Automotive Predictive Technology Market Size By Application (Predictive Maintenance, Vehicle Health Monitoring, Safety & Security, Driving Pattern Analysis), By Deployment, By Hardware (ADAS Component, OBD, Telematics), Vehicle Type & Forecast 2023 – 2032

Automotive Predictive Technology Market Size

Automotive Predictive Technology Market size surpassed USD 44 billion in 2022 and is anticipated to grow at 8% CAGR from 2023 to 2032. The industry is witnessing development in technologies, such as Artificial Intelligence (AI) and Machine Learning (ML), which have been instrumental in improving car safety. Intelligent features including ADAS and predictive maintenance improve car performance, lower maintenance costs, and reduce vehicle downtime.

The automotive predictive technology sector refers to a business segment focused on the development, deployment, and implementation of advanced analytics & predictive modeling in the auto industry. It involves the use of technologies, such as Artificial Intelligence (AI), Machine Learning (ML), big data analytics, and IoT (Internet of Things), to collect & analyze data from vehicles and predict & improve many aspects of the car ecosystem.

The increasing collection and use of traffic data raises privacy & security concerns. Businesses need to address issues related to data ownership, consent, data breaches, and cybersecurity threats. Stricter regulations and consumer concerns regarding personal data may affect the widespread use of predictive technology in the automotive industry. Such factors can hinder automotive predictive technology market growth by 2032.

Automotive Predictive Technology Market Trends

The rising adoption of connected vehicles is a key factor propelling the demand & use of predictive technology in the automotive industry. Connected vehicles are equipped with various sensors, telematics systems, and communication capabilities that allow them to collect & transmit information in real time. This information includes vehicle operation, driving behavior, location, and weather details. Connected cars are constantly collecting information about the health & performance of various vehicle components. Predictive technology analyzes this data to identify patterns & anomalies, leading to the prediction of failures or maintenance requirements. Predictive tools prevent accidents, reduce downtime, and increase vehicle reliability & life by scheduling maintenance & repairs
 

Automotive Predictive Technology Market Analysis

The ADAS component segment in automotive predictive technology market is expected to witness 8% and cross 35 billion in 2032. Predictive technologies enable sensor fusion by combining information from multiple sensors to improve understanding, accuracy & reliability. Predictive models can help improve ADAS capabilities by analyzing sensor data in real time, improving object detection, classification, and tracking. Prediction techniques can be applied to ADAS devices to monitor their performance and detect faults or failures. By analyzing sensor data, behavior, and historical patterns, the monitoring system can identify anomalies and provide early warnings or warnings regarding malfunctions. This provides effective monitoring and reduces the risk of ADAS system failure.

The safety & security segment accounted for 30% of the market share in 2022 and is likely to surpass USD 25 billion in 2032. The segment deals with the analysis of various types of data, such as vehicle sensors as well as environmental & historical data, to predict & prevent accidents, reduce risks, and increase vehicle safety. Foresight technology analyzes data from sensors, cameras, and other sources to check for patterns & potential hazards on the road. Foresight models can identify potential hazards in the event of an accident by evaluating factors such as vehicle speed, distance to other vehicles, lane departure, and driver behavior. Warnings and alerts can be issued to drivers in real time, enabling them to take preventive measures and avoid accidents.

The on-premises automotive predictive technology market is expected to grow significantly during 2023 to 2032. One of the primary drivers propelling the adoption of on-premise solutions is the ability to manage complete data security & privacy. By managing technology locally, organizations can store sensitive traffic data on their systems, reducing concerns about data breaches as well as privacy compliance. In-house solutions often provide more flexibility for customization and integration with the existing systems & processes. Automotive companies can adapt the technology to meet their specific needs and integrate it with their internal processes, data, and operations. This level of customization and integration can improve the overall effectiveness & efficiency of predictive technology.

The Asia Pacific automotive predictive technology industry crossed 10 billion revenues in 2022 and is poised to attain 10% growth till. The region is a hub for technological progress & innovation. It is home to some of the world's largest auto industries including China, Japan, India, and South Korea. The automotive industry growth is attributed to increasing urban developments and infrastructure enhancements in the region, which has created a favorable environment for the use of forecasting technology.

With growing technological advancements in APAC automotive industry, the demand for technological solutions will continue to increase. Governments in region are actively promoting driving safety and environmental sustainability through regulations & initiatives. For example, China imposed regulations requiring the inclusion of advanced safety features in vehicles, which has led to the use of predictive technology to improve safety and mitigate adverse situations. Similar initiatives in other countries, such as Japan and South Korea, are also driving the overall automotive predictive technology market expansion.

Automotive Predictive Technology Market Share

Major companies operating in the automotive predictive technology business landscape include :

• Aisin Seiki
• Aptiv PLC
• Continental AG
• Garrett Motion Inc.
• HARMAN International
• Honeywell International Inc
• Infineon Technologies A
• Magna International
• NXP Semiconductor
• Robert Bosch GmbH
• Siemens AG
• Valeo SA
• Verizon
• Visteon Corporation
• ZF Friedrichshafen AG
   

Automotive Predictive Technology Industry News:

• In June 2021, Garrett Motion Inc. and Hyundai Motor Company (HMC) together launched a new software solution, which is focused on Model-Based Predictive Control (MPC) technology. The MPC technology can predict and optimize a system’s operation in real-world conditions, thus enabling vehicles to improve their performance, efficiency & reliability.
   

This automotive predictive technology market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032 for the following segments:

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Market, By Application

• Predictive Maintenance
• Vehicle Health Monitoring
• Safety & Security
• Driving Pattern Analysis
• Others

Market, By Deployment

• On-premises
• Cloud

Market, By Hardware

• ADAS Component
• OBD
• Telematics

Market, By Vehicle Type

• Commercial vehicle
• Passenger Vehicle

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Netherlands
  • Spain
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Singapore
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE
  • South Africa