Automotive Prognostics Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

Description

Market Overview

The market size of the worldwide automotive prognostics was approximately USD 9,481.3 million in 2024, and it is projected to attain USD 22,642.4 million by the end of 2030, growing at a CAGR of 15.6% during the projection period. With technical improvements, the complexity of vehicle design is surging, and therefore, the demand for dependable and effective prognostic solutions is increasing.

The surge in the count of enhanced electronic systems in vehicles has made the overall vehicle extremely complex. The acceptance of AI and ML in automobile prognostics has significantly advanced the predictive abilities of prognostics systems.

The enhanced algorithms can spot faults more exactly and send maintenance alarms. By using a prognostics system, vehicle makers can design maintenance schedules, as it gives knowledge regarding the wear and tear of different parts and the interval after which they require to be replaced.

There has been a relatively increasing incidence of road traffic accidents in recent years which has resulted in killing and embezzlement of money. According to the National Highway Traffic Safety Administration of the United States, 42,795 human beings died in the United States in 2022 due to road traffic crashes. To minimize the chance of accidents arising from a failure of in-vehicle equipment, manufacturers of automobiles are fitting failure prediction systems.

Key Insights

Battery is the largest category with a 35% share in 2024.

Expected to grow at a 16.0% CAGR during 2024-2030.

Growth was driven by increasing electric components and sales of electric vehicles.

Need for predictive maintenance systems due to battery failures and explosions.

Passenger vehicles hold a 45% share in 2024.

Growth due to post-COVID-19 sales increase, technological advancements, and higher purchasing power.

Prognostics solutions minimize unplanned downtime, enhancing ownership experience and brand trust.

Light commercial vehicles are the fastest-growing category with a 16.1% CAGR during 2024-2030.

Long, rough usage makes them prone to equipment and mechanical failure.

Fleet operators focus on fleet management and scheduled maintenance.

OEMs dominate the market with a 40% share in 2024.

Prognostics software is used to pre-analyze equipment strength, ensure vehicle durability, and set warranty durations.

Fleet operators to witness the highest CAGR of 16.3% during the forecast period.

Growing demand for vehicle management and maintenance scheduling for smooth operations.

North America holds the largest share with 50% in 2024.

Presence of key automotive manufacturers, strict road safety rules, and advanced infrastructure.

Asia-Pacific is expected to experience the highest CAGR of 16.5% during 2024-2030.

Expanding automotive industry, adoption of connected vehicles, rising road safety awareness, and increasing purchasing power.

Europe holds the second-largest share.

Development of autonomous and connected vehicles driving needs for monitoring and optimizing vehicle performance.

Product Code: 12984

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by application
- 1.4.2. Market size breakdown, by vehicle type
- 1.4.3. Market size breakdown, by end user
- 1.4.4. Market size breakdown, by region
- 1.4.5. Market size breakdown, by country
1.5. Market Data Reporting Unit
- 1.5.1. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Revenue, by Application (2019-2030)
6.3. Market Revenue, by Vehicle Type (2019-2030)
6.4. Market Revenue, by End User (2019-2030)
6.5. Market Revenue, by Region (2019-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Revenue, by Application (2019-2030)
7.3. Market Revenue, by Vehicle Type (2019-2030)
7.4. Market Revenue, by End User (2019-2030)
7.5. Market Revenue, by Country (2019-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Revenue, by Application (2019-2030)
8.3. Market Revenue, by Vehicle Type (2019-2030)
8.4. Market Revenue, by End User (2019-2030)
8.5. Market Revenue, by Country (2019-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Revenue, by Application (2019-2030)
9.3. Market Revenue, by Vehicle Type (2019-2030)
9.4. Market Revenue, by End User (2019-2030)
9.5. Market Revenue, by Country (2019-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Revenue, by Application (2019-2030)
10.3. Market Revenue, by Vehicle Type (2019-2030)
10.4. Market Revenue, by End User (2019-2030)
10.5. Market Revenue, by Country (2019-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Revenue, by Application (2019-2030)
11.3. Market Revenue, by Vehicle Type (2019-2030)
11.4. Market Revenue, by End User (2019-2030)
11.5. Market Revenue, by Country (2019-2030)

Chapter 12. U.S. Market

12.1. Overview
12.2. Market Revenue, by Application (2019-2030)
12.3. Market Revenue, by Vehicle Type (2019-2030)
12.4. Market Revenue, by End User (2019-2030)

Chapter 13. Canada Market

13.1. Overview
13.2. Market Revenue, by Application (2019-2030)
13.3. Market Revenue, by Vehicle Type (2019-2030)
13.4. Market Revenue, by End User (2019-2030)

Chapter 14. Germany Market

14.1. Overview
14.2. Market Revenue, by Application (2019-2030)
14.3. Market Revenue, by Vehicle Type (2019-2030)
14.4. Market Revenue, by End User (2019-2030)

Chapter 15. France Market

15.1. Overview
15.2. Market Revenue, by Application (2019-2030)
15.3. Market Revenue, by Vehicle Type (2019-2030)
15.4. Market Revenue, by End User (2019-2030)

Chapter 16. U.K. Market

16.1. Overview
16.2. Market Revenue, by Application (2019-2030)
16.3. Market Revenue, by Vehicle Type (2019-2030)
16.4. Market Revenue, by End User (2019-2030)

Chapter 17. Italy Market

17.1. Overview
17.2. Market Revenue, by Application (2019-2030)
17.3. Market Revenue, by Vehicle Type (2019-2030)
17.4. Market Revenue, by End User (2019-2030)

Chapter 18. Spain Market

18.1. Overview
18.2. Market Revenue, by Application (2019-2030)
18.3. Market Revenue, by Vehicle Type (2019-2030)
18.4. Market Revenue, by End User (2019-2030)

Chapter 19. Japan Market

19.1. Overview
19.2. Market Revenue, by Application (2019-2030)
19.3. Market Revenue, by Vehicle Type (2019-2030)
19.4. Market Revenue, by End User (2019-2030)

Chapter 20. China Market

20.1. Overview
20.2. Market Revenue, by Application (2019-2030)
20.3. Market Revenue, by Vehicle Type (2019-2030)
20.4. Market Revenue, by End User (2019-2030)

Chapter 21. India Market

21.1. Overview
21.2. Market Revenue, by Application (2019-2030)
21.3. Market Revenue, by Vehicle Type (2019-2030)
21.4. Market Revenue, by End User (2019-2030)

Chapter 22. Australia Market

22.1. Overview
22.2. Market Revenue, by Application (2019-2030)
22.3. Market Revenue, by Vehicle Type (2019-2030)
22.4. Market Revenue, by End User (2019-2030)

Chapter 23. South Korea Market

23.1. Overview
23.2. Market Revenue, by Application (2019-2030)
23.3. Market Revenue, by Vehicle Type (2019-2030)
23.4. Market Revenue, by End User (2019-2030)

Chapter 24. Brazil Market

24.1. Overview
24.2. Market Revenue, by Application (2019-2030)
24.3. Market Revenue, by Vehicle Type (2019-2030)
24.4. Market Revenue, by End User (2019-2030)

Chapter 25. Mexico Market

25.1. Overview
25.2. Market Revenue, by Application (2019-2030)
25.3. Market Revenue, by Vehicle Type (2019-2030)
25.4. Market Revenue, by End User (2019-2030)

Chapter 26. Saudi Arabia Market

26.1. Overview
26.2. Market Revenue, by Application (2019-2030)
26.3. Market Revenue, by Vehicle Type (2019-2030)
26.4. Market Revenue, by End User (2019-2030)

Chapter 27. South Africa Market

27.1. Overview
27.2. Market Revenue, by Application (2019-2030)
27.3. Market Revenue, by Vehicle Type (2019-2030)
27.4. Market Revenue, by End User (2019-2030)

Chapter 28. U.A.E. Market

28.1. Overview
28.2. Market Revenue, by Application (2019-2030)
28.3. Market Revenue, by Vehicle Type (2019-2030)
28.4. Market Revenue, by End User (2019-2030)

Chapter 29. Competitive Landscape

29.1. List of Market Players and their Offerings
29.2. Competitive Benchmarking of Key Players
29.3. Product Benchmarking of Key Players
29.4. Recent Strategic Developments

Chapter 30. Company Profiles

30.1. IBM Corporation
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
30.2. Continental AG
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
30.3. Robert Bosch GmbH
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
30.4. Cummins Inc.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
30.5. Intel Corporation
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
30.6. Ansys Inc.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
30.7. Cloudera Inc.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
30.8. Garret Motion Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
30.9. HARMAN International
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
30.10. ZF Friedrichshafen AG
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
30.11. NXP Semiconductors N.V.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary

Chapter 31. Appendix

31.1. Abbreviations
31.2. Sources and References
31.3. Related Reports

Automotive Prognostics Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)