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The global automotive prognostics market was valued at USD 1.85 billion in 2023 and is projected to reach USD 2.63 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period (2024-2030). The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Automotive prognostics refers to the field of predictive maintenance within the automotive industry. It involves the use of data analytics, machine learning, and sensor technology to monitor and predict the health and performance of various vehicle components and systems. By analyzing data collected from sensors and vehicle systems in real-time, automotive prognostics aims to forecast potential failures or issues before they occur, allowing for proactive maintenance and minimizing unexpected downtime or repairs. This proactive approach helps enhance vehicle reliability, safety, and overall performance, thereby improving the driving experience and reducing operational costs for vehicle owners and fleet managers.
Impact of COVID-19: The estimation of market sizes took into account the influence of the COVID-19 pandemic, which disrupted supply chains and production schedules, affecting market dynamics.
Russia-Ukraine War Influence: Geopolitical factors like the Russia-Ukraine war were considered, potentially affecting global automotive manufacturing and technology supply chains.
Technological Advancements: Increasing integration of advanced analytics, AI, and machine learning in automotive prognostics systems is driving market growth.
Predictive Maintenance Demand: Growing adoption of predictive maintenance solutions in the automotive industry to minimize downtime and enhance operational efficiency is fueling market expansion.
Safety and Reliability: Emphasis on vehicle safety and reliability is pushing automakers to invest in prognostics systems that can predict and prevent potential failures.
Regulatory Support: Favorable regulatory initiatives promoting the adoption of advanced automotive technologies, including prognostics, are boosting market adoption.
Industry Challenges: Despite growth opportunities, challenges such as data security concerns, interoperability issues, and the need for skilled personnel could impact market growth and adoption rates.
The global key manufacturers of Automotive Prognostics include Ansik Inc., Cloudera Inc., Covisnt, Garret Motion Inc., HARMAN International, Hortonworks, IBM, Pivotal Software Inc. and Preteckt, etc. in 2023, the global top five players have a share approximately % in terms of revenue.
This report aims to provide a comprehensive presentation of the global market for Automotive Prognostics, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Automotive Prognostics. This report contains market size and forecasts of Automotive Prognostics in global, including the following market information:
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Automotive Prognostics companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Global Automotive Prognostics Market, by Application, 2019-2024, 2025-2030 ($ millions)
Global Automotive Prognostics Market Segment Percentages, by Application, 2023 (%)
Global Automotive Prognostics Market, By Region and Country, 2019-2024, 2025-2030 ($ Millions)
Global Automotive Prognostics Market Segment Percentages, By Region and Country, 2023 (%)
Competitor Analysis
The report also provides analysis of leading market participants including:
Further, the report presents profiles of competitors in the market, key players include:
Outline of Major Chapters:
Chapter 1: Introduces the definition of Automotive Prognostics, market overview.
Chapter 2: Global Automotive Prognostics market size in revenue.
Chapter 3: Detailed analysis of Automotive Prognostics company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Automotive Prognostics in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.