Market Size –
The predictive vehicle technology market size has grown rapidly in recent years. It will grow from $34.77 billion in 2023 to $41.23 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to focus on driver safety, demand for fuel efficiency and emission reduction, autonomous vehicle development, government regulations and safety standards, .
The predictive vehicle technology market size is expected to see rapid growth in the next few years. It will grow to $79.99 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to smart infrastructure development, environmental sustainability goals, data monetization opportunities, government investments in smart cities, consumer demand for advanced features.. Major trends in the forecast period include connected car ecosystem expansion, predictive maintenance solutions, usage-based insurance (ubi) and telematics, energy management and efficiency optimization, road condition and traffic prediction, personalized in-car experiences..
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Scope Of Predictive Vehicle Technology Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rising demand for technologically advanced vehicles propels the growth of the predictive vehicle technology market. Technologically advanced vehicles are highly equipped with the latest technology such as advanced driver assistant systems (ADAS), predictive vehicle technology, electric vehicle (EV) technology, 360-degree cameras, and more. The growing population and the economy, and rapid urbanization globally coupled with a need to reduce carbon footprint, have led to an increased demand for technologically advanced vehicles such as electric vehicles that use the latest EV technology. As the demand for technologically advanced vehicles grows, it will drive the need for the latest technologies including predictive vehicle technology. For instance, in February 2022, according to the International Energy Agency (IEA), the worldwide electric car market is expanding at a rapid pace with a global sale of 6.6 million EVs in 2021, more than doubling from 2019 which was 2.2 million EVs. Market momentum has continued, with EV sales more than doubling year on year to 6.6 million in 2021, accounting for over 9% of the worldwide market. There are presently around 16 million electric vehicles on the roads globally. Therefore, the rising demand for technologically advanced vehicles drives the predictive vehicle technology market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The predictive vehicle technology market covered in this report is segmented –
1) By Component: Hardware, ADAS, OBD, Telematics
2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
3) By Deployment: On-Premise, Cloud
4) By Application: Proactive Alerts, Safety And Security, Maintenance Analysis, Predictive Smart Parking
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Regional Insights –
Asia-Pacific was the largest region in the predictive vehicle technology market in 2023. The regions covered in the predictive vehicle technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the predictive vehicle technology market report are Robert Bosch GmbH, Continental AG, Valeo, Garrett Motion Inc., Aisin Corporation,Tesla Inc.,Waymo LLC.,Mobileye Inc.,NVIDIA Corporation,Aptiv PLC.,Otonomo Technologies Ltd.,Kia Motors Corporation, BorgWarner Inc.,ZF Friedrichshafen AG,Velodyne Lidar Inc.,Aeva Technologies Inc.,Argo AI LLC,Nuro Inc.,Aurora Innovation Inc., Amazon Com Inc.,General Motors Company,Ford Motor Company,Mercedes-Benz Group AG,Audi Automobilwerke GmbH Zwickau,The Volvo Group,Hyundai Motor Co,Bayerische Motoren Werke GmbH,Toyota Motor Corporation,Honda Motor Co Ltd.,Qualcomm Inc.
Table of Contents
1. Executive Summary
2. Predictive Vehicle Technology Market Report Structure
3. Predictive Vehicle Technology Market Trends And Strategies
4. Predictive Vehicle Technology Market – Macro Economic Scenario
5. Predictive Vehicle Technology Market Size And Growth
…..
27. Predictive Vehicle Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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