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The global electric commercial vehicle (CV) sales are forecast to grow to 6.3 million units by 2030 from 397,146 units in 2022, at a CAGR of 41.4% over the period. This is expected to increase global aggregate battery capacity demand from electric CVs by 117 times in 10 years, from 7.2 GWh in 2020 to 840 GWh by 2030. North America is expected to ma...

The global commercial vehicle market witnessed a decline in sales volumes in 2024, more so in the medium and heavy-duty truck segments than in light commercial vehicles (LCVs). Various regional markets had an oversupply, leading to a fall in truck demand. ASEAN, China, and India experienced a significant decline in LCV sales volumes, following stro...

The used premium car sector represents almost 3% of the Mexican used car market; it expanded in the last few years due to global scarcity of materials and auto parts, an absence of new premium vehicles, and increasing prices. In Mexico, most used premium vehicle local transactions are informal due to pricing offered to clients and less bureaucr...

This research service analyzes over-the-air (OTA) updates from Asian original equipment manufacturers and examines opportunities for market participants to enhance their OTA capabilities and gain a competitive edge. The study looks at both firmware OTA (FOTA) and software OTA (SOTA) strategies. The growing use of embedded technology and 5G will boo...

Though the automotive industry is recovering from the COVID era and reaching pre-COVID forecasted vehicle sales, it still faces many challenges—regulatory hurdles, semiconductor shortages, and geopolitical chaos. Original equipment manufacturers and value chain partners are realigning their product strategies, road maps, and launch timelines to ada...

08 May 2024  |  Global  |  Market Research

Growth Opportunities in Passenger Vehicle High-definition Maps, 2024 2030

Competitive Intensity Will Push Original Equipment Manufacturers to Roll Out Advanced Level 2+ Autonomous Vehicles, Increasing the Demand for High-definition Maps in North America and Europe

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The increase in demand for safety and convenience features has boosted the development and adoption of advanced driver assistance systems (ADAS) and autonomous driving (AD) features in passenger vehicles. Original equipment manufacturers (OEMs) seek to implement level 2 and above features in their mass-market vehicles to gain a competitive advantag...

The European light commercial vehicle (LCV) leasing market is experiencing robust growth, driven by the increasing demand for flexible, cost-efficient mobility solutions in key industries such as logistics, retail, construction, and services. Valued at approximately $5.45 billion in 2024, the market is projected to grow to $7.12 billion by 2029, a...

The global bus industry is estimated to reach 2,34,000 units in 2024. The strong growth will be due to the bounce back in volumes in India and a healthy increase in Europe. Transit bus demand grew due to aging fleet replacement and government subsidies for alternate powertrains, while coach bus growth was driven by the thriving tourism industry and...

COVID-19 has had a global impact, with governments resorting to national lockdowns and social distancing measures to mitigate the spread of the virus. The result is a large-scale drop in business confidence, consumer demand, and industrial production—leading to a global economic recession in 2020. The coronavirus outbreak has also heavily impacted...