PUBLISHER: The Business Research Company | PRODUCT CODE: 1681900
PUBLISHER: The Business Research Company | PRODUCT CODE: 1681900
Automotive prognostics, also referred to as vehicle prognostics, is an engineering discipline focused on predicting the functioning and condition of a vehicle's systems and components in the future. It involves monitoring and assessing various metrics and data to determine deviations or deterioration from expected normal operating conditions.
The primary components of automotive prognostics include hardware, software, and services. Hardware is utilized to gather data on different parameters and execute algorithms for analysis. Various vehicle types, such as passenger vehicles, hatchbacks, sedans, utility vehicles, light commercial vehicles, trucks, buses, and coaches, are involved in applications such as engine (combustion control, condition monitoring), battery (electric power generation, traction battery), power steering system, suspension system, onboard monitoring & diagnostics (OBMD), and are utilized by end-users including original equipment manufacturers (OEMs), aftermarket, fleet operators, and private owners.
The automotive prognostic market research report is one of a series of new reports from The Business Research Company that provides automotive prognostic market statistics, including automotive prognostic industry global market size, regional shares, competitors with an automotive prognostic market share, detailed automotive prognostic market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive prognostic industry. This automotive prognostic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive prognostics market size has grown rapidly in recent years. It will grow from $8.32 billion in 2024 to $9.68 billion in 2025 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing vehicle complexity, regulatory compliance, growing focus on fleet management, manufacturer and aftermarket adoption, integration with telematics systems.
The automotive prognostics market size is expected to see rapid growth in the next few years. It will grow to $16.28 billion in 2029 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to ai and machine learning advancements, increasing connectivity in vehicles, focus on electric and hybrid vehicles, customized predictive maintenance strategies, regulatory emphasis on predictive maintenance. Major trends in the forecast period include collaboration with data analytics providers, cybersecurity considerations, advancements in sensor technologies, connected car technologies, condition-based monitoring.
The increase in road accidents is anticipated to drive the growth of the automotive prognostics market in the future. Road accidents refer to incidents where vehicles on the road collide with each other, pedestrians, or stationary objects such as barriers, trees, or utility poles. Automotive prognostics, or predictive diagnosis, aims to support effective maintenance planning, leading to reduced downtime, lower costs, enhanced safety, and greater value for roadways, ultimately helping to reduce road accident fatalities. For example, in June 2024, according to Llywodraeth Cymru / Welsh Government, a government administration in Wales, police forces in Wales reported a total of 4,348 road casualties in 2023, marking a 2% increase compared to 2022. Thus, the rising need for predictive diagnostics on the road is fueling growth in the automotive prognostics market.
Leading companies in the automotive prognostics market are leveraging strategic partnerships to foster the development of innovative automotive prognostics. These partnerships benefit automotive prognostic firms by combining resources and expertise, strengthening research and development, expanding market reach, and accelerating commercialization efforts. This collaborative strategy promotes innovation and drives growth within the automotive prognostics field. For example, in October 2023, Infineon Technologies AG, a semiconductor manufacturing company based in Germany, partnered with Eatron Technologies, a UK-based software company. This partnership aims to enhance automotive battery management systems (BMS) by incorporating machine learning into Infineon's AURIX TC4x microcontroller, focusing on improved battery performance, accuracy, and prognostics, such as state of health (SoH) and remaining useful life (RUL) predictions.
In June 2022, Siemens Aktiengesellschaft, a Germany-based automation company, acquired Senseye for an undisclosed amount. The acquisition aims to enhance Siemens' capabilities in predictive maintenance and asset intelligence. By integrating Senseye's AI-driven solutions, Siemens seeks to improve machine performance, minimize unplanned downtimes, and boost operational efficiency across various industries. Senseye Ltd. is a UK-based software company specializing in automotive prognostics.
Major companies operating in the automotive prognostics market report are Stellantis N.V., General Motors Company, Bayerische Motoren Werke AG, Tesla Inc., International Business Machines Corporation, DENSO Corporation, Continental AG, Magna International Inc., Bridgestone Corporation, Cummins Inc., ZF Friedrichshafen AG, Lear Corporation, Infineon Technologies AG, NXP Semiconductor Inc., Harman International Industries, Delphi Technologies, Garrett Motion Inc., Ansys Inc., Digital Management LLC, HCL Technologies Limited, Robert Bosch GmbH, Aeris Communications, Covisint Corp., Cognosos Inc., Preteckt Inc., Acerta Analytics Solutions Inc., Ansik Inc., Hitachi Astemo Ltd
North America was the largest region in the automotive prognostics market in 2024. The regions covered in the automotive prognostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive prognostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The automotive prognostics market consists of revenues earned by entities by providing services such as bi-directional information exchanges, real-time performance assessments, and predictive failure analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The automotive prognostics market also includes sales of software, tools, fault modeling tools, and health indicators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Prognostics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive prognostics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive prognostics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive prognostics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.