Secure Logistics Market Insight on the Important Factors and Trends Influencing the Industry

 According to our latest market study on “Secure Logistics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 47.25 billion in 2021 and is projected to reach US$ 75.64 billion by 2028; it is expected to grow at a CAGR of 7.0% from 2021 to 2028.

The increased use of cash logistics solutions such as cash management and cash-in-transit has resulted from the increase in currency circulation in the economy. For example, in November 2018, the Reserve Bank of India (RBI) declared that the money in circulation in India had increased by roughly US$ 6.54 billion, the greatest increase since demonetization. The adoption of cash logistics services improves cash management and provides benefits such as the reduced risk of errors, improved cash flow, and more. As a result, an increase in cash circulation propels the global secure logistics market ahead. Further, multinational cash logistics corporations have been steadily shifting their operations bases to rising areas such as Asia, South America, and the Middle East. The cash logistics industry took a major hit during the European banking crises in 2009, with several banks and financial institutions requisitioning bailouts. Cash logistics firms are also expanding their reach into emerging regions to get a competitive advantage. Since the global economic slump of 2008–2009, economies like India, China, and Brazil have expanded dramatically. As a result, significant opportunities for market expansion are anticipated.
In recent days, the number of cash-in-transit vehicle robberies has skyrocketed. In South Africa, for example, a surge in cash robbery is one of the key causes discouraging cash logistics companies from accepting cash payments. In recent financial years, cash-in-transit robberies surged by roughly 56%, resulting in an increase in demand for secure logistics for cash movement and management by cash logistics companies.

Key Findings of Study:

Geographically, the secure logistics market is broadly segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). APAC led the market in 2020.

The secure logistics market in APAC is expected to grow at a significant rate during the forecast period. Factors such as rapid growth and expansion of banking and financial institutions across the region are propelling the market growth. Also, the growing logistics industry would create lucrative growth opportunities for the market players present in APAC in the coming years.

The growth of the North America secure logistics market is attributed to the rising security concerns among institutions and corporations owing to the need for safe cash transportation. Further, the cash-in-transit services and the presence of many market players are dominating the region’s market growth.

Railway Cyber Security Market Will Escalate Rapidly in the Near Future

 The scope of study involves understanding the factors contributing to the growth of the railway cyber security market; it also includes estimating and forecasting the revenues as well as conducting the market size analysis, along with spotting significant market players and their key developments.

According to the new research report titled "Railway Cyber Security Market Forecast to 2027 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the global railway cyber security market is expected to reach US$ 11,001.4 million by 2027, registering a CAGR of 8.2% during 2020-2027, the forecast period considered in the report.

APAC railway cyber security market to grow at highest CAGR during forecast period

The railway cyber security market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The growth of railway cyber security in Asia Pacific is due to increasing urban transit and railway digitization by major players and regional governments. This is designed to cope with rising consumer demand for convenient and secure travel and to meet fuel-efficiency standards to limit CO2 emissions. For example, the Optiflo rail control service solutions from Bombardier in APAC, introduced new advancements in compelling, data-driven, predictive maintenance, and cyber security solutions. Increasing urbanization has caused rapid population growth in cities. The urban population currently account for more than 54% of the total population. Furthermore, many countries are investing in metros to reduce road traffic. Developing countries such as India and China are investing significantly in the development of the metro infrastructure. Metro systems are successfully operating in 10 Indian cities, while about 25 new projects are in the pipeline. The Indian government had allocated a US$ 2.2 billion fund for the Metro budget during 2018-2019. China is planning to invest USD 11.4 billion in urban rail project development in Changchun.

The developed metro infrastructure is well connected and technologically advanced. These metros nowadays have automation level 3 or level 4. This increasing railway automation level is fueling the demand for cyber security in the railways. Additionally, increasing numbers of Asia Pacific exhibitions and summits are also expected to contribute to the growth of the market during the forecast period. For example, Nokia took part in the 2019 Asia Pacific Rail Exhibition and showcased the latest technologies and innovations. Similarly, in 2018, the Association of Southeast Asian Nations (ASEAN) organized a Cyber Security Summit, and in October 2019, Singapore launched the ASEAN-Singapore Cyber Security Center of Excellence to conduct research and train staffs to respond to the cyber threats.

Impact of COVID-19 Pandemic on Railway Cyber Security Market

According to latest situation report (22nd June 2020) from World Health Organization (WHO), the US, Brazil, Russia, India, Spain, Italy, Germany, the UK, and China are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 outbreak was started in Wuhan (China) in December 2019 and it has then spread across various countries in the world. As per latest WHO figures, there are total 8, 860, 331 confirmed COVID-19 cases globally with ~465,740 deaths and the number is growing at varying rates in different countries. The COVID-19 crisis has affected various industries worldwide and the global economy is anticipated to face a slump in the year 2020 and likely in 2021 as well. The effect of COVID-19 on various economies differs based on the level of outbreak in the specific countries. The estimated short term (coming 1 year) impact of COVID-19 outbreak on various regions overall economy.

Key findings of study:

Digital transformation trend is defined as the integration of digital technologies in various processes, activities, and business models to increase productivity and reduce operational costs. The companies across the world are embracing digitalization to transform their existing business models and processes for increasing operational efficiency and revenue. The railway industry is no exception to this trend and it is going through a paradigm shift with disrupting business models, evolving pricing and cost structures, and increasing competition. The key areas for digital transformation in railways include development of new business models & offerings, digitalization of core operations, and building a strong internal digital foundation. Multimodality platforms, easy customer interfaces, fleet management, automated train operations, and advanced analytics are some of the key areas of digital transformation in the global railway industry. Business process optimization, cost reduction, high operational efficiency, and prevention of human errors are some of the key factors that are fueling the digital transformation trend in railway industry. Digital transformation has now become a crucial need for the sustainable growth of any enterprise, owing to the increasing customer demands and rising industry competition. Along with numerous benefits, digitalization/digital transformation is also increasing the risk of cyber threats due to increasing number of attack points in the enterprise networks. Hence, in order to understand the potential cyber risks that come with digital transformation and to strengthen the information security infrastructure, companies across the world are investing in cyber security solutions and services which are driving the growth of railway cyber security network.

Smart Highway Market Growth Opportunities, Key Players, and Threads Analysis

 According to our latest market study on “Smart Highway Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology and Component,” the Market is expected to grow from US$ 24.8 billion in 2021 to US$ 81.3  billion by 2028; and is estimated to grow at a CAGR of 18.4% from 2021 to 2028.

Insufficient availability of road space, and the lack of road sense and discipline are the key factors leading to traffic congestions. Thus, highway authorities are focusing on implementing advanced traffic management solutions to overcome traffic problems in cities. Intelligent transportation systems, vehicle infrastructure, structural health monitoring, solar road panels, and wireless vehicle charging are crucial components of a smart highway. The integration of traffic control centers, access control, and route guidance systems offers a range of benefits within a smart transportation management system. Furthermore, assimilating AI and Big Data with physical infrastructures, such as sensors and solar panels, has bolstered the demand for smart roads across the world. Edge computing enables low latency that powers the smart road infrastructure, including adaptive traffic lights and integrated roadways. Traffic lights can automatically adjust their timing based on sensor data, enhancing the flow of traffic and changing signals to effectively manage highway traffic.. The AAEON Atlas, supported by Intel Vision Products, is an edge computing node that consolidates data from smart lighting, environmental monitoring, and video sensors to shape future smart cities.

The rising deployment of smart streetlights, smart traffic lights, smart parking, and/or e-tolling stations has augmented the processing capabilities that are needed to monitor traffic congestion. While smart roads may still be in their infancy in North America, significant initiatives are currently being introduced in the region to accelerate the use of data analytics. The US government is set to incorporate smart road technology along Highway 285 in Colorado. Road surface covered with factory-made concrete slabs will feature Wi-Fi connectivity; they’ll be embedded with fiber optic cables acting as pressure sensors that can monitor road’s wear-and-tear to alert motorists on traffic conditions.

Key Findings of Study:

The global smart highway market is segmented into five major regions—North America, Europe, APAC, the MEA, and SAM. Based on technology, the market is sub segmented into smart transport management system, smart traffic management system, communication system, monitoring system, and others. In 2020, the smart transport management system segment accounted for the largest market share. Based on component, the smart highway market is segmented into software and hardware. In 2020, the hardware segment accounted for a larger share of the market. 

Smart Highway Market to Witness Widespread Expansion by 2028

 The smart highway market is expected to grow from US$ 24,885.5 million in 2021 to US$ 81,335.6 million by 2028; it is estimated to grow at a CAGR of 18.4% from 2021 to 2028.

Insufficient availability of road space, and the lack of road sense and discipline are the key factors leading to traffic congestions. Thus, highway authorities are focusing on implementing advanced traffic management solutions to overcome traffic problems in cities. Intelligent transportation systems, vehicle infrastructure, structural health monitoring, solar road panels, and wireless vehicle charging are crucial components of a smart highway. The integration of traffic control centers, access control, and route guidance systems offers a range of benefits within a smart transportation management system. Furthermore, assimilating AI and Big Data with physical infrastructures, such as sensors and solar panels, has bolstered the demand for smart roads across the world. Edge computing enables low latency that powers the smart road infrastructure, including adaptive traffic lights and integrated roadways. Traffic lights can automatically adjust their timing based on sensor data, enhancing the flow of traffic and changing signals to effectively manage highway traffic.. The AAEON Atlas, supported by Intel Vision Products, is an edge computing node that consolidates data from smart lighting, environmental monitoring, and video sensors to shape future smart cities.

The rising deployment of smart streetlights, smart traffic lights, smart parking, and/or e-tolling stations has augmented the processing capabilities that are needed to monitor traffic congestion. While smart roads may still be in their infancy in North America, significant initiatives are currently being introduced in the region to accelerate the use of data analytics. The US government is set to incorporate smart road technology along Highway 285 in Colorado. Road surface covered with factory-made concrete slabs will feature Wi-Fi connectivity; they’ll be embedded with fiber optic cables acting as pressure sensors that can monitor road’s wear-and-tear to alert motorists on traffic conditions.

Key Findings of Study:

The global smart highway market is segmented into five major regions—North America, Europe, APAC, the MEA, and SAM. Based on technology, the market is sub segmented into smart transport management system, smart traffic management system, communication system, monitoring system, and others. In 2020, the smart transport management system segment accounted for the largest market share. Based on component, the smart highway market is segmented into software and hardware. In 2020, the hardware segment accounted for a larger share of the market. 

EGR Cooler Market: Technological Growth Map over Time to Understand the Industry Growth Rate

 According to the new research report titled "EGR Cooler Market - Market Forecast to 2027- COVID-19 and Global Analysis," published by The Insight Partners, the market is projected to reach US$ 527.8 millionby 2027, registering a CAGR of 1.5% during 2020-2027, the forecast period.

APAC Accounted for Highest Share ofEGR CoolerMarket in 2019

The EGR coolers market in Asia Pacific has been analyzed in the basis of historical, current, and future trends in various countries, including China, Japan, India, South Korea, and Rest of APAC. The EGR coolers market players in the region are experiencing significant demand for their products, the automotive sector being the major contributor to this demand. Most of the countries in the region are economically developing and are focusing majorly on the rising environmental issue; thus, they are focusing their investment in advanced technologies, including EGR sysrems, to precisely deal with this concern.

China and Japan are the frontrunnners in the EGR coolers market in APAC. The key factors raising significant demand in these countries include the steep rise in the production of the passenger as well as commercial vehicles in the region. However, the recent occurrence of the COVID-19 pandemic is impacting the production, export, and sale of vehicles, majorly in China. Previously, in 2019, the automotive manufacturers focused extensively on the development and integration of advanced automotive components to meet the customer requirements, along with tackling the growing environmental issues. For instance, in 2019, Toyota partnered with Chinese automotive major-BYD-for the development of electric vehicles across China. The two automotive manufacturers are working together on the production of electric sedans and sports utility vehicles (SUVs), while collaborating on developing EGR coolers.

A few of the key EGR coolers market players in APAC are ERAE Automotive System, HANAN System, Korens, MARUYASU Industries, and Radiator Mfg. Apart from these market players, several other multinational EGR cooler providers are also operating in the region, and all these companies are together enabling the APAC EGR coolers market growth over the years.

Key findings of study:

Every vehicle requires the specific design of EGR cooler to accommodate in the engine bay. Unlike conventional solutions that must be specially designed for each application, a modular EGR cooler embeds an adaptable standard design for the highest flexibility, covering a wide range of engine sizes from 2.0 to 16.0 L displacement. This type of cooler can be a perfect match for the commercial vehiclessegment, which is a low-production and high-durability segment. This segment also needs highly durable and less complex systems that are easy to mend.

With the continuous growth in the demands for improving fuel consumption, passenger comfort, emissions, and engine, the complexities of thermal management during the cooling task are progressively increasing. The market players are constantly focusing on developing as well as implementing all-inclusive cooling circuit solutions for engines, interior air conditioning systems, and charge air as well as hybrid components, which include the electric motor, power electronics, and battery. Also, with the rising emission standards globally, the implementation of EGR coolers is gradually increasing as these coolers permit the extraction of a portion of the gasses that flow between main exhaust, engine outlet, and turbine, thus cooling the heat exchangers and transferringthe portion back to the intake air downstream of the charge air cooler. Consequently, it lowers the combustion temperature of the engine, thereby decreasing the formation of nitrogen oxides (NOx).

Ride-Hailing Service Market Emerging Factors, Future Demands, and Key Players

 The Ride-Hailing Service Market is expected to grow from US$ 48,922.78 million in 2021 to US$ 98,745.11 million by 2028; it is estimated to grow at a CAGR of 10.6% from 2021 to 2028.

Finance, fuel, upkeep, registration/taxes, and maintenance & repair, as well as depreciation, all contribute to the cost of owning a car. The expense of owning a vehicle rises year after year. The depreciation accounts for 43% of the total ownership cost, according to the American Automobile Association (AAA), however the other costs, such as maintenance and gasoline, account for 25%. Fuel prices and maintenance expenses have risen dramatically in recent years, and the trend is expected to continue without any decline. Owning a car has become more of a liability than an asset as cities become increasingly congested with people and cars. As the millennial generation has little to no interest in owning a car, the percentage of people aged 18 to 35 who own a car has decreased over time. Other factors contributing to the fall in car ownership include poor public transportation connectivity in major cities and the growing popularity of internet shopping, among others. Though car ownership increased during the pandemic, it is anticipated to decline after 2021, returning to pre-pandemic levels. As a result, ride-hailing service providers can profit from these demographics, as the new tech-savvy generation is one of the most active users of these services.

Key Findings of Study:

The global Ride-Hailing Service market is segmented into five major regions—North America, Europe, APAC, MEA, and SAM. Based on Service Type, the Ride-Hailing Service market is characterized into e-hailing, car sharing, car rental, and station-based mobility. In 2020, the E-hailing segment accounted for a larger share in the market. Based on Vehicle Type, the Ride-Hailing Service market is characterized into two-wheeler, three-wheeler, four-wheeler, and others. In 2020, the Four-Wheeler segment accounted for the largest share in the market. Based on Location, the ride-hailing service market is characterized into urban, and rural. In 2020, the urban segment accounted for the largest share in the market. Similarly, based on end-user, the Ride-Hailing Service market is segmented into institutional, and personal. In 2020, the Institutional segment accounted for the largest share in the market.

Pontoon Boat Market Research Insights Shared in Detailed Report

 With generous room aboard and rising versatility of deck and pontoons boats, the boat manufacturers are endlessly working to give a pleasant boating experience to consumers. The high inclination toward integrating advanced sensor and automation technologies throughout recreational boats is also driving the development phase of pontoon boats. Development in pontoon helps in providing a better and improved riding experience. The demand for pontoons is propelling across the globe due to the rising interest in outdoor and leisure recreation activities, such as lounging, cruising, and water-based adventurous activities. According to the regional government, the boating and tourism industries are well-developed and positioned to benefit from new opportunities prevailing in recreation and tourism. The well-positioned tourism and boating industries drive the penetration of pontoon and deck boats as these boats are used for the recreational and outdoor lounging purposes.

In addition, various countries such as Australia, US, Italy, France, Germany, Denmark, and Sweden among others are the prominent tourist destinations. Owing the growing tourism industry in these destinations, there is an increase in recreational sailing and water sports on waterways across various region in the world. The snowballing effect of domestic and international tourist footfall in European countries is massively contributing to the recreational boating industry in Europe.

Key Findings of Study:

Geographically, the pontoon boat market is segmented into five key regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM). North America held the largest revenue share in 2020, followed by Europe and APAC.  The pontoon boat market is segmented on the basis of type, tube type, propulsion type, size, application, and geography. Based on type, the market is segmented into bar boat, rear lounge, quad seating, arch models, double decker, and others. The rear lounge segment held the largest market share in 2020 because these types of pontoon easily accommodate several individuals. In terms of tube type, the pontoon boat market is bifurcated into double tube and triple tube. In 2020, the triple tube segment held a larger market share.