Predictive Vehicle Technology Market - Introduction

Currently, the automobile industry is witnessing the integration of several advanced technologies in vehicles to improve their efficiency and the safety of occupants. Vehicle manufacturers are using artificial intelligence (AI) and machine leaning (ML) to understand the trends and operating pattern of the vehicle owner which enhances the safety factor of vehicle with the help of AI. Artificial intelligence and machine learning are becoming an integral part of the future vehicles and auto industry as predictive technologies are gaining more popularity among all vehicle types by providing the foremost convenience to the driver. Vehicle manufacturers are focusing on adoption of IoT or connected gadgets in their vehicles, which support voice commands and they can also alter the user interface.

Predictive vehicle technology can be utilized in vehicles as it has a sensor embedded within the vehicle that alerts the driver if the vehicle needs maintenance. The vehicle’s performance is evaluated by the predictive system or technology on the basis of the condition of the vehicle or mileage clocked. The system also provides information to the user regarding malfunctioning of vehicle systems.

Global Predictive Vehicle Technology Market – Competitive Landscape

Robert Bosch GmbH

Robert Bosch GmbH was founded in 1886, and is presently based in Gerlingen, Germany. The company operates through four major business segments: Consumer goods (including household appliances and power tools), mobility (hardware and software), industrial technology (including drive and control), and energy and building technology. The company offers diverse products including electric motor, brake shoes, lightings, and display systems, under the mobility segment. The company manufactures various types of sensors and systems that enhance safety of vehicles.

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Continental AG

Continental AG was founded in 1871, and currently has headquarters in Hanover, Germany. Continental AG is a leading supplier of components in the automobile industry. The company operates through two major groups: automotive group and rubber group, which is further divided into various business verticals such as powertrain, chassis & safety, interior, tires and services. The company has a global presence and operates through several locations spread across the Americas, Africa, Europe, and Middle East & Africa.

Magna International Inc.

Magna International Inc. was founded in 1957 and currently is based in Ontario, Canada. The company a major supplier of new technological and body components for the automobile industry. It has over 174,000 employees working across 338 manufacturing units and 89 product development plants spread in more than 28 countries worldwide. The company operates majorly in body exteriors & structures, power & vision, ADAS & automated driving, and seating systems.

HARMAN International

HARMAN International was founded in 1980, with headquarters in Stamford, Connecticut, U.S. The company designs, develops, and sells connected products and solutions for automakers and consumers across the globe. Its products include audio & visual products, connected car systems, connected services, and enterprise automation solutions. Harman also provides audio systems through various brands including AKG, Harman Kardon, Infinity, JBL, Lexicon, Mark Levinson, and Revel.

Global Predictive Vehicle Technology Market – Dynamics

Rising demand for technologically advanced vehicles

Rising demand for technologically advanced vehicles is a major factor driving the predictive vehicle technology market. Vehicles are equipped with several systems that can detect obstacles and vehicles on the road, or around the vehicles, and take preventive measure to maintain the speed and distance of the vehicle from other vehicles. Presently, vehicles are connected to each other and they share information as per the requirement of the vehicle, which helps save lag or delay and effort while traveling. Vehicles are becoming safer and more secure, which leads to higher safety of the driver and vehicles. This is a key factor that is estimated to drive the predictive vehicle technology market during the forecast period

Rising demand for connected vehicles

Demand of the connected vehicles is increasing at a steady pace, as the internet becomes an integral part of human life. People are looking for connected systems all across their surroundings, which includes vehicles. The internet is the means of communication between the vehicle and the owner and other surrounding vehicles.

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Global Predictive Vehicle Technology Market – Segmentation

The global predictive vehicle technology market can be segmented based on:

  • Vehicle Type
  • Deployment
  • Application

Global Predictive Vehicle Technology Market – By Vehicle Type

Based on vehicle type, the global predictive vehicle technology market can be classified into:

  • Passenger vehicle
  • Commercial vehicle

Global Predictive Vehicle Technology Market – By Deployment

Based on deployment, the global predictive vehicle technology market can be bifurcated into:

  • On-Premise
  • On-Demand

Global Predictive Vehicle Technology Market – By Application

Based on Application, the global predictive vehicle technology market can be split into:

  • Maintenance Analysis
  • Driving Pattern Analysis
  • Predictive Smart Parking
  • Others

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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