DUBLIN--(BUSINESS WIRE)--The "Predictive Vehicle Technology Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Hardware; Vehicle Type; Application" report has been added to ResearchAndMarkets.com's offering.
The global predictive vehicle technology market accounted for US$ 21.03 billion in 2019 and is expected to grow at a CAGR of 13.5% during 2020-2027 to reach US$ 48.8 billion by 2027.
Increasing use of predictive technologies in heavy commercial vehicles and use of AI in automotive across the world are the factors stimulating the demand for predictive technology in the automotive industry. Also, the emergence of self-driving vehicles is among the trends that would provide ample growth opportunities to both automotive and tech companies. Moreover, the need to manage massive data generated from vehicles is further expected to fuel the predictive vehicle technology market growth during the forecast period.
Globally, the emergence of autonomous/self-driving vehicles and connected cars would positively impact the use of predictive automobile technology for the development of a predictive collision avoidance system and other systems. As Europe and North America are known for automotive production and technological developments, respectively, the global automotive industry is anticipated to witness transformation. Deployment of advanced technologies, such as AI, ML, and predictive technologies, into cars and other commercial vehicles is rising across the world.
In an era of continuous technological developments, cars are getting modified through a digital platform. In support of the mentioned statement, the testing of autonomous vehicles is taking place in the UK, the US, the Netherlands, Singapore, Japan, and the UAE. APAC held the largest share of the predictive vehicle technology market in 2019 and is expected to continue its dominance during 2020-2027. Europe and North America held the third and second position, respectively, in the global predictive vehicle technology market in 2019.
Reasons to Buy
- 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 technology market, 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.
- Rising use of predictive powertrain control in heavy vehicles
- Integration of AI in automotive industry
- Issues regarding predictive technology
- Demand to ensure proper data management in connected cars
- Emergence of self-driving vehicles
- AISIN SEIKI Co. Ltd
- Aptiv PLC
- Continental AG
- HELLA GmbH and Co. KGaA
- Nxp Semiconductors N.V
- Robert Bosch GmbH
- Traffilog LTD
- Visteon Corporation
- ZF Friedrichshafen AG
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