Automakers have curbed recent supply chain challenges while, at the same time, consumer confidence is returning. Combined, this will ensure that lucrative opportunities exist around the world. To better gauge the automotive industry outlook in 2024 and beyond, ABI Research recently published its Vehicle Shipments and Mobility Services Market Data Overview: 3Q 2024 presentation. The report provides worldwide vehicle sales forecasts, as well as regional analyses. Some of the key trends and data from the report are shared in this article.
Working in a competitive industry demands that you become a data-driven organization. As a technology solution provider, effectively leveraging data can unlock significant advantages, such as driving market expansion and fostering innovation. Unfortunately, all too many companies lack an analytical approach to decision-making.
Batteries are often associated with being hazardous and harmful for the environment. While this is true, their mineral-richness should not be overlooked. When properly recycled, you can recover scarce materials like lithium, nickel, and cobalt from a battery. These minerals can then be reused for future battery manufacturing.
From 2019 to 2023, global Electric Vehicle (EV) sales grew by 506%. From regional policies to consumer sentiment, several factors have brought the EV market to where it is today. While EV sales have improved significantly in recent years, ABI Research has witnessed a market growth slowdown. In developed Western countries, EV prices are still mostly premium, making Internal Combustion Engine (ICE) cars a more affordable option for average consumers. There is a limited number of early adopters willing to pay the premium price for an EV. Now, automakers must find a way to tap into the mainstream consumer base to broaden the market.
If you ask the average American or European consumer to name an Electric Vehicle (EV) brand, most will probably quickly say “Tesla.” A large quantity of Tesla EVs on the road and widespread public charging stations make it hard not to take notice of the EV juggernaut. However, Tesla’s global dominance is threatened by a company few Americans and Europeans would know—BYD.
Demand for Electric Vehicles (EVs) continues to grow every year, and will account for more than 50% of vehicle sales volume by the end of the decade. Governments worldwide and several U.S. states have set bans on Internal Combustion Engine (ICE)/diesel vehicle sales, causing a spike in EV production. However, a lack of charging infrastructure is the elephant in the room. For example, a recent survey from AAA reports that 56% of U.S. consumers say a lack of charging stations is a primary barrier to purchasing an EV. Significant investment in installing public EV charging points is essential if consumer demand for EVs and government mandates can be met. Home chargers alone will not be adequate for the sustained mass use of EVs, especially in developing markets lacking access to home charging equipment.
The year 2024 is set to be a big one for sustainability. Governments worldwide have introduced various policies in recent years that will drive further enterprise investment in green technologies in 2024. Sustainability has ingrained itself into corporate strategies as companies look to appease eco-conscious consumers and adhere to new green regulations. What will this year bring in terms of net-zero emissions efforts? How are enterprises reacting to increased demand to reduce carbon footprints? How can this be achieved? In this post, we’ll share five unique sustainability trends pulled from ABI Research’s annual trends whitepaper.
Battery Management Systems (BMSs) are gaining a prominent role in the world of Electric Vehicle (EV) manufacturing. Looking to cut costs, adhere to government regulations, improve driver safety, and enhance the EV experience, Original Equipment Manufacturers (OEMs) and suppliers can monitor and manage the EV battery pack with an intelligent, cloud-based BMS. The benefits of this technology implementation should not be glossed over.
Market research goes hand-in-hand with maximizing profits at a business enterprise. Whether you’re a vendor or an enterprise implementer of a new technology, in-depth, data-backed intelligence can safely guide your organization toward sustained success. Technology research deliverables identify potential roadblocks and lucrative revenue opportunities for organizations, while giving you a reliable partner to consult with when questions about your respective market inevitably arise. Take, for example, the technology market research case studies we recently compiled, showcasing how our forward-looking methodologies help some of our biggest clients with their digitization journeys. In this blog post, let’s review four of these case studies to give you a better idea of what kind of results you can expect from ABI Research as a technology intelligence partner.
When ABI Research surveyed 1,800 fleet operators last year, the results indicated that 6 out of 10 businesses place fleet electrification as their near-term goal. Consequently, the number of commercial Electric Vehicles (EVs) on the road is forecast to grow from 171,000 in 2020 to approximately 3 million by the decade’s end. Today’s rapid transition to electrified fleets and Zero-Emissions Vehicles (ZEVs) is the result of several internal and external factors. This post covers six of the biggest market drivers for fleet electrification.