The global Light Duty Vehicles Market size is projected to be USD 922.21 billion by 2025, as per a new report released by Million Insights. It is estimated that the market would witness 8.5% CAGR over the forecast duration. The growing use of passenger cars for shared mobility is anticipated to positively drive the growth of the market. In the recent past, OEMs are increasingly investing in the development of autonomous electric vehicles. Growing investment in such vehicles is likely to strengthen the market growth.
Governments across the globe are emphasizing on the development of electric vehicles by offering supportive infrastructure and incentives. For example, the Indian government is planning for sales of around 6-7 million units of electric vehicles by 2026. In addition, the use of electric vehicles for commercial transportation is gaining traction in the past years.
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Online ridesharing companies such as Uber Technology and Ola Cabs are increasingly deploying shared mobility services. In addition, the growing use of light-duty vehicles in courier services and micro transit are further bolstering the light duty vehicle market growth.
Emerging countries are witnessing significant growth in the e-commerce industry. Growth in e-commerce industry has resulted in a demand for efficient logistic services, which in turn, has accelerated the adoption of light duty vehicles. In addition, emerging countries are also witnessing a rapid rise in manufacturing activities, which require a continuous supply of raw materials. Therefore, light duty vehicle, owing to their fuel-efficiency, are gaining traction in industrial transportation as well.
Further key findings from the report suggest:
- Asia Pacific is projected to register the highest growth over the forecast duration owing to the increasing use of light duty vehicles in tourism and e-commerce industry.
- Electric category is likely to dominate the market owing to growing support by government bodies across the world.
- It is predicted that the all-wheel-drive vehicle would register the highest growth over the forecast duration.
- Leading market players are General Motors Company, Subaru Corporation, Toyota Motor, BMW AG, Ford Motor and Nissan Motor among others.
Light Duty Vehicles Type Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)
- Passenger Car
- Van
- Sports Utility Vehicle (SUV)
- Pickup Truck
Light Duty Vehicles Fuel Type Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)
- Diesel
- Gasoline
- Hybrid
- Electric
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Light Duty Vehicles Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
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The presence of numerous market players coupled with technological advancement is projected to stimulate demand from 2016 to 2024.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/us-advanced-battery-energy-storage-system-market/request-sample Market Synopsis of U.S. Advanced Battery Energy Storage System Market: The market is anticipated to observe a considerable increase in the upcoming years due to technological advancements in the area of smart grids, home control devices, and smart metering.
Additionally, the increasing R activities and investments in the distributed energy storage sector are likely to augment the market growth during the projected period.
The growing concerns of government for declining the dependency on fossil fuels for catering to energy needs and a higher share of clean sources in the energy mix are predicted to boost the market demand for these systems in the grid storage from 2016 to 2024.
The need for commercial electric vehicles has been the key driver triggering the growth of these battery systems in the U.S. in recent years.
The flow battery segment demand was worth USD 15 million in 2015.
The global Automated Fare Collection (AFC) Market is expected to display higher growth rate over the next seven years.
The automated fare ticketing system is majorly utilized for public transportation network that is also termed as an automated version of manual fare collection.
The automated fare collection (AFC) systems are based on integrated ticketing phenomenon.Get Exclusive Free Sample Copy Of This Report @ https://www.millioninsights.com/industry-reports/automated-fare-collection-afc-market/request-sampleGlobally, automated fare collection market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the AFC market.
Automated fare collections systems are increasingly used for local public transport, railways, taxi services and rental cars.
Strong economic growth and increasing infrastructure investment, particularly in the Asia Pacific region is expected to fuel market growth over the forecast period.
In addition, implementation of several infrastructure development project in the public sector and civil developments in the developing economies across the globe is expected to offer lucrative growth opportunities for industry participants in the upcoming years.Rise in research & development activities coupled with vertical integration among system providers and transit agencies are anticipated to pave a way for market growth in the near future.
Essentially it is a set of configurations and commands designed to protect and maintain the integrity, confidentiality, and accessibility of the networks and data through the incorporation of stringent software and hardware services.
With increasing risks in network infrastructure, large and small enterprises have started investing in the deployment of network security solutions to manage risks.
The benefit of network security solutions is that they reduce capital expenditures and enhance workforce productivity.However, the key factor restraining the market’s growth is the increased susceptibility of the devices to cyber-attacks and terrorism.
The growing incidences of these attacks have rattled the network infrastructure of several large and small organizations.
This can be attributed to the rising need to deploy advanced network solutions market due to the rising penetration of smartphones and connective devices.The Intrusion Prevention System segment is anticipated to grow at a CAGR of 27% over the forecast period, garnering a revenue of USD 67 billion by the end of 2027.Based on the segmentation into industry verticals, the government vertical is anticipated to hold the highest share of the network security market over the coming years.
This can be attributed to the increased use of mobility and increased use of mobile devices to enhance the productivity and workflow enhancement of the public sector departments.Based on the regional segmentation, the North American region is forecasted to grow at the highest rate during the forecast period, attributable to the rising incorporation of network security solutions on a large scale.North America is presumed to register a significant growth rate of 21% during the forecast period and garner revenue of USD 32 billion by 2027.
