22 March 2021
Visiongain has published a new report on Predictive Vehicle Technology Market Report to 2031: Forecasts by Application (Pro-Active Alerts and Safety & Security), Hardware (ADAS, Telematics and OBD), Deployment (On-Premise & Cloud) and Vehicle Type (Passenger Vehicle and Commercial Vehicles) PLUS Profiles of Leading Predictive Vehicle Technology Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Predictive Vehicle Technology market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2031. The Predictive Vehicle Technology is the set of vehicle technology that shows real time vehicle data as well as historical data that forecast the activities. It also shows faults that can manipulate vehicle if not corrected in real time.
COVID-19 Impact on Predictive Vehicle Technology Market
As Covid-19 has caused a lot of damage in various industries, it has brought automotive industry to a stop the progress of vehicle production and supply disruptions. Analysis shows that due to pandemic outbreak the industry went to a halt and reduced its every function due to which it witnessed low sales of vehicles and its applications. However, the governments are proposing new laws and regulations to help businesses to get on track again.
Using Artificial intelligence and machine learning to develop the application to help vehicle owner to operate the vehicle for enhance the safety factor. Artificial intelligence and machine learning are becoming major part for automobile industry, gaining more popularity. Automakers are focusing on adoption of IoT or connected gadgets in their vehicle which can support the voice command.
Increasing demand for safety and advanced features, Sensors are embedded within the vehicle which alerts the drivers in case of vehicle needs servicing, Mileage clocked or vehicle in bad condition. The systems also informs driver about vehicle malfunctioning. Seeing such demand in the market automakers is focusing towards the artificial intelligence, machine learning, IoT and other technologies to fulfil the demand.
The global Predictive Vehicle Technology market is dominated by big players such as Robert Bosch, Continental AG, Valeo, Garrett Motion, Aisin Seiki, Aptiv, NXP, Embitel, Autoliv and Harman. These companies have secured their position in the market to offer wide range of advanced assistance systems. The key strategies adopted by these companies is to sustain their market position are new technology, new product development, Contract agreement and Collaborations.
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