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Automotive Prognostics Market to be Driven by the Cost Benefits of Automotive Prognostics Systems | Technavio

LONDON--(BUSINESS WIRE)--Nov 2, 2020--

Technavio has been monitoring the automotive prognostics market and it is poised to decline by USD 8.75 billion during 2020-2024, decelerating at a CAGR of over 36% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201102005786/en/

Technavio has announced its latest market research report titled Global Automotive Prognostics Market 2020-2024 (Graphic: Business Wire).

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive prognostics market. The market growth in 2020 is likely to increase compared to market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by application, which is the leading segment in the market?
    Commercial vehicles.
  • What are the major trends in the market?
    Increased accuracy in perceiving environment through sensor fusion technique.
  • At what rate is the market projected to grow?
    The market growth is projected to decelerate at a CAGR of over 36% during 2020-2024.
  • Who are the top players in the market?
    Ansik Inc., Cloudera Inc., Continental AG, Garrett Motion Inc., General Motors Co., Omnitracs LLC, Open Text Corp., Pivotal Software Inc., Ridgetop Group Inc., and Robert Bosch GmbH are the top players in the market.
  • What are the key market drivers and challenges?
    The market is driven by the cost benefits of automotive prognostics systems. However, the high cost associated with telematics services might hamper growth.

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The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. Ansik Inc., Cloudera Inc., Continental AG, Garrett Motion Inc., General Motors Co., Omnitracs LLC, Open Text Corp., Pivotal Software Inc., Ridgetop Group Inc., and Robert Bosch GmbH are some of the major market participants. Although the cost benefits of automotive prognostics systems will offer immense growth opportunities, high costs associated with telematics services is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this automotive prognostics market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Automotive Prognostics Market 2020-2024: Segmentation

Automotive Prognostics Market is segmented as below:

  • Application
    • Aftermarket
    • OEMs
  • Geography
    • North America
    • Europe
    • APAC
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40567

Automotive Prognostics Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive prognostics market report covers the following areas:

  • Automotive Prognostics Market Size
  • Automotive Prognostics Market Trends
  • Automotive Prognostics Market Industry Analysis

This study identifies increased accuracy in perceiving environment through sensor fusion technique as one of the prime reasons driving the Automotive Prognostics Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Automotive Prognostics Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist automotive prognostics market growth during the next five years
  • Estimation of the automotive prognostics market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive prognostics market
  • 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

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

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 2019-2024
  • Commercial vehicles - Market size and forecast 2019-2024
  • Market opportunity by Application

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Aftermarket - Market size and forecast 2019-2024
  • OEMs - Market size and forecast 2019-2024
  • Market opportunity by End-user

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - External factors
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 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

Appendix

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

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201102005786/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:[email protected]

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MANUFACTURING AFTERMARKET GENERAL AUTOMOTIVE AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 11/02/2020 08:15 PM/DISC: 11/02/2020 08:15 PM

http://www.businesswire.com/news/home/20201102005786/en

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