Dublin, Jan. 05, 2021 (GLOBE NEWSWIRE) -- The "Asia Pacific 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 APAC is expected to grow from US$ 10.64 million in 2019 to US$ 25.33 million by 2027; it is estimated to grow at a CAGR of 13.91% from 2020 to 2027.
The COVID-19 pandemic has interrupted business operations of various manufacturing businesses including automotive. As per the data published by the China Association of Automobile Manufacturers (CAAM), the vehicle sales declined by more than 43%, from 25.2 units in March 2019 to 1.43 units in March 2020. The governments of countries such as China and India are taking drastic measures to reduce the effects of COVID-19 outbreak with lockdowns and travel bans.
Based on hardware, the ADAS segment led the predictive vehicle technology market in 2019. 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. Moreover, the same technologies which facilitate ADAS offerings might be further used to build fully autonomous vehicles. Therefore, both OEMs and high-tech players are taking steps to integrate ADAS into autonomous vehicles. Any ADAS technology which gains early support would have a benefit when the autonomous cars reach the market, which ultimately drives the predictive vehicle technology market.
Key players operating in the APAC 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:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Predictive Vehicle Technology Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Predictive Vehicle Technology-APAC Market Dynamics
5.1 Market Drivers
5.1.1 Integration of AI in automotive industry
5.2 Market Restraints
5.2.1 Issues regarding predictive technology
5.3 Market Opportunities
5.3.1 Demand to ensure proper data management in connected cars
5.4 Future Trends
5.4.1 Emergence of self-driving vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Predictive Vehicle Technology Market - APAC Analysis
7. APAC Predictive Vehicle Technology Market Analysis By Hardware
8. APAC Predictive Vehicle Technology Market Analysis By Vehicle Type
9. APAC Predictive Vehicle Technology Market Analysis By Application
10. APAC Predictive Vehicle Technology Market - Country Analysis
11. Impact of COVID-19 Pandemic On APAC Predictive Vehicle Technology Market
11.1 APAC: Impact Assessment of COVID - 19 Pandemic
12. Industry Landscape
12.1 Market Initiative
12.2 New Development
13. Company Profiles
- AISIN SEIKI Co. Ltd.
- Aptiv PLC
- Continental AG
- HELLA GmbH and Co. KGaA
- NXP SEMICONDUCTORS N.V.
- Robert Bosch GmbH
- Valeo
- Visteon Corporation
- ZF Friedrichshafen AG
For more information about this report visit https://www.researchandmarkets.com/r/i5j70s
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