Dublin, Dec. 29, 2020 (GLOBE NEWSWIRE) -- The "North America Predictive Vehicle Technology Market Forecast to 2027 - COVID-19 Impact and Analysis - by Hardware (ADAS, Telematics, and OBD), Vehicle Type (Commercial Vehicle and Passenger Car), and Application (Proactive Alerts and Safety and Security) and Country" report has been added to ResearchAndMarkets.com's offering.
The predictive vehicle technology market in North America is expected to grow from US$ 3.90 million in 2019 to US$ 8.52 million by 2027; it is estimated to grow at a CAGR of 12.68% from 2020 to 2027.
The advanced technologies, such as AI, are gaining popularity across North America. AI has its applications in the automotive industry, such as self-driving cars. Blending of AI in automotive industry is bolstering the growth of the automotive industry. AI offers driver-assist and fully autonomous mode functionality to the users. Moreover, pertaining to the benefits of AI, including detection of driver's behavior, AI cloud platforms to ensure data is available on-time, and driving safety features for connected vehicles are responsible for boosting the adoption of predictive maintenance in the automotive industry which is further driving the demand for predictive vehicle technology. Increasing use of predictive powertrain control in heavy vehicles is among the other factors expected to positively influence the demand for predictive vehicle technology.
In terms of hardware, the ADAS segment dominated the North America predictive vehicle technology market in 2019. The demand for ADAS, which assists in monitoring, braking, warning, and steering activities, is projected to rise in the coming decade. Factors such as government regulations and consumer interest in safety applications are accountable for the rising need for ADAS in connected cars. Also, in order to ensure the safety of drivers and reduce road accidents, the need for ADAS is growing across the countries. The ADAS applications are still in their early phase and are getting adopted by major countries. For instance, the US is making it compulsory that all vehicles be equipped with forward-collision warning systems and autonomous emergency braking systems, which eventually proves out to be a major driver for the predictive vehicle technology market. Also, in North America, the effects of COVID-19 outbreak are devastating. The US has a higher number of confirmed cases of coronavirus, compared to Canada and Mexico. The fast increase in the number of confirmed cases and reported deaths are likely to impact the businesses operating in this region. Due to the COVID-19 outbreak in the region, the supply chain and sales are getting affected. In addition to this, the overall manufacturing processes, research, and development activities would also get affected in the short term.
Key players operating in the North America predictive vehicle technology market include AISIN SEIKI Co. Ltd., Aptiv PLC, Continental AG, HELLA GmbH and Co. KGaA, NXP SEMICONDUCTORS N.V., Robert Bosch GmbH, Valeo, Visteon Corporation, and ZF Friedrichshafen AG.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. North America Predictive Vehicle Technology Market Landscape
5. North America Predictive Vehicle Technology-Market Dynamics
5.1 Market Drivers
5.1.1 Increasing use of predictive powertrain control in heavy vehicles
5.1.2 Blending of AI in automotive industry
5.2 Market Restraints
5.2.1 Problems regarding predictive technology
5.3 Market Opportunities
5.3.1 Urge to confirm proper data management in connected cars
5.4 Future Trends
5.4.1 Arrival of self-driving vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Predictive Vehicle Technology Market - North America Analysis
7. North America Predictive Vehicle Technology Market Analysis - By Hardware
8. North America Predictive Vehicle Technology Market Analysis - By Vehicle Type
9. North America Predictive Vehicle Technology Market Analysis - By Application
10. North America Predictive Vehicle Technology Market Country Analysis
11. North America Predictive Vehicle Technology Market- COVID-19 Impact Analysis
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
AISIN SEIKI Co.Ltd.
HELLA GmbH and Co. KGaA
NXP SEMICONDUCTORS N.V.
Robert Bosch GmbH
ZF Friedrichshafen AG
For more information about this report visit https://www.researchandmarkets.com/r/3o31fq
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