Global Connected Cars Market

The flying cars market consists of sales of flying cars by entities (organizations, sole traders, and partnerships) that is a type of vehicle that can function as both a personal road vehicle and an aircraft. Flying cars also known as hover cars, usually use rotors instead of wings and are smaller than a commercial aircraft, and have lower emissions. The main types of products in the flying cars market are manned flying cars and unmanned flying cars. The manned flying car is a type of flying car that requires a trained professional driver or a pilot to fly using the car's control system. The capacity of flying cars ranges from 2-Person Sitter, 3 And 4-Person Sitter, 5-Person Sitter. The various applications involved are military, commercial, or civil. The global flying cars market size is expected to grow from $52.2 million in 2021 to $84.39 million in 2022 at a compound annual growth rate (CAGR) of 61.7%. The global flying car market size is expected to grow to $488.56 million in 2026 at a CAGR of 55.1%. The increase in demand for environmentally friendly transportation will propel the growth of the flying cars market during the forecast period. Flying cars use vertical take-off and landing (VTOL) to take off cars. According to a 2019 study by the University of Michigan, energy use and emissions during 5 phases of VTOL flight have shown emissions from the VTOL were 52% lower than petrol vehicles and 6% lower than battery-electric vehicles. Flying cars are a lot more efficient over longer trips than shorter trips when compared to passenger cars. Therefore, the increasing demand for environmentally friendly transportation is expected to drive the growth of the flying cars market. The rapid adoption of advanced technology is shaping the flying cars market. Major companies operating in the flying cars sector are focused on adopting advanced technology such as the fast-developing distributed electric propulsion (DEP) technology which plays a role in efficiency, helps with quieter take-offs, and hovering. For instance, in August 2019, Airspace Experience Technologies (ASX), an American company, developed the MOBiOne electric vertical take-off and landing vehicle that uses a distributed electric propulsion system (DEP) and integrates a hybrid propulsion system that allows the vehicle to fly without recharging. In September 2020, Terrafugia, a US-based company that manufactures flying cars merged with AOSSCI to form Aerofugia Technology (Chengdu) Co., Ltd. The new company, which is a subsidiary of China's Geely Technology Group, will provide comprehensive general aviation services. For future air travel and UAV products, the two businesses will merge their development teams while keeping the original brands. AOSSCI is a China-based unmanned aircraft system developer. Major players in the flying cars market are AeroMobil, Boeing, Joby Aviation, Airbus, Cartivator, Volocopter GmbH, Terrafugia, PAL-V International, Lilium GmbH, Urban Aeronautics, Moller International, Kitty Hawk Corporation, Workhorse Group, Opener, and Jaunt Air Mobility. North America was the largest region in the flying cars market in 2021. The regions covered in the global flying car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the flying cars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global flying cars market is segmented - 1) By Product: Manned Flying Cars, Unmanned Flying Cars 2) By Capacity: 2-Person Sitter, 3 and 4-Person Sitter, 5-Person Sitter 3) By Application: Military, Commercial or Civil

The electric car market consists of electric car sales and services related to it. An electric car is an electric vehicle that runs by a chargeable battery such as Nickel-Metal Hydride (Ni-MH) Battery, Lithium-ion Battery, Fuel Cell Battery. The main types in the electric cars market are battery electric vehicles (BEV), plug-in hybrid electric vehicles (PHEV), hybrid electric vehicles (HEV). Battery electric vehicles operate only on stored electricity, and their main components consist of a high-voltage battery, one or more electric motors (either alternating current [AC] or direct current [DC]), and a controller for managing the power electronics. The battery types involved are lithium-iron-phosphate (LFP), lithium-nickel-manganese cobalt oxide (Li-NMC), lithium-titanate oxide (LTO) battery, lithium-nickel-cobalt-aluminum oxide (NCA) battery, nickel-metal hydride (NiMH) battery, lead-acid battery. The applications involved are home use, commercial use. The global electric cars market size is expected to grow from $212.46 billion in 2021 to $278.75 billion in 2022 at a compound annual growth rate (CAGR) of 31.2%. The global electric cars market is then expected to grow to $825.95 billion in 2026 at a CAGR of 31.2%. The growing demand for electric vehicles is driving the electric cars market. Electric cars are one of the fastest-growing segments in the electric vehicles market. According to the InsideEVs report (Electric vehicle world sales database), in 2019 nearly 2.2 million electric vehicles were sold globally. According to Forbes, Electric vehicles (EVs) will surge to 57% which is more than half of global passenger car sales by 2040. The major companies in the automobile industry such as Tesla, BMW, Volkswagen, and others are expected to release around 200 models of electric vehicles. Electric vehicles don’t use fuel or gas and they are more economical than other vehicles. The demand for an electric vehicle is growing because of its low maintenance, less carbon emission, convenient charging, less noise from the engine, higher fuel costs. Lack of standardization of charging infrastructure is slowing down the electric cars market. The charging infrastructure is a charging point for Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV), Hybrid Electric Vehicles (HEV), Fuel Cell Electric Vehicles (FCEV) available in every region. According to McKinsey’s report, there will be an estimated 120 million electric vehicle units on road by 2030. The demand for electric vehicles is rising due to environmental concerns and health Hazards. The sudden shift to electric vehicles in many regions leads to a lack of charging infrastructure. Tesla, Mahindra, Audi, and other international OEMs are expected to launch 10 new electric vehicle models in 2021 in India. However, many countries don’t have proper charging infrastructure for electric vehicles due to higher up-front capital, higher operating costs, and currently low utilization of electric vehicles. This factor is likely to challenge the growth of this market. The development of wireless charging facilities for electric vehicles is the greatest opportunity for both OEMs and end-users. Wireless charging enables charging of an electric vehicle without any inconvenience of finding the right cable connector at the charging point, and/or stopping by at any charging station. Wireless charging uses dynamic and inductive charging technologies where the electricity is transferred from one magnetic coil in the charger to a second magnetic coil connected to a car. Tesla, BMW, Rolls Royce, Volkswagen, Nissan, etc. are working on wireless charging system cars because the OEMs and technology companies figured out that it is much easier to charge an electric vehicle by wireless charging system than a plug-in system. Qualcomm's technologies, continuously working on its wireless charging system called Qualcomm Halo that uses dynamic technology which helps to charge the electric vehicle while driving. Therefore the wireless charging system has a huge scope in the future to electrify vehicles all over the world. In February 2019, Tesla, Inc., an American electric vehicle and clean energy company based in Palo Alto (California) acquired Maxwell technologies an Energy storage company for a deal of $218 million. Maxwell technologies produce ultracapacitors an energy storage device or battery that is used in electric vehicles. The acquisition helped Tesla to get Maxwell’s dry electrode technology which is mainly used to produce ultracapacitors. These dry electrode technology ultracapacitors are used in electric vehicles to boost performance and are also more cost-effective than other technologies. Major players in the electric cars market are Toyota, BMW, BYD, Tesla, BMW, Volkswagen, General Motors, BAiC Motors, SAIC, and Daimler AG. Asia Pacific was the largest region in the electric cars market in 2021. Western Europe was the second largest market in the global electric cars market. The regions covered in the global electric car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric cars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global electric cars market is segmented - 1) By Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV) 2) By Battery Type: Lithium-Iron-Phosphate (LFP), Lithium-Nickel-Manganese Cobalt Oxide (Li-NMC), Lithium-Titanate oxide (LTO) battery, Lithium-Nickel-Cobalt-Aluminum oxide (NCA) battery, Nickel-Metal hydride (NiMH) battery, Lead Acid Battery 3) By Application: Home Use, Commercial Use

The autonomous cars market consists of sales of autonomous cars and related services. An autonomous car means navigating a vehicle without human input from passengers using sensing equipment (LIDAR), environmental sensitive control equipment, and navigation equipment. The main product types in the autonomous cars market are semi-autonomous vehicles, fully-autonomous vehicles. Semi-autonomous vehicles are cars that will accelerate, decelerate and stop without human intervention. The applications involved are civil, robot taxi, ride-hail, rideshare, others. The types involved are battery electric vehicles (BEV), internal combustion engines (ICE), hybrid electric vehicles (HEV). The global autonomous cars market size is expected to grow from $820.29 billion in 2021 to $931.34 billion in 2022 at a compound annual growth rate (CAGR) of 13.5%. The global autonomous car market size is then expected to grow to $1,475.47 billion in 2026 at a CAGR of 12.2%. The rise in the development of smart cities is a key factor driving the growth of the autonomous cars market. Electric autonomous cars help reduce air pollution in smart cities and also help to fight climate change. By using driverless cars, traffic accidents can be decreased by 90%, significantly improving the safety of our roads. Several countries such as Mexico, Canada, and the United States are deploying digital infrastructure to promote communication between vehicles and networks to collect essential information, thereby reducing traffic congestion and improving road safety. Therefore, the rise in the development of smart cities is expected to drive the growth of the autonomous cars market. Cybersecurity and safety concerns are the key factors hindering the growth of the autonomous cars market. Although the self-driving car market has enormous growth potential, many customers are not quite ready to hand over the keys owing to the threat of hackers as they can try to steal data and self-driving cars can go unofficial by exposing their driving routes and destinations that could threaten the privacy of passengers. The prospect of hackers taking control of the vehicles is even more concerning. In July 2020, cybersecurity researchers used the latest hacking techniques to hack into the electrical systems of a Jeep Cherokee. Using the Internet, they were able to obtain wireless control of the Jeep Cherokee giving them on to the Jeep’s entertainment system, allowing them to relay commands to its dashboard functions, steering, brakes, and transmission, and they were ready to do all of this remotely 10 miles away from the vehicle's location. The correlation between these attacks on common IoT devices and attacks in a connected or autonomous vehicle is the possibility of increased life and property risk in the vehicle context. Full automation vehicles are a key trend in the autonomous cars market. The full automation vehicles are capable of performing all driving functions in all circumstances, these vehicles are being designed to be used as Robo-taxis, among others, such as Waymo. Eventually, these self-driving cars will blend into U.S. roadways by improving technology across six stages of driver assistance in the coming years from No automation (where a fully engaged driver is still required) to full autonomation (where an automated vehicle runs independently, without a human driver). Tesla has confirmed that it plans to provide a software update to its vehicles sometime by the end of 2019 or early 2020. Also, according to Wired, by the end of 2020, Teslas will be fully autonomous. In June 2019, Apple, an American-based company, designs, develops and sells consumer electronics, computer software, and online services acquired Drive.ai for an undisclosed amount. This acquisition boosts Apple’s development of a self-driving vehicle system. Drive.ai, a California-based company, works on autonomous cars. Major players in the autonomous cars market are BMW Group, Tesla Inc, Ford Motor Company, General Motor Company, Nissan Motor Corporation, Daimler AG, Toyota Motor Corporation, Volkswagen AG, Volvo Group, and Waymo LLC. Asia Pacific was the largest region in the autonomous cars market in 2021. Western Europe was the second largest region in the global autonomous cars market. The regions covered in the global autonomous car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the autonomous cars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA. The global autonomous cars market is segmented - 1) By Product Type: Semi-Autonomous Vehicles, Fully-Autonomous Vehicles 2) By Application: Civil, Robo Taxi, Ride Hail, Ride Share, Others 3) By Type: Battery Electric Vehicle (BEV), Internal Combustion Engine (ICE), Hybrid Electric Vehicle (HEV)

The passenger car aftermarket market consists of sales of passenger car aftermarket parts and services. Companies operating in the passenger car aftermarket (parts and services) provide manufacturing, remanufacturing, distribution, retailing, and installation of replacement vehicle parts, equipment, service repair, and automotive accessories. The market includes the sales of the tires, batteries, brakes parts, filters, lightings, and electronic components. The main types of passenger car aftermarket market are tires, battery, brake parts, filters, body parts, lighting, wheels, exhaust components, turbochargers, others. A tyre, sometimes known as a tyre, is a ring-shaped device that covers the rim of a wheel to carry a vehicle's load from the axle to the ground while also providing grip on the surface over which the wheel moves. The different Certifiations include genuine parts, certified parts, uncertified parts and is available through various distribution channels such as retailers (OEMs, repair shops), wholesalers and distributors. The global passenger car aftermarket market size is expected to grow from $216.18 billion in 2021 to $226.33 billion in 2022 at a compound annual growth rate (CAGR) of 4.7%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The passenger car aftermarket market is expected to reach $289.37 billion in 2026 at a CAGR of 5.3%. Increasing average lifespan of a car is one of the major drivers of the passenger car aftermarket as it leads to an increase in consumer’s regular maintenance and scheduled servicing of the vehicle. The lifespan of the car describes the maximum service life in terms of mileage and time. Changing of wheels, batteries, spark plugs, air filters plays a significant role in prolonging the life of a vehicle. According to IHS automotive survey in 2019, the typical car on the road in the US is 11.8 years old. Addition to that, based on an article by USA Today, the number of old vehicles on the road that are totalling up to 278 million in 2019. Many companies are offering extended warranties to third parties on vehicle parts or services which in turn is hampering the growth of independent service providers. Extended warranties are given on a vehicle part/service to increase the lifetime of a vehicle which leads to free service or discounts towards the consumer. Since all warranty repairs are performed by the OEM (Original Equipment Manufacturers) only, the aftermarket sales and services market which is generated majorly from dealer service centres suffers a loss. According to Motor & Equipment Manufacturers Association (MEMA), in California for all light-duty vehicle extended warranties did not have an effect on independent repair shops. The passenger car aftermarket market is using 3D printing technology also called as Additive Manufacturing (AM) to make high-quality off-the-shelf car parts using 3D printers that are capable of printing in metals and alloys. 3D printing works by making a virtual 2D object in the software and constructing the 3D framework by using the printer. The use of 3D printing in producing automobile parts increases the efficiency and raises the production standards of the companies. Companies (original equipment manufacturers) such as General Motors, BMW, Ford and Porsche have already started investing in this trend. The industry is regulated by several regulations governed by multiple international and country-specific agencies. One of the examples of such regulatory body is National Highway Traffic Safety Administration (NHTSA) of U.S. The Standard number 108 of section 571 under Title 49 "Transportation" mentioned in Code of Federal Regulations (CFR), states the requirements for original and replacement lamps, reflective devices, and associated lighting equipment for passenger cars as well as other multipurpose passenger vehicles. As defined in CFR, the purpose of section 571 is to set regulatory standards relating to lighting equipment in vehicles to be followed by motor vehicles including passenger cars. The standards also specify points where the equipment such as Headlamp should be mounted in vehicles so as to make it easily visible in public roads both in daylight and in darkness or other conditions of reduced visibility thus reducing traffic accidents and deaths and injuries. In November 2019, Toyota, a Japan based automotive manufacturer expanded its partnership with Subaru for an undisclosed amount. The collaboration will encompass joint research, advancement, and manufacturing of electric and self-driving automobiles. Subaru is a Japan based automobile manufacturer that offers passenger car aftermarket devices. Major players in the passenger car aftermarket market are Denso Corporation, Robert Bosch Gmbh, Continental AG, 3M company, Delphi Automotive PLC., ZF friedrichshafen AG, Magneti Marelli S.p.A, Cooper tire & Rubber Company, Federal -Mogul Corporation, Goodyear tire & rubber company, Aisin Seiki Co, Valeo; Sumitomo Electric Industries Ltd, Aptiv PLC, MAHLE GmbH, Schaeffler AG, ACDelco, Mobileye, Eaton, Schaeffler Technologies AG, Lear Corporation, Yazaki Corp, Akebono Brake Corporation, American Axle & Manufacturing, Bridgestone Corporation, Gates Corporation, Hyundai Mobis Co. Ltd, Kumho Tires, Exide Technologies and Pirelli & C. S.p.A. The regions covered in the passenger car aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the passenger car aftermarket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global passenger cars after market market is segmented - 1) By Type: Tires, Battery, Brake Parts, Filters, Body Parts, Lighting, Wheels, Exhaust Components, Turbochargers, Others 2) By Distribution Channel: Retailers (OEMs, Repair Shops), Wholesalers and Distributors 3) By Certifiations: Genuine Parts, Certified Parts, Uncertified Parts

The automotive V2X market consists of sales of automotive V2X technologies by entities (organizations, sole traders, and partnerships) that are mainly used to increase safety and prevent collisions. Vehicle to Everything (V2X) is a communication system used in a vehicle that supports the exchange of the from a vehicle to moving components of the traffic system that may have an impact on the vehicle. The technology improves traffic efficiency by notifying drivers to approach traffic, offering other routes to avoid traffic, and spotting unoccupied parking spaces. The main types of technologies in automotive V2X are emergency vehicle notification, automated driver assistance, passenger information system, line of sight, others, and has various connectivities such as DSRC, cellular. The emergency vehicle notification technology provides an emergency vehicle notification system which is a method for notifying traffic of an approaching emergency vehicle. The different vehicle types include passenger cars and commercial vehicles. The several types of communications involved in automotive V2X are vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), vehicle-to-grid (V2G), vehicle-to-cloud (V2C) and vehicle-to device (V2D). The global automotive V2X market size is expected to grow from $619.42 billion in 2021 to $854.99 billion in 2022 at a compound annual growth rate (CAGR) of 38.0%. The change in the automotive V2X market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $2907.53 billion in 2026 at a CAGR of 35.8%. The increasing demand for fully autonomous vehicles is expected to propel the growth of the automotive V2X market in the coming years. Autonomous vehicles are defined as self-driving vehicles that move without any human intervention or require very little human intervention. V2X offers an advantage in automatic vehicles since it delivers information about objects that other sensors are unable to detect. Also, it can improve traffic efficiency by giving information about traffic signals. For instance, according to TechCrunch, a US-based online newspaper, in 2019, over 1,400 self-driving vehicles are being tested by more than 80 companies across the United States. Furthermore, according to the Nissan Motor Co., Ltd, a Japan-based automobile manufacturer report in 2019, 55% of small firms expect vehicles to be autonomous within the next 20 years. Thus, the increasing demand for fully autonomous vehicles drives the growth of the automotive V2X market. The growing technological advancements such as LTE-V2X technology are a key trend gaining popularity in the automotive V2X market. LTE-V2X technology is an innovative information and communication technology that is used in road transportation systems to allow information to be exchanged between vehicles, humans, networks, and infrastructure. Major companies operating in the automotive V2X sector are focused on developing LTE-V2X technology to strengthen their position. For instance, in 2019, Qualcomm, a US-based semiconductor company launched a Snapdragon automotive 4G platform, which is a 6th generation multimode LTE modem with integrated V2X technology used for automotive vehicles. Vehicle-to-vehicle (V2V) and vehicle-to-roadside infrastructure (V2I) communications for safety, high bandwidth, and low latency teleoperations, precision location, and multi-gigabit cloud connectivity are all advantages of these platforms. In February 2021. Harman International, a USA-based company focused on connected devices for automotive in customer and enterprise markets acquired the resources of Savari, Inc. for an undisclosed amount. With the acquisition of Savari, Harman International aims to improve its car telematics and Advanced Driving Assistance Systems (ADAS) related to the automotive v2x market, and extend the organization's qualities in 5G Edge, Multi-Access Edge Computing (MEC). Savari is a USA-based automotive innovation company creating new technologies in vehicle-to-everything technology (V2X) and 5G Edge markets. Major players in the automotive V2X market are Autotalks Ltd., Continental AG, Denso Corporation, Harman International, Infineon Technologies AG, NXP Semiconductors, Qualcomm Technologies Inc., Robert Bosch, Cohda Wireless, STMicroelectronics, TE Connectivity Ltd., Qorvo Inc., Ford Motor Company, Danlaw Inc., and Amphenol Corporation. North America was the largest region in the automotive V2X market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive V2X market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the automotive V2X market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global automotive V2X market is segmented - 1) By Technology: Emergency Vehicle Notification, Automated Driver Assistance, Passenger Information System, Line of Sight, Others 2) By Vehicle Type: Passenger Cars, Commercial Vehicles 3) By Connectivity: DSRC, Cellular 4) By Communication: Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Pedestrian (V2P), Vehicle-to-Grid (V2G), Vehicle-to-Cloud (V2C), Vehicle-to-Device (V2D)

The freight cars market consists of sales of freight cars rail freight transportation services and related goods by entities (organizations, sole traders, and partnerships) that provide the transportation of freight in a freight car. Freight Cars are a type of railroad car or rolling stock that are designed to transport goods on a rail transport system. Only goods and services traded between entities or sold to end consumers are included. The main types of freight cars market covered in this report are intermodal, tank wagons, and freight cars. The tank wagon is defined as a vehicle that is designed to carry gasses or liquids. It is also segmented by application into coal, petroleum and chemicals, metals and minerals, automobiles, agricultural products, and Other Applications. It is also segmented by end-use industries into agriculture, construction, oil and gas, chemical, medical and pharmaceuticals, food and beverages, government and defense, automotive and transportation, and marine. The global freight cars market size is expected to grow from $137.85 billion in 2021 to $143.51 billion in 2022 at a compound annual growth rate (CAGR) of 4.1%. The freight cars market is then expected to grow to $178.57 billion in 2026 at a CAGR of 5.6%. Government initiatives are expected to boost the freight cars market growth. For instance, in 2019, the Indian government has taken initiatives to make rail freight more attractive through long term tariff contracts with major customers, providing incentives to container traffic, tariff rationalization initiatives, the launch of schemes such as the General Purpose Wagon Investment Scheme (GPWIS), Liberalised Wagon Investment Scheme (LWIS), Special Freight Train Operator (SFTO), and Automobiles Freight Train Operator (AFTO), and Other Applications. Investments in railway infrastructure have also been looked into by the Government of India by making investor-friendly policies and enabling Foreign Direct Investment in railways to improve infrastructure for freight and high-speed trains. Also similar instance, in 2019, the UK government launched a velocity improvement initiative that does the continuous analysis of freight services focused on commodity and flow in close collaboration with freight operators. Therefore, the steps taken by the government to increase the rail freight will increase the demand for freight cars market growth during the period. Stringent regulation regarding import and export is one of the major challenges to the freight car market growth. Rail freight transportation would decrease as a result of strict rules over trade which would decrease the demand for freight cars. In 2020, the Customs department of India imposed stringent rules on the free-trade agreement import of white goods to check undue dumping of these commodities under FTAs from non-producing countries. It aims to check the misuse of relaxation under free-trade agreements. India is also keen to implement new planned regulations to boost local manufacturing by reducing imports and the move is primarily aimed at slashing the amount of lower-quality imports from China. Therefore, stringent rules posed by the government over trade are expected to hinder the freight car market growth during the forecast period. Freight cars are now enabled with GPS tracking and this is likely to be an emerging trend in the freight cars market. The efficiency of freight cars transport will be augmented with the use of advanced GPS technologies. The incorporation of GPS technologies into freight cars by rail operators helps in managing the transport process, scheduling freight cars, maintaining a consistent delivery process, and reducing the theft of goods from the freight cars. For instance, in 2019, Indian Railways began real-time monitoring of over 700 trains (passenger and freight), using The Control Office Application (COA) system. The COA was designed by ISRO after collaborating with the Indian Railways to monitor the movement of freight cars even between two stations with GPS. Therefore the demand for freight cars is expected to be increased with the incorporation of certain criteria such as real-time data and on-time deliveries. In July 2019, The Greenbrier Companies, Inc, a leading international supplier of equipment and services to the freight rail transportation markets, acquired the manufacturing business of American Railcar Industries (ARI) from ITE Management for an undisclosed amount. ITE Management is an investment firm that operates industrial and transportation assets and companies. The acquisition will strengthen Greenbrier’s position in product offerings in tank cars and covered hoppers and expand its customer base. The acquisition will also extend Greenbrier's reputation in design leadership and quality in the North American freight cars market. Major players in the freight cars market are CN Railway, DB Schenker, Union Pacific, Kansas City Southern, CSX Corporation, Norfolk Southern Corporation, Housatonic Railroad Company, and Linfox Pty Ltd. Asia Pacific was the largest region in the freight cars market in 2021. North America was the second largest region in the freight cars market. The regions covered in the freight car market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the freight cars market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global freight cars market is segmented - 1) By Type: Intermodals, Tank Wagons, Freight Cars 2) By Application: Coal, Petroleum and Chemicals, Metals and Minerals, Automobiles, Agricultural Products, Others 3) By End-Use Industries: Agriculture, Construction, Oil and Gas, Chemical, Medical and Pharmaceuticals, Food and Beverages, Government and Defense, Automotive and Transportation, Marine

The online taxi services market consists of sales of taxi services and related goods by entities (organizations, sole traders, and partnerships) that provide passenger transportation by automobile or van through online reservations or on a booking basis. This industry comprises establishments primarily engaged in providing passenger transportation by taxi that is booked by using a mobile application. These companies use online platforms and mobile applications to offer their services to customers. Examples include Uber, Lyft, and Didi. Taxis booked online through an app are mentioned in the report as ride-hailing services. This does not include taxis stopped on roadsides. Only goods and services traded between entities or sold to end consumers are included. The online taxi services market covered in this report is segmented by service type into ride-hailing, and ride-sharing. Ride-Sharing refers to an arrangement or instance involving the sharing of rides in a motor vehicle with other people, mainly commuters. The different types of vehicles include motorcycles, cars and involve various payments modes such as online, cash. The several types of rides include individual, carpool/ share. The global online taxi services market size is expected to grow from $31.03 billion in 2021 to $34.82 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The online taxi service market is then expected to grow to $53.48 billion in 2026 at a CAGR of 11.3%. Rising internet penetration drives the demand for the online taxi services market. The availability of high-speed internet connectivity and convenience associated with using online services is shifting consumer preferences towards online taxi services. According to the Internet World Stats, the number of internet users increased from 4,208 million to 4,833 million in June 2020. Furthermore, internet users in India are expected to grow from 636.73 million in 2019 to 974.86 million by the end of 2025. A growing number of internet users with smartphones now have taxi services at their fingertips that give the drivers’ details and location and benefit the user and thereby fuel the demand for the online taxi services market. Stringent regulations imposed on online taxi services operations limit the growth of the online taxi services market. Many cases of assault and molestation have been registered against online taxi services as a result of which governments across the world have imposed strict regulations on the providers. These incidents call for a strong policy to secure customers. Governments have imposed strict background checks on Uber and Lyft drivers and mandatory fingerprint background checks to avoid such incidents any further. Other regulations imposed by governments to comply with the service providers include India’s Motor Vehicle (Amendment) Bill 2016 and Information Technology Act, 2000, Malaysia’s Commercial Vehicles Licensing Board Act 1987 (Act 334) (“CVLBA 1987”) and the Land Public Transport Act 2010 (“LPTA 2010”)(Act 715). The laws under the act regulate both e-hailing operators and drivers. Moreover, e-hailing service providers are mandated to have an intermediation business license to operate their business in Malaysia. Thus, the stringent rules and regulations imposed on taxi services are restricting the online taxi services market growth during the forecast period. The launch of self-driving taxi services is gaining popularity in the online taxi services market. Major players operating in the industry are continuously focused on introducing innovations and technologies to better serve the needs of consumers. For instance, in August 2020, AutoX, an autonomous driving startup announced the public launch of Robo-taxi services in China. Moreover, in October 2019, Ola, a ride-hailing firm introduced Ola Drive, self-driving car-sharing services in multiple locations in India including Bangalore, New Delhi, Mumbai, and Hyderabad. In September 2019, Mahindra & Mahindra, an Indian multinational vehicle manufacturing corporation announced the acquisition of 55% stakes in Meru Cabs, a taxi cab service provider for $27.3 million (Rs 201.5 crore). With the acquisition of Meru Cabs, Mahindra & Mahindra plans to expand its business with participation in the growing shared mobility space. Meru Cabs is an India-based ridesharing company operating in the ride-hailing segment and corporate transportation solutions. Major players in the online taxi services market are Ola (ANI Technologies Private Limited), Uber India Systems Private Limited, Lyft Inc., Didi Chuxing, GrabTaxi Holdings Pte Ltd, Carzonrent (India) Private Limited, Mega Cabs Private Limited, Meru Mobility Tech Private Limited, and Savaari Car Rentals Private Limited. Asia Pacific was the largest region in the online taxi services market in 2021. Western Europe was the second largest region in the online taxi market. The regions covered in the online taxi service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the online taxi services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global online taxi services market is segmented - 1) By Service Type: Ride-Hailing, Ride Sharing 2) By Vehicle Type: Motorcycles, Cars 3) By Payment Mode: Online, Cash 4) By Ride Type: Individual, Carpool/ Share