Europe Predictive Vehicle Technology Market

Market Introduction

At present, the Europe automotive industry is experiencing significant incorporation of various advanced technologies in cars to improve the safety and efficiency of the occupants. The automakers are leveraging artificial intelligence (AI) and machine learning (ML) to realize the patterns and trends of the driver 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 notable convenience to the driver and passengers. Therefore, the automakers are concentrating on adopting connected gadgets and IoT in vehicles that support voice commands. The integration of IoT in connected cars is the next big digital development that persists 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. The quick development of connected cars offers opportunities to both the automotive industry and tech companies. The factor described above of connected cars is projected to contribute towards the use of predictive technology by introducing a predictive collision avoidance system, predictive maintenance system, and more. Thus, the mass integration of AI and MI 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 predictive vehicle technology market.

Europe Predictive Vehicle Technology Strategic Insights

Strategic insights for the Europe Predictive Vehicle Technology provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Predictive Vehicle Technology Report Scope

Europe Predictive Vehicle Technology Regional Insights

The geographic scope of the Europe Predictive Vehicle Technology refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The predictive vehicle technology market in Europe is expected to grow from US$ 4.92 Mn in 2019 to US$ 11.78 Mn by 2027; it is estimated to grow at a CAGR of 14.0% from 2020 to 2027. The prevalent opportunity in pursuing in a connected car arena is data management. The connected cars are streaming massive amounts of data into the cloud, and thus to utilize extensive data, the need for predictive analysis and data analysis is growing. Predictive maintenance, predictive collision avoidance, automotive marketing, automotive marketing, and data management of connected cars are some of the growing concepts responsible for the growth of the market. This is bolstering the growth of the predictive vehicle technology market in Europe.

Factory shutdowns as due to COVID-19 crisis have caused production loss accounting for 1,465,415 motor vehicles to date, as per statement published by the Europe Automobile Manufacturers’ Association (ACEA). Also, Marelli has extended a temporary shutdown of their manufacturing activities in majority of the Europe plants. Bridgestone EMIA is also working upon either temporarily closing or lowering production in their Europe manufacturing network.

Key Market Segments

In terms of hardware, the ADS accounted for the largest share of the Europe predictive vehicle technology market in 2019. In terms of vehicle type, the passenger segment held a larger market share of the predictive vehicle technology market in 2019. Further, the safety and 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 Europe predictive vehicle technology market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report AISIN SEIKI Co.Ltd., Aptiv PLC, Continental AG, HELLA GmbH and Co. KGaA, NXP SEMICONDUCTORS N.V., Robert Bosch GmbH, Traffilog LTD, Visteon Corporation and ZF Friedrichshafen AG among others.

Reasons to buy report

• To understand the Europe 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 Europe predictive vehicle technology market.
• Efficiently plan M&A and partnership deals in Europe 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 Europe predictive vehicle technology market
• Obtain market revenue forecast for market by various segments from 2020-2027 in Europe.

EUROPE PREDICTIVE VEHICLE TECHNOLOGY MARKET SEGMENTATION

By Hardware

• ADS
• Telematics
• OBD

By Vehicle Type

• Commercial Vehicle
• Passenger Vehicle

By

Application

• Proactive Alerts
• Safety and Security

By Country

• Germany
• France
• Italy
• United Kingdom
• Russia
• Rest of Europe

Company Profiles

• AISIN SEIKI Co.Ltd.
• Aptiv PLC
• Continental AG
• HELLA GmbH and Co. KGaA
• NXP SEMICONDUCTORS N.V.
• Robert Bosch GmbH
• Traffilog LTD
• Valeo
• Visteon Corporation
• ZF Friedrichshafen AG