Berg Insight, the world’s leading IoT market research provider, today released new findings about the market for electric aircraft and eVTOLs (passenger vehicles that take off and land vertically). There are today many large-scale industrial projects in development with the purpose of developing aircraft and eVTOLs based on electric drivetrains.

The Inflation Reduction Act of 2022 introduced a host of incentives and programs that will affect the demand dynamics for electric vehicles (EVs). The new law is not only rearranging who the front-runners are in the EV standings, but may also bring new demographic segments of the population into the market.

Based on updated Electric Vehicle (EV) introduction plans announced recently by automakers, the complete transition to EV production for many OEMs could come as soon as 2030. According to ABI Research, auto OEMs will invest an estimated $515 billion in EV-related technologies and manufacturing plant upgrades over the next 5 to 10 years.

India is expected to aggressively push toward electrification in the near future. Mega Trends such as rapid urbanization, rising fuel costs, traffic congestion, pollution, emerging economic growth, and energy security will drive EV adoption in the country in the next few years.

Electric vehicle (EV) registrations in the US in 2020 reached record market share of 1.8%, demonstrating increased consumer interest for electric vehicles, according to new analysis from IHS Markit (NYSE: INFO), a world leader in information, analytics and solutions.

Nevertheless, gasoline-powered vehicles will still comprise two thirds of the 1.9 billion cars on the road in 2050 owing to the time it takes for the fleet to turn over. The average age of vehicles on the road in the United States is nearly 12 years.

Sensor market growth will be dictated by an expected increase in demand for electric vehicles. The forecasts that the global market for current, position/speed and temperature sensors, will grow at a CAGR of 25.7% over the 2019 – 2024 time frame, according to Strategy Analytics.

The rise of smart cities will accelerate the adoption and growth opportunities of demand response (DR) solutions in the residential segment, according to new research from Frost & Sullivan.