Middle East and Africa Predictive Vehicle Technology Market

Market Introduction

At present, the automotive industry is experiencing significant incorporation of various advanced technologies in cars to improve the occupants' safety and efficiency. The automakers are leveraging artificial intelligence (AI) and machine learning (ML) to realize the driver's patterns and trends 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 amazing convenience to the driver and passengers. Therefore, the automakers are concentrating on adopting connected gadgets and IoT (internet of things) in vehicles that support voice commands. The integration of IoT in connected cars is the next big digital development that persists in the automotive industry. This fact will result in bringing another revolution via the introduction of autonomous vehicles. The self-driving cars/autonomous vehicles include a sensor management system that makes IoT vehicle-to-vehicle communication possible and a reality. The quick development of connected cars offers opportunities to both the automotive industry and tech companies. The factor described above of connected cars is projected to contribute towards the use of predictive technology by introducing a predictive collision avoidance system, predictive maintenance system, and more. Thus, the adoption of predictive powertrain control in heavy commercial vehicles is expected to create a significant demand for predictive vehicle technology in the coming years, which is further anticipated to drive the MEA predictive vehicle technology market.

Along with that in the MEA region, Saudi Arabia has the highest number of COVID-19 confirmed cases, and it is followed by South Africa and UAE, among other countries. The region comprises many growing economies such as UAE, which are prospective markets for predictive vehicle technology manufacturers. The disruptions due to coronavirus outbreak in this region may impact the predictive vehicle technology market's growth in about 6 to 9 months.

Market Overview and Dynamics

The predictive vehicle technology market in MEA is expected to grow from US$ 0.91 million in 2019 to US$ 1.73 million by 2027; it is estimated to grow at a CAGR of 10.7% from 2020 to 2027. The auto manufacturers and tech companies are involved in developing sophisticated technologies that enable automobiles to drive themselves. In 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. In addition to the rising emergence of self-driving vehicles, changing government regulations and collaborations are significant trends that would support transforming the automotive industry. This is bolstering the growth of the MEA predictive vehicle technology market.

Key Market Segments

In terms of vehicle type, the passenger car segment accounted for the largest share of the MEA predictive vehicle technology market in 2019. In terms of hardware, the ADAS segment held a larger market share of the MEA predictive vehicle technology market in 2019. Further, the safety & 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 MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Aptiv PLC, Continental AG, HELLA GmbH and Co. KGaA, NXP SEMICONDUCTORS N.V., Robert Bosch GmbH, Traffilog LTD, Valeo, Visteon Corporation, and ZF Friedrichshafen AG among others.

Reasons to buy report

• To understand the MEA 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 MEA predictive vehicle technology market
• Efficiently plan M&A and partnership deals in MEA 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 MEA predictive vehicle technology market
• Obtain market revenue forecast for market by various segments from 2020-2027 in MEA region.

MEA Predictive Vehicle Technology Market Segmentation

By Hardware

• ADAS
• Telematics
• OBD

By Vehicle Type

• Commercial Vehicle
• Passenger Car

By Application

• Proactive Alerts
• Safety & Security

By Country

• South Africa
• Rest of MEA

Company Profiles

• Aptiv PLC
• Continental AG
• HELLA GmbH and Co. KGaA
• NXP SEMICONDUCTORS N.V.
• Robert Bosch GmbH
• Traffilog LTD
• Valeo
• Visteon Corporation

Middle East and Africa Predictive Vehicle Technology Market Strategic Insights

Middle East and Africa Predictive Vehicle Technology Market Segmentation Analysis

Middle East and Africa Predictive Vehicle Technology Market Report Highlights

Middle East and Africa Predictive Vehicle Technology Report Scope

Middle East and Africa Predictive Vehicle Technology Market Country and Regional Insights