develop a purpose-built anomaly detection software for the industrial network security.

Numerous other leading ICS security industry players like Cisco, Honeywell, IBM, Schneider Electric, and GE Digital are also expected to keep pace with the changing dynamics of cyberattacks while ensuring the delivery of comprehensive security solutions. On grounds of these efforts being undertaken by the industry players to innovate advanced & efficient products, industrial control systems security market is certain to tread along a lucrative roadmap in the years ahead. As per Global Market Insights, Inc., the overall industrial control systems security market size has been forecast to be pegged at USD 7 billion by 2024.

Author NameOjaswita Kutepatil

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APAC AI in Retail market to witness phenomenal proceeds over 2018-2024, China to be the chief revenue pocket

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Endorsed with a rich portfolio of digitally empowered consumers, artificial intelligence in retail market has been acclaimed as one of the most progressive verticals in the recent years. In the year 2017, this business space registered a global share of USD 650 million and is forecast to record a CAGR of 40% over 2018-2024, which is indeed humongous. With retail space becoming affluent with more number of e-commerce platforms as well as startups with huge technology appetite, the adoption of AI in retail market is bound to proliferate. Add to it, the technology is witnessing a slew of opportunities in sync with the hi-tech trends including the like of blockchain, AR, and Internet of Things establishing its footprints in the retail domain. Amidst all these tech interventions, the focal point of this consumer-driven industry remains delivering unrivaled shopping experience to the customers as well as ensuring optimal management of resources and stocks.

U.S. Artificial Intelligence (AI) in Retail Market Share, By Technology, 2017 (USD Million)
U.S. Artificial Intelligence (AI) in Retail Market Share, By Technology, 2017 (USD Million)

One of the classic examples of leveraging the AI technology is of Baidu, China’s renowned artificial intelligence market player. The company grabbed the headlines with its attempt to promote its AI technology in aiding convenience stores manage their food stock more efficiently and resourcefully. For the record, the search engine giant has been supporting Ping++, an AI service provider since September 2017 to work with Today, convenience store chain with regard to a fresh food project. Under the terms, the company utilizes PaddlePaddle, a deep learning platform by Baidu along with its CTR model. Reportedly, the implementation of these technologies had a positive impact on the sales, post which Baidu introduced this model to dozens of stores for testing. In testing stores, the profits surged by 20% and food waste dropped by 30%. The instance vividly portrays the huge scope of artificial intelligence in retail industry. Since the past two years Baidu has invested over USD 1.5 billion in AI research in addition to its investment of USD 200 million for the development of a new R&D facility.

In fact, the Chinese market having the three most powerful names of the retail and tech space – Alibaba, Baidu, and Tencent (collectively touted as BAT), is betting big in the global AI in retail industry space. The three giants which are claimed to have a cut throat competition with the U.S. in terms of resources and capital are positioning themselves to become the ‘future AI platforms’. The trio is also expanding in other Asian countries and investing heavily in U.S. based AI startups to leverage the power of AI. Backed by such powerful initiatives and presence of these conglomerates, APAC AI in retail market is forecast to be the fastest growing region, with an anticipated CAGR of 45% over 2018-2024.

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Further elaborating on the geographical trends, North America having procured more than 50% of the global share in 2017, has been leading the regional landscape of AI in retail market. U.S. has a major credit in the phenomenal regional trends with over 65% of investments (including M&As, private equity, and venture capital) in artificial intelligence technology. Add to it, the region is a major hub for startups in tandem with the presence of tech titans such as Google, IBM, and Microsoft.

Analyzing the aforementioned trends and the penetration of AI in retail industry, it is overt that the traditional retail model is bound to witness a disruption of sorts. The technology penetration will reshape the entire inventory management and operation cycle of the retail stores, thus providing a renewed shopping experience to the customers. Not only the efficiency and sales of the retail space will see an upsurge but through the proliferation of AI in retail market, the worldwide economy will progress massively, opening doors for several hi-tech startups and a plethora of new job opportunities. In terms of profitability scope, the overall AI in retail industry share is anticipated to surpass USD 8 billion by 2024, with untapped economies gaining major traction in terms of investment.

Author NameOjaswita Kutepatil

Artificial Intelligence (AI) in Education market to be influenced by the growth of e-learning & virtual platforms, expected to achieve a CAGR of 45% over 2018-2024

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The global artificial intelligence (AI) in education market has ascended as one of the primary AI application verticals owing to the limitless potential in innovations and ability to accelerate the learning process. Growing reputation of AI applications has created a platform for facilitating the knowledge acquisition and decision-making systems that support the educational institutions in effecting student development. Continuous improvements in technology and the increasing availability of advanced infrastructure has further propelled the artificial intelligence (AI) in education market.

U.S. Artificial Intelligence in Education Market Share, By End-Use, 2017 (USD Million)
U.S. Artificial Intelligence in Education Market Share, By End-Use, 2017 (USD Million)

The incredible progress of artificial intelligence (AI) in education industry can be emphasized by China’s recently implemented plans to achieve global leadership in AI research and development, including AI application in schools. A report revealed that a high school in Eastern China has installed a facial recognition system for real-time analysis of student engagement, by registering their behavior and facial expressions. Termed as the intelligent classroom behavior management system, its cameras are placed in front of the classrooms above the blackboard and scans the class every 30 seconds. The system can detect various kinds of moods and behavioral pattern of the students.

To elaborate further, this innovative AI system is reportedly assisting to track student attendance and refining teaching methods. It is expected to help in maximizing student engagement by making the students conscious of the system. The experiment with the intelligent classroom behavior management system comes on the heels of other AI applications implemented in schools across China, such as using the technology for grading papers and argumentative essays.

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Essentially, the key components of education are supposed to be learning, reasoning and efficient problem solving which are also the principal characteristics of AI systems. Consequently, AI has been integrated with the education industry where it has been found to be beneficial in building social skills and emotional outreach. The acceptance of AI by educational experts derived from its existence as an assistive tool has encouraged the AI based learner model. As per estimates, the learner model held more than 60% of the artificial intelligence (AI) in education market share in 2017.

AI can be used to gather information on the literacy and understanding levels of students from their response to different learning materials, methods and the speed at which they learn. This type of data can help teachers to design a prudent course of study to maximize the learning ability of any particular student.

Citing an example of such personalized education, Geekie Lab is an application developed in Brazil with machine learning capabilities which is helping students to cope with lessons at their own pace. The AI in Geekie’s education software constantly learns about each students progress on individual level through tests and sends the analyzed performance data to their teachers. Further, AI facilitates a platform for students to experiment and learn without the fear of judgements by peers, parents or teachers. AI can improve the flexibility of the education system by identifying the strengths and weaknesses of students and create a customized program or suggest them courses suited to their needs.

Evidently, the artificial intelligence (AI) in education market is exceedingly delivering positive outcomes while bridging the gaps between learning and teaching. E-learning platforms infused with virtual and augmented reality technologies have contributed heavily to the market growth. The learning platform and virtual facilitators application held 55% of the total revenue in 2017. These applications have provided effective support to learning and knowledge transfer outside the classrooms, across all grades and socio-economic levels, minimizing the dependency of students on parents and teachers who can only be available for limited periods of time.

The artificial intelligence (AI) in education market is characterized by a massive demand for virtual classrooms and tutors, owing to their cost-effectiveness and efficient delivery methods. Educational establishments are collaborating with EdTech (educational technology) companies to develop degree programs on virtual platforms and also a multitude of open courses to encouraging free education.

According to a report by Global Market Insights, Inc., the artificial intelligence (AI) in education market is dominated by North America, with over 60% share globally. The regional growth is fueled by the early adoption of AI technology in education and immensely developed infrastructure. Added to this, the presence of IT giants such as Google, Microsoft, AWS, IBM, Pearson and others has laid a strong foundation for the AI in education market expansion.

The advent of AI in education has initiated a change in the dynamics of teaching and will transform the way students learn and acquire skills. Worldwide, the market positions of multinational companies and growing venture capital investments in start-ups has turned the artificial intelligence (AI) in education industry into an extremely competitive landscape, with expected CAGR of more than 45% over 2018-2024.

Author Name : Pankaj Singh

Artificial Intelligence (AI) in BFSI Market to register a phenomenal CAGR of over 30% over 2018-2024, insurance and banking sectors to drive global industry progression

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The excellent growth dynamics of the global artificial intelligence (AI) in BFSI market can be traced by the recent instance of Metromile, a leader in pay-per-mile car insurance in the U.S., launching its new AI-based smart claims assistant, AVA. The automated system reportedly utilizes machine learning capabilities to reconstruct the accident scene and promptly ascertains if claim details are true. Apparently, the claim is approved within seconds after the details are verified and the AI-based tool further notifies the car owner of the expedited claim. With the increasing adoption of high-grade technologies such as IoT and Big Data, the commercialization potential of AI in BFSI industry has observed a marked uptick in the past few years.

U.S. Artificial Intelligence in BFSI Market Share, By Solution, 2017 (USD Million)
U.S. Artificial Intelligence in BFSI Market Share, By Solution, 2017 (USD Million)

Elaborating further, the unveiling of AVA signifies the transformative phase being witnessed across the worldwide insurance sector where prominent AI in BFSI industry players have been increasingly deploying advanced algorithms to enhance the underwriting process. This has, in turn, impelled the insurance segment of the AI in BFSI market which is forecast to register an outstanding y-o-y growth rate of over 38% during 2018-2024.

A brief insight of how banking sector has been shaping AI in BFSI industry trends

Over the past few years, numerous globally renowned banking institutions have been pouring in massive funds to develop cutting-edge AI applications that have invariably assisted them in optimizing performance, consolidating remuneration streams, and better serving their customers. In this regard, banks are increasingly forming partnerships with fintech corporations to integrate the latest technologies into banking products and services which has resulted in the development of advanced customer behavior analytics inventions, chatbots, and customer relationship management (CRM) solutions. Enumerated below is a succinct outline of how banks have been readily embracing AI-based solutions that has subsequently transformed the strategic and competitive landscape of AI in BFSI market:

  • Embarking on its AI and automation journey in September 2017, State Bank of India unveiled its first AI-powered chat & voice assistant, named as SBI’s Intelligent Assistant or SIA. The chatbot reportedly aids customers with everyday banking tasks just like a bank representative and has a remarkable capacity to handle close to 10,000 enquiries per second or 864 million in a day. Arguably, the deployment of an AI-based solution of this scale is cited to be first of its kind in the banking segment of the global AI in BFSI market. With an astonishing customer strength of around 420 million, State Bank of India’s latest move towards integrating AI is being viewed as a major leap of faith for India’s banking sector.
  • Regarded as one of the world’s largest banks, the U.S. based JPMorgan Chase has recently launched a digital platform that analyzes legal documents and extracts the relevant data. The AI-based invention, named as Contract Intelligence (COiN) platform, is an outcome of the initial implementation through machine learning technology and has an exceptional ability to revise approximately 12,000 annual sales agreements within minutes. The platform is being aptly termed as revolutionary across AI in BFSI industry given the fact that it effectively eliminates the need to manually review the said number of sales agreements which generally takes around 360,000 hours.

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Owing to the launch of intuitive, easy-to-use, and highly-efficient AI-based tools, the banking segment of the AI in BFSI market has been proliferating at an exceptional pace in the recent times. In fact, as per a research report compiled by Global Market Insights, Inc., the banking segment apportioned more than 50% of the total remuneration portfolio of AI in BFSI industry in the year 2017. With the unveiling of advanced AI technologies that provide real-time insights into every aspect of banking operations and leverage the abundance of data to gain a granular understanding of consumer behavior, the banking segment is slated to lead the end use spectrum of this business space over the ensuing years.

Infusing AI-based applications across a diverse set of operations has brought about a momentous shift in the ability of organizations, working in the BFSI domain, to swiftly analyze, comprehend, and respond to vast amounts of data which has consequentially augmented the revenue share of companies operating across AI in BFSI market. With the advent of advanced machine learning algorithms, data analytics solutions, natural language processing techniques, the AI in BFSI industry space is anticipated to register an overwhelming CAGR of 30% over the estimated timeframe.

Author NameSaif Ali Bepari

Europe district cooling pipeline network market valuation to hit the billion-dollar frontier by 2024, increasing implementation of energy efficient directives to drive the regional industry growth

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Increasing investments in sustainable urban development fall among the principal driving factors of Europe district cooling pipeline network industry. Centered basically around energy efficiency, district cooling systems are prominently deployed by regional governments of the EU in commercial as well as residential establishments to fulfill escalating demand for cooling systems. As the requirement continues to escalate, municipal bodies are finding it mandatory to establish long-term contracts with Europe district cooling pipeline network industry giants to set up district cooling plants. The growing acceptance of these systems owing to their economic and environmental benefits is certain to propel Europe district cooling pipeline network market size, valued at USD 900 million in 2017.

One of the most proactive countries across Europe that has accomplished quite some fame as far as urban development is considered is Denmark. Since the last few years, the Denmark government has quite commendably achieved its goal of minimized energy consumption. One of the cities in Denmark, Carlsberg, has earned the reputation of being one of most green cities in the country, solely on account of the deployment of district cooling facilities. Currently, in Carlsberg city, two storage tanks with a storage capacity of 2 million liters are deployed to enable energy-efficient and economically viable district cooling for office areas spanning a mammoth 300,000 square meters.

France District Cooling Pipeline Network Market Size, By Diameter, 2017 & 2024 (USD Million)

France District Cooling Pipeline Network Market Size, By Diameter, 2017 & 2024 (USD Million)

As these systems provide eco-friendly energy solutions, many commercial companies as well as residential building developers have been installing centralized cooling systems. The shifting trends toward the growing deployment of centralized cooling systems is thus likely to boost Europe district cooling pipeline network market size.

A prime driving force behind the growth of Europe district cooling pipeline network industry is the escalating implementation of energy efficient directives for reducing carbon footprints. Having recognized the potential energy savings that can be achieved with these systems, the European Union has framed a set of norms that would increase the deployment of these facilities across the continent. Regional government bodies have also affirmed that these systems will contribute extensively to the reduction of carbon emissions, a factor that is likely to impel Europe district cooling pipeline network industry outlook.

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Numerous member countries of the EU have been liasoning with one another in order to conjointly develop district heating and cooling systems for enhancing energy efficiency in residential buildings. These countries have also pledged to lower the proportion of CO2 emissions that arise due to energy consumption in residential as well as commercial buildings. Validating the abovementioned fact, in 2018, the Scotland government signed a deal with Denmark for reducing energy consumption in buildings by 15% by 2032 and derived emissions by 23%. This cooperation depicted by the EU member countries is certain to impel Europe district cooling pipeline network industry.

With the growing deployment of district cooling systems, pipeline manufacturers in Europe are naturally witnessing a stellar growth in product demand. In order to consolidate their stance as well in Europe district cooling pipeline network industry, these manufacturers are working independently to establish new manufacturing facilities across several European countries. Powered by their efforts in conjunction with the presence of a stringent regulatory landscape and the implementation of these systems across the residential, industrial, and commercial arenas, Europe district cooling pipeline network market is forecast to cross a valuation of USD 1 billion by 2024.

Author Name Sunil Hebbalkar

A concise overview of network attached storage market in terms of regional landscape, global share to record a double-digit CAGR over 2018-2024

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The commercialization of global network attached storage market has indeed taken up a remarkable pace in the recent years, courtesy – the increasing number of enterprises diving into big data analytics & data mining. The rapid adoption of NAS solutions in home and consumer applications to offer storage that can be accessed by multiple devices have provided significant impetus to the growth statistics of network attached storage industry share. With NAS gaining considerable traction across SMEs and other businesses incorporating cloud-based network, analysts speculate the network attached storage architectural layout to witness a revolution of sorts in the coming years. Not to mention, technology interventions are deemed to remain the focal point of this transition.

North America NAS Market Size, By Business Application, 2017 & 2024 (USD Million)
North America NAS Market Size, By Business Application, 2017 & 2024 (USD Million)

Toshiba, for instance, has recently launched its next-generation 3.5″ NAS N300 HDD and 2.5″ L200 HDD that can be now used in laptops as well. The technology, as claimed by Toshiba works perfectly with any network attached storage devices that are used for personal, home office or small businesses. The NAS device has been designed to support around eight drive bays in a multi-RAID NAS and features rotational vibration sensors that automatically detect & compensate for transient vibrations, thereby delivering prompt performance in multi-bay storage enclosures.

In yet another significant instance, the Taiwanese technology company Synology has recently announced the availability of its “18-series” NAS servers in India. Reportedly, the servers are designed to serve as personal cloud storage with features such as media streaming, data backup, file sharing, photo management, and more. The instance further emphasizes another vital strategy undertaken by NAS market players – exploiting the enormous potential in the untapped economies. The increasing technologically advanced and aware consumer base is one of the chief regions drawing the stakeholders’ attention toward these emerging countries. Speaking along similar lines, the APAC region, as forecast by Global Market Insights, Inc. is slated to register the fastest growth rate over 2018-2024. The rapidly proliferating trends of digitization coupled with the rising demand for cost effective & scalable data storage solutions are overt to further sway the regional industry outlook.

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North America network attached storage market to lead the regional landscape

North America, being a major technological hub stands poised to hold significant share in the global NAS industry. The region moreover retains the presence of large scale enterprises that have adopted the cloud platforms and big data analytics – a factor further expected to garner high demand for NAS solutions in the coming years. The rapid adoption of consumer and home network attached storage systems in U.S. and Canada across various end-use sectors such as the BFSI and IT & Telecom market have significantly driven North America network attached storage industry share. The United States NAS industry share is forecast to record a y-o-y growth rate of 20% over 2018-2024.

Elaborating further on the geographical landscape, Europe is projected to procure second largest share in the NAS industry. The growth is mainly attributed to the rapid adoption of this technology by the SMEs in tandem with the massively growing data center developments in the region. Add to it, the continent, over the recent years, has been one of the top-notch spots for the industry players adopting regional expansion as their chief growth strategy.

All in all, endorsed with a rich competitive and application gamut comprising BFSI, IT & Telecom, healthcare, retail, consumer electronics, etc., the global network attached storage market is certain to become one of the most remunerative business spheres for potential stakeholders. In terms of commercialization, Global Market Insights, Inc., projects network attached storage industry size to surpass USD 20 billion by 2024.

Author NameOjaswita Kutepatil

Mobility on demand market to be worth $200 billion by 2024, India and China to emerge as key revenue pockets

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The appreciable growth of mobility on demand market is projected to be one of the most significant trends that the globe would witness in the next decade. The ongoing exponential popularity of ride hailing, car sharing and last-mile delivery services is just the beginning of a global shift away from personal vehicle ownership to a shared, on-demand model. Research shows that car sharing is capable of reducing car ownership with an estimation of 1 shared vehicle replacing 15 owned vehicles. The increasing cost of vehicle ownership, limitations on infrastructure expansion, increasing commute times, and the demand to curb GHG emissions have brought about a change in the millennial generation’s relationship with automobiles, which is likely to significantly impact mobility on demand market trends.

UK car rental market size, by application, 2017 & 2024 (USD Million)
UK car rental market size, by application, 2017 & 2024 (USD Million)

In the last century, private automobiles brought about a paradigm shift in urban mobility. But the dependency on oil, production of greenhouse gases, congestion and ever-increasing demands on urban land for parking spaces have created a combination of problems that has now led to an inclination toward on demand mobility. Statistics show that more than half the oil in the U.S. is consumed by urban vehicles that produce 20% of the total CO2 emissions. Additionally, the construction of new roads has not kept up with increasing transportation demand, complicating the situation further and causing soaring problem with congestion.

In 2011, studies exhibited that the urban American travel time has been increased by 5.5 million hours, a figure that is projected to increase by 50% by 2020. Parking compounds the congestion problem in an urban setting where land is already in short supply. Rapid increase in urban population, which is estimated to reach 5 billion by 2030 and rising trend of car ownership in developing countries will worsen the problems on a global scale. Inevitably, powered by the aforementioned factors, private automobiles have come to be widely recognized as unsustainable solution for the future of personal urban mobility, leading to the expansion of mobility on demand industry.

It is expected that globally, shared platforms will account for the most miles driven in urban settings by 2024. Given that car ownership is significantly high in Europe and North America, these regions might not register a game changing effect as far as the regional landscape of the mobility on demand market growth is concerned. However, in countries like India and China, where the government is battling to control conditions like traffic congestion and air pollution, mobility on demand market will gain commendable traction. Both the aforementioned nations for instance, have a low car ownership percentage, however, both are harbingers of emerging economies where the middle class is rapidly growing and is the recipient of increasing disposable incomes. With the hundreds of millions of newly affluent Chinese and Indians requiring more on-demand mobility, Asia Pacific mobility on demand market will witness robust growth in the ensuing years. Indeed, APAC mobility on demand industry size is expected to be pegged at $2 billion by 2024.

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Mobility on demand industry has seemingly brought about an upsurge in the development of autonomous vehicles. For instance, Uber is investing heavily in bringing driverless cars to the roads as estimates show that 60% to 80% of the revenues remain with the car owner. By eliminating the need of a driver, ride hailing services like Uber are persevering to keep most of the revenue with the service provider. The profit perspective is highly motivating the development of driverless and autonomous cars, that are in turn expected to profoundly change mobility on demand market trends within the next 5 to 15 years.

However, it is to be noted that autonomous vehicles may not entirely solve the problems of congestion in an urban setting, as a large number of vehicles will still be retained on the streets. Urban vehicles are often overengineered and underutilized, as an automobile is designed to attain speeds of 100 miles per hour but typically travels at 15 to 25 miles per hour. Statistics also point out that private automobiles are parked 90% of the time. In future, on demand mobility market is expected to march beyond the bounds of ride hailing and car sharing and present itself in the form of small electric cars which can be taken off a rack of such vehicles with the swipe of a user’s card and can be dropped off in one such stack once the user has reached the destination. A development of this degree is certain to have a path-breaking impact on mobility on demand industry outlook.

The success of ride hailing services such as Lyft, Uber, and Ola has come to be highly dependent on new mobility on-demand market players, as they strive to build trust with key stakeholders such as regulators, consumers, insurers and investors. Using technologies to monitor and improve road safety is a vital part of this trust-building process that is certain to speed up the future of mobility on demand market. As public and regulatory confidence come to prevail, mobility on demand industry will witness commendable growth, with a CAGR estimation of 10% over 2018-2024.

Author Name : Sunil Hebbalkar