Analysis by Hardware (ADAS, Telematics, and OBD); Vehicle Type (Commercial Vehicle and Passenger Car); and Application (Proactive Alerts and Safety and Security) and Country
At present, the automotive industry is experiencing significant incorporation of various advanced technologies in cars to improve the safety and efficiency of the occupants. The automakers are leveraging artificial intelligence (AI) and machine learning (ML) to realize the patterns and trends of the driver and improve the safety of the vehicle. Both technologies are ready to become a vital part of upcoming vehicles and the automotive industry. In the race of connected cars and self-driving vehicles, predictive vehicle technologies are gaining acceptance among all auto types, which offers notable convenience to the driver and passengers. Therefore, the automakers are concentrating on adopting connected gadgets and IoT in vehicles that support voice commands. Thus, the growth in the integration of AI in automotive industry is expected to create a significant demand for predictive vehicle technology in the coming years, which is further anticipated to drive the predictive vehicle technology market. The COVID-19 is anticipated to cause huge disruptions in the Asia Pacific region. Asia pacific is a crucial region in terms of manufacturing and industrial growth and any disruptions may negatively impact the growth of various industries dependent on the region for supply and revenues. In terms of automotive production, China is a biggest car market, and Wuhan, which is a center of an outbreak, is called as a “motor city”.
Market Overview and Dynamics
The predictive vehicle technology market in APAC is expected to grow from US$ 10.64 Mn in 2019 to US$ 25.33 Mn by 2027; it is estimated to grow at a CAGR of 13.91% from 2020 to 2027. The auto manufacturers and tech companies are involved in the development of sophisticated technologies that enable automobiles to drive themselves. In the race of testing self-driving vehicles, Google is leading the race, followed by Audi, Toyota, and Mercedes-Benz. Moreover, the Institute of Electrical and Electronics Engineers (IEEE) foresees that the self-driving vehicles will approximately account for up to 75% of vehicles on the road by 2040. The self-driving car industry is anticipated to benefit the car-sharing services such as Zipcar, taxi services, public transportation, and rental car companies. This is bolstering the growth of the predictive vehicle technology market.
Key Market Segments
In terms of vehicle type, the passenger car segment accounted for the largest share of the APAC predictive vehicle technology market in 2019. In terms of hardware, the ADAS segment held a larger market share of the predictive vehicle technology market in 2019. Further, the safety and security segment held a larger share of the market based on application in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the predictive vehicle technology market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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 among others.
Reasons to buy report
To understand the APAC predictive vehicle technology market landscape and identify market segments that are most likely to guarantee a strong return
Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC predictive vehicle technology market
Efficiently plan M&A and partnership deals in APAC predictive vehicle technology market by identifying market segments with the most promising probable sales
Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC predictive vehicle technology market
Obtain market revenue forecast for market by various segments from 2020-2027 in APAC region.
The List of Companies - Asia Pacific Predictive Vehicle Technology Market
AISIN SEIKI Co.Ltd.
Aptiv PLC
Continental AG
HELLA GmbH and Co. KGaA
NXP SEMICONDUCTORS N.V.
Robert Bosch GmbH
Valeo
Visteon Corporation
ZF Friedrichshafen AG
Frequently Asked Questions
How big is the Asia Pacific Predictive Vehicle Technology Market?
The Asia Pacific Predictive Vehicle Technology Market is valued at US$ 10.64 Million in 2019, it is projected to reach US$ 25.33 Million by 2027.
What is the CAGR for Asia Pacific Predictive Vehicle Technology Market by (2020 - 2027)?
As per our report Asia Pacific Predictive Vehicle Technology Market, the market size is valued at US$ 10.64 Million in 2019, projecting it to reach US$ 25.33 Million by 2027. This translates to a CAGR of approximately 13.91% during the forecast period.
What segments are covered in this report?
The Asia Pacific Predictive Vehicle Technology Market report typically cover these key segments-
Hardware (ADAS, Telematics, OBD)
Vehicle Type (Commercial Vehicle, Passenger Car)
Application (Proactive Alerts, Safety and Security)
What is the historic period, base year, and forecast period taken for Asia Pacific Predictive Vehicle Technology Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Predictive Vehicle Technology Market report:
Historic Period : 2017-2018
Base Year : 2019
Forecast Period : 2020-2027
Who are the major players in Asia Pacific Predictive Vehicle Technology Market?
The Asia Pacific Predictive Vehicle Technology Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
AISIN SEIKI Co.Ltd.
Aptiv PLC
Continental AG
HELLA GmbH and Co. KGaA
NXP SEMICONDUCTORS N.V.
Robert Bosch GmbH
Valeo
Visteon Corporation
ZF Friedrichshafen AG
Who should buy this report?
The Asia Pacific Predictive Vehicle Technology Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Asia Pacific Predictive Vehicle Technology Market value chain can benefit from the information contained in a comprehensive market report.
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