Automotive prognostics market size to increase by USD 5,269.12 million; North America to account for 42% of market growth – Technavio

NEW YORK, Feb. 1, 2023 /PRNewswire/ — The Automotive Prognostics Market by Application, End-user, and Geography – Forecast and Analysis 2023-2027 report has been published by Technavio. Market size is forecast to grow by USD 5,269.12 million between 2022 and 2027 at a CAGR of 21.58%. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download A PDF Sample Report

Regional Analysis

By region, the global automotive prognostics market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. North America will account for 42% of market growth during the forecast period. Factors such as the high adoption of advanced telematics systems in passenger cars and commercial vehicles and the development of autonomous vehicles are driving the growth of the automotive prognostics market in North America. Buy the report

Company Profiles

The automotive prognostics market report includes information on the key products and recent developments of leading vendors, including:

• ANSYS Inc. – The company offers automotive prognostics named Ansys optiSLang for process integration and design optimization.

• Bridgestone Corp. – The company offers automotive prognostics with automotive parts, maintenance services, and repair services.

• Cloudera Inc. – The company offers automotive prognostics such as robotic welding and automation, metal stamping, body in white metal pretreatment, and connected car real time monitoring.

• Continental AG – The company offers automotive prognostics such as a diagnostic routine for scripting and testing, guided fault finding for vehicles, guided service functions for dealer servicing routines, CAD for electrical systems and associated component packaging, and publication of designs and maintenance of building instructions.

Market Dynamics

The market is driven by factors such as maintenance cost-saving benefits of automotive prognostics system, increased focus of prominent automotive OEMs for improving vehicle diagnostics services, and the growing popularity of electric vehicles creating demand for prognostics solutions. However, the high costs associated with telematics services are hindering market growth.

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Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample

Market Segmentation

• By application, the market is segmented into passenger cars and commercial vehicles. The passenger cars segment accounted for the largest share of the market in 2022.

• By geography, the market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. North America held the largest share of the market in 2022.

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What are the key data covered in this automotive prognostics market report?

• CAGR of the market during the forecast period.

• Detailed information on factors that will drive the growth of the market between 2023 and 2027

• Precise estimation of the size of the automotive prognostics market and its contribution to the parent market.

• Accurate predictions about upcoming trends and changes in consumer behavior.

• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa.

• A thorough analysis of the market’s competitive landscape and detailed information about vendors.

• Comprehensive analysis of factors that will challenge the growth of automotive prognostics market vendors.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio