Asia Pacific Predictive Vehicle Technology Market Segments and Growth by 2027

The predictive vehicle technology market in APAC is expected to grow from US$ 10.64 Mn in 2019 to US$ 25.33 Mn by 2027; it is estimated to grow at a CAGR of 13.91% from 2020 to 2027.

The China, India, Japan, South Korea, and Rest of APAC are major economies in APAC. Integration of AI in automotive industry recently gained momentum over the past few years. The advanced technologies, such as AI, is gaining popularity across the APAC region. AI has its applications in the automotive industry, such as self-driving cars. The AI offers driver-assist and fully autonomous mode functionality to the users. To take advantage of stated functionalities, companies such as Google and Tesla are looking forward. For instance, Tesla has gained a name in the electric car market, and now the company is looking ahead to make a position in self-driving vehicles by integrating AI, which in turn are driving the growth of Asia Pacific predictive vehicle technology market. Thus, the growth in the integration of AI in automotive industry is expected to create a significant demand for predictive vehicle technology in the coming years, which is further anticipated to drive the market in APAC. The government of countries such as China and India in the Asia Pacific region are taking drastic measures to reduce the effects coronavirus outbreak by announcing lockdowns and travel bans. These measures are expected to have a negative impact on the growth of industries and markets in this region, at least over the coming six to nine months. The precaution measures may also impact the growth of predictive vehicle technology market in this region for a short period of time. Till now, China has the highest number of COVID -19 confirmed cases and reported deaths. The COVID-19 is anticipated to cause huge disruptions in the Asia Pacific region. Asia pacific is a crucial region in terms of manufacturing and industrial growth and any disruptions may negatively impact the growth of various industries dependent on the region for supply and revenues. In terms of automotive production, China is a biggest car market, and Wuhan, which is a center of an outbreak, is called as a “motor city”.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the predictive vehicle technology market. The APAC predictive vehicle technology market is expected to grow at a good CAGR during the forecast period.

APAC Predictive Vehicle Technology Market Segmentation

APAC Predictive Vehicle Technology Market – By Hardware

• ADAS
• Telematics
• OBD

APAC Predictive Vehicle Technology Market – By Vehicle Type

• Commercial Vehicle
• Passenger Car

APAC Predictive Vehicle Technology Market – By Application

• Proactive Alerts
• Safety and Security

APAC Predictive Vehicle Technology Market, by Country

• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Predictive Vehicle Technology Market-Companies Mentioned

• AISIN SEIKI Co.Ltd.
• Aptiv PLC
• Continental AG
• HELLA GmbH and Co. KGaA
• NXP SEMICONDUCTORS N.V.
• Robert Bosch GmbH
• Valeo
• Visteon Corporation
• ZF Friedrichshafen AG

Asia Pacific Predictive Vehicle Technology Report Scope