Automotive and Transportation Market Research Reports, Analysis & Trends
The automotive and transportation industry in the world is witnessing the most substantial transformations since the last decade. With the advent of technologies such as artificial intelligence (AI), internet of things (IoT), blockchain, and big data & analytics, the operations in the industry are becoming more shared and connected. Furthermore, information-centric approach is anticipated to play a crucial role in the future of this industry. As per the recent automotive and transportation market analysis, the revenue pool is expected to increase significantly in the forthcoming years, with the world shifting towards the adoption of on-demand mobility services. Some other significant automot Read More...The automotive and transportation industry in the world is witnessing the most substantial transformations since the last decade. With the advent of technologies such as artificial intelligence (AI), internet of things (IoT), blockchain, and big data & analytics, the operations in the industry are becoming more shared and connected. Furthermore, information-centric approach is anticipated to play a crucial role in the future of this industry. As per the recent automotive and transportation market analysis, the revenue pool is expected to increase significantly in the forthcoming years, with the world shifting towards the adoption of on-demand mobility services. Some other significant automotive and transportation industry trends include offering electrified and autonomous driving experience to the users that will require less to minimal human intervention. As of 2021, about 3 million units of light electric vehicles have been sold globally. Apart from these, shared mobility solutions are predicted to become more common. Coupled with growing levels of awareness regarding technological advances, the automotive sector is anticipated to observe a rising demand for upgradability in privately used vehicles as well. The automotive industry market size and growth is assessed to expand most rapidly in the Asia Pacific region, majorly in China, as it bags the title of the biggest car market in the world on the back of largescale automobile production. According to the International Organization of Motor Vehicle Manufacturers (OICA), 19.99 million cars were produced in China in 2020, up from 13.89 million cars in the year 2010. Europe is also forecasted to offer profitable growth prospects to the industry driven by the high production of commercial vehicles and surging sales of electric automobiles since the last few years. There were more than 6 million trucks registered on the European Union roads in 2018. The global industry on the other hand will be led by enterprises that that combine environment friendly technology with cutting-edge thinking. Additionally, car manufacturers, OEM original part manufacturers and auto-parts manufacturers are expected to observe tremendous amount of growth by utilizing digital technology trends that improve automobile utility and customer satisfaction. Although, the coronavirus outburst plunged the automotive sales to historic lows, the industry is now reviving at a faster rate than estimated. This can be credited to the consumer shift towards personal mobility over public and shared transport. However, key challenges hindering the industry growth remain increasing Y-o-Y unsold inventory, and high production cost as a result of inflation.
Kenneth Research offers comprehensive automotive and transportation industry analysis insights. Our automotive market research reports focus on a wide variety of areas including automotive materials, parts and supplies, electronics, coating and painting technologies, and passenger safety systems. We have expertise in conducting detailed automotive industry market research by analyzing the associated growth drivers, restraints and trends. With a wide collection of automotive and transportation market reports, we are adept at providing a glimpse of the competitive landscape and on-going bias. We have displayed expertise in providing premium automotive market research services and unprecedented automotive industry solutions catered for the specific needs of our clients.