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Predictive Vehicle Technology Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Hardware ; Vehicle Type ; Application

Predictive Vehicle Technology Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Hardware ; Vehicle Type ; Application

  • April 2020
  • 177 pages
  • ID: 5891673
  • Format: PDF
  • The Insight Partners

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The global predictive vehicle technology market accounted for US$ 21.03 billion in 2019 and is expected to grow at a CAGR of 13.5% during 2020-2027 to reach US$ 48.8 billion by 2027. Increasing use of predictive technologies in heavy commercial vehicles and use of AI in automotive across the world are the factors stimulating the demand for predictive technology in the automotive industry. Also, the emergence of self-driving vehicles is among the trends that would provide ample growth opportunities to both automotive and tech companies. Moreover, the need to manage massive data generated from vehicles is further expected to fuel the predictive vehicle technology market growth during the forecast period.

Globally, the emergence of autonomous/self-driving vehicles and connected cars would positively impact the use of predictive automobile technology for the development of a predictive collision avoidance system and other systems.As Europe and North America are known for automotive production and technological developments, respectively, the global automotive industry is anticipated to witness transformation.

Deployment of advanced technologies, such as AI, ML, and predictive technologies, into cars and other commercial vehicles is rising across the world.In an era of continuous technological developments, cars are getting modified through a digital platform.

In support of the mentioned statement, the testing of autonomous vehicles is taking place in the UK, the US, the Netherlands, Singapore, Japan, and the UAE.APAC held the largest share of the predictive vehicle technology market in 2019 and is expected to continue its dominance during 2020-2027.

Europe and North America held the third and second position, respectively, in the global predictive vehicle technology market in 2019.

The overall predictive vehicle technology market size has been derived using both primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the predictive vehicle technology market.

It also provides the overview and forecast for the global predictive vehicle technology market based on all segmentations provided concerning five primary regions-North America, Europe, Asia Pacific, Middle East & Africa, and South America.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the predictive vehicle technology market.

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