Automotive Predictive Technology Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Automotive Predictive Technology Market is segmented by Vehicle type (Passenger Cars and Commercial Vehicles), by End -User type (Fleet owners, Insurers, and Other End-Users) , by Hardware type (ADAS, Onboard diagnostics, and Other Hardware types), by Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report offers market size and forecast for Automotive Predictive Technology in Value (USD billion) for all the above segments.

Market Snapshot

Automotive Predictive Technology Market_Overview
Study Period: 2018-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 8.21 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Automotive Predictive Technology market was valued at USD 54.45 billion on 2020 and is expected to reach USD 87.66 billion in 2026 by registering a CAGR of 8.21% during the forecast period (2021 - 2026).

The outbreak of COVID-19 has shown a negative impact on the automotive predictive technology market. Several vehicle and component manufacturing facilities across the globe were temporarily shut down, resulting in disturbances in supply chain. However, by the end of Q1 2021, the global automotive industry started recovering slightly, as governments across the globe have announced relaxations in lockdown measures.

While new vehicle sales across the globe started to increase slightly, the disruption in supply chain has created a huge chip shortage, due to which several vehicle manufacturers have delayed the launch of new vehicles. However, by the end of 2021, with increasing trend for technologically advanced features in the vehicles, such as artificial intelligence and machine learning to enhance safety features like ADAS and predictive maintenance to reduce vehicle downtime and increase vehicle performance cost-effectively are driving the market growth.

Asia-Pacific is expected to dominate the automotive camera market, owing to the increasing demand for luxury vehicles across India, China, Japan. The increasing installation of advanced driver-assistance systems (ADAS) is estimated to boost the demand for automotive cameras in the coming years across the region.

Scope of the Report

Automotive Predictive vehicle technology is a set of vehicle technologies that incorporates predictive analytics with the use of both real-time and historical data that forecast activity, behavior, and faults that might hamper vehicles if not corrected in real time. The report covers the latest trends, COVID-19 impact, and technological developments in the market.

The Scope of the report covers segmentation based on Vehicle type, End-User type, Hardware type, and Geography. By Vehicle type, the market is segmented into Passenger Cars and Commercial Vehicles. By End -User type, the market is segmented into Fleet owners, Insurers, and Other End-Users.

By Hardware type, the market is segmented into ADAS, Onboard diagnostics, and Other Hardware types. By Geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment market sizing and forecast have been done on basis of Value (USD billion).

By Vehicle Type
Passenger Vehicles
Commercial Vehicles
By End-User Type
Fleet Owners
Insurers
Other End-Users
By Hardware Type
ADAS
On Board Diagnosis
Other Hardware Types
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Mexico
United Arab Emirates
Other Countries

Report scope can be customized per your requirements. Click here.

Key Market Trends

ADAS Segment Likley to Dominate the Market During the Forecast Period

In recent years, the automobile industry motivated its research and development work for improving the ADAS systems. This led to further improvements in the advanced driving assistance systems, with a surge in demand for night-time pedestrian detection systems, lane departure warning systems, cameras, RADAR, and other sensors, which are being deployed into vehicles at considerable pace. This is expected to drive the market studied.

Moreover, companies like Audi, BMW, Daimler, and Volvo are few of many OEMs started offering night-time pedestrian detection systems. It alerts the driver or automatically brakes if there is a pedestrian in the path between a certain speed range.

Several major service providers are spending heavily in research and development of the latest ADAS technologies for vehicles to gain the market share. Not only the major companies several startups are coming up with the latest innovative ideas and technologies, which are funded by these major players. For instance,

  • In July 2020, Mobileye, Intel’s driverless vehicle R&D division, announced that the German certification body, TÜV Süd, awarded it a recommendation for a permit to drive its autonomous vehicles on public roads in Germany, including urban and rural areas as well as the Autobahn, at up to 130 kilometers (~80 miles) per hour in real-world traffic.

Owing to such developments, ADAS segment of the market expected to dominate market during the forecast period.

Automotive Predictive Technology Market_Key Market Trend1

Asia-Pacific Region Expected to Grow Significantly

Asia-Pacific is expected to be the fastest-growing market during the forecast period. Vehicle hybridization and electrification, increasing production of electric vehicles, are primary factors driving the demand in the market. Countries like India, China, Japan is picking up pace as predictive technology implementation in passenger cars is taking place gradually, as such cars or commercial vehicle equipped with such technology are in a bit higher price segment and some other reasons include poor infrastructure and regulations.

Automobile manufacturers in the Asia-pacific region are also investing in predictive technology and launching new products equipped with features based on predictive technology. For instance,

  • In April 2021, Toyota Motor Corp. unveiled in Japan new versions of the Lexus LS and Toyota Mirai, both equipped with Advanced Drive features a Level 2 autonomous system that helps keep the car in its lane, maintains the distance from other vehicles, and assists with lane changes and advanced-driver assistance and Toyota has also announced the purchase of Lyft’s autonomous car division for USD 550 million.
  • In July 2021, the Indian start up Minus Zero has developed an autonomous system, which is based on AI and machine learning designed in such a way to work in India traffic condition.

Such factors are creating huge opportunities for predictive technology across Asia-Pacific further the demand for such technology is going to rise in near future.

Automotive Predictive Technology Market_Key Market Trend2

Competitive Landscape

The Automotive Predictive Technology market is fragmented, with several players vying for significant amounts of shares in the market. Some of the prominent companies in the automotive predictive technology market are Continental AG, ZF Friedrichshafen AG, Robert Bosch, Aptiv PLC, Valeo SA, and Others. These companies are focusing on strategic collaborative initiatives to expand their market shares and profitability. For instance,

  • In November 2021, Valeo launched WoodScape, the first ever surround‑view fisheye camera 360 degrees open-source dataset, with the aim of taking research in computer vision to develop automated driving and parking. Valeo produces fisheye cameras enabling 360° perception, key for automated driving.
  • In June 2020, Bosch announced the launch of new MEMS sensor the SMI230 that enables trouble-free navigation and helps realistic visualization of vehicle movements, detecting vibrations impacts against a car, trigger alarm systems for enhanced safety.
  • In January 2019, Visteon Corporation a leading automotive cockpit technology company, is enhancing its Drive Core Studio™ autonomous driving development environment through software from Microsoft Corp. that maximizes the power and scalability of the Cloud. This Cloud-based development environment, enables automakers and partners to create and support an ecosystem of algorithm developers, unlocking innovation potential through an open framework for developing algorithms using sensor-based artificial intelligence (AI).

Recent Developments

  • In July 2021, ZF premiered its new ZF ProAI supercomputer at IAA 2021 in Germany. This system comes equipped with control units, software, sensors, and actuators for software-defined vehicles and offers the latest security mechanisms against cyber threats by offering customized computing power for vehicles of any level of automation.
  • In June 2021, Garrett Motion Inc. announced that it has launched a new software solution focused on Model-Based Predictive Control (MPC) technology with Hyundai Motor Company (HMC). The launch by Garrett encompasses Hyundai’s all-new i20 N and is expected to include other vehicle models equipped with HMC’s new 1.6-liter turbocharged engine.
  • In February 2021, Robert Bosch announced its collaboration with Fetch.ai to leverage the latest technologies like blockchain to exchange data with peers without triggering privacy controls.
  • In January 2021, HARMAN announced HARMAN Turbo Connect (TBOT), a new intelligent software agent that anticipates and mitigates vehicle connectivity discrepancies on the road. The HARMAN TBOT satisfies the current demand for high-speed connectivity with low latency, especially when used alongside 5G-enabled technologies like HARMAN’s Smart Conformal Antenna and full 5G and 5G-ready Telecommunications Control Units (TCU).

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Vehicle Type

      1. 5.1.1 Passenger Vehicles

      2. 5.1.2 Commercial Vehicles

    2. 5.2 By End-User Type

      1. 5.2.1 Fleet Owners

      2. 5.2.2 Insurers

      3. 5.2.3 Other End-Users

    3. 5.3 By Hardware Type

      1. 5.3.1 ADAS

      2. 5.3.2 On Board Diagnosis

      3. 5.3.3 Other Hardware Types

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 India

        3. 5.4.3.3 Japan

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Mexico

        3. 5.4.4.3 United Arab Emirates

        4. 5.4.4.4 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Continental AG

      2. 6.2.2 Aptiv PLC

      3. 6.2.3 Garrett Motion Inc.

      4. 6.2.4 Harman International Industries Incorporated

      5. 6.2.5 Visteon Corporation

      6. 6.2.6 ZF Friedrichshafen AG

      7. 6.2.7 Valeo SA

      8. 6.2.8 Robert Bosch GmbH

      9. 6.2.9 Verizon

      10. 6.2.10 Infineon Technologies AG

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Automotive Predictive Technology Market market is studied from 2018 - 2026.

The Automotive Predictive Technology Market is growing at a CAGR of 8.21% over the next 5 years.

The Automotive Predictive Technology Market is valued at 54 Billion USD in 2018.

The Automotive Predictive Technology Market is valued at 87 Billion USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Continental AG, Aptiv , ZF Friedrichshafen AG, Robert Bosch, Valeo SA are the major companies operating in Automotive Predictive Technology Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!