South America Predictive Vehicle Technology Market

Market Introduction

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 the internet of things (IoT) in vehicles that support voice commands. The integration of the internet of things (IoT) in connected cars is the next significant digital development that will keep on going 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. Thus, the application 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 SAM predictive vehicle technology market.

Along with that, in the SAM region, Brazil has the highest number of COVID-19 confirmed cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The governments of various countries in SAM are taking an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that SAM will face lower export revenues, both from the drop in commodity prices and a reduction in export volumes. Containment measures in several SAM countries are also expected to reduce economic activity in the manufacturing and service sectors for at least the next quarter. However, the long-term growth of the predictive vehicle technology market is projected to be positive.

Market Overview and Dynamics

The predictive vehicle technology market in SAM is expected to grow from US$ 0.66 million in 2019 to US$ 1.48 million by 2027; it is estimated to grow at a CAGR of 13.0% 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. In addition to the rising emergence of self-driving vehicles, changing government regulations and collaborations are some of the major trends which would support transforming the automotive industry. The factors as mentioned earlier for self-driving vehicles are forecasted to impact the entire automotive industry and so will give the tech companies for the development of more advanced car technologies. This is bolstering the growth of the SAM predictive vehicle technology market.

Key Market Segments

In terms of vehicle type, the passenger car segment accounted for the largest share of the SAM 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 & 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 SAM 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 SAM 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 SAM predictive vehicle technology market
• Efficiently plan M&A and partnership deals in SAM 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 SAM predictive vehicle technology market
• Obtain market revenue forecast for market by various segments from 2020-2027 in SAM region.

SAM 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

• Brazil
• Argentina
• Rest of SAM

South America Predictive Vehicle Technology Market Strategic Insights

South America Predictive Vehicle Technology Market Segmentation Analysis

South America Predictive Vehicle Technology Market Report Highlights

South America Predictive Vehicle Technology Report Scope

South America Predictive Vehicle Technology Market Country and Regional Insights