Predictive Vehicle Technology Market

Predictive Vehicle Technology Market Size (2024 to 2029)

The Global Predictive Vehicle Technology Market was worth US$ 38.38 billion in 2024 and is anticipated to reach a valuation of US$ 80.53 billion by 2029 and is predicted to register a CAGR of 15.98% during 2024 to 2029.

Predictive vehicle technology can be used as a sensor in a car that alerts the owner whenever the vehicle requires servicing. Counting on the car's condition and mileage, the technology is going to be ready to evaluate vehicle performance, find out meetings/appointments in actual time, and inform users of any safety risks linked with a malfunctioning car thanks to company recalls. However, most carmakers are influenced that predictive technology is economically and logistically reasonable. Also, this technology helps individual companies and customers avoid vehicle downtime and may offer other insights regarding automotive usage patterns and part wear.

MARKET DRIVERS

Increasing machine learning within the automotive industry and high usage of real-time data for vehicular applications are a number of factors fuelling the market growth. Moreover, issues related to data security and its integration with existing software platforms are among the restraining factors for the market. However, the growing number of vehicles combined with increasing demand for vehicle security & fuel optimization is providing opportunities for business growth.

MARKET RESTRAINTS

Issues related to data security and the integration of real-time data are restraining the expansion of the predictive vehicle technology market during the foreseen period.

REPORT COVERAGE

SEGMENTAL ANALYSIS 

Global Predictive Vehicle Technology Market Analysis By Vehicle Type

The commercial vehicle segment is prognosticated to dominate the global predictive vehicle technology market during the foreseen period. The utilization of telematics in commercial vehicles is rising because it contributes to the safety of automobiles. It offers satellite navigation, GPS tracking, and infotainment options. The choice to watch the situation of a vehicle in real-time is beneficial for informing drivers about the traffic, accidents, weather concerns, and congestion. Government regulations in several emerging countries are supportive of and sometimes mandate the inclusion of commercial telematics in new vehicles, helping worldwide businesses. These factors have promoted the rapid growth of the commercial vehicle sector. 

However, the increase in income of consumers has pushed the demand for passenger cars, which, in turn, has driven the expansion of the global predictive vehicle technology market. The passenger car segment is anticipated to carry the most significant share within the predictive vehicle technology market. The marketplace for predictive vehicle technology in passenger cars is predicted to grow at a high rate, particularly in developing nations of Asia Pacific. Moreover, the increasing demand for electric vehicles by consumers and a number of other amendments in transport policies by various governments to control harmful carbon emissions are suspected of driving the expansion of the passenger vehicle segment.

Global Predictive Vehicle Technology Market Analysis By Deployment

The ADAS component is likely to be the most important market during the foreseen period. ADAS components comprise radar, LiDAR, ultrasonic sensors, and cameras. These sensors are wont to sense the info and send it for further processing. These sensors are often utilized in isolation or with a mixture in various ADAS applications. Leading automakers across the planet are integrating advanced features in passenger and commercial vehicles to reinforce vehicle safety performance

Global Predictive Vehicle Technology Market Analysis By Application

Safety and security, within the coming years, are probably going to be integrated as an ADAS function by automakers globally. These functions are mainly intended to help the driving force by offering predictive signals. Vehicle occupants in developed countries are demanding such features in their vehicles. On the opposite hand, OEMs are offering these features in their cars in developing regions. The expansion of the safety & security segment is supported by government mandates as a traffic jam may be a huge issue in every area, thereby driving the development of the section.

REGIONAL ANALYSIS 

Europe is home to leading vehicle makers and has been at the forefront of early taking on of electrification in vehicles. Hence, the predictive technology features in Europe are expected to realize traction during the outlook period. The Asia Pacific region is supposed to be the most significant market. The area comprises a number of the fastest-developing economies on the planet like China and India. Also, the Asia Pacific region is the largest marketplace for automobiles because the increasing disposable income of consumers has triggered the demand for automobiles within the area.

Moreover, the increasing sales of commercial vehicles and passenger cars within the region are driving the expansion of the business. The countries within the area are supporting the inclusion of commercial telematics in new cars, helping the worldwide market. Many European and North American companies are entering untapped markets to meet the demand for advanced telematics solutions within the region. Thus, the Asia Pacific predictive vehicle technology market is estimated to point out incremental growth during the outlook period.

KEY PLAYERS IN THE GLOBAL PREDICTIVE VEHICLE TECHNOLOGY MARKET

The global predictive vehicle techonology market is concentrated with well-established players. Key players in the market include General Electric Company, Siemens AG, Microsoft Corporation, International Business Machines (IBM) Corporation, Thales S.A., Emerson Electric Co., Bosch Software Innovations GmbH, Continental AG, Magna International Inc. and Harman International, etc.

RECENT HAPPENINGS IN THE MARKET

• German technology industry Bosch has recently introduced a replacement interior monitoring system featuring cameras and AI which it hopes will make better driver and passenger safety.
• Autonomous cars are recently hitting the headlines and dominating tech talks. they're seen as a post-Uber disruption to public commuting and transportation of products. Surely they're no figment of imagination within the age of AI (AI), which is being used to enrich driverless cars.
• Wind River has come up with collaboration plans with Hyundai Autron to develop a software framework for safe, automated, and autonomous driving leveraging property from Wind River's automotive software portfolio and therefore the HYUNDAI AUTRON product offering.

DETAILED SEGMENTATION OF THE GLOBAL PREDICTIVE VEHICLE TECHNOLOGY MARKET INCLUDED IN THIS REPORT

This research report on the global predictive vehicle technology market has been segmented and sub-segmented based on vehicle type, deployment, application and region​​​​​​​

By Vehicle Type

• Passenger Cars
• Commercial Vehicles​​​​​​​

By Deployment

• On-Premise
• On-Demand

By Application

• Maintenance Analysis
• Driving Pattern Analysis
• Predictive Smart Parking
• Safety & Security
• Others

​​​​​​​By Region

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