Predictive Vehicle Technology Market Worth $48.83 billion by 2027

According to The Insight Partners study on “Predictive Vehicle Technology Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Hardware (ADAS, Telematics, OBD); Vehicle Type (Commercial Vehicle, Passenger Car); Application (Proactive Alerts, Safety and Security)” the market is projected to reach US$ 48.83 billion by 2027 from US$ 21.03 billion in 2019; it is expected to register a CAGR of 13.5% during 2020–2027.

Report Coverage  - Details

Market Size Value in  - US$ 21.03 Billion in 2019

Market Size Value by  - US$ 48.83 Billion by 2027

Growth rate  - CAGR of 13.5% from 2020-2027

Forecast Period  - 2020-2027

Base Year  - 2020

No. of Pages  - 177

No. Tables  - 78

No. of Charts & Figures  - 78

Historical data available  - Yes

Segments covered  - Hardware ; Vehicle Type ; Application

Regional scope  - North America; Europe; Asia Pacific; Latin America; MEA

Country scope  - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage  - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Companies Profiled in this report includes: AISIN SEIKI Co.Ltd., Aptiv PLC, Traffilog LTD, Continental AG, NXP Semiconductors N.V., Robert Bosch GmbH, Valeo, Visteon Corporation, HELLA GmbH & Co. KGaA, ZF Friedrichshafen AG

The predictive vehicle technology market has witnessed eminent growth in the last couple of years globally. The predictive analytics support the automotive industry in managing automotive marketing challenges. By using predictive analytical tools, complex algorithms, and customer relationship management (CRM) platform, the automakers can meet thecustomerdemands as these technologies are majorly digitallyconnected. Also, in context to the adoption of predictive automobile technology, collaborations are taking place. Huge investments are required for building a new vehicle integrated with complex technologies. Therefore, the automakers and tech companies are looking ahead to partnering in order to mitigate the risks. For instance, Volkswagen and Ford are expected to join forces todevelop autonomous vehicles. Alliances and integration of advanced technologies are contributing toward booming predictive automobile technology and so the market growth.

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Market Insights

Emergence of self-driving cars

The auto manufacturers and tech companies are involved in the development of sophisticated technologies that enable automobiles to drive themselves. In the race of testing self-driving vehicles, Google is leading the race, followed by Audi, Toyota, and Mercedes-Benz. In addition to the rising emergence of self-driving vehicles, changing government regulations and collaborations are among the major trends that would support transforming the automotive industry. Regulations such as the EU, Canada, and China are passing legislation and functioning on frameworks that encompass rules around occupancy requirements, electrification, reporting requirements, and considerations for land use and transit planning. Due to aforesaid factors, the global predictive vehicle technology market is projected to grow.

Vehicle Type-BasedInsights

Based on type, the predictive vehicle technology market,is further segmented into commercial vehicle and passenger car.The passenger car segment captured a dominating share ofthe global predictive vehicle technology market.Delphi andRobert Bosch are a few companies engaged in the business of offering advanced vehicle-related technology solutions to the passenger car segment.

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Predictive Vehicle Technology Market – By Hardware

ADAS

Telematics

OBD

Predictive Vehicle TechnologyMarket – By Vehicle Type

Commercial Vehicle

Passenger Car

Predictive Vehicle TechnologyMarket – By Application

Proactive Alerts

Safety and Security

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Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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