Philippines Logistics and Warehousing Market Research Report to 2024: Ken Research

How is Philippines Logistics & Warehousing Market Positioned?

Logistics services provided in the Philippines involve the movement and transport of the documents, parcels, goods, materials, products which include management of freight, storage, packaging and inventory. The goods are transported by the basic modes of transportation which includes land, water, air and rail. Transportation and logistics is a main catalyst of economic growth which impacts other sectors such as agriculture and manufacturing, among others. The technological advancements and trade together have contributed to the growth of logistics industry in the Philippines. The logistics industry plays a key role in the exports and import of commodities in the Philippines. The logistics market in the Philippines has witnessed a growing need of maritime, aviation and land transport systems to ensure efficient flow of resources and commodities within the country as well as to other countries globally. The logistics market of has evolved in recent years with the rising globalization which is one of the key driving factors responsible for the growth of logistics market in the Philippines. Globalization has increased trade activities in the country and logistics has played a key role in connecting different export and import markets of various countries across the world. The logistics market has augmented positively from PHP ~ billion during 2013 to PHP ~ billion during 2018, thus displaying a CAGR of ~% during 2013-2018. During this period, logistics market grew with the expansion of industrial activities in the country.

Philippines Logistics & Warehousing Market Segmentation

By Service Mix: Freight forwarding segment dominated the logistics industry of Philippines and has grown at a five year CAGR of ~% during the period 2013-2018. The market was witnessed to grow from PHP ~ billion in 2013 to PHP ~ billion in 2018. This is primarily due to rising demand for transportation of goods from one place to another and increasing export and import value has positively impacted the freight forwarding industry. Warehousing is the second largest contributor in the logistics industry of Philippines and reached PHP ~ billion in 2018. Over the years the warehouses in the country have witnessed modernization with the introduction of robotics and mechanization in this industry which has increased the efficiency of work. Value added services acquired the remaining market share of ~% in the overall logistics market of Philippines.

Philippines Logistics & Warehousing Market Future Outlook

The logistics and warehousing market of Philippines was observed to grow at a CAGR of ~% during the period 2018 to 2024. The market revenue generated from this industry in Philippines is expected to grow and reach from PHP ~ billion in the year 2018 to PHP ~ billion by the end of the year 2024. Strong economic growth is likely to boost the logistics market in the country during the forecasted period 2018-2024. The sectors which are expected to be particularly dependent upon logistics services include healthcare, telecommunication, electronics and retail sectors. An increase in the consumer spending will provide a strong impetus for the growth of these sectors and thus will affect the logistics market positively.

How is Philippines Freight Forwarding Market Positioned?

Freight forwarding industry witnessed significant growth in the past few years. Expanding FMCG sector, retail sector, food and e-commerce industry in the country have attributed to the phenomenal growth in the sector during the period 2013-2018. The industry dominated the logistics market. The market is yet to achieve maturity as the industry is highly fragmented with the presence of both domestic and international companies. Freight forwarding accounts for ~% of the total value of the goods. The market witnessed a tremendous growth during 2013-2018. It increased from PHP ~ billion in 2013 to PHP ~ billion in 2018.

Key Segments Covered

Logistics and Warehousing:

By Service Mix (Freight Forwarding, Warehousing and Value Added Services)

Freight Forwarding:

By Mode of Transport (Water Transport, Road Transport and Air Transport)

By Major Flow Corridors (Asia, North America, Europe, Middle East and Others)

By Owned and Rented / 3PL

By Delivery Type (Normal Delivery and Express Delivery)

By Mode of Freight (International Freight and Domestic Freight) 

Express Delivery:

By Mode of Transport (Air Express and Road Express)

By Delivery Type (International Express and Domestic Express)      

By Business Model (B2B, B2C and C2C)

E-Commerce:

By Channel (E-Commerce Merchants and 3PL Companies)

By Time Duration (One Day Delivery, Two Day Delivery, Same Day Delivery and Others)

By Area of Delivery (Intracity and Intercity)

By Payment Method (Cash on Delivery and Others)

Third Party Logistics:

By Market Type (Freight Forwarding and Warehousing Services)

Warehousing:

By End User (Food and Beverage, Pharmaceuticals and Medical Consumables, Textile and Footwear, Electronics, Chemicals and Others)

By Domestic and International Companies

By Business Model (Industrial / Retail Freight, Container Freight, Cold Storage, Agriculture and Others)

By Owned and Rented Warehouses

Balikbayan Box:

By Seasonal Demand (On-Season and Off-Season)

Key Target Audience

Logistics Companies

Warehousing Companies

Cold Chain Companies

Courier and Parcel Companies

Express Logistics Companies

E-Commerce Logistics Companies

E-Commerce Companies

Logistics Association

Government Association

Investors and Private Equity Companies  

Time Period Captured in the Report:

Historical Period: 2013-2018

Forecast Period: 2019-2024

Companies Covered:

Freight Forwarding and Warehousing Market:

Chelsea Logistics Holdings Corporation

International Container Terminal Services Inc.

Lorenzo Shipping Corporation

Metro Alliance Holdings & Equity Corporation

Asian Terminals Inc.

AAI Worldwide Logistics Inc.

Kintetsu World Express

Royal Cargo

Yusen Logistics Co. Ltd.

All Transport Network Logistics (ATN)

F2 Logistics All Systems Logistics (ASL) 

LF Logistics

Nippon Express

Panalpina

Expeditors

Orient Freight International

Metro Combined Logistics Solutions Inc.

Infinity Logistics Philippines Co.

MMG Corporation Philippines

Express Delivery Market:

LBC Express

Philippines Postal Corporation

2Go Group Inc.

JRS Express

AirFreight 2100 (Air21)

Xend Business Solutions

Abest Express

E-Commerce Logistics Market:

Lazada Express

Shopee

DHL Philippines

Zalora

Balikbayan Box Market:

Jolly B Box

Forex Cargo

Afreight

Zalora

Manila Forwarders

LBC Express

For more information on the research report, refer to below link:

Philippines Logistics and Warehousing Market Outlook to 2024

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Advanced Landscape of the Global Polymer Foam Market Outlook: Ken Research

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The polymer foams are tremendously light in weight and versatile, exceedingly durable, mildew resistant, and dermatologically-friendly. Such features make them safe and recommendable for the several consumer applications. Whereas, the polyurethane based foams are extensively utilized in the building and construction, marine industries and automotive. The significant usage of polymer foam in the construction and building applications is fostering the market growth more positively of the polymer foam. Not only has this, the effective rise in the applications in several industries, such as furniture and bedding, packaging and automotive industries are predicted to drive the product requirement.

Increasing aim on the improvement of biodegradable foams due to the stringent environment regulations around the world has opened the new market opportunities for the manufacturers. According to the report analysis, ‘Polymer foam Market By Type (Polyurethane, Polystyrene, PVC, Phenolic, Polyolefin, Melamine and Others) By End Users (Building & Construction, Packaging, Automotive, Furniture and Bedding and others) and By Geography - Global Driver, Restraints, Opportunities, Trends, and Forecast to 2023’ states that there are several key players which are recently functioning in this sector more actively for leading the fastest market growth and dominating the handsome value of market share across the globe throughout the forecasted period more positively while analyzing the increasingly stringent regulations by the government authorities and increasing the end-use industry manufacturers in the Asia Pacific region includes BASF, LANXESS, Huntsman, DowDuPont, and SABIC. Some of the major customers are FIAT, UFP Technologies, VINCI, Volkswagen Group, and Sika AG. The companies are significantly indulges in the research and development activities to innovate and improve new products, which can open new paths of applications.

Not only has this, the potential companies working more enormously in the manufacturing of polymer foam and are actively participating to augment their product varieties along with the enhancements in the supply networks and thus improving their positions in the polymer foam market.

The augmented innovations and research and development in supporting in expansion of polymer foam features areas delivering additional growth opportunities to the market. Whereas, the growing concern around the world, especially developed regions along with the augmenting demand from the end user industries is fostering the growth of polymer foam. However, the rising regions and growing per capita income along with the technological innovations to bring down the cost are generating the polymer foam more inexpensive and efficient.

Additionally, the augmenting requirement for the polymer foam from the automotive, packaging, and building and construction industries is fueling the polymer foam market globally. The Asia Pacific region is governing the market of polymer foam during the forecast period, followed by North America and Europe. However, the Polymer foam is utilized in the various applications. The significant growth of the end-user industries is likely to fuel the growth of the polymer foam market during the review period. Therefore, in the coming years, it is predicted that the market of polymer foam will increase across the globe more positively over the recent few years.

To know more, click on the link below:-

Global Polymer Foam Market

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Convergence Of The Asia Pacific Pharmacy Automation Systems Market Outlook: Ken Research

In the recent trend, the pharmacy automation systems are playing an important role in the hospitals and retail pharmacies as they bring automation into the hospital surrounding and supporting the hospitals to develop the patient outcomes and decrease the expenses for the hospitals over the long term. The technological transformation in the pharmacy automation is speedily transforming the functions of the pharmacy from the oil-style, dispensing of drugs from the pharmacy to a new, exceedingly efficient model and cart-fill operations. Furthermore, the government is also showing the effective efforts for establishing such technologies in the government healthcare centers and hospitals for delivering the better consumer satisfaction and improving the outcomes while ultimately decreasing the costs which further profitable for leading the fastest market growth in the coming years more positively.

According to the report analysis, ‘APAC Pharmacy Automation Systems Market 2017-2025 by End-user, Product and Country’ states that there are several key players which are presently functioning in this sector more actively for leading the fastest market growth and dominating the handsome value of market share during the forecasted period more increasingly while developing the existing working strategies and policies of doing work and increasing the applications for decreasing the medication errors and develop the workflow efficiency in the pharmacies includes Abacus Rx, Inc., Accu-Chart Plus Healthcare Systems, Inc., Aesynt Incorporated, AmerisourceBergen Corporation, ARxIUM Inc., Baxter Healthcare Corporation, Becton, Dickinson & Co, Capsa Solutions, LLC, Cerner Corporation, ForHealth Technologies, Health Robotics SRL, Innovation Associates, Inc., InterMetro Industries Corporation, McKesson Corporation, Medacist Solutions Group, LLC., Omnicell, Inc, Parata Systems, Pearson Medical Technologies, LLC, Pharmacy Automation Systems LLC, RxMedic Systems, Inc., Rxsafe, LLC, Scriptpro LLC, Swisslog Holding AG, Talyst, LLC, TCGRX Pharmacy Workflow Solutions, Willach Pharmacy Solutions GmbH, Yaskawa Electric Corp., Yuyama and several others. Moreover, the focused players of this market are improving the existing technologies while employing the young workforce for delivering the services at a reasonable price which further benefitted for generating the handsome amount of revenue and leading the fastest market growth in the coming years more positively.

In the Asia Pacific region, the total sales revenue of pharmacy automation systems advanced to USD 997.5 million in 2016, rising by an efficient percentage annually between 2017 and 2025. This symbolizes an accumulative revenue of handsome USD in billion during 2017-2025 owing to a substantial adoption of automated storage and retrieval systems, automated medication dispensing systems, table-top tablet counters, automated packaging and labeling systems, and automated drug compounding devices in hospital pharmacies, retail drug stores and several other types of pharmacies in this economy. Additionally, the APAC pharmacy automation systems are sectored into different sectors which majorly involve product type, region and end users. Furthermore, many of the market leaders are committed to integrated several benefitted integrated strategies and policies in order to deliver the real advantages to patients along with the increasing revenues. Therefore, in the coming years, it is predicted that the market of APAC pharmacy automation systems will increase more positively over the forecasted period.

For More information about the report, refer to below link:-

APAC Pharmacy Automation Systems Market

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Increasing Ultimatum For The Spine Orthopedic Devices Globally Market Outlook: Ken Research

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The spinal implants are effectively utilized in treating the syndromes of the spinal column. An efficient increase in the incidence rate of the spinal syndromes which includes spondylolisthesis, and disc-related issues, and spinal stenosis, are fueling the market growth. Such implants are composed of metals likewise the titanium alloy, stainless steel, and bio-absorbable materials. Whereas, most of the spine implants are utilized to accurate deformities of the spine by steadying and establishment the spine. The significant development in spine orthopedic devices sectors has attained the huge importance in enhancing the developed implants with innovative orthobiologics (biomaterials). Moreover, the spine orthopedic devices market is sectored into two major types such as spinal fusion implants and spine non-fusion implants. Furthermore,the vendors are efficiently aiming on manufacturing the spine orthopedic implants, unambiguously for population in these countries to acquire the better outcomes and effective rise in the awareness among the populace.

According to the report analysis, ‘Global Spine Orthopaedic Devices Market: Drivers, Restraints, Opportunities; Trends and Opportunities to 2023’ states that there are several key players which are presently functioning in this sector more actively for leading the fastest market growth and dominating the handsome value of market share across the globe during the short span of time while working efficiently with the growth opportunities, transforming the working techniques for deliver the better consumer satisfaction and spreading the awareness related to the profitable applications of spine orthopedic devices includes Zimmer Biomet Holding, Inc, DePuySynthes, Inc., NuVasive, Inc, Stryker Corp, and Medtronic PLC, and other predominant & niche players.

The Global Spine Orthopedic Devices Market is predicted to observe a handsome CAGR of 6.23% during the forecast period of 2017-2023. Moreover, the global market of spine orthopedic devices is segmented into different sectors which majorly involves product type, end-users and regions. Whereas, based on the region, the market of spine orthopedic devices is spread around the globe more positively which majorly involves North America, Europe, Asia Pacific (APAC), and RoW. However, the North America is set to be the significant economy for the spine orthopedic devices market growth followed by Europe. There has been an efficient increasing number individuals undergoing treatment for several spine orthopedic processes in the US with the presence of leading merchants in this region.

Although, the Europe registered for the second foremost market with chronic pain being one of the major complications with the increasing burden of spine chronic cases (lower back).Whereas, Vendors of the respective region are effectively focusing in investing the handsome amount on R&D to improve the new innovative products in the market with fresher applications to offer. Most of the potential vendors in the market are significantly aimed on enlarging their business by mergers and acquisitions, partnerships, and trade shows.

The Spine orthopedic devices endure to present a substantial advancements in the patient outcomes by providing the high-quality and life-sustaining treatment. This aspects delivers the market with enormous potential to increase in the both developed and underdeveloped regions. The foremost players of this market are investing in R&D for the development of new products to attain the major market share globally. Therefore, in the coming years, it predicted that the market of spine orthopedic devices will increase across the globe more positively over the recent few years.

For more information on the research report, refer to below link:

Global Spine Orthopaedic Devices Market

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Dynamics Of The Worldwide Software Defined Everything Market Outlook: Ken Research

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The software-defined everything has become exhortation in the IT world and is shifting towards the software-defined future. It can be considered as a movement towards delivering more authority to software systems to hold the different types of multi-piece hardware systems. In such an environment, intelligent software could control, manage, and automate the entire data center infrastructure. Such a virtualized infrastructure can be delivered as a service and delivery organizations with the scalability, flexibility, added speed and savings on the capital and operational expenses. The umbrella term incorporates a number of software-defined technologies such as software-defined networking, software-defined data centers, and software-defined storage. Furthermore, the players of software-defined everything market are effective in analyzing the related profitable aspects of the market and examine the changing behavior of the end users or consumers which further benefitted for increasing the value of the market share and leading the fastest market growth during the forecasted period in the coming years more effectively.

According to the report analysis, ‘Worldwide Software Defined Everything (SDE/SDX) Market - By Types (SDN (Infrastructure, Cloud Virtualization, Applications, Services), SDS (Hardware, Software), SDDC (Server Virtualization, Network Virtualization, Storage Virtualization), End-users (BFSI, Healthcare, Government, Retail, Manufacturing, IT & Telecom, Others) By Regions - Drivers, Opportunities, Trends, and Forecasts, 2016-2022’ states that there are several keys players which are presently functioning in this sector more actively for leading the fastest market growth and dominating the fastest market growth more positively in the coming years while effectively managing the traditional networks, a significant increase in the adoption of SDE while spreading the awareness related to the applications and rising security concerns include VMware Inc., Hewlett Packard (HP) Enterprise, Dell Inc., Cisco, Infoblox, Big Switch Networks Inc., Nexenta Systems Inc., Extreme Networks, Pivot3, Swiftstack Inc., DataCore Software Corporation, Metaswitch Networks, Coraid Inc. (SouthSuite Inc.) and several others.

The worldwide software-defined everything market is predicted to observe an effective CAGR during the forecasted period. Moreover, factors being measured to alter the SDE enhancements in network stability, time to market, and deduction in provisioning time. Areas, where its required is being mentioned, involve Cloud, Internet of Things and Big Data. Whereas, the term SDE was invented by IBM to detail its visualization of the software-defined future. In addition, what began as application, incorporation and middleware group got progressed to software-defined environments group classified the IBM software group. With the transforming business need and an enormous amount of data being built, more and more budgets are being apportioned to IT in an organization.

Additionally, the significant acceptance of the IoT, hardware-free systems, growing infrastructure flexibility, the effective increase in the performance and capacity, growth of the cloud computing technology, software as a core strategy and several others are the major growth drivers of this market. Therefore, in the near future, it is anticipated that the market of software-defined everything will increase around the globe more significantly over the reviewed period.

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Worldwide Software Defined Everything (SDE/SDX) Market

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Landscape of the Asia Pacific Iot (Internet of Things) Security Market Outlook: Ken Research

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The technology of Internet of Things of the internet-linked objects, which gather and exchange the data utilizing the embedded sensors. In the recent era, the Internet of Things has efficiently managed to penetrate day to day life and thus, enterprises serving the Internet of things based solutions have begun investing a high amount on its security issues. Moreover, the technology of internet of things is one of the foremost effective technology trends and has attracted attention of numerous companies around the word. With the significant increase in the incorporation of IoT products in wireless networking, artificial intelligence, and machine learning coupled with the effective improvement of sensors and microcontroller, the demand for the security for the consistent operations of the technology is becoming compulsory.

Additionally, the emerging network of associated devices is offering developed energy efficiency, advanced management of patients, and augmented manufacturing procedures. The augmented usage of the linked IoT technologies has left the organization network and devices defenseless to security breaches, thereby fueling the awareness reglated to the cyber-attacks among customers as well as businesses. According to the report analysis, ‘ASIA PACIFIC IOT SECURITY MARKET - REGIONAL DRIVERS, OPPORTUNITIES, TRENDS, AND FORECASTS TO 2023’ states that there are several key players which are recently functioning in this sector more actively for registering the fastest market growth and dominating the handsome value of market share across the globe throughout the short span of time while depleting the operation cost, analyzing and studying the regulatory compliance and increasing requirement for the cloud security includes McAfee, Cisco,Symantec, IBM , and FireEye. Moreover, the significant rise in the IoT security spending by the enterprises in the underdeveloped regions is projected to deliver the lucrative growth opportunities to the market.

Although, in the manufacturing segment, its acceptance is whispered to significantly decrease the bottlenecks, develop the effectiveness and augment the profitability. Restaurant and retail chains could adopt the IoT technology to observe the customer movements, develop the supply chain management and improve the overall customer observation. Moreover, the developed IoT security controlling skills and organizational deviations are further anticipated to bolster the acceptance of IoT security during the forecast period. With enhancing technical proficiency for the infrastructure handling, IoT security will find an augmented the implementation in organizations.

Nonetheless, the development of new IoT products such as home automation components, internet-enabled appliances and energy maintained devices are transforming the whole scenario of IoT industry. For instance, the price of IoT security solutions may influence the growth of the market primarily. But as customers are increasingly pinched to the accessibilities and advantages of the IoT devices the IoT market is predicted to observe the growth globally.

However, the growing requirement for the data security has led to execution of stringent laws and regulation by governments of several regions, which is anticipated to fuel the ultimatum for the IoT security services and effective solutions during the forecast period. Therefore, in the coming years, it is predicted that the market of Asia Pacific IoT security will increase across the globe more positively over the reviewed period.

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Asia Pacific Internet of Things Security Market

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Mobile Value Added Services (MVAS) Market Outlook- Ken Research

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Value Added Services are the Non–core services provided along with the core services in any type of service industry. So, in mobile and telecommunication industries, VAS is those services provided along with standard voice calls. They are mostly availed with less or no cost at all. This VAS improves the value of their standard services and provides for driving up the average revenue per customer/user (ARPU) by retaining the customers. Earlier, VAS in telecommunication was MMS, data access and SMS. However, with changes in time, they have become standard offerings for the companies. VAS these days are marketed as premium features and they are beneficial to both the companies and users since enhance user’s value and provide valuable data for analytical purposes. However, they should not be considered as a tool for diversification.

The Report Mobile Value-Added Services (MVAS) Market In India - Trends & Forecast, 2015-2020 gives a detailed analysis of the Indian market for mobile value-added services (VAS). The report provides information related to the latest industry and market trends, key stakeholders, industry pest analysis, Porter's Five Forces analysis, and competitive landscape. The report covers competitive landscape, which includes mergers & acquisitions, joint ventures & collaborations, and competitor comparison analysis. It includes implementation, opportunities, and adoption rate of MVAS in various industries. The top players in the market are CanvasM Technologies, Comviva Technologies, IMImobile Pvt. Ltd. and On Mobile Global.

Since market liberalization and globalization have changed the dynamics of business, companies are constantly coming up with new innovative ways to retain their customers, which is essentially how VAS started functioning. Since the mobile communications market is rapidly changing, the average revenue per user that is generated from their core service of voice calls are declining due to plunging in tariffs and saturation in the market. Thus quality services would only be the competitive advantage to sustain. These services include live streaming, recorded messages, dating, and SMS chatting services, balance checking, mobile advertising, OTT and mobile TV services, WAP content downloads to name a few. The main stakeholders that are involved in the value chain include content copyright owners, mobile operators, handset manufacturers, technology enablers.

The industry has boomed and blossomed in the past mainly due to the booming economy, increase in mobile and internet penetrations and personalization of content. Studies show how the mobile subscriber base has multi-folded increased in the past decade. Since the mobile channel is one of the most effective ways to communicate to the mass, VAS types are receiving many investments from both SMEs and larger enterprises. Entertainment is expected to lead the market followed by M-Commerce and M-Banking. Other expected market segments are videos, movies, music, live TV and so on with concentration in the entertainment sector.

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Mobile Value-Added Services (MVAS) Market

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Increase in Disposable Income, Favorable Security Regulations, and Rise in Urbanization to Drive Autonomous Vehicle Security Market over the Forecast Period: Ken Research

Autonomous vehicle is a vehicle that can direct itself exclusive of human conduction. This vehicle has become a concrete reality & may pave the technique for future systems where computers capture the art of driving. It is also known as a robot vehicle, driverless vehicle and self-driving vehicle. These vehicles are susceptible to cyber attacks & the number of vehicle hacking or theft are increasing owing to less awareness concerning the security solutions.

According to study, “Autonomous Vehicle Security Market: Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023” some of the major companies that are currently working in the autonomous vehicle security market are Toyota Motor Corp., Cisco Systems Inc., Siemens AG, Ford Motor Company, Argus Cyber Security, Robert Bosch GmbH, Arilou Cyber Security, Karamba Security, ESCRYPT - Embedded Security, Secunet Security Networks AG.

Based on vehicle type, autonomous vehicle security market is segmented into fully autonomous vehicle and semi autonomous vehicle. Semi autonomous vehicles are light commercial vehicles, passenger vehicle and heavy commercial vehicles. The passenger vehicles are implementing more security solutions because of the increasing autonomous or connected vehicle usage across the regions. The escalating investments in the governments is expected to be emergent connected by providing the mobility solutions in smart cities that are estimated to drive the market over the forecast period. Based on security type, market is segmented into network security, application security, wireless security, cloud security & others. The wireless & cloud security solutions are mainly subjected by the pure play software developed by the manufacturers due to their presented developments in the cloud & connectivity infrastructure. Based on the services platform, market is segmented into integration services providers, consulting services providers, maintenance services providers and others. These platforms offer required service connectivity for the completion of security solutions in the autonomous vehicles. Based on solution type, market is segmented into Unified Thereat Management (UTM), Identity Access Management (IAM), risk & vulnerability management, Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS), distributed denial of service (DDoS) mitigation, data loss prevention (DLP), anti-malware, and others.

The autonomous vehicle security market is primarily driven by growing software demand driven by the consumer experience. Some of the other driving aspects include increase in disposable income, favorable security regulations, rising urbanization and increase in adoption of connected vehicles. Apart from the advantages, the major hinder associated to market is the higher installation cost, followed by potential failure of technology solutions. In addition, the key opportunity includes rising developments in the innovative security solutions.

Recently, U.K. government has come up with a new cyber security standard for emergent self-driving car technology to prevent vehicle hacking. Additionally, car industry privileged offer a new guidance on data theft & hacking.

Autonomous & connected vehicles are susceptible to cyber attacks and the number of vehicle hacking or theft are increasing caused by less awareness about the security solutions. The governments in the residential markets have developed vehicle security regulations to conquer the cyber threats, and therefore, it has become consent for the vendors to develop in-vehicle, network and cloud based security systems. The autonomous vehicles security market is witnessing a high growth, globally, owing to the rising demand for connected & autonomous vehicles in the commercial or passenger segments. In addition, the fully autonomous vehicles are also probable to become key consumer of vehicle security solutions on account of increase in developments for this segment.

For more information, click on the link below:

Autonomous Vehicle Security Market

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