3 key trends fostering air traffic management market share over 2019-2025
Improving global economy and rising passenger traffic will foster air traffic management market size over the analysis timeframe. Increase in the number of passengers has been boosting the air traffic in Asia Pacific which has resulted in new airport developments to cater to the passengers across countries like China and India .For example, India had made an investment for two airports in Ahmedabad and Rajkot in 2019. China has reportedly invested in six new airports which have been predicted to be completed by 2020.
Key players that operate within the market’s competitive outlook include Thales Group, Raytheon, Northrop Grumman Corporation, Harris Corporation and Saab AB that bolster their capabilities in research and development to create innovative solutions by incorporating advanced technologies.
For instance, Park Air Systems which is a subsidiary to Northrop Grumman in the U.K., reportedly deployed Sapphire ATM Communication System to four of the remote stations in Poland. The four new systems have been delivered to the Polish Air Navigation Service Agency and will be serving the Warsaw Fredric Chopin Airport.
Described below are the few trends that will fuel air traffic management industry share over the coming years:
- Establishing key regulatory bodies
Major regulatory bodies like the U.S. Federal Aviation Administration (FAA) have been administrating the operations of air traffic management all across the region. These authorities have primarily been aiming to provide the customers with enhanced air traffic management facilities on account of the increasing passenger demand.
The airports are focused on providing services pertaining to advanced air traffic control and upgrading the preexisting systems, bolstering air traffic management market forecast.
Booming freight transportation, corporate travel and tourism owing to expanding globalization has increased the frequency of flights and has created a substantial requirement for efficient air traffic management systems.
Pertaining to these drivers, EU had introduced single European sky in the year 2014. The goal of SES is the defragmentation of the European airspace and improve air traffic management standards, thus spurring industry growth.
- Increased focus on safety of passengers
Air traffic control systems offer vital services in airports that involve instructions provided for aircraft on the ground including during clearing aircraft takeoffs and landing. Chief functions of the systems include the prevention of aircraft collision with equipment and other aircraft while maneuvering, both in the air and ground.
Air traffic management industry size from air traffic control segment is anticipated to record gains of over 3% up to 2025.
The segment will be considerably driven by rising applications of 4D trajectory prediction systems, artificial intelligence and increasing adoption of other new technologies that help with the constant upgrade of air traffic control systems.
- Rising air traffic and cargo movements in Asia Pacific
In terms of geographical expansion, Asia Pacific is projected to hold significant share of the global air traffic management market size due to the growing number of investments for new airports in several countries such as India, China, Indonesia, and Vietnam.
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Emerging economies across the region have resulted in booming cargo movement and passenger traffic across the region. Leading aircraft manufacturers have substantial backlog of new airplane orders, indicating a vast future potential.
The authorities handling airports have been consistently investing in the development of infrastructure of the existing airports in order to support the rise in rising cargo and passenger movements. This will provide lucrative opportunities air traffic management industry outlook, with considerably increased need for handling large aircrafts.
Author Name : Riya Yadav
This entry was posted in Aerospace and Defense and tagged Aeronautical Information Management, Air Traffic Control, Air Traffic Flow Management, Air Traffic Management Market, Air Traffic Management Market Report, Air Traffic Management Market Share, Air Traffic Management Market Size, Air Traffic Management Market Study, Airspace Management, Communication, Global Air Traffic Management Market, Hardware, Navigation, Software, Surveillance.
Automotive transceivers market to gain commendable proceeds from chassis & safety applications, global industry revenue to surpass USD 7 billion by 2024
U.S. automotive transceivers market, by application, 2017 & 2024 (USD Million)
Traditionally, most of the power steering systems in vehicles are hydraulic systems, but the electric power steering systems are gaining enormous momentum due to the increased efficiency and performance they offer. Elimination of the different physical components of a hydraulic system makes EPS a smaller and lighter alternative, depending mostly on communication between electronic control units and sensors. The growing adoption of EPS in cars and commercial vehicles will propel the automotive transceivers market revenue. A key benefit of the EPS system is that it powers the EPS motor only when it is required, making it notably more efficient.
Being a low cost way to provide a more comfortable driving experience, continuous advancements in EPS technology will further push the automotive transceivers industry evolution for delivering more enhanced products. Today, EPS allows for the integration of automated driving in combination with increased safety for the driver. It has been reported that 90% of all traffic accidents are caused by human errors, which can be reduced by automated driving features. Also, EPS has lesser weight as compared to conventional steering systems and some EPS offerings, like Bosch’s Servolectric, being up to 20% lighter.
Global automobile manufacturers are installing EPS in their current and upcoming models to improve driver safety and include added features. Recently, Honda unveiled a new Sport model of its HR-V lineup for Europe which has Honda’s Agile Handling Assist system, a specific steering feature. It utilizes a variable EPS for adjusting the amount of feel through the wheel based on steering angle and speed. Honda claims the system delivers a steady and smoother response for different steering angles, making it safer to drive. As increasing number of vehicles are produced with similar systems incorporated within them, the automotive transceivers market can be expected to register a higher growth rate from the chassis and safety segment.
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A significant development in vehicle technology that has strengthened the automotive transceivers industry is the advent of advanced driver-assistance systems (ADAS), which can also be combined with EPS. Several features like blind spot detection, lane assist, forward collision warning are being added into cars to improve the overall safety of drivers and passengers. With the help of innumerable connectivity solutions fused into a vehicle, these ADAS capabilities can be merged with EPS to provide an easier and more reliable safety system. Automaker Jaguar has demonstrated the same in its E-Pace model, in which the company has added considerable ADAS technologies.
Speaking further, the car has rear parking sensors and camera for assisting the driver, and this camera is also connected to the EPS for enabling blind spot detect function to reduce the possibilities of sideswipe collisions on roads having multiple lanes. Such a combination of different safety technologies in a vehicle signifies the potential of the automotive transceivers industry for boosting the advancement of these functions. Experts have predicted that efficient and proper use of ADAS functions can reduce all vehicle crasher by nearly 40% and all traffic deaths by almost 30%, displaying the necessity of ADAS in all future vehicles.
Worldwide, the mounting concerns regarding environmental pollution has put the focus on electric vehicles, which are the prime target market for the latest ADAS and EPS products. The International Energy Agency has projected that by 2030, almost 125 million electric vehicles would have hit the roads globally, indicating lucrative prospects for the automotive transceivers market over the next few years. Anticipated to reach a global valuation of more than USD 7 billion by 2024, the automotive transceivers market is characterized by the presence of small and large players, including Infineon Technologies, NXP Semiconductors, Texas Instruments, Broadcom, Inc. and Cypress Semiconductor Corporation.
Author Name : Pankaj Singh
This entry was posted in Automotive & Transportation and tagged ADAS, Auto Transmission, Automotive Transceivers Market, Automotive Transceivers Market Forecast, Automotive Transceivers Market Growth, Automotive Transceivers Market Share, Automotive Transceivers Market Size, Autonomous Driving, Body Control Module, Body Electronics, CAN, Chassis & Safety, Dashboard, Electric Power Steering, Engine Management System, Ethernet, FlexRay, HVAC, Infotainment, LIN, Multimedia, Navigation, Powertrain, Telematics.
Geographic Information System (GIS) market to witness extensive proceeds from the O&G sector, APAC and North America to be pivotal growth grounds
With location-based analytics and mapping forming an essential part of the future smart & sustainable technologies, GIS market is going a transformation of sorts in the recent times. Over the years, strong technological proliferation in geospatial services for remote sensing platforms and navigation have further accelerated the adoption of GIS solutions for obtaining critical information and real-time location data. With improved operational efficiency and enhanced decision-making, the advent of GIS technology has irrefutably brought a commendable transformation in the recent years.
Enumerated below are few examples of how GIS technology is faring across the popular industries.
Europe GIS Market Share, By Application, 2017 & 2024 (USD Million)
Oil & Gas Industry:
As an industry that has registered itself as a vital part of the global economy, this capital sensitive oil & gas sector is one of the most lucrative segments of the global GIS industry. In fact, statistics depict that the oil & gas industry is driven by an anticipated 80% data that has a spatial component, harnessing geographical & spatial information at every possible stage of the life-cycle right from basin analysis to E&P activities to distribution and pipeline management. With GIS industry further bringing in extended spatial analytics and advanced mapping, the oil & gas sector is indeed emerging with the highest potential of GIS application over the entire life-cycle.
The agricultural sector has now widely adopted GIS and spatial mapping technologies for better assessing crop conditions, weather, and topography related information. The rapid adoption of drones for precision farming and agricultural applications have furthered the demand for GIS, in turn favoring the business growth. Estimates in fact claims the global GIS market from the agriculture segment to register a healthy growth rate of 15% over 2018-2024.
The global GIS industry is considerably thriving on the copious amount of geospatial information used by the government agencies for taking data-driven decisions on national & state welfare. The government sector is in fact seen increasingly investing in deploying GIS software across the military, defense, and aerospace for carrying out terrain analysis, crucial surveillance as well as reconnaissance operations, battle field management, and monitoring of possible activities of terrorism.
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How is GIS helping to streamline regulatory processes?
As the utility of GIS is rapidly gaining momentum across the popular industries, the area of regulation & environmental litigation is particularly forming a profitable investment ground for potential stakeholders. The modern GIS technologies are helping the regulatory agencies to strictly monitor public lands, protect environment, and in conserving water resources.
Recently for instance, the Maharashtra (India) government has announced that it will be using the GIS mapping technology for identifying the illegal constructions in more than 170 major cities. According to the officials, there is no prevention nor any steps are generally taken to stop illegal construction. It is only after a building is constructed & people start residing, the issue is ranked up. The regional GIS market in this regard is thus gaining traction as the satellite mapping technology is expected to help the government monitor illegal construction at an early stage.
Smart Policing is another major concept that is emerging rapidly due to technological advancements brought forth in the global GIS industry. The police agencies worldwide are using geospatial technologies for identifying crime hot spots, mapping crime, identifying areas prone to inmate violence, and parole management. Thus, allowing the law enforcement authorities to better monitor situations, the GIS technology is witnessing strong adoption in streamlining regulatory process, which in extension is taking the growth curve of global GIS market several notches up.
Statistics depicting the exponential growth rate:
- According to a report compiled by Global Market Insights, Inc., the global GIS market is estimated to be pegged at USD 4 billion in 2017, and is projected to hit a remuneration portfolio of USD 9 billion by 2024, depicting a 12% growth rate over the timeframe.
- Taking into account the regional landscape, the North America GIS market held a dominant share of 40% in 2017, given the rapid adoption of geospatial technology across myriad industries.
- With an anticipated CAGR of 15% over 2018-2024, the Asia Pacific GIS market, according to reports, is expected to emerge as lucrative investment hub for potential stakeholders.
On account of the vast application and regional scope it comes as no surprise that the GIS industry players are making rapid headways in reinforcing their global positions in unique ways. Recently, for instance, a GIS startup AmigoCloud has announced that it is on a mission to make satellite mapping easier. In order to make digital mapping available for everyone, the company has developed a unique cloud-based GIS app which can be downloaded from Google Play and Apple Store. The proliferations of such different start-ups and core industry players, is undeniably expected to propel the commercialization potential of GIS market in the ensuing years.
Author Name : Ojaswita Kutepatil
This entry was posted in Sustainable & Smart Technologies and tagged Agriculture, Construction, Desktop GIS, Geographic Information System Market, Geographic Information System Market Research, Geographic Information Systems Industry, GIS Collectors, GIS Industry Outlook, GIS Market, GIS Market Analysis, GIS Market Share, GIS Market Size, Global Geographic Information System Market, GNSS Antenna, Government, Integration & Maintenance, LiDAR, Location-based Service, Managed Service, Mapping, MINING, Mobile GIS, Navigation, Oil & Gas, Surveying, Telecommunication), Telematics, Total Station, Training & Consulting, Transportation and Logistics, Web GIS.
Commercial satellite launch vehicle market to gain momentum over 2018-2024, APAC to emerge as a prominent revenue pocket
The rapidly rising demand for navigation technology, weather monitoring, and remote sensing is certain to augment satellite launch vehicle market growth over the ensuing years. Indeed, authentic surveys vouch for the vast expanse of this industry across the globe. According to the 2017 State of the Satellite Industry Reports, satellite launch services industry revenues including all commercially-competed launches of 2016, increased by 2% to USD 5.51 billion after having experienced a drop by 9% between 2014 to 2015.The rising availability of disposable income amongst the urban population has prompted the usage of mobile phones and navigation devices. Escalating use of the internet, VoIP, online digital payment services and IoT are playing a key role in the enhancement of communication. Reportedly, in 2018, the number of internet users has risen by 7% y-o-y to 4.022 billion, social media users by 13% to 3.196 billion and mobile phone users up by 4% to 5.135 billion globally. Growing connectivity requirement through radio, TV, as well as telecommunication mediums will drive the deployment of communication satellites, thereby propelling the satellite launch vehicle market over 2018-2024.
U.S. SLV Market, By Launch Activity, 2017 & 2024, (Units)
Geosynchronous satellites contributed to over 65% of the overall satellite vehicle market share in 2017. Indeed close to 34 launch missions in the GEO orbits were recorded in 2017 due to their precise applications in observational data analysis and national security monitoring. The growing demand for geosynchronous satellites on account of their benefits will robustly impel the GEO orbit based satellite launch vehicle market share in the years ahead.
Speaking of commercial satellites, it is prudent to mention that satellite launch vehicle market size from commercial satellites will witness a CAGR of 3% over 2018-2024, owing to the increasing requirements of these satellites in end-use industries such as earth observation, mineral & energy exploration, electronics, military, and telecom. The surge in the number of launchers incorporated with built-in automated navigation systems that are highly beneficial in the event of communication failure will positively influence the satellite launch vehicle industry share from commercial launch activities.
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The India space launch vehicle market has also witnessed a rapid growth in the recent years. In 2017, the Indian Space Research Organization (ISRO) launched a record-breaking 104 Nanosatellites into the orbit all using a single rocket. The Indian space agency is known for building space launch vehicles with minimum labor cost and locally sourced equipment. Reportedly, ISRO’s commercial arm, Antrix has earned Rs 5,600 crore in the last three years, solely through the commercial activities including the launch of commercial satellites as well as remote sensing services. It is thus rather overt that India SLV market stands to gain considerable returns in the ensuing years. Driven by the efforts of economies such as India and China, APAC SLV industry trends are expected to undergo a dynamic change over 2018-2024.
Major players of SLV market include NASA, SpaceX, Blue Origin, Virgin Orbit, United Launch Alliance, Boeing Space and Communications, E Prime Aerospace, Bristol Spaceplanes, Mitsubishi Heavy Industries, Eurockot, Indian Space Research Organisation (ISRO), Stratolaunch Systems, Kelly Space & Technology, Lockheed Martin, Scaled Composites LLC and Northrop Grumman Corporation. Industry participants are currently forging mergers in a bid to reduce SLV development cost and increase the chances of achieving successful launch missions. In 2017 for example, NASA collaborated with SpaceX in a move that led to savings of millions of dollars.
Satellite Launch Vehicles (SLV) carry satellites and payloads from earth’s surface to space. Launching an SLV requires high precision, accuracy, power, efficiency and immaculate planning. Most of the SLVs are designed for one-time use however, upcoming advance SLV technologies introduced by companies like SpaceX would offer use of a single SLV multiple times eventually saving millions of dollars’ worth of capital. In essence, the efforts of leading contenders is likely to aid the growth of SLV industry, slated to hit $2.4 billion by 2024.
Author Name :Mateen Dalal
This entry was posted in Automotive & Transportation and tagged Commercial, Communication, Earth Observation, GEO, Launch Activity, LEO, MEO, Meteorology, Navigation, Non-Commercial, Number Of Payloads, Orbit, R&D, Remote Sensing, Satellite Launch Vehicle Market, Satellite Launch Vehicle Market Share, Satellite Launch Vehicle Market Size, Scientific, SSO.
Unveiling automotive gesture recognition market in terms of the competitive hierarchy: technologically advanced product launches to expedite the industry growth
Ultrahaptics’ latest launch of a new gesture technology platform, STRATOS, is creating waves of anticipation in automotive gesture recognition market. Incidentally, this platform has the ability to create haptic sensations in mid-air. In the automotive infotainment system, mid-air haptic feedback and gesture recognition technology is collectively used for making the controls more intuitive and safer. In this regard, STRATOS is likely to gain traction in automotive gesture recognition market. The increasing use of high-quality HMI (human machine interface) for reducing easier integration and faster processing modules in automobiles will also majorly boost automotive gesture recognition industry share.
U.S. Automotive Gesture Recognition Market, By Product, 2017 & 2024, (Thousand Units)
Considering the functionality benefits of infotainment systems, leading carmakers have been attempting to deploy new and advanced versions of gesture technologies. Some of the accomplishments of leading automakers that have contributed significantly toward product development have been enlisted below:
In 2015, the well-known luxury carmaker, BMW incorporated a gesture recognition and touchscreen to its next-generation human-machine interface. This highly advanced iDrive up-gradation could also help rear passengers to command infotainment system and control ventilation and positioning through a tablet. In addition, this enhanced technology provides ease of user-friendliness for drivers and passengers to operate infotainment & navigation systems as well as smartphones. In fact, for controlling the entire gesture system, BMW used a camera mounted on the roof, which permits users to control all the features just by rotating their hand in clockwise or anticlockwise directions. In this regard, it is prudent to mention that hand authentication systems will cover over 60% share of automotive gesture recognition industry share by the end of 2024.
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Jaguar Land Rover
The subsidiary of the reputed Indian automotive company, Tata Motors, Jaguar Land Rover, in 2015, collaborated with the start-up firm Ultrahaptics to develop ultrasonic free-space haptic technology. This ultrasonic gesture recognition can be used for the functioning of in-car infotainment systems. The technology creates 3D objects in mid-air so that the driver can track any action very quickly without taking his eyes off the road. The growing acceptance of such haptic control systems by various luxury car manufacturers is poised to push automotive gesture recognition market size.
The leading German automobile manufacturing company, Continental, had planned to incorporate gesture control in steering wheels in 2016. Currently, in order to operate infotainment systems, drivers are required to take their hands off the wheel. However, with Continental’s new gesture facility, the driver can minimize the distraction and improve passenger safety in a much better manner. Through the deployment of innovative human-machine interface in vehicles, automakers are looking forward to strengthening the intuitive communication between the vehicle and the driver. This new approach of Continental is likely to remove all touch-sensitive surfaces and buttons on the steering wheel. In fact, this design will help vehicle manufacturers to optimize the cost of the steering system. Continuous design innovations and system developments comprising gesture recognition system are thus slated to have a positive influence on automotive gesture recognition industry outlook.
As of now, gesture recognition is one of the upcoming research areas for automotive giants. The leading players in automotive gesture recognition market are continuously working on inventing advanced applications for making interactions convenient, natural, and easy. Automakers have also been prominently involving themselves in automotive gesture recognition industry, which is likely to augment product demand over the years ahead.
Author Name :Sunil Hebbalkar
This entry was posted in Automotive & Transportation and tagged AC Blower, Automotive Gesture Recognition Market, Automotive Gesture Recognition Market Analysis, Automotive Gesture Recognition Market Size, Door, Face, Fingerprint, Global Automotive Gesture Recognition Market, Hand, HCV, Infotainment, Iris, LCV, Multimedia, Navigation, PCV, Sunroof, Touch Based Systems, Touchless Systems, Vision, Window.
High altitude platform market to witness commendable gains via communication & surveillance applications, U.S. to be a prominent growth avenue
With significant advancements in artificial intelligence and wireless technologies, high altitude platform market is expected to witness remarkable growth in the coming years. The emerging market for broadband data provision and multimedia are highly impacting the growth of projects – that are launching terrestrial and satellite systems for enhancing wireless and internet services. Airships, tethered aerostat systems, unmanned planes, and so-called pseudo satellites are some of the most significant high altitude platforms that are been used to enhance global communication, wireless technologies, and surveillance applications. Statistically, it has been observed that the application scope and involvement of special deep-pocketed proponents have significantly led high altitude platform market to cross the billion-dollar frontier in 2016. According to the estimates provided by Global Market Insights, Inc., high altitude platform market size was over USD 1 billion in 2016 and is expected to surpass a valuation of USD 1.5 billion, expanding at 5% CAGR over 2017-2024.
U.S. HAP market size, by application, 2016 & 2024 (USD Million)
Speaking of the prominent companies expanding their reach in the high altitude platform industry, the social media giant Facebook and leading aerospace manufacturer Airbus are teaming up to develop their separate solar powered unmanned airships. As per reports, these systems are designed to fly above the height of 70,000 feet to provide the broadband internet service in the remote areas. Another recent development witnessed across high altitude platform market is of Google, who has successfully launched HAP projects such as Loom and Skybender to beam internet services to the underserved and rural location across the globe. These instances clearly validate the recent developments spanning the installations and commercialization of UAVs, satellites, and drones, that, in turn, is certain to boost the revenue stream of overall high altitude platform industry.
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Interestingly, telecommunications and wireless networks are not the only thriving application segments of high altitude platform market. Analysts deemed that surveillance application of HAPs dominated the business sphere, on account of its rising demand from the military and public safety sectors. The profound significance that these high altitude platforms hold in identification of criminals, terrorist attacks, and tracking activities have remarkably uplifted the demand of HAPs in surveillance applications. The recent instance of the sniper attack in the Las Vegas accounted for more than 59 deaths and 527 injuries, which has drastically impacted the business operations of HAP market. It is noteworthy to mention that, such situations demand strong surveillance, wherein the HAP plays an important role in providing clear and concise images of objects from distance. In this scenario, several governments of countries including U.S., UK, and India have initiated grants for companies operating in the high altitude platform industry to enhance the research and development of these platforms for defense purposes.
Reports claim North America and Western Europe to be the leading regions witnessing high adoption of HAPs in military and naval forces. For the remote sensing purpose, HAPs have an important advantage of low orbits and longer timespans over satellites. This has favored HAPs to permit better resolution images on account of being comparatively closer to the covered areas. High penetration of UAV aircraft coupled with strong spending on other LTA systems are identified as the prime factors responsible for surging growth of high altitude platform industry. As per reports, U.S. is anticipated to be a major region dominating the regional high altitude market landscape. Also, considering the worldwide demand for HAPs, Asia Pacific is projected to be another lucrative growth ground for HAP market expansion. The rising adoption of the technology, especially in the emerging countries of South-east Asia, for telecommunication and remote sensing purpose, is expected to drive the APAC industry demand. The region is further expected to observe strong foothold in the global high altitude platform industry, owing to the rapid involvement of regional governments in tackling foreign & internal conflicts, smuggling, and terrorist activities.
Given the extensive adoption of HAP technology on the global level, it is prudent to mention that these systems will be a prominent part of the modern-day infrastructure developments. Driven by the diversified application matrix and rising participation of tech giants to harness this technology, analysts affirm the global high altitude platform market to witness a rather profitable roadmap down the line.
Author Name : Ojaswita Kutepatil
This entry was posted in Electronics and Media and tagged Airships, Communication, EO/IR System, High Altitude Platform Market, High Altitude Platform Market Report, High Altitude Platform Market Research, High Altitude Platform Market Share, High Altitude Platform Market Size, High Altitude Platform Market Trends, Navigation, Remote Sensing, Surveillance, Tethered Aerostat Systems, UAV.
Automotive electronics market valuation to cross USD 400 billion by 2024, rising adoption of electric vehicles to augment the industry growth
Automotive electronics market, in recent times, is on the verge of emerging as a niche vertical, pertaining to the high demand for infotainment and security systems in vehicles. Many of the automotive giants of today are installing advanced and high-performance infotainment systems to enhance efficacy of vehicles. For instance, recently, Renesas Electronics signed a deal with the renowned automaker, Toyota Motor Corporation to implement its automotive technology in Toyota’s upcoming self-driving vehicles. This technology consists of the high-performance R-Car system-of-chip (SoC), used as the brain for advanced driver assistance systems and in-vehicle infotainment system of vehicles.
China automotive electronics market size, by application, 2017 & 2024 (USD Million)
The deployment of such systems to maintain passenger and vehicle safety is thus slated to impel automotive electronics industry share. Over the coming years, the use of real-time operating systems and the development of next-generation visualization tools for automotive in-vehicle systems is likely to increase at an exponential rate. The surging awareness among people about the benefits of autonomous vehicles will thus help augment the utilization of electronic content in automobiles, thereby fueling automotive electronics market share.
The recent advancements in digital technologies such as IoT and AR are expected to substantially enhance the performance of vehicles. In this regard, some of the tech giants are looking forward to implementing image sensors to improve functional safety features. Recently, the European Parliament announced that it may be planning to mandate the use of safety equipment for all newly manufactured cars. The safety equipment includes intelligent speed assistance, autonomous emergency braking (AEB), and seatbelt reminders. Currently, the autonomous emergency braking system is becoming more common among new cars pertaining to the growing awareness about the importance of road safety. Moreover, the deployment of norms by the European Union related to the fuel economy and emission control has encouraged automakers to use more electronic content, which will significantly stimulate Europe automotive electronics industry trends.
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Of late, regional governments have been observed to be deploying stringent rules and regulation to curb environmental pollution, mainly caused due to the release of carbon content into environment. In 2012, the American National Standards Institute (ANSI) had released a standard roadmap to deploy electric vehicles and to implement changing infrastructure across the United States. In order to comply with regulatory norms, many automotive giants and start-up companies have shifted their focus toward the development of electric vehicles. In this regard, to fulfill the increasing requirement of electronic content, most the players in automotive electronics market have been making heavy investments on the advancement of supply components. For instance, Panasonic has developed a new software in cooperation with Azapa to speed up the development cycle of products. Speaking of which, some of the well-known behemoth in automotive electronics industry are Denso, Avago Technologies, Wipro, Delphi, Continental, Bosch Group, Panasonic, and Hitachi Automotive Systems.
The rising automation and digitalization in automobiles have had a considerably positively impact on automotive electronics market trends. Tech giants have been adopting tried-and-tested strategies of joint ventures and M&As to set renewed frontiers for profitability. In fact, recently, Intel and Mobileye have signed a collaboration to develop self-driving cars. Even Panasonic is reported to have partnered with Tesla to manufacture batteries for vehicles. Strategic alliances such as the aforementioned, in conjunction with the growing electrification in automotive sector are likely to boost automotive electronics market. According to Global Market Insights, Inc., automotive electronics industry will generate a mammoth revenue of more than USD 400 billion by the end of 2024.
Author Name : Saipriya Iyer
This entry was posted in Automotive & Transportation and tagged Adaptive Cruise Control, ADAS, Audio, Automated Emergency Braking, Automotive Electronics Industry Analysis, Automotive Electronics Market, Automotive Electronics Market Forecast, Automotive Electronics Market Growth, automotive electronics market share, automotive electronics market size, Automotive Electronics Market Trends, Blind Spot Detection, Body Electronics, Commercial Vehicles, Communication, Display, Engine Controllers, Exhaust, Head Up Display, Infotainment, Lane Department Warning, Navigation, Night Vision, Parking Assistance, Passenger Cars, Powertrain, Safety Systems, Transmission Drivetrain, xEV.