DUBLIN--(BUSINESS WIRE)--The "Automotive Prognostics Market by Application, End-Users and Geography - Global Forecast and Analysis 2019-2023" report has been added to ResearchAndMarkets.com's offering.
Growing popularity of electric vehicle creating demand for prognostic solutions
The adoption of electric vehicles is increasing due to increase in incentives offered by governments across the world. This will create growth opportunities for electric vehicle OEMs as they deploy telematics solutions such as prognostics systems to monitor the health of batteries and electric drivetrains in electric vehicles.
Hence, the developments by vendors toward adopting prognostics solutions in the EVs, coupled with the increasing adoption of EVs, will be a crucial factor driving the market growth. This will lead to the expansion of the global automotive prognostics market at a CAGR of close to 67% during the forecast period.
This automotive prognostics market analysis considers sales from end-users including aftermarket and OEMs. The analysis also considers the sales of automotive prognostics in APAC, Europe, North America, South America, and MEA.
In 2018, the aftermarket segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the demand from fleet operators will play a significant role in the aftermarket segment to maintain its market position.
Also, the report looks at factors such as maintenance cost saving benefits of the automotive prognostic system, the growing popularity of electric vehicle creating demand for prognostic solutions, and increased focus of prominent automotive OEMs for improving vehicle diagnostics services.
However, high cost associated with telematics services exert pressure on the adoption of the prognostic system, development of in-house telematics solutions, and need for efficient regulations to cater to informative piracy and security issues posed by telematics solutions may hamper the growth of the automotive prognostics industry over the forecast period.
High cost associated with telematics services exert pressure on the adoption of the prognostic system
The setting up of telematics systems not only involves the installation fee and initial cost but also involves customization and integration costs. In addition, it involves roaming charges. These charges pose a challenge in the market growth as it negatively influences the purchase decision of customers, thereby, minimizing the need for automotive prognostics for determining the RUL of vehicle components.
With the presence of few major players, the global automotive prognostics market is moderately concentrated. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive prognostics manufacturers that include: Ansik, Cloudera, General Motors Co, Open Text Corp, Pivotal Software, and Robert Bosch.
Also, the automotive prognostics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Comparison by application
- Commercial vehicles - Market size and forecast 2018-2023
- Passenger cars - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY END-USER
- Comparison by end-user
- Aftermarket - Market size and forecast 2018-2023
- OEMs - Market size and forecast 2018-2023
- Market opportunity by end-user
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
- Traditional automotive suppliers entering automotive telematics market
- Development of autonomous vehicles to benefit prognostics demand
- Implementation of 5G technology to enhance prognostics efficiency
PART 13: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Ansik Inc.
- Cloudera Inc.
- General Motors Co.
- Open Text Corp.
- Pivotal Software Inc.
- Robert Bosch GmbH
For more information about this report visit https://www.researchandmarkets.com/r/hl4bf1