South America Predictive Vehicle Technology Market Growth Opportunities and Forecast by 2027

The predictive vehicle technology market in SAM is expected to grow from US$ 0.66 million in 2019 to US$ 1.48 million by 2027; it is estimated to grow at a CAGR of 13.0% from 2020 to 2027.

The Brazil, Argentina, and rest of SAM are major economies in SAM. The AI (artificial intelligence) application in the automotive industry gained momentum over the past few years. The advanced technologies, such as AI, is gaining popularity across the SAM region. AI has its several 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 is a popular electric car market, and now the company is looking ahead to make a position in self-driving vehicles by integrating AI. Moreover, the application of AI cloud platforms ensures that data is accessible whenever required. As this technology monitors a number of sensors and detects issues even before they affect the vehicle operation, the automakers are in the race of taking it. For instance, in October 2018, Microsoft and Volkswagen partnered to transform the automobile company into the digital service-driven business. By extracting the power of PowerBI, Azure IoT, and Skype, Volkswagen aims to provide telematics, customer experience, and productivity solutions for an automotive market. Volkswagen has realized that the customers’ demands for more to know about the value in cloud-based AI solutions. Due to this, the company projects to give Over-The-Air (OTA) software updates and predictive maintenance and for their vehicles. Thus, the growth in AI application in the 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 SAM.

In addition to this, in SAM region, Brazil has the highest number of COVID-19 confirmed cases, followed by Ecuador, Chile, Peru, and Argentina, among others. Containment measures in several countries of SAM are also expected to reduce economic activity in the manufacturing and service sectors for at least the next quarter, however, the long-term growth of South America predictive vehicle technology market is projected to be positive in the region.

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

SAM Predictive Vehicle Technology Market Segmentation

SAM Predictive Vehicle Technology Market – By Hardware

• ADAS
• Telematics
• OBD

SAM Predictive Vehicle Technology Market – By Vehicle Type

• Commercial Vehicle
• Passenger Car

SAM Predictive Vehicle Technology Market – By Application

• Proactive Alerts
• Safety & Security

SAM Predictive Vehicle Technology Market - By Country

• Brazil
• Argentina
• Rest of SAM

SAM Predictive Vehicle Technology Market – Company Profiles

• 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

South America Predictive Vehicle Technology Report Scope