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Automotive Predictive Technology Market Size

Report ID: GMI3997
Published Date: May 2023
Report Format: PDF

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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.

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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.

Automotive Predictive Technology Market Report Attributes
Report Attribute	Details
Base Year:	2022
Automotive Predictive Technology Market Size in 2022:	USD 44 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8%
2032 Value Projection:	USD 95 Billion
Historical Data for:	2018 to 2022
No. of Pages:	350
Tables, Charts & Figures:	331
Segments covered:	Application, Deployment, Hardware, Vehicle
Growth Drivers:	Demand for personalized & connected experiences Advancements in Artificial Intelligence (AI) and Machine Learning (ML) Rising adoption of connected cars Increasing availability of big data
Pitfalls & Challenges:	Data privacy & security concerns High implementation costs

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automotive predictive technology crossed USD 44 billion in 2022 and is poised to depict 8% CAGR during 2023-2032 driven by increasing adoption of Artificial Intelligence (AI) and Machine Learning (ML)

Automotive predictive technology industry share from the safety & security application segment may surpass USD 25 billion by 2032 due to the rising analysis of vehicle sensors as well as environmental & historical data to predict & prevent accidents, reduce risks, and increase vehicle safety

Asia Pacific automotive predictive technology industry size is poised to attain 10% gains between 2023 and 2032 owing to the presence of large auto industries in China, Japan, India, and South Korea

On-premise automotive predictive technology industry share is estimated to witness significant growth till 2032 due to the surging need to manage complete data security & privacy.

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