Electric Vehicle Market Worth $1,212.1 Billion By 2027

The global electric vehicle market demand is expected to reach $1,212.1 billion by 2027, expanding at a CAGR of 38.1% over the forecast period, according to a study conducted by Grand View Research, Inc. The market is driven by initiatives taken by governments of various countries to promote manufacturing of Electric Vehicles (EVs). For instance, the Electric Vehicles Initiative (EVI), a multi-government forum, aims at increasing the adoption of EVs globally. As of now, there are thirteen countries participating in this forum, namely Canada, Chile, U.K., Germany, Sweden, Netherlands, Norway, Finland, France, China, Japan, India, and New Zealand. Several campaigns and programs have been launched under this forum such as the EV30@30 in 2017, which sets a target for 11 countries to have at least 30.0% sales of new EVs by 2030.

Rising investments in the EVs by numerous manufacturers is one of the key market drivers over the forecast period. For instance, in January 2020, General Motors announced its plan to invest USD 2.2 Billion in its Detroit plant to manufacture electric trucks and SUVs. The company plans to introduce over 20 EVs by 2023. Furthermore, in 2018, the demand for global electric cars surpassed 5 million units, more than 2 million units from 2017. China is considered as one of the major markets of electric cars along with Europe and U.S. However, lack of infrastructure is anticipated to hinder electric vehicle market growth over the forecast period.

Growing awareness regarding reduction of air pollution is propelling the demand for EVs during the forecast timeframe. EVs produce less carbon emissions as compared to conventional gasoline cars. It is estimated that EVs emit an average of 4,450 pounds of CO₂equivalents every year, which is almost half of the carbon emissions generated by conventional gasoline cars annually. Thus, EVs help in reducing air pollution and improve the air quality, thereby improving public health. This has led various government agencies promote the usage of electric vehicles. For instance, the U.S. Department of Transportation, Great Plains Institute, and Pollution Control Agency are working in tandem to accelerate the adoption of EVs in Minnesota, U.S.

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https://www.grandviewresearch.com/industry-analysis/electric-vehicles-ev-market

Further key findings from the report suggest:

The Plug-in Hybrid Electric Vehicles (PHEV) segment is projected to witness the fastest CAGR of over 45.0% in terms of revenue during the forecast period owing to the advantages of two power sources, electricity and fuel
The Battery Electric Vehicles (BEV) segment is expected to hold the largest market share of over 60.0% in terms of revenue in 2019. This share is attributed to the initiatives taken by government of countries such as Germany, Sweden, China, and India to promote the usage of EVs
Asia Pacific held a market share of over 60.0% in terms of revenue in 2019. However, Latin America is anticipated to witness the fastest CAGR of over 75.0% in terms of revenue during the forecast period. This growth is attributed to the growing environmental awareness among the citizens of Brazil
The electric vehicle market is consolidated and characterized by high competition with the presence of major global players such as BYD Company Ltd.; Daimler AG; Ford Motor Company; General Motors Company; Groupe Renault; Mitsubishi Motors Corporation; Nissan Motor Company; Tesla, Inc.; Toyota Motor Corporation; and Volkswagen Group. These companies are engaged in collaborations, mergers, and acquisitions to enhance their market presence and to expand their product portfolio

Civil Engineering Market Worth $13.35 Trillion By 2027

The global civil engineering market size is expected to reach USD 13.35 trillion by 2027, according to a new report by Grand View Research Inc. It is projected to exhibit a CAGR of 5.4% during the forecast period. Rising public-private partnership to aid the investment in infrastructure development in emerging economies is expected to bolster the growth.

Increasing adoption of advanced technologies and digitalization is expected to have positive impact on sustainable development of civil engineering value chain across the globe. These trends are expected to strengthen the network of players in the construction value chain and facilitate the digital transformation process, thereby driving the market for civil engineering.

Numerous market players are focusing on the use of green building products owing to the rising significance of eco-friendly products and energy efficiency. Thus, the shift of construction sector from the use conventional construction materials, is expected to heighten of importance of civil engineering for the successful execution of construction projects.

The government, private contractors, and public-private partnerships are the major buyers of civil engineering services for the development of residential and commercial projects, infrastructure projects, and industrial facilities. Rapid rise in service standardization and establishment of regulatory norms among major economies is anticipated to positively influence the market growth.

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https://www.grandviewresearch.com/industry-analysis/civil-engineering-market

Further key findings from the report suggest:

Planning & Design service segment is expected to expand at a CAGR of 6.1% over the estimation period owing to its rising significance in mega construction projects involving enormous capital investment for efficient and cost-effective operations
In 2019, real estate applications held the dominant market share of 41.9% on account of burgeoning demand for single family dwellings and multistoried apartments for rapidly rising population
The revenue from government sector stood at USD 3.63 trillion in 2019 and is projected to expand at a CAGR of 5.3% over the forecast period on account of rising government investments in infrastructure building in emerging economies
Asia Pacific accounted for a revenue share of 32.5% in 2019 and is anticipated to continue this trend over the forecast period, owing to rapid expansion of real estate sector along with infrastructure development in emerging economies, such as India and China

Continuous Peripheral Nerve Block Catheters Market Worth $292.8 Million By 2025

The global continuous peripheral nerve block (cPNB) catheters market is expected to reach USD 292.8 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.2% during the forecast period. Growing orthopedic surgery volumes resulting from the rising prevalence of osteoarthritis and increasing preference for ambulatory surgical centers are the key growth stimulants for the cPNB catheters market. According to the Healthcare Cost and Utilization Project (HCUP), over 546,000 total hip arthroplasty and 789,500 total knee arthroplasty procedures were performed in the U.S. in 2014. Of these, almost 70.0% of hip replacement operations are performed to relieve symptoms of osteoarthritis. This shows the potential demand for these devices in the coming years.

The rate of ambulatory surgeries is escalating due to a growing number of ambulatory surgical centers (ASCs), shortened recovery time, and continued improvements in regional anesthesia techniques. Costs of surgeries in ASC settings are approximately 60.0% less in comparison to those performed in hospitals. The recent inclusion of ambulatory surgeries for reimbursement of knee replacement surgeries by the Centers for Medicare & Medicaid Services in the U.S., along with the inherent benefits of cPNB usage, is likely to boost the demand for these catheters in the coming years.

On the competitive front, the leading players in this space are Pajunk GmbH and B. Braun Melsungen AG. Companies with wider distributor reach, larger product portfolio, and advanced technologies are seen to lead the space. Some other key players are Teleflex, Halyard, and Vygon, which are projected to have a stronger market presence by 2025. Less prominent players trailing behind include Ace Medical, Temena, Epimed International, and others.

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https://www.grandviewresearch.com/industry-analysis/continuous-peripheral-nerve-block-cpnb-catheters-market

Further key findings from the study suggest:

The ultrasound segment, based on the insertion technique, held the dominant share of 48.2% owing to associated advantages including improved block quality, faster and longer block duration, and a reduced dose of local anesthetic
Lower extremity surgeries represented the most prominent position in the market due to the increasing number of hip and knee replacement surgeries involving the use of cPNB catheters
The ambulatory surgical centers segment is estimated to exhibit a noteworthy CAGR during the forecast period. This can be attributed to related benefits such as shorter waiting list, quick discharge, reduced overall procedural cost, and treatment of a higher number of patients
Hospitals held 58.5% of the cPNB catheters market
Europe is anticipated to register a CAGR of 6.4% during the forecast period owing to the high number of surgeries performed in this region, which involve cPNB usage to manage postoperative pain.

Car Rental Market Size Worth $125.4 Billion By 2025

The global car rental market size is expected to reach USD 125.4 billion by 2025, registering a CAGR of 5.1% from 2019 to 2025, according to a new report by Grand View Research, Inc. High total cost of ownership (TCO) associated with personal vehicles and growth in the tourism industry across the globe are two main factors fueling the market.

Increasing number of smartphone users globally and rising dependency on technology for carrying out activities such as booking and paying for rental services have been vital to market growth over the years. A number of vehicle rental companies are rolling out apps to notify their customers about promotional offers, discount coupons, fare, real-time tracking, and availability. As customers demand availability of cars in minimal time, industry players are focusing on enhancing their service convenience and streamlining business processes by utilizing IoT-enabled fleet management solutions.

Industry participants compete with each other on the basis of fleet size, pricing, location flexibility, and marketing expertise. The market is highly competitive, forcing companies to shrink their profit margins in order to offer better services to customers than their competitors. High intensity of competition within the industry is also encouraging major players to acquire smaller companies in order to strengthen their position in the marketplace. Several prominent service providers have introduced their brands at affordable prices as a strategy to expand their customer base.

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https://www.grandviewresearch.com/industry-analysis/car-rental-market

Further key findings from the report suggest:

Along with reduction in fuel prices, there has been a considerable rise in number of international travelers worldwide, thereby resulting in rising demand for rental services
Rising consumer awareness regarding rental add-ons and availability of affordable solutions is compelling car rental market players to focus on enhancing their services and prioritizing customers’ convenience
Airport transport is anticipated to emerge as the largest application segment over the coming years, owing to a significant increase in number of air travelers across the globe. Numerous small companies are also entering this segment with new technologies and processes, further propelling the revenue generation prospects of the segment
‘Bleisure’ travel, which refers to a combination of a business and leisure trip, is one of the emerging and most promising trends in the travel and tourism industry. This trend is poised to propel the demand for car hiring and renting services among leisure and business travelers.

eClinical Solutions Market Worth $15.7 Billion By 2027

The global eClinical solutions market size is expected to reach USD 15.7 billion by 2027, according to a new report by Grand View Research, Inc., progressing at a CAGR of 13.8% during the forecast period. Increasing R&D activities by biopharma and pharma companies, application of software solutions in clinical trials, and expanding customer base are anticipated to fuel the demand for eClinical solutions.

Technological advancements such as electronic data capture and Wi-Fi connectivity are projected to drive the market in the forthcoming years. As the demand for tracking and analyzing clinical data increases, the need for effective clinical solutions rises. Unmet needs to manage efficient clinical development process are poised to boost the market over the forecast period.

Moreover, digital transformation in the field of clinical trials and preference for data centric approach are providing a tremendous push to the market. Demand for integrated clinical IT solutions is increasing due to massive volume of data generated during clinical development processes. eClinical solutions offer a single source of information that helps optimize the cost by eliminating redundant data entry and reducing on-site verification and source data verification. Rising awareness regarding these advantages is projected to propel the market.

Adoption of eClinical workflows in trials offers enormous potential in clinical development processes. These solutions can facilitate decision making in every stage of the development process. They also help reduce cost and time between development phases by utilizing seamless designs and by identifying failing compounds. In addition, it offers rapid access to data and patient safety information, which is helpful in making quick decisions.

Market players engage in new product development and strategic alliances, including partnership agreements, promotional activities, and acquisitions, to keep market rivalry high. For instance, in October 2017, Oracle entered into a collaboration with Healthx Inc. to provide SaaS solutions to healthcare payers for core administration and digital engagement.

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https://www.grandviewresearch.com/industry-analysis/eclinical-solutions-market

Further key findings from the study suggest:

CTMS led the eClinical solutions market by product in 2019 owing to benefits such as centralized end-to-end management of clinical trial activities, elimination of reliance on manual processes, real-time status tracking, and maintenance of multiple databases, which cumulatively improve the overall efficiency of clinical trials
By delivery mode, cloud-based systems are anticipated to exhibit the highest CAGR during the forecast period owing to integrated features such as flexibility, high accessibility, negligible handling costs, and easy data backup. Real-time data is available through these systems, which enables users to take quick decisions and provide high-quality information for risk-based monitoring
CROs held the largest share in the market in 2019 on the basis of end use. The segment is projected to expand at a remarkable pace during the forecast period owing to growing inclination of pharmaceutical companies to reduce overall expenditure
Key players operating in the market include DATATRAK International, Inc.; IBM Watson Health; Medidata Solutions Inc.; Oracle Corporation; BioClinica; PAREXEL International Corporation; CRF Health; OmniComm Systems Inc.; and ERT. Most companies engage in various business strategies such as mergers and acquisitions and new product development to gain greater market share.

Electric Vehicle Market Worth $1,212.1 Billion By 2027

Click the link below:
https://www.grandviewresearch.com/industry-analysis/electric-vehicles-ev-market

Further key findings from the study suggest:

The Plug-in Hybrid Electric Vehicles (PHEV) segment is projected to witness the fastest CAGR of over 45.0% in terms of revenue during the forecast period owing to the advantages of two power sources, electricity and fuel
The Battery Electric Vehicles (BEV) segment is expected to hold the largest market share of over 60.0% in terms of revenue in 2019. This share is attributed to the initiatives taken by government of countries such as Germany, Sweden, China, and India to promote the usage of EVs
Asia Pacific held a market share of over 60.0% in terms of revenue in 2019. However, Latin America is anticipated to witness the fastest CAGR of over 75.0% in terms of revenue during the forecast period. This growth is attributed to the growing environmental awareness among the citizens of Brazil
The electric vehicle market is consolidated and characterized by high competition with the presence of major global players such as BYD Company Ltd.; Daimler AG; Ford Motor Company; General Motors Company; Groupe Renault; Mitsubishi Motors Corporation; Nissan Motor Company; Tesla, Inc.; Toyota Motor Corporation; and Volkswagen Group. These companies are engaged in collaborations, mergers, and acquisitions to enhance their market presence and to expand their product portfolio

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.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/automotive-ecu-market

Further key findings from the report 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.

LED Driver Market Size Worth $11.31 Billion By 2025

The global LED driver market size is expected to reach at USD 11.31 billion by 2025, according to a new report by Grand View Research, Inc. The light-emitting diode driver market is projected to expand at a CAGR of 16.3% over the forecast period. LEDs have emerged as an energy-efficient alternative to traditional light sources in the last decade; thus, they have extensive demand in lighting and display segments across several industries. LED lighting is replacing the traditional lighting products due to their benefits, such as longer life, higher energy-efficiency, miniaturization, lower heat output, and directionality.

Moreover, rising demand for IOT-based connected lighting solutions due to the rising number of smart homes in developed countries will contribute to the LEDdrivermarket growth. Furthermore, governments of various countries have launched Smart City initiatives to improve the energy-efficiency of populated cities, which is anticipated to boost the market further. Demand for the constant current LED driver has witnessed exponential growth from 2015 to 2018; these drivers are widely used in high brightness and outdoor lighting applications.

The consumer electronics segment is the largest application segment in the market as LEDs have extensive demand in television and display panels applications. Many leading manufacturers are collaborating with other companies to deliver public lighting systems to cities around the world connected with remote management for energy saving and efficient maintenance. For instance, Philips Lighting N.V. has collaborated with Vodafone Limited to deploy IoT-based wireless Smart Street lighting across the globe.

There is a high demand for energy-efficient and highly reliable products with a smaller system package and lower cost for applications in the low- to mid-power range. To meet these requirements, manufacturers are incorporating Primary-Side Regulation (PSR) to lower the costs by eliminating secondary feedback circuitry and Power-Factor Correction (PFC) circuitry for higher power quality.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/led-drivers-market

Further key findings from the study suggest:

The constant current segment is anticipated to expand at the highest CAGR of 16.7% from 2019 to 2025. These type of drivers provide greater system reliability for general lighting applications
The application lighting segment is anticipated to witness the maximum CAGR of 18.6% over the forecast period
On the other hand, consumer electronics application segment is estimated to account for the largest market share by 2025
Asia Pacific led the market in 2018 and is projected to maintain the dominance throughout the forecast years due to stringent regulations across region, which fuel the demand for efficient lighting solutions
Key industry participants include AC Electronics; Atmel Corp.; Cree, Inc.; General Electric Company; Koninklijke Philips N.V.; Lutron Electronics Co.; On Semiconductor Corp.; and Osram GmbH