27 May 2020
Visiongain’s new Predictive Vehicle Technology Market Report 2020-2030 reveals the market is valued at US$22.31 billion in 2020. the Predictive Vehicle Technology market will register strong growth. Visiongain forecasts that between 2020 to 2030, the automotive industry will change drastically owing to the introduction of new technologies such as vehicle telematics, artificial intelligence, connected cars and autonomous vehicles. Additionally, companies are also investing in the research and development to design and develop new sensors and software that can gather real time information and send it back to the manufacturers for defective parts.
The Predictive Vehicle Technology market is segmented on the basis of vehicle type, deployment and application and these segments are further divided. Vehicle type is categorized into passenger cars and Commercial cars. Based on deployment, the market is further divided into on-premise and cloud. Based on application the market is classified into maintenance analysis, driving pattern analysis, predictive smart parking and others This report then profiles the ten most significant companies operating within the global Predictive Vehicle Technology market in order to give a deeper understanding of its current atmosphere.
By deployment, on-premise segment dominated the overall market as the companies are still storing the data locally due to the concerning factors such as data privacy and security. However, with the technological changes and growing focus on securing cloud data, the demand for cloud deployment is growing in automotive industry. Moreover, cloud offers multiple advantages such as subscription services, cost reduction, flexibility and accessibility.
By region, Europe dominated the overall market as it leads the automotive industry compared to other regions. Germany, France and United Kingdom are the major countries which are leading the predictive vehicle technology market and together they accounted for 51.0% of overall European region. Asia Pacific is the second largest market for predictive vehicle technology with China dominating the overall region. China is leading its way in the implementation of connected vehicles, electric vehicles and autonomous vehicles due to which the demand for predictive vehicle technology is expected to increase further in the coming years.
The predictive vehicle technology industry is fragmented with multiple players coming from automotive OEM providers, technology providers and software providers. Some of the major players analyzed in the report are Robert Bosch, SAP SE, IBM Corporation, HARMAN International, Microsoft Corporation, Cloud made, Intelligent Mechatronic Systems Inc., Teletrac Navman US Ltd, Inseego Corporation, and Garrett Motion.
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