Report : North America Predictive Vehicle Technology Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Hardware (ADAS, Telematics, and OBD), Vehicle Type (Commercial Vehicle and Passenger Car), and Application (Proactive Alerts and Safety and Security) and Country

Commercial Vehicle Segment to Dominate North America Predictive Vehicle Technology Market During 2019–2027

According to a new market research study on “North America Predictive Vehicle Technology Market Forecast to 2027 – COVID-19 Impact and Analysis and Forecast by Hardware, Vehicle Type, Application, and country” is expected to reach US$ 8.52 Mn by 2027 from US$ 3.90 Mn in 2019. The market is estimated to grow at a CAGR of 12.68% from 2020 to 2027. The report provides trends prevailing in the North America predictive vehicle technology market along with the drivers and restraints pertaining to the market growth. Increasing use of predictive powertrain control in heavy vehicles and Blending of AI in automotive industry are the major factor driving the growth of the North America predictive vehicle technology market. However, the problems regarding predictive technology hinder the growth of North America predictive vehicle technology market.

The market for predictive vehicle technology market is segmented into hardware, vehicle type, application and country. Based on hardware, the market is segmented into ADAS, telematics, OBD. In 2019, the ADAS segment held the largest share North America predictive vehicle technology market. Based on vehicle type the predictive vehicle technology market is divided into commercial vehicle and passenger car. Commercial vehicle is expected to be the fastest growing segment over the forecast period. On the basis of application the market is segmented into proactive alerts and safety and security. The proactive alerts segment accounts for largest market share in the 2019. Also the COVID-19 has been very devastating in the North America region. US has the higher number of confirmed cases of coronavirus, as, compared to Canada and Mexico. The fast increase in the number of confirmed cases and rising reported deaths are likely to impact the businesses operating in this region. In the North America region, the U.S has the higher number of confirmed cases of coronavirus, as, compared to Canada and Mexico. The fast increase in the number of confirmed cases and rising reported deaths are likely to impact the businesses operating in this region. Due to the COVID-19 outbreak in the region, the supply chain and sales are getting affected. In addition to this, the overall manufacturing processes, research, and development activities will also get affected in the short term. In the US Midwest and California, the auto plants earlier continued to work, however, later the tide shifted. Also, FCA plant in Canada has witnessed work stoppage. Honda, Hyundai, and Toyota have taken steps for either ceasing the production temporarily or short suspensions.

AISIN SEIKI Co.Ltd., Aptiv PLC, Continental AG, HELLA GmbH and Co. KGaA, NXP SEMICONDUCTORS N.V., Robert Bosch GmbH, Valeo, Visteon Corporation, and ZF Friedrichshafen AG are among the leading companies in the North America predictive vehicle technology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Continental built a new plant for Advanced Driver Assistance Systems in the USA, with a total investment to about US$110 Mn.

                              North America predictive vehicle technology market By Country 2019 and 2027 (%)

                                   North America predictive vehicle technology market By Country 2019 and 2027 (%)

The report segments the North America predictive vehicle technology market as follows:

Predictive Vehicle Technology Market – By Hardware

  • ADAS
  • Telematics
  • OBD

Predictive Vehicle Technology Market – By Vehicle Type

  • Commercial Vehicle
  • Passenger Car

Predictive Vehicle Technology Market – By Application

  • Proactive Alerts
  • Safety and Security

Predictive Vehicle Technology Market – By Country

  • US
  • Canada
  • Mexico
Contact Us
Contact Person: Sameer Joshi 
Phone: +1-646-491-9876

 

Download Free PDF Brochure