Passenger Car to Lead Global Automotive Brake Components Market till 2024

Aging vehicle fleet, increasing regulations, and growing production and sales of automobiles to drive global automotive brake components market through 2024

According to TechSci Research report, “Global Automotive Brake Components Market By Product Type, By Vehicle Type, By Sales Channel, By Region, Competition, Forecast & Opportunities, 2024”, automotive brake components market, globally, is forecast to reach $ 117 billion by 2024, owing to increasing demand for automobiles. Moreover, growing demand for high-speed vehicles, backed by surging need for occupant safety, is propelling growth of global automotive brake components market during the forecast period. Moreover, latest trends, such as autonomous driving, electrification, new mobility and light weighting are compelling component manufacturers to develop braking system compatible products in a bid to remain in alignment with the current novelties in braking technology.

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Global automotive brake components market can be segmented based on vehicle type, product type and sales channel. Passenger car is the dominant segment in the automotive brake components market, owing to their high production and sales volume. In terms of product type, the market can be segmented into brake caliper, brake shoe, brake line and brake pad. Increasing use of disc brakes in front and rear braking applications of passenger vehicles is driving the brake pad and brake caliper segment. In terms of Sales Channel, Replacement has acquired the major share in global automotive brake components market in 2018 and is expected to maintain its dominating market position in coming years.  

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ZF Friedrichshafen AG, Continental AG, Federal-Mogul Holdings LLC, Hitachi Automotive Systems, Ltd., Nisshinbo Holdings, Akebono Brake Corporation, Hitachi Automotive Systems, Ltd., etc. are the leading players operating in global automotive brake components market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their market penetration. Surging popularity of automobiles is pushing the companies to focus on improving the design and functionality of vehicles. In 2017, Continental AG developed an innovative brake design, in which brake discs are mounted on component carrier star instead of rim.

“Growing demand for smoother and quieter brakes can be attributed to growing share of brake pads. Increasing sales of SUVs in North America and Europe as well as their use in off-terrains are boosting their demand for robust braking systems. Moreover, government initiatives for automotive production in economies such as China and India are boosting the growth of global automotive brake components market through 2024.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Automotive Brake Components Market By Product Type, By Vehicle Type, By Sales Channel, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of automotive brake components market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global automotive brake components market.

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Hosted Payment Gateway Segment to Lead Global Payment Gateway Market till 2024

According to TechSci Research report, “Global Payment Gateway Market By Type, By Enterprise Size, By End-User, By Region, Competition, Forecast & Opportunities, 2024”, global payment gateway market is projected to grow at a CAGR of over 8% during 2019-2024, on account of increasing internet penetration, which is aiding growing demand for online transactions. The number of internet users grew at a notable rate in the last five years and the trend is likely to continue during the forecast period, owing to the introduction of 5G high-speed internet technology. Moreover, growing inclination towards digital payments, easy- access and attractive cashbacks are promoting the growth of global payment gateway market.   

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Payment gateway market caters to various end-users such as travel & hospitality, retail, healthcare, education, government, utilities and other industries. Retail sector dominated the market in 2018, as major retail companies are adding payment gateway to their sites. Based on the payment gateway type, hosted payment gateway dominates the global payment gateway market, owing to the fact that these payment gateways are user-friendly and more secure. In terms of enterprise size, large enterprises accounted for the leading market position, due to high transactions in volume and value terms.

PayPal Holdings, Inc., Amazon Pay (Amazon.com, Inc.), Stripe, Inc. Adyen N.V. and PayU Group are the major companies operating in global payment gateway market. Companies operating in the online payment gateway market are collaborating, launching new services and expanding to different regions, for instance, Alipay expanded its payment service to London. Asia-Pacific payment gateway market is poised to grow at a high rate during the forecast period, owing to increasing utilization of online business platforms by local vendors in economies such as India and China.

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“Implementation of payment gateway across various end user segments, such as travel & hospitality, retail, healthcare, education, government and utilities is increasing at a robust pace, owing to growing volume of payments done via digital means such as credit/debit cards and mobile phones in these sectors. Moreover, growing awareness among people about online payments and increasing proliferation of smartphones would further steer growth in global payment gateway market in coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

 “Global Payment Gateway Market By Type, By Enterprise Size, By End-User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global payment gateway market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global payment gateway market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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APAC Region to Grow at Highest CAGR in Global Private LTE Market

According to TechSci Research report, “Global Private LTE Market By Component, By Application, By Vertical, By Region, Competition, Forecast & Opportunities, 2024”, global private LTE market is expected to register growth during the forecast period, owing to high speed, low latency and longer range offered by private LTE. Moreover, increasing adoption of smartphones is expected to positively influence the market. Private LTE allows machine and human communication in a single network unlike conventional networks, which in turn is anticipated to drive global private LTE market through 2024.

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Private LTE market, globally, can be segmented based on component, vertical, application and region. In terms of technology, FDD or frequency division duplex is expected to dominate the market, as it uses separate frequency bands for sending and receiving data signals so that data signals do not interfere. Private LTE caters to various applications such as public safety, logistics & supply chain management and asset management. Public safety segment is likely to capture the leading share, as enterprises are facing challenges in data & network security due to growing number of connected devices and introduction of IoT in various industries.

AT&T Inc., Nokia Corp., Qualcomm Inc., Huawei Tech. Co. Ltd., Motorola Mobility Holdings Inc., LM Ericsson Telephone Co (ERIC) and Samsung Electronics Co Ltd are among the leading players operating in global private LTE market. North America is the dominating regional market, owing to huge investments in technological innovations and presence of some of the leading players in the region. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.  In 2018, Nokia Inc. and China Unicom deployed private LTE at BMW plant in China. While LM Ericsson Telephone Co (ERIC) signed an agreement to acquire CENX to boost network automation capabilities.

 “Managed service segment is expected to acquire the major market share during forecast period, backed by its ability to help in cutting organizational expenses and improving operator performance with the assistance of network planning. Over the coming years, Asia-Pacific private LTE market is expected to witness significant growth, as economies such as Japan and China are among the largest manufacturing markets, engaged in the production of automobiles, IT products, etc. Moreover, increasing proliferation of smartphones and government initiatives for offering enhanced public safety is expected to drive the global private LTE market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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“Global Private LTE Market By Component, By Application, By Vertical, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global private LTE market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global private LTE market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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Driver Monitoring System Market to Grow at 13% CAGR till 2024

Growing technological advancements in automotive industry, rising need to curb road accidents, and government rules and regulations to fuel global driver monitoring system market through 2024

According to TechSci Research report, “Global Driver Monitoring System Market By Vehicle Type, By Monitoring Type, By Offering Type, By Component, By Region, Competition, Forecast & Opportunities, 2017 - 2024”, driver monitoring system market, globally, is projected to grow at a CAGR of over 13% during 2019 - 2024, backed by increasing technological advancements in the automotive industry across the globe. Growing integration of driver monitoring systems in passenger cars and commercial vehicles by several automobile manufacturers can be attributed to the rising need to curb injuries and fatalities in road accidents. Moreover, expanding fleet of commercial vehicles is expected to push the demand for driver monitoring systems capable of tracking the drowsiness of truck drivers who drive for long hours at a stretch.  

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Accounting for nearly half of the global market, North America driver monitoring system market is being driven by increasing research & development activities and rising need for these systems to help prevent road accidents and injuries across the region. Moreover, growing sales of autonomous vehicles are further aiding the region’s driver monitoring system market, as the technology plays an important role in autonomous vehicles.

Key players operating in global driver monitoring system market like Continental AG, DENSO Corporation, Delphi Automotive PLC, Valeo S.A. and Robert Bosch GmbH are continuously working to develop more affordable and advanced products to further boost their customer base. On the other hand, many start-ups are also continuously working to intensify their business operations by enhancing the quality and portfolio of their products. Several driver monitoring system manufacturers are investing heavily in research & development activities, while various others are investing intensively to expand the reach and availability of their products across the globe. 

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“With growing concerns regarding road accidents, driver monitoring systems are emerging as a promising product to help reduce road accidents related injuries and fatalities. Driver monitoring systems observe driver’s driving habits and monitor hand and head movements to identify the driver’s fatigue level and drowsiness level. With continuous technological advancements, driver monitoring system quality and reliability is anticipated to increase and become much better during the forecast period, thereby making it a preferred feature in automobiles in coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Driver Monitoring System Market By Vehicle Type, By Monitoring Type, By Offering Type, By Component, By Region, Competition, Forecast & Opportunities, 2017 - 2024” has analyzed the potential of driver monitoring system market, globally, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by driver monitoring system market across the globe.

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About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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