What is the current market size and future outlook for the automotive prognostics market?
The automotive prognostics market size has grown rapidly in recent years. It will grow from $8.32 billion in 2024 to $9.68 billion in 2025 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing vehicle complexity, regulatory compliance, growing focus on fleet management, manufacturer and aftermarket adoption, integration with telematics systems.
The automotive prognostics market size is expected to see rapid growth in the next few years. It will grow to $16.28 billion in 2029 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to ai and machine learning advancements, increasing connectivity in vehicles, focus on electric and hybrid vehicles, customized predictive maintenance strategies, regulatory emphasis on predictive maintenance. Major trends in the forecast period include collaboration with data analytics providers, cybersecurity considerations, advancements in sensor technologies, connected car technologies, condition-based monitoring.
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How has the automotive prognostics market evolved, and what factors have shaped its growth?
The rise in road accidents is expected to propel the growth of the automotive prognostics market going forward. Road accidents are the incidents that occur when vehicles on the road collide with one another, with pedestrians, or with stationary objects such as barriers, trees, or utility poles. Predictive diagnosis or automotive prognostics strives to provide successful and effective upkeep planning, resulting in less downtime, lower costs, more safety and increased value for roadways decreasing road accident fatalities. For instance, in June 2024, according to the Llywodraeth Cymru / Welsh Government, a Wales-based government administration, in 2023, police forces in Wales reported a total of 4,348 road casualties, which represents a 2% increase compared to 2022. Therefore, the increased need for predictive diagnosis on the road is driving the automotive prognostics market.
What are the major segments of the automotive prognostics market?
The automotive prognostics market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Vehicle Type: Passenger Vehicle, Hatchback, Sedan, Utility Vehicle, Light Commercial Vehicle, Trucks, Buses And Coaches
3) By Application: Engine (Combustion Control, Condition Monitoring), Battery (Electric Power Generation, Traction Battery), Power Steering System, Suspension System, On Board Monitoring And Diagnostics (OBMD)
4) By End User: Original Equipment Manufacturer(OEM), After market, Fleet Operators, Private Owners
Subsegments:
1) By Hardware: Sensors, Data Acquisition Systems, Onboard Diagnostic Devices, Communication Interfaces
2) By Software: Predictive Analytics Software, Diagnostic Software, Data Visualization Tools, Machine Learning Algorithms
3) By Services: Consulting Services, Implementation And Integration Services, Maintenance And Support Services, Training And Education Services
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Which companies dominate the automotive prognostics market?
Major companies operating in the automotive prognostics market report are Stellantis N.V., General Motors Company, Bayerische Motoren Werke AG, Tesla Inc., International Business Machines Corporation, DENSO Corporation, Continental AG, Magna International Inc., Bridgestone Corporation, Cummins Inc., ZF Friedrichshafen AG, Lear Corporation, Infineon Technologies AG, NXP Semiconductor Inc., Harman International Industries, Delphi Technologies, Garrett Motion Inc., Ansys Inc., Digital Management LLC, HCL Technologies Limited, Robert Bosch GmbH, Aeris Communications, Covisint Corp., Cognosos Inc., Preteckt Inc., Acerta Analytics Solutions Inc., Ansik Inc., Hitachi Astemo Ltd
How will evolving trends contribute to the growth of the automotive prognostics market?
Major companies operating in the automotive prognostic market are adopting strategic partnerships approach to develop innovative automotive prognostic. Strategic partnerships benefit automotive prognostic companies by pooling resources and expertise, boosting research and development efforts, broadening market access, and speeding up commercialization. This collaborative approach fosters innovation and accelerates growth in the automotive prognostics sector. For instance, in October 2023, Infineon Technologies AG, a Germany-based semiconductor manufacturing company, Partnered with Eatron Technologies, a UK-based software company. With this partnership, Infineon and Eatron aim to enhance automotive battery management systems (BMS) by integrating machine learning into Infineon’s AURIX TC4x microcontroller. The collaboration focuses on improving battery performance, accuracy, and prognostics, including state of health (SoH) and remaining useful life (RUL) prediction.
What are the key regional dynamics of the automotive prognostics market, and which region leads in market share?
North America was the largest region in the automotive prognostics market in 2024. The regions covered in the automotive prognostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Automotive Prognostics Market Report 2025 Offer?
The automotive prognostics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Automotive prognostics, often known as vehicle prognostics, is a branch of engineering that focuses on projecting the functioning and condition of a vehicle’s systems and parts in the future. It entails monitoring and evaluating numerous metrics and data to determine the degree of departure or deterioration from predicted normal operating conditions.
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