Automotive Electronic Control Unit Market Worth $84.29 Billion By 2025

The global automotive electronic control unit market size is expected to reach USD 84.29 billion by 2025, growing at a 4.4% CAGR over the forecast period, according to a study conducted by Grand View Rese0arch, Inc. The increasing demand for hybrid and luxury vehicles, rising deployment of infotainment systems, and growing preference for ADAS and automated safety systems are fueling the demand for automotive electronic control units (ECUs). Additionally, a growing number of functionalities to control several electronic components in the vehicle such as, dashboard instruments, engine, telematics, and powertrain, has also resulted in significant growth in the average number of ECUs used per vehicle.

Moreover, the governments and regulatory bodies are mandating the installation of several safety systems in a vehicle, such as adaptive cruise control, adaptive front lighting, and anti-lock braking system, among others, to increase road safety. Recently, the AUTOSAR Alliance has been formed to standardize the approach of the designing and developing of layers between ECU hardware and application software. Additionally, in April 2016, the European New Car Assessment Programme (NCAP) was launched to reduce the risk of accidents by mandating the integration of lane-departure warning and anti-lock braking systems in vehicles during their production phase. This is anticipated to make the integration of hardware and software more scalable and flexible.

Furthermore, the automotive ECU market directly depends upon the automotive production across the globe. Thus, the increasing automotive production across emerging economies would fuel the demand for automotive ECUs over the forecast period. Several government initiatives to mandate the installation of advanced safety systems in vehicles, coupled with the growing preference of consumers for luxury and hybrid vehicles are the key factors boosting the research & development spending on automotive ECUs. For instance, In October 2017, NXP Semiconductors N.V. revealed NXP S32 platform, an all-new control and compute concept for electric, autonomous and connected cars.

The Asia Pacific region dominated the market in 2018, a trend that is expected to continue over the forecast period. This is attributed to the significant investments in the automotive industry in emerging countries, such as China, South Korea, Japan, and India. Additionally, the Chinese market is estimated to reach USD 36.65 billion by 2025, growing at a CAGR of 9.5% from 2019 to 2025. Continuous technological innovations to reduce the ECU count per vehicle is also expected to create substantial opportunities in the Asia Pacific region.

The North American market is projected to expand at a considerable CAGR over the forecast period owing to several regulations and declarations made by the governments in the region to positively influence the demand for electric vehicles. For instance, the Californian government has set up a target of reaching 1.5 million zero-emission vehicles, thus boosting the regional demand.

Some of the key players operating in the market are Altera (Intel Corporation), Autoliv Inc., Continental AG, Delphi Technologies, Denso Corporation, Hyundai Mobis, NXP Semiconductors N.V., Robert Bosch GmbH, Valeo Inc., and ZF Friedrichshafen AG, among others. The global automotive ECU market is consolidated with the presence of a few players holding a majority share of the market.

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https://www.grandviewresearch.com/industry-analysis/automotive-ecu-market

Further key findings from the study suggest:

The ADAS & safety systems application segment is anticipated to dominate the automotive electronic control unit market owing to stringent government regulations and rising consumer awareness pertaining to safety features in vehicles. The segment is estimated to reach USD 27.6 billion by 2025.
The Internal Combustion Engine (ICE) vehicles segment is estimated to hold a majority share of the market owing to the increasing production of vehicles in emerging economies.
The 32-bit segment held the largest market share of 91.0% in 2018. This share is expected to decline over the forecast period due to the rising demand for 64-bit ECUs to integrate advanced electronic functions in the vehicle.
The passenger car segment held the largest market share of 86.9% in 2018. This share is estimated to increase over the forecast period owing to the growing consumer preference for luxury and hybrid vehicles with advanced electronic and safety systems.
The Asia Pacific regional market is estimated to account for 62.8% of the overall automotive ECU industry in 2018, owing to the increasing production of vehicles in emerging economies, such as China, India, South Korea, and so on.
Prominent market players include Autoliv, Inc., Delphi Technologies, Denso Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG.

U.S. Automotive Aftermarket Size Worth $86.2 Billion By 2025

The U.S. automotive aftermarket size is expected to reach USD 86.2 billion by 2025, registering a 1.8% CAGR from 2019 to 2025, according to a new study by Grand View Research, Inc. The market is expected to grow owing to the rising adoption of automotive technologies such as exhaust and safety technologies coupled with other aspects influencing vehicular performance. The market is estimated to remain innovation-led with the introduction of new chemicals and metals that provide cost-efficiency and weight reduction in automobiles. In addition, the increasing vehicle parc and vehicle age in the U.S. are expected to contribute to the growing demand for replacement parts, thus driving market growth in the country.

Rising disposable income in the U.S. is creating a positive growth outlook for the sales of passenger cars. The increasing demand for aftermarket parts is directly proportional to the growing sales of passenger cars. Moreover, factors such as developing infrastructure and increasing adoption of modern lifestyle across the country are contributing to the growth of automotive aftermarket. Technological proliferation and high investments in R&D by automakers are expected to further drive demand for automotive aftermarket components over the forecast period. Furthermore, increasing trade activities of goods and materials via road transportation are expected to fuel the demand for heavy commercial vehicles. This, in turn, is likely to result in the high demand for products such as tires, towing, wheels, and other miscellaneous accessories, thereby contributing to the market growth in future.

Efforts taken by vendors to make aftermarket products available in adequate quantities and improve the quality of recycled products have contributed to the high demand for alternative parts such as engines; door assemblies; transmissions; sheet metal products such as fenders, trunk lids, and hoods; bumpers; and lights assemblies. In addition, maintaining a high inventory level and wide distribution network allows higher fulfillment rates, which is also boosting the sales of alternative parts. However, the increasing adoption of hybrid and electric vehicles is hampering the growth opportunities for automotive aftermarket components, mainly exhaust components. As a result, the threat of substitutes for aftermarket parts is expected to remain high over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/us-automotive-aftermarket

Further key findings from the report suggest:

The rise in sales of automobiles, increased purchasing power, and improved standard of living are expected to drive growth for the automotive aftermarket industry.
Increasing consumer awareness regarding environment protection and the use of environment-friendly products with minimum carbon footprint deliver positive growth prospects for the market
The tire segment is anticipated to dominate the market by 2025 on account of frequent changing of tires in comparison to their automotive component counterparts
The automotive aftermarket is shifting toward the automation of various functions and processes as automation increases accuracy, enhances efficiency, improves workplace safety, and reduces human errors
The trend of combining Industry 4.0 with information technology and operational technology has resulted in a landscape governed by supply chain digitalization, creating a sustainable impact on the automotive aftermarket industry

Two Wheeler Hub Motor Market Size Worth $16.9 Billion By 2027

The global two wheeler hub motor market size is expected to reach USD 16.9 billion by 2027, expanding at a CAGR of 9.7%, according to a study conducted by Grand View Research, Inc. Increasing demand for electric two-wheelers and stringent government regulations for reducing the carbon footprint is projected to market growth. Furthermore, improved vehicle performance, reliability, and driving range are some factors that are projected to influence the demand for hub motors over the next seven years.

The increasing rate of environmental degradation through vehicular emissions has become a key concern for governments across the globe. Therefore, several governments are taking steps to promote the shift from traditional vehicles to eco-friendly transportation. Hence, the government has announced incentives on road tax, purchase tax, import tax, and low or zero registration fee for electric two-wheelers for both manufacturers and end-users. Moreover, substantial investments from automakers are estimated to cater to the increasing demand for electric two-wheelers. This, in turn, is expected to play a crucial role in the evolution of the market.

Asia Pacific dominated the two wheeler hub motor market in 2019 and is expected to continue its dominance over the forecast period. The region is majorly driven owing to the presence of electric two-wheeler and motor manufacturers in China. The country accounts for over 70.0% of the overall electric two-wheeler market in the region. Moreover, the growth in the electric two-wheeler industry in India, South Korea, and Japan is anticipated to trigger the demand for in-wheel motors.

Furthermore, several government regulations to promote the adoption for electric two-wheelers is one of the vital factor influencing the regional market growth. For instance, in 2018, the government of India increased financial support valued at USD 1.3 billion for electric vehicles under its FAME II program. The step was aimed at providing the demand-side incentives for electric two-wheelers, three-wheelers, cars, and buses. Such initiatives are anticipated to fuel the growth of the market from 2020 to 2027.

The market is fragmented in nature owing to the presence of several key manufacturers. However, the prominent electric two-wheeler manufacturers usually undergo strategic agreements with their suppliers to bridge the demand and supply gap of the industry. Some of the significant manufacturers in the market are NTN Corporation; Robert Bosch GmbH; QS Motors; and Schaeffler Technologies AG & Co. KG.

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https://www.grandviewresearch.com/industry-analysis/two-wheeler-hub-motor-market

Further key findings from the report suggest:

The electric bike segment is expected to dominate the market in 2019 and was valued at USD 4.6 billion in 2019 owing to growing penetration of electric bikes
The rear hub motor segment dominated the market and is anticipated to reach USD 15.7 billion by 2027. The high-power in-wheel motors are suitable for rear wheel installation as majority of the passenger weight is handled by the rear wheel. Hence rear hub motor provides better traction on the rear wheel
The market primarily includes power output such as below 1 kW, (1-3) kW, and above 3 kW. The below 1 kW segment dominated the market in 2019 and is projected to witness a CAGR of 9.1% from 2020 to 2027. These motors are best suited for electric bicycles, electric skateboards, and electric kick scooters
Asia Pacific is projected to account for majority share of the market over the forecast period due to the presence of majority electric two-wheeler and hub motor manufacturers. The region is anticipated to reach USD 9.4 billion by 2027
The prominent two wheeler hub motor market participants include QS MOTOR, Heinzmann GmbH and Co. KG., Robert Bosch GmbH, Schaeffler Technologies AG and Co. KG, and NTN Corporation

Smart Parking Systems Market Size Worth $14.3 Billion By 2027

The global smart parking systems market size is expected to reach USD 14.3 billion by 2027, registering a CAGR of 17.4% over the forecast period, according to a new report by Grand View Research, Inc. An anticipated upsurge in demand for these systems for transport transit and commercial applications is expected to drive the growth in the market. Rising demand for hassle-free parking coupled with the advances in technology are anticipated to propel market growth over the forecast period.

Favorable government initiatives and increasing public sector funding to roll out solutions aimed at addressing traffic congestion issues are anticipated to drive the market. Furthermore, the inclusion of sophisticated features, such as voice guidance and auto-payment options enabled through smartphone apps, are also projected to fuel the growth of the market. Various parking lots are integrating Automatic Number Plate Recognition (ANPR) systems to effectively manage vehicle at parking areas and access control systems.

Ensuring adequate parking space is turning out to be a challenge for civic administrations as the number of automobiles continues to increase. The demand for intelligent systems is rising across the globe as a result. These systems can effectively address traffic congestion issues and space-related concerns. They can also open potential opportunities for reusing commercial and municipal areas and garages, thereby reducing fuel consumption, curtailing vehicular emissions, and subsequently making the cities cleaner and greener.

However, a looming lack of funding initiatives as well as organizational awareness about the advantages associated with smart parking, particularly in underdeveloped regions, is anticipated to restrain the growth of the market over the forecast period. Moreover, the non-availability of supporting infrastructure in these regions is further hampering market growth. The high implementation cost of these systems is anticipated to act as a challenge for smart parking systems industry growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/smart-parking-system-market

Further key findings from the report suggest:

The hardware segment is expected to continue its dominance over the forecast period due to the decisive role various hardware components play in detecting the presence of the vehicles in parking slots
The signage segment is expected to grow significantly over the forecast period, as signage can help in preventing confusions and the resultant mishaps by guiding drivers in appropriate directions.
The parking guidance system uses communication, traffic monitoring, and processing and variable message sign technologies to guide vehicle drivers to available spaces
The consulting services segment is expected to witness significant growth over the forecast period. Consulting services envisage providing an analysis of the volume of traffic that needs to be managed and recommending potential solutions according to the need
Off-street segment dominated the market as it offers easy and swift pay-and-park solutions, which can distribute tickets automatically, thereby reducing congestions at entrances.
The government segment is expected to witness phenomenal growth owing to the increasing need for managing on-road vehicles and minimizing fuel emissions
The European region is anticipated to continue its dominance over the forecast period. The continued interest of automobile manufacturers in the region in developing intelligent parking systems is anticipated to drive the growth of the regional market.
On-demand valet parking coupled with the increasing demand for parking management systems at public venues,including shopping malls and sports complexes, in countries, such as Japan and China, is expected to fuel the demand for these systems in the Asia Pacific region.
The key players in the market include Amano McGann, Inc.; SKIDATA AG.; Parkmobile LLC; ParkMe, Inc.; Robert Bosch GmbH; and Nedap N.V.

Vehicle Electrification Market Size Worth $125.12 Billion By 2025

The global vehicle electrification market is anticipated to reach USD 125.12 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for electrification in transport automobiles is increasing owing to social influence and acceptability to shift in favor of electrification via lowered usage of petroleum to energy-efficient vehicles. Moreover, regional legislation policies and regulatory efforts globally on strengthening CO2 emissions standard have been immensely contributing to the growth of the market.

Integrated Starter Generator (ISG) product is expected to gain traction over the forecast period. The application of ISG in the vehicles helps the engine to instant and silently restart after the idle or traffic stop when the engines shut down to reduce emission and save fuel. ISG achieves vibration and noise-reduced operation improving the automobile comfort for the user. Further, ISG optimizes the electric energy by reducing the load of the engine which further drives the content of an electronic solution in the vehicle. The integrated starter generator in the automobile has significant influence to start the engine under extremely low-temperature conditions.

The demand for integrated started generator product type was valued at USD 4.97 billion in 2016 and is expected to reach over USD 11.16 billion by 2025.

The internal combustion engine (ICE) & micro-hybrid vehicle is one of the largest segment in hybridization type. The growth of ICE & micro-hybrid automobiles is attributed to mechanical integration which yields significant fuel economy when it is idle in traffic or at a signal. Moreover, to meet the growing environmental challenges which are posed by several emission legislations automakers have developed various eco-solutions in the conventional ICE.

Increasing user demand for eco-friendly solutions and stringent emission regulations are a few key factors that are expected to impact the growth of internal combustion engine & micro-hybrid vehicles in the market over the forecast period. The internal combustion engine & micro-hybrid vehicle segment is anticipated to grow at a CAGR of 7.8% from 2017 to 2025.

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https://www.grandviewresearch.com/industry-analysis/vehicle-electrification-market

Further key findings from the study suggest:

The global vehicle electrification market accounted for USD 58.92 billion in 2016 and is expected to grow at a CAGR of 9.1% from 2017 to 2025
Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle emerged as the largest segment in 2016 and is estimated to generate revenue of over USD 70.68 billion by 2025.
The BEV hybridization segment is anticipated to witness moderate growth over the next eight years.
The electric vacuum pump within the product segment is estimated to reach over USD 17.75 billion by 2025
The Asia Pacific market is projected to witness substantial growth over the next decade owing to the growing adoption of vehicle electrification methods among the automobile sector on a large scale. The regional market is expected to grow at a CAGR of 8.5% from 2017 to 2025.
Key players include Robert Bosch GmbH, Continental AG, Denso Corporation, Delphi Automotive PLC, Johnson Electric, and Mitsubishi Electric Corporation, accounting for a majority share of the overall market in 2016

Field Programmable Gate Array Market Size Worth $18.8 Billion By 2027

The global field programmable gate array market size is anticipated to reach USD 18.8 billion by 2027, registering a CAGR of 9.7% over the forecast period, according to a new report by Grand View Research, Inc. The increased adoption of field programmable gate array (FPGA) across networking, data center, and Internet of Things (IoT) is projected to drive the industry growth over the forecast period.

Growing application of the FPGAs in the aerospace and military sector to develop drone systems for flight control, sensor interfacing, and image processing is driving the industry growth. Flash-based field programmable gate arrays are resistant to radiation-induced configuration shocks and also offer efficient functionality at high altitudes. The flash segment is anticipated to witness a substantial growth over the forecast period, owing to their abilities of consuming less power and delivering security, safety, and reliability throughout the design and deployment process.

Companies are largely seen to be leveraging the power of field programmable gate arrays to develop Artificial Intelligence (AI) based solutions for automotive applications. For instance, in June 2018, Xilinx, Inc. collaborated with Daimler AG to help the deep learning professionals from the Mercedes-Benz R&D centers for developing AI algorithms on the Xilinx adaptable acceleration platform. The automotive segment is likely to fully exploit the capacities of the FPGAs for deploying neural networks for intelligent vehicle systems and optimizing battery management, power conversions, and electric motor control systems of the Electric Vehicles (EV) and Hybrid-Electric Vehicles (HEV).

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https://www.grandviewresearch.com/industry-analysis/fpga-market

Further key findings from the report suggest:

The FPGA market is anticipated to witness a noteworthy growth over the forecast period owing to increased usage of FPGAs in EVs, vehicle networking and connectivity, self-driving cars, and automotive infotainment.
The SRAM technology segment is expected to witness significant growth over the forecast period owing to its features including greater logic density, better performance, non-volatility, and its manufacturing simplicity.
The FPGAs used in the consumer electronics sector generated a revenue of over USD 1.0 billion in the year 2019, due to growing adoption of digital displays, televisions, cameras and camcorders, eReaders, and set-top boxes for households.
The Asia Pacific region is expected to witness a substantial growth from 2020 to 2027 due to increase in sale of consumer electronics, especially smartphones, in countries like China and India, and growing number of data centers in the region.
Xilinx, Inc.; Intel Corporation, Microsemi Corporation; Texas Instruments; Lattice Semiconductor Corporation; and Taiwan Semiconductor Manufacturing Company are some of the key players in the FPGA market.

Automotive Cyber Security Market Size Worth $5.56 Billion By 2025

The global automotive cyber security market size is expected to reach USD 5.56 billion by 2025 expanding at a CAGR of 21.4% during the forecast period, according to a study conducted by Grand View Research, Inc. Increasing risks of data breaching due to rise in number of connected and automated vehicles will drive the market. Moreover, growing emphasis of OEMs on strengthening cyber security policies is expected to propel the demand for automotive cyber security over the projected period. Cloud infrastructure, mobile cross platforms, and automotive data taxonomy, are the key connectivity trends in the automotive cyber security market.

Technological advancements pertaining to network connectivity in autonomous vehicles are gaining traction owing to increasing data and volume of data exchange, which is also likely to contribute to the market growth. Moreover, onboard electronic information-control systems like tire-pressure, electric power steering, fixed-speed cruise control, and auto-braking sensors have become mandatory across all the vehicle categories. Other sophisticated systems are also making their way into automotive electronics applications, such as infotainment, ADAS, navigation, powertrain, and safety systems. This, in turn, would further increase the vehicle-to-everything communication, thereby creating lucrative growth opportunities for the market in automotive sector.

North America is the largest regional market due to increasing demand for autonomous vehicles and quick adoption of new technologies like smart antenna and connected car systems. Moreover, rising investments and stringent measures taken by the government towards incorporating cyber security policies for the automotive market have bolstered the regional market growth. Some of the prominent industry participants include Vector Informatik GmbH, Arilou Technologies, NXP Semiconductors N.V., Argus Cyber Security Ltd, ESCRYPT, Continental AG, and HARMAN International.

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https://www.grandviewresearch.com/industry-analysis/automotive-cyber-security-market

Further key findings from the report suggest:

The passenger car segment in Europe is expected to account for 77.1% by 2025 due to rising production of Electric Vehicles (EVs), development and implementation of cyber security strategies, eco-friendly initiatives, and growing scope of data exchange
Infotainment application led the market in China due to quick adoption of advanced vehicle technologies
Wireless network security segment is expected to account for the largest share of the global automotive cyber security market by 2025
Emphasis of OEMs on capabilities offered by connected car systems that have enabled a broad range of service and features contributes to growth of the market in developed economies

Electric Vehicle Battery Market Size Worth $38.6 Billion By 2025

The global electric vehicle battery market size is expected to reach USD 38.6 billion by 2025, registering a CAGR of 16.7% from 2019 to 2025, according to the new report from Grand View Research, Inc. The growing preference for e-mobility and the subsequent rise in the popularity of electric vehicles (EVs) is expected to drive the market growth. Several countries have taken a lead in deploying various EVs, including two wheelers, buses, and other commercial vehicles.

Increasing efforts to reduce the production cost of electric vehicle batteries is prompting manufacturers to invest in developing countries, including China, India, and Mexico. Having realized the potential for economic development in emerging economies, some large plants for manufacturing batteries have already been planned in Asia Pacific. At the same time, the rising fuel prices coupled with increasing environmental concerns are prompting several governments to encourage the adoption of EVs.

EVs require more battery power because apart from functions, such as GPS navigation system, power windows, air-conditioning systems, and dashboard displays, which are powered by a battery, their entire drivetrain is dependent on battery power. Advances in battery technology have led to the advent of batteries that can cater not only to the conventional battery-driven functions but also to the drivetrain. Such favorable advances in battery technology are expected to drive the market growth.

In several metropolitan cities across the world, city administrations are drafting policies to support the deployment of electric vehicle supply equipment (EVSE) and rollout of adequate charging stations. For instance, in the Netherlands, the metropolitan area of Amsterdam has adopted a demand-based approach for deploying its EVSE network and making it accessible to owners of EVs. Similarly, a multi-government policy forum named Electric Vehicle Initiative (EVI) was established in 2009 under the Clean Energy Ministerial (CEM) to monitor and encourage the adoption of EVs across the globe. The International Energy Association (IEA) is serving as the EVI coordinator.

At present, EVs account for a relatively smaller share in the overall automobile sales. However, favorable regulatory initiatives are expected to trigger the adoption of EVs and subsequently open growth opportunities for the market for over the forecast period. For instance, the Paris Agreement endorsed by the European Union, the U.S., and Japan to support zero-emission vehicles is conducive to an increase in the sales of EVs.

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https://www.grandviewresearch.com/industry-analysis/electric-vehicle-battery-market

Further key findings from the study suggest:

Continued efforts by automotive manufacturers to produce more vehicles with electric drivetrains is necessitating the use of lithium-ion batteries for onboard energy storage
The battery electric vehicle (BEV) segment dominated the market in 2018 and is expected to continue being the largest segment over the forecast period. The plug-in hybrid electric vehicle (PHEV) segment is anticipated to register the highest CAGR over the forecast period
Companies based in Europe and North America have entered the Chinese market either by setting up manufacturing units in China or by striking strategic partnerships with Chinese companies
The evolving automotive industry in Indonesia, Mexico, India, Vietnam, and Thailand bodes well for the market growth over the forecast period
Advances in battery technology coupled with the growing preference for hybrid vehicles and zero-emission EVs are expected to drive the electric vehicle battery demand over the forecast period
The electric vehicle battery market growth largely depends on the policies drafted by governments and government agencies to encourage the adoption of EVs and deployment of charging infrastructure.

P2P Electric Vehicle Charging Market Size Worth $351.7 Million By 2027

The global peer-to-peer electric vehicle charging market size is expected to reach USD 351.7 million by 2027, registering a CAGR of 21.8% from 2020 to 2027 according to a new report by Grand View Research, Inc. To eliminate the range anxiety issues of electric vehicles, various governments are emphasizing on the provision of funds for the development of peer-to-peer networks. For instance, the U.S. government has established the Northeast Corridor Regional Strategy, under which it is providing support for various activities to enhance their Electric Vehicle (EV) charging infrastructure. Under the strategy, the government is providing support for the development of public charging stations and peer-to-peer EV charging networks.

The growing emphasis of various governments, Original Equipment Manufacturers (OEMs), and automobile companies on enhancing the performance of charging solutions by including features such as Vehicle-to-grid (V2G) and blockchain payments, bodes well for the growth of the market. For instance, in 2016, the Government of Netherlands provided funding worth USD 180.3 billion for enhancing electric vehicle supply equipment, including peer-to-peer networks to companies including BMW AG and Eaton Corporation. Various OEMs and EV manufacturers are looking to strengthen the interoperability of charging infrastructure and electric vehicles, and that is expected to enhance the P2P networks. Additionally, various governments have mandated the allocation of space for electric vehicle charging in parking spaces of residential complexes, which is likely to provide lucrative opportunities to the market. For instance, in January 2019, the Government of India has mandated residential and commercial complexes to allot 20% of their parking space for electric vehicle chargers. However, in 2020, the growth of the market is likely to be impacted by the outbreak of COVID-19 that resulted in shifting focus of the governments on the provision of healthcare services.

Various utilities and charging station operators are collaborating for the expansion of peer-to-peer EV charging networks, which is further driving the market growth. For instance, in November 2017, Enexis Netbeheer B.V., innogy, and Vorarlberger Kraftwerke, among others, collaborated to launch the Oslo2Rome project. The Oslo2Rome project focuses on the developing P2P network, enabling EV drivers to access private and public charging stations along the Oslo to Rome highway. Furthermore, the increased number of automotive manufacturers emphasizing the development of peer-to-peer networks bodes well for market growth. For instance, in August 2016, Groupe Renault under its Elbnb campaign for the development of P2P networks across Sweden.

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https://www.grandviewresearch.com/industry-analysis/peer-to-peer-electric-vehicle-charging-market

Smart education and learning market report highlights:

The Level 1 charger segment is anticipated to expand at the highest CAGR during the forecast period, on account of increasing number of multi-unit dwellings installing Level 1 charging stations.
The commercial segment is projected to register the highest CAGR over the forecast period owing to companies such as The Coca-Cola Company and General Motors focusing on making EV charging stations at their facilities open to public
The European electric utilities such as Copenhagen Electric and Stromnetz Hamburg are collaborating to deliver e-roaming services to EV drivers through projects such as evRoaming4EU that bodes well for the growth of market in the region

Brushless DC Motor Market Worth $27.2 Billion By 2027

The global brushless DC motor market size is expected to reach USD 27.2 billion by 2027, registering a CAGR of 6.6% over the forecast period, according to a study conducted by Grand View Research, Inc. These motors are thermally resistant, require low maintenance, and operate at low temperatures, eliminating any threat of sparks.

Low maintenance costs, retrofitting of existing air, high-efficiency at lower costs, and the rising adoption of electric vehicles are some of the key factors driving their growth over the forecast period. The emergence of sensor-less controls for brushless DC type is likely to boost the durability and reliability of the product, thereby reducing the number of mechanical misalignments, electrical connections, as well as the weight and size of the end product. These factors are further estimated to drive market growth over the forecast period.

Furthermore, production of vehicles, globally, in order to cope up with the rising demand for vehicles internationally is anticipated to further impact market growth. Brushless DC motors are extensively used in motorized vehicle applications such as in sunroof systems, motorized seats, and adjustable mirrors. Additionally, these powertrains are extensively being preferred for performance applications in vehicles such as chassis fittings, power-train systems, and safety fittings owing to simple structure, less maintenance requirements, and extended operational life. Increasing product adoption by the automobile industry in numerous vehicles for multiple applications is anticipated to drive the growth of the market tremendously over the forecast period.

Electric vehicles extensively use brushless DC motors in mechatronic systems primarily in batteries for accumulators and power electronic converters. This is owing to advantages such as high operating speed, compact size, and quick response time. Production of electric vehicles is on rise globally supported by government initiatives to encourage use of non-conventional fuels and effectively reduce the adverse impacts of carbon emissions. The increasing electric vehicle production is anticipated to directly impact the demand for brushless motors over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/brushless-dc-motors-market

Further key findings from the report suggest:

On account of benefits including durability and less maintenance, the brushless DC motor captured a substantial market share in 2019, a trend that is anticipated to continue over the forecast period.
The 0 – 750 Watt segment is expected to witness rapid growth from 2020 to 2027, which can be primarily ascribed to their extensive applications in numerous motorized vehicles and household devices applications
Motorized vehicles extensively use the powertrain for variety of applications. Increased production of automobiles and e-vehicles across the globe is anticipated to positively impact the growth of the segment over the forecast period
The industrial machinery segment held more than 20% of the global brushless DC motor market share in 2019. Numerous industrial machines deploy the motor owing to advantages offered such as high efficiency, low power consumption, and low maintenance costs
Asia Pacific is expected to emerge as the fastest-growing regional market, whilst registering a CAGR 8.0% over the forecast period. Increasing industrialization in developing nations such as China, India, and South Korea has fueled the regional market
The key players capturing major market share include ABB Ltd; Ametek Inc.; Johnson Electric; and Nidec Motor Corporation. Numerous companies are focusing on developing low-maintenance and eco-friendly products in order to gain a competitive edge.