Predictive Automobile Technology Market: Market Outlook
Machine leaning (ML) and Artificial Intelligence (AI) have an important part in the coming future of the auto industry as predictive technologies are getting more traction in installation across all vehicle types providing utmost convenience for the driver. Most of the manufacturers are implementing algorithms that consume data to automate the way of setting up a vehicle, including an auto's application preferences and its infotainment framework. Automobiles manufactures are shifting into IoT gadgets which can associate with take voice commands, changing the UI (user interface).
Predictive automobile technology can similarly be utilized as sensors present within a car that reports the proprietor if the car needs a service from a mechanic. Depending on car’s condition and mileage, the technology will be able to evaluate vehicle performance, set up meeting/appointments in actual time and inform users of any safety risks linked with a malfunctioning car due to company recalls. Further, most of the manufacturers are influenced that predictive maintenance is equally economically and logistically prudent. Also, this technology helps individual companies and customer to avoid vehicle downtime and can offer other insights regarding automotive usage patterns and part wear.
Increasing In Number of Vehicle Coupled With Rising Demand for Vehicle Safety & Fuel Optimization to Craft Novel Growth Opportunities
Rise in demand to improve the performance of the car coupled rise in number of vehicles will spur the demand for predictive automotive technology market. Predictive automobile technology helps to identify vehicle maintenance issues prior to they occur. By leveraging data from guarantee repairs with current vehicle sensor data, predictive automobile technology can find significant connections that would be difficult for a human to discover in a short period of time
Predictive Automobile Technology Market Trend: Major Companies Focus on Developing Innovative and Novel Product to improve their Customer Touch Point and Sustain Lead
Most of the automotive companies are working on predictive automobile technology project to improve the cost performance ratio of products, system and equipment. With the adoption of this technology could result in substantial cost savings and higher system reliability. However, most of the companies are shying away from the transformation of their business model and the radical changes that come with it for the entire organization.
The predictive automobile technology not only limited to cars and personal vehicles either. The trucking industry is already seeing a similar movement powered by IoT and sensor technologies that allows manufacturers to monitor data proactively to guarantee truck safety, fuel optimization and even monitoring of cargo. A prominent manufacturer in this type of analytics solution have already deployed this type of solution and seen strong results that included improvements of more than thirty percent in truck uptime and the prediction of failures 30 days out at an accuracy rate of 90 percent.
Predictive Automobile technology Market: Major Development
- Foray Motor Group's TRACKER platform would provide information regarding time and distance traveled and fuel consumption, insurance renewals and servicing reminders and CO2 emission rates of the vehicle. It is also compatible with Google Maps which provide directions to all the nearby amenities.
- Goodyear built on its commercial solution based on the success tested in the predictive analytics test program with a city-to-city mobility service named Tesloop, which exclusively used Tesla electric vehicles for the study. The commercialization of Goodyear’s Proactive Solutions used for truck fleets tires maintenance and management make use of advanced telematics and predictive automobile technology
Predictive Automobile technology Market: Market Participants
Examples of some of the market participants/vendors identified in the Predictive Automobile technology market across the globe are:
- Robert Bosch GmbH
- International Business Machines (IBM) Corporation
- Honeywell International Inc.
- Siemen AG
- SAP SE
- IBM Corporation
- Harman International
- Microsoft Corporation
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Predictive Automobile technology Market: Segmentation
On the basis of vehicle type, the Predictive Automobile technology market can be segmented into:
- Passenger Car Predictive Automobile Technology
- Commercial Car Predictive Automobile Technology
On the basis of deployment model, the Predictive Automobile technology market can be segmented into:
- On-Premise Predictive Automobile Technology
- On-Demand Predictive Automobile Technology
On the basis of application, the Predictive Automobile technology market can be segmented into:
- Maintenance Analysis Predictive Automobile Technology
- Driving Pattern analysis Predictive Automobile Technology
- Predictive Smart Parking Predictive Automobile Technology
The report covers exhaustive analysis on:
- Market Segments of Predictive Automobile Technology
- Market Dynamics of Predictive Automobile Technology
- Market Size of Predictive Automobile Technology
- Supply & Demand of Predictive Automobile Technology
- Current Trends/Issues/Challenges of Predictive Automobile Technology
- Competition & Companies involved of Predictive Automobile Technology
- Technology of Predictive Automobile Technology
- Value Chain of Predictive Automobile Technology
Regional analysis includes:
- North America (U.S., Canada) Predictive Automobile Technology
- Latin America (Mexico, Brazil) Predictive Automobile Technology
- Western Europe (Germany, Italy, France, U.K, Spain) Predictive Automobile Technology
- Eastern Europe (Poland, Russia) Predictive Automobile Technology
- Asia Pacific (China, India, ASEAN, Australia & New Zealand) Predictive Automobile Technology
- Japan Predictive Automobile Technology
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa) Predictive Automobile Technology
- Detailed overview of parent market
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- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
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- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
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