According to the market research report published by P&S Intelligence, Indian electric car market is projected to reach $707.4 million by 2025. The market is predominantly driven by the government schemes, growing environmental concerns, and falling battery prices. Several incentives, such as tax rebates, grants, and subsidies, have been launched by the central and state governments in order to increase electric car adoption in the country.
The adoption of electric vehicles has risen significantly over the past few years, owing to the surging air pollution levels and rising consumer awareness. Major concerns regarding electric vehicles in the past was their low range and speed, high charging time, and lack of adequate charging infrastructure. However, now due to technological advancements, the performance of electrical vehicles has been enhanced, resulting in their increasing adoption. This, in turn, has led to growing investments in the charging infrastructure across the globe. The vendors in the domain are further investing in efficient and smart charging systems.
The global automotive light detection and ranging (LiDAR) market generated revenue of $289.3 million in 2019, from where it is expected to grow at a CAGR of 26.1% during 2020–2030, to $14,754.7 million by 2030. On the basis of vehicle autonomy, the market was dominated by the semi-autonomous vehicle bifurcation during 2014–2019. The fully-autonomous vehicle category is set to witness faster growth during the forecast period, due to the greater estimated rollout of such automobiles in public shared mobility services.
The Indian electric scooters and motorcycles market is predicted to generate a revenue of $698.3 million by 2025, progressing at a 36.3% CAGR during the forecast period. The increasing concerns toward greenhouse gas emissions (GHG), leading to various government initiatives and the formulation of strict emission regulations, are some of the key factors responsible for the growth of the market.
Compared to 36 cases in 2016, 75 cases of illegal drone or unmanned aerial vehicle (UAV) use were reported in Japan in 2017, according to the National Police Agency. In recent years, there has been a sudden surge in the usage of UAVs for personal and commercial purposes, which often ends up creating security risks, either intentionally or unintentionally. This has prompted governments across the world to regulate such devices as well as adopt countermeasures, in case the UAV is hostile. Thus, with an increase in the usage of drones, the Asia-Pacific (APAC) anti-drone market is predicted to grow to $2,105.0 million by 2025.
The cost of the various components that go into manufacturing an electrically powered automobile is continuously reducing, as a result of economies of scale. For instance, the battery price is expected to fall by more than 30% between 2018 and 2025, thus making electric vehicles (EVs) more affordable.
More than 1.35 million people lose their lives in road crashes every year, says the World Health Organization (WHO). As most such mishaps are a result of human errors, the chorus for integrating advanced safety features in automobiles is growing louder. Additionally, the government in many countries is mandating the installation of automatic braking, advanced driver-assistance systems (ADAS), and lane assist features in vehicles.
The major factors behind the India automotive human machine interface (HMI) market growth are rising sales of passenger car, increasing in-vehicle connectivity, and growing demand for comfort and in-vehicle safety features. The market generated a revenue of $466.9 million in 2017, and it is predicted to reach $1.0 billion by 2023, witnessing a CAGR of 14.1% during the forecast period 2018–2023, according to P&S Intelligence. Automotive HMI includes multiple system that permits drivers to interact with their vehicles. It works with the human touch, voice commands, and body language.
The global kick scooter sharing market share registered revenue of $143.4 million in 2018, and it is projected to reach $4,090.5 million by 2025, at a CAGR of 51.3% during the forecast period (2019–2025). Among the different models, the first and last-mile category held the larger share in the market in 2018, and it is forecast to remain the larger category during the forecast period, owing to its idealness to travel shorter distances.
As the number of vehicles on roads is growing, the prevalence of road crashes across the globe is also surging. There can be no doubt about the fact that the number of people owing private vehicles is quite higher than it was 10 years ago or even 5 years ago. This has resulted in the lowering of safety on roads. As per the World Health Organization, about 1.35 million people die every year because of road traffic crashes. About 20–50 million people suffer from non-fatal injuries, resulting in disability. In addition to this, these crashes cost various countries 3% of their gross domestic product.