Predictive Vehicle Technology Market to Grow at a CAGR of 13.5% to reach US$ 48.83 Billion from 2020 to 2027

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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)

Publication Month: Apr 2020 | Report Code: TIPRE00006520 | No. of Pages: 177 | Category: Automotive and Transportation | Status: Published

The predictive vehicle technologymarket was valued at US$ 21.03 billion in 2019 and is expected to grow at a CAGR of 13.5% from 2020 to 2027 to reach US$ 48.83 billion by 2027.

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.

Lucrative Regionsfor Predictive Vehicle TechnologyMarket

Lucrative Regionsfor Predictive Vehicle TechnologyMarket

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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.

Hardware-BasedInsights

The predictive vehicle technology market, by hardware, is subsegment edintoADAS, telematics, and OBD. The ADASsegment captured a dominating share ofthe global predictive vehicle technology market.To ensure the safety of drivers and lower road accidents, the requirement for ADAS is growing across countries. For instance, the US and the European Union are making compulsory for vehicles to be equipped with forward-collision warning systems and autonomous emergency braking systems.


Global Predictive Vehicle TechnologyMarket, by Vehicle Type – 2019& 2027

Global Predictive Vehicle TechnologyMarket, by Vehicle Type – 2019& 2027

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Application-Based Insights

The predictive vehicle technology market, by application, is further segmentedintoproactive alerts safety and security.The safety and securitysegment captured a dominating share ofthe global predictive vehicle technology market.The external IoT sensors work as proximity sensors and rear-view cameras, which make driving safer, parking, and allow blind spot detection for drivers. Also, these sensors and cameras track road conditions, weather conditions, and traffic patterns. With the help of connected cars integrated with predictive technology, prediction and prevention of collisions and accidents have become possible.

Strategic Insights

Report Coverage - Predictive Vehicle Technology Market
Report CoverageDetails
Market Size Value inUS$ 21.03 Billion in 2019
Market Size Value byUS$ 48.83 Billion by 2027
Growth rateCAGR of 13.5% from 2020-2027
Forecast Period2020-2027
Base Year2020
No. of Pages177
No. of Tables78
No. of Charts & Figures78
Historical data availableYes
Segments coveredHardware ; Vehicle Type ; Application
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Market initiative and new development strategiesarecommonly adopted by companies to expand theirfootprint worldwide and meet the growing demand. These strategiesaremostlyobserved in North America and Europe. The players present in the predictive vehicle technologymarket adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally.

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


Predictive Vehicle TechnologyMarket – By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • 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

Frequently Asked Questions

The continuous growth in the economies of developing countries, such as India and China, and huge disposable incomes in Japan and Australia, among others, have facilitated the rapid growth of the automotive industry in this region. The auto manufacturers in APAC are focusing on developing technologically advanced products to gain a strong market position. The automotive industry in Asian countries is growing; however, due to amid outbreak of COVID-19, the production of automotive could witness a few interruptions. In context to sales of automobiles in the Asian countries, such as India, it has witness a drop in sales, which might be a pressing situation in the connected car industry.
Data management is a prevailingopportunity in a connected car arena. Connected cars stream massive amounts of data into the cloud, and thus to utilize extensive data, the need for predictive analysis and data analysis is expected to grow. Predictive maintenance, predictive collision avoidance, automotive marketing, automotive marketing, and data management of connected cars are among the concepts responsible for the growth of the market. Thus, the demand for data management solutionsis anticipated to provide growth opportunities for the predictive vehicle technologymarket during 2019–2027.
In 2019, the ADAS segment led the predictive vehicle technology market,by hardware,and it is anticipated to continue its dominance during 2020–2027.Factors such as government regulations and consumer interest in safety applications are accountable to the rising need for ADAS in connected cars.

The List of Companies - Predictive Vehicle Technology Market

  1. AISIN SEIKI Co. Ltd
  2. Aptiv PLC
  3. Continental AG
  4. HELLA GmbH and Co. KGaA
  5. Nxp Semiconductors N.V
  6. Robert Bosch GmbH
  7. Traffilog LTD
  8. Valeo
  9. Visteon Corporation
  10. ZF Friedrichshafen AG
  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the predictive vehicle technologymarket, thereby allowing players to develop effective long term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to components, aircraft type, and end-users.
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