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Automotive Prognostics Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Automotive Prognostics Market Size
The automotive prognostics market has grown rapidly, with projections increasing from $8.32 billion in 2024 to $9.68 billion in 2025, achieving a CAGR of 16.3%. Key factors contributing to this growth include increasing vehicle complexity, regulatory compliance, a growing focus on fleet management, adoption by manufacturers and aftermarket players, and integration with telematics systems.
The automotive prognostics market is expected to see rapid growth, reaching $16.28 billion by 2029 at a CAGR of 13.9%. Growth can be attributed to advancements in AI and machine learning, increasing vehicle connectivity, a focus on electric and hybrid vehicles, customized predictive maintenance, and regulatory emphasis on predictive maintenance. Key trends include collaboration with data analytics providers, cybersecurity considerations, advancements in sensor technologies, connected car technologies, and condition-based monitoring.
What Factors Are Propelling the Expansion of the Automotive Prognostics Market?
Finally, the rise in road accidents is expected to drive the automotive prognostics market, which focuses on predictive maintenance to reduce accidents and improve road safety. In 2023, Wales reported a 2% increase in road casualties, emphasizing the need for predictive diagnostics to enhance vehicle safety and reduce road accidents.
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Which Businesses Are at the Forefront of Automotive Prognostics Market Development?
Major companies operating in the automotive prognostics market report are Stellantis N.V., General Motors Company, Bayerische Motoren Werke AG, Tesla Inc., International Business Machines Corporation, DENSO Corporation, Continental AG, Magna International Inc., Bridgestone Corporation, Cummins Inc., ZF Friedrichshafen AG, Lear Corporation, Infineon Technologies AG, NXP Semiconductor Inc., Harman International Industries, Delphi Technologies, Garrett Motion Inc., Ansys Inc., Digital Management LLC, HCL Technologies Limited, Robert Bosch GmbH, Aeris Communications, Covisint Corp., Cognosos Inc., Preteckt Inc., Acerta Analytics Solutions Inc., Ansik Inc., Hitachi Astemo Ltd
What Are the Latest Innovations in the Automotive Prognostics Market?
In the automotive prognostic market, companies are forming strategic partnerships to develop innovative prognostic solutions. These collaborations help automotive prognostic firms by pooling resources and expertise, which accelerates research and development, expands market access, and speeds up commercialization. For instance, Infineon Technologies AG, a semiconductor manufacturer based in Germany, partnered with UK-based software firm Eatron Technologies in October 2023 to improve automotive battery management systems (BMS). This partnership integrates machine learning into Infineon's AURIX TC4x microcontroller, focusing on optimizing battery performance and enhancing prognostics, including predictions on state of health (SoH) and remaining useful life (RUL).
How Is the Automotive Prognostics Market Segmented?
The automotive prognostics market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Vehicle Type: Passenger Vehicle, Hatchback, Sedan, Utility Vehicle, Light Commercial Vehicle, Trucks, Buses And Coaches
3) By Application: Engine (Combustion Control, Condition Monitoring), Battery (Electric Power Generation, Traction Battery), Power Steering System, Suspension System, On Board Monitoring And Diagnostics (OBMD)
4) By End User: Original Equipment Manufacturer(OEM), After market, Fleet Operators, Private Owners
Subsegments:
1) By Hardware: Sensors, Data Acquisition Systems, Onboard Diagnostic Devices, Communication Interfaces
2) By Software: Predictive Analytics Software, Diagnostic Software, Data Visualization Tools, Machine Learning Algorithms
3) By Services: Consulting Services, Implementation And Integration Services, Maintenance And Support Services, Training And Education Services
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Where Is the Automotive Prognostics Market Growth Most Prominent?
North America was the largest region in the automotive prognostics market in 2024. The regions covered in the automotive prognostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Automotive Prognostics Global Market Report?
- Market Size Analysis: Analyze the Automotive Prognostics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Prognostics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Prognostics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Prognostics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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