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.
Europe Predictive Vehicle Technology Market study by “The Business Market Insights” provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years.
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.
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Leading Europe Predictive Vehicle Technology market Players: 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.
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.
The segmentation of the market by type, application, and region was done based on the thorough market analysis and validation through extensive primary inputs from industry experts, key opinion leaders of companies, and stakeholders) and secondary research (regional/regional associations, trade journals, technical white papers, company’s website, annual report SEC filing, and paid databases). Further, the market has been estimated by utilizing various research methodologies and internal statistical model.
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Europe Predictive Vehicle Technology market report also provide a thorough understanding of the cutting-edge competitive analysis of the emerging market trends along with the drivers, restraints, challenges, and opportunities in the Europe Predictive Vehicle Technology market to offer worthwhile insights and current scenario for making right decision. The report covers the prominent players in the market with detailed SWOT analysis, financial overview, and key developments of the products/services from the past three years. Moreover, the report also offers a 360º outlook of the market through the competitive landscape of the regional industry player and helps the companies to garner Europe Predictive Vehicle Technology market revenue by understanding the strategic growth approaches.
Europe Predictive Vehicle Technology market – Regional Analysis to 2027 is an exclusive and in-depth study which provides a comprehensive view of the market includes the current trend and future amplitude of the market with respect to the products/services. The report provides an overview of the Europe Predictive Vehicle Technology market with the detailed segmentation by type, application, and region through in-depth traction analysis of the overall virtual reality industry. This report provides qualified research on the market to evaluate the key players by calibrating all the relevant products/services to understand the positioning of the major players in Europe Predictive Vehicle Technology market.
The report is a combination of qualitative and quantitative analysis of the Europe Predictive Vehicle Technology Market. The report also focuses on the exhaustive PEST analysis and extensive market dynamics during the forecast period.
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