How Electric Vehicle Prototyping is Beneficial in Cost Saving?

 In the race to bring electric & autonomous vehicles to the marketplace, most manufacturing companies are trying to increase the efficiency of their product development processes and get their next-generation concepts to market faster. The most automobile industry has moved away from the traditional trial-and-error methods and adopted prototyping that helps achieve optimum designs. Prototyping enables manufacturers to design vehicles by making informed & smart decisions, verifying & validating vehicle performance, and being prepared for manufacturing before starting the process.

The Global Electric Vehicle Prototyping Market is likely to grow at 43% CAGR during 2021-26. It owes to the burgeoning demand for electric vehicles and the constant need for adding new features as per different user requirements. Prototypes help vehicle manufacturers explore the scope of improvement, quickly improvise the product, and launch it in the market.

The major leading players in the Global Electric Vehicle Prototyping Market are 3ERP, ESI Group, TWI Ltd, Autodesk Inc., Carbon Design System Inc., Arm Ltd., Cadence Design System, Siemens Designs Software, PTC, ENCORE, Synopsis, Inc.

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We all know that the economic repercussions of the outbreak of Covid-19 last year. The pandemic also adversely affected the growth of the Electric Vehicle Prototyping Market across the globe, primarily owing to the drop in sales of electric vehicles. Further, lockdown imposition and the temporary shutdown of the manufacturing units caused supply chain disruptions and hindered the production capacity.

However, with the gradual upliftment of lockdown, the electric vehicle prototyping market has started growing significantly, owing to the rising inclination towards using online platforms, thereby increasing the sales of electric vehicles.

Direct innovation always includes a risk of failure. By building a prototype, manufacturers can quickly eliminate the approaches that don’t work and increase their focus on the ones that do. Hence, the demand for electric vehicle prototyping is surging significantly, thereby likely to propel the overall market growth in the coming years.

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How Surging Need for 5G and IoT for Vehicle Connectivity is Driving Automotive Cloud Market?

The Global Automotive Cloud market seems to grow at a CAGR of 18% during 2021-26. The growth attributes to the mushrooming deployment of technologies like cloud-based infotainment systems in premium vehicles, surging need for 5G, NB-IoT, Wi-Fi, Bluetooth solutions, IoT, and integration of blockchain in the cloud. The boosting e-mobility and emerging digitalization in the connected vehicle are promising lucrative opportunities for automotive cloud market growth in the forecast period.

Moreover, growing collaboration among companies for advancing technologies such as telematics and cloud solutions and increasing awareness of cloud benefits, such as cost-efficiency, high scalability & reliability, is imposing a significant influence on the market growth. Additionally, soaring advances in connected, autonomous, shared, and electric (CASE) technologies, soaring need for highly accurate cloud-based map services that support connected ADAS, and automated driving solutions are fueling the demand for the automotive cloud.

Within the Deployment segment, the Public cloud segment held a substantial market share in 2019. This growth was primarily due to the mounting volumes of data from several sensors, the increasing number of autonomous & connected cars, and the burgeoning adoption of the public cloud because it provides security, flexibility, and service quality maintenance at affordable costs.

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Private cloud accounted for considerable market share in 2019 due to the demand for private cloud among OEMs owing to rising security concerns & privacy issues. Moreover, the providers struggle to offer benefits, such as scalability & affordable service quality to OEMs, thereby restraining the segment growth further.

Within the Vehicle segment, commercial vehicles exhibited significant growth in 2019 due to robust growth in the e-commerce industry that has amplified the logistic & transportation sector, resulting in bolstering demand for commercial vehicles. Moreover, the launch of data-driven automobiles and advanced technology applications in commercial vehicles are soaring global market growth in the forecast period.

Passenger Vehicles accounted for the largest market share in 2019 owing to mushrooming customer’s inclination toward connected vehicles and autonomous driving. Moreover, sturdy deployment of advanced technologies to enhance customer experience and the increasing number of ride-sharing companies in the countries like China and India are fueling the market growth significantly.

The key industry leaders in the Global Automotive Cloud market are Verizon Communications, Inc., Ericsson AB, Airbiquity, Tomtom International, Blackberry Limited, Telenav, Visteon Corporation, Microsoft, Amazon Web Services, Inc., Harman International, Robert Bosch GmbH, Continental AG, Denso Corporation, Sierra Wireless, LG Electronics, etc.

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Increasing Sales of Autonomous Vehicles Is Catalysing the Growth of the Global Autonomous Vehicle Processor Market

The global autonomous vehicle processor market is anticipated to grow exponentially as autonomous vehicles are supposed to eliminate the risk of crashes and accidents. Moreover, rise in implementation of advanced technology and increasing government initiative to adopt autonomous vehicles as public transport aids to the significant growth of the market. Further, the entrance of tech manufacturers into the autonomous processor sector and autonomous vehicle platooning is expected to provide lucrative opportunities for the significant growth of the market. However, scarcity of advanced infrastructure in developing countries to support the autonomous vehicle market and high risk of hackers is the biggest challenge that could hamper the growth of the autonomous vehicle processor market.

The outbreak of the coronavirus pandemic has negatively impacted the global autonomous vehicle processor market due to lockdown imposition and government policies to temporarily shut down the manufacturing units leading to disturb the supply chain and production capacity. However, post outbreak of COVID-19, there is rise in inclination towards usage of online platforms leading to increase the sales of the autonomous vehicle. Also, as the market resumes, the global autonomous vehicle processor market is going witness positive growth steadily in the forthcoming timeline.

On the basis of region, North America is anticipated to be the fastest growing region in the global autonomous vehicle processor market during the forecasted period owing to rising government initiatives to adopt autonomous vehicles on the public road. Further, Europe is the second fastest growing region due to changing consumer preference to adopt technologically advanced and high-performance products.

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The key players with a considerable market share in the Global Automotive Vehicle Processor market are NXP Semiconductors N.V., Intel Corporation, Tesla, Inc., BASF SE, NVIDIA Corporation, Texas Instruments Incorporated, KALRAY Corporation, Renesas Electronic Corporation, Qualcomm Technologies, Inc, Xilinx, Inc., Hailo Technologies Ltd, Ambarella, Inc., AImotive, Others, are few of the leading players in the Global Automotive Vehicle Processor Market.

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Increasing Government Initiative to Promote Electric Vehicles is Propelling the Growth of South Africa Solar e-Vehicle Charging Infrastructure Market

 

The South Africa e-Vehicle Charging Infrastructure market is experiencing positive growth over the last few years on account of escalating partnership agreement among charging station infrastructure and EV management systems firm,  increasing government initiative such as Green Transport Strategy of the national Department of Transport to promotes introduction of electric and hybrid-electric vehicles, along with spur in government spending towards the development of highway and road connectivity and launch of electric vehicle charging stations by the market players.

 

Moreover, burgeoning investment in infrastructure development, introduction of various funding scheme by the government in order to drive EV charging infrastructure and boost international trade by introducing tax exemptions on imported electric vehicles to reduce the environmental impact by curbing the carbon emission are the major factors proliferating the growth of market in the forthcoming years. Besides these, the South African Automotive Masterplan 2035 to increase localisation rate of 60% along is expected to accentuate the growth of the market in the coming years.

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However, the COVID-19 pandemic has impacted the market growth due to disruption in the supply chain, sharp decline in the demand for electric vehicle, temporary closure of the unit and halt on the ongoing projects of EV charging infrastructure. The market is estimated to witness substantial growth once the economy revives.

 

Based on Application, Roads & Highways is anticipated to attain highest CAGR by 2026 in the South Africa Solar e-vehicle charging infrastructure. The growth of the segment is attributed to burgeoning investment by the government in road infrastructure, rapidly increasing electric vehicle market on road and expansion of Intelligent transport systems to a larger part of the road network.

 

The key players with a considerable market share in the South Africa include ABB, Schneider Electric, Eaton Corporation, Siemens AG, Leviton Manufacturing Co., Inc., Others etc.

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