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Automotive Prognostics Market by Application, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR40567
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The automotive prognostics market size has the potential to grow by USD 6.13 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 26.45%. 

This report provides a detailed analysis of the market by end-user (aftermarket and OEMs), application (passenger cars and commercial vehicles), and geography (North America, Europe, APAC, South America, and MEA). 

Automotive Prognostics Market Share

Automotive-Prognostics-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Ansik Inc.
  • Cloudera Inc.
  • Continental AG
  • Dell Technologies Inc.
  • Garrett Motion Inc.
  • General Motors Co.
  • Omnitracs LLC
  • Open Text Corp.
  • Ridgetop Group Inc.
  • Robert Bosch GmbH

 

The automotive prognostics market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as the growing popularity of electric vehicles to achieve growth opportunities. However, factors such as the development of in-house telematics solutions will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the automotive prognostics market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This automotive prognostics market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Automotive Prognostics Market: Key Drivers and Trends

  • The growing popularity of electric vehicles is creating a demand for prognostics solutions.
  • Most governments across the world are promoting the adoption of electric vehicles to reduce pollution and are offering incentives for adopting electric vehicles.
  • Automotive OEMs are leveraging the opportunity and introducing electric vehicles.
  • As prognostics systems are essential in monitoring the health of batteries and electric drivetrains in electric vehicles, electric vehicle OEMs are increasingly deploying telematics solutions such as prognostics systems.
  • With the expected growth of the electric vehicles industry, the demand for prognostics systems will increase.
  • The implementation of 5G technology to enhance prognostics efficiency is one of the critical automotive prognostics market trends
  • Quality Internet connectivity is essential for connected vehicles and their performance.
  • Automotive OEMs have been adopting 4G long-term evolution, which is making the incorporation of telematics solutions easy into vehicles with electronic components.
  • The upcoming semi-autonomous and fully autonomous vehicles will require faster data transfer capability for the better functioning of electronic components such as prognostics systems.
  • The introduction of 5G technology will increase the demand for prognostic systems among autonomous and semi-autonomous vehicle manufacturers.

 

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Automotive Prognostics Market: Segmentation by Geography

Automotive-Prognostics-Market-Market-Share-by-Region-2020-2025

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51% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for automotive prognostics in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

The high adoption of advanced telematics systems in passenger cars and commercial vehicles will facilitate the automotive prognostics market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Automotive Prognostics Market: Segmentation by End-user

Automotive-Prognostics-Market-Market-Share-by-End-2020-2025

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The automotive prognostics market share growth by the aftermarket segment will be significant during the forecast period. The adoption of the prognostics system by existing vehicle owners and fleet operators is likely to reduce unexpected vehicle breakdowns and increase the operating efficiency of fleets. As a result, aftermarket telematics service providers are increasingly demanding prognostics solutions. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive prognostics market size.

 

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Key Highlights of the Automotive Prognostics Market Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automotive prognostics market growth during the next five years
  • Precise estimation of the automotive prognostics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive prognostics industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive prognostics market vendors

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Automotive Prognostics Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 26%

Market growth 2021-2025

$ 6.13 billion

Market structure

Fragmented

YoY growth (%)

18.33

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 51%

Key consumer countries

US, Germany, China, UK, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Ansik Inc., Cloudera Inc., Continental AG, Dell Technologies Inc., Garrett Motion Inc., General Motors Co., Omnitracs LLC, Open Text Corp., Ridgetop Group Inc., and Robert Bosch GmbH

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Passenger cars - Market size and forecast 2020-2025
    • Commercial vehicles - Market size and forecast 2020-2025
    • Market opportunity by Application

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Aftermarket - Market size and forecast 2020-2025
    • OEMs - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Ansik Inc.
      • Cloudera Inc.
      • Continental AG
      • Dell Technologies Inc.
      • Garrett Motion Inc.
      • General Motors Co.
      • Omnitracs LLC
      • Open Text Corp.
      • Ridgetop Group Inc.
      • Robert Bosch GmbH

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      The automotive prognostics market growth will increase by $8.75 billion during 2019-2024.
      The automotive prognostics market is expected to grow at a CAGR of 36.32% during 2019-2024.
      Technavio has segmented the automotive prognostics market by end user (Aftermarket and OEMs) and geographic (North America, Europe, APAC, and South America).
      Ansik Inc., Cloudera Inc., Continental AG, Garrett Motion Inc., General Motors Co., Omnitracs LLC, Open Text Corp., Pivotal Software Inc., Ridgetop Group Inc., Robert Bosch GmbH are a few of the key vendors in the automotive prognostics market.
      North America will register the highest growth rate of 47.41% among the other regions. Therefore, the automotive prognostics market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the automotive prognostics market growth are:
      • Maintenance cost saving benefits of automotive prognostics system
      • Increased accuracy in perceiving environment through sensor fusion technique
      The automotive prognostics market vendors should focus on grabbing business opportunities from the aftermarket segment as it accounted for the largest market share in the base year.
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