Global Automotive Prognostics Market 2024-2028

Global Automotive Prognostics Market 2024-2028

Technavio has been monitoring the automotive prognostics market and is forecast to grow by USD 9925.4 mn during 2023-2028, accelerating at a CAGR of 29.12% during the forecast period. Our report on the automotive prognostics market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by maintenance cost-saving benefits of automotive prognostics system, increased focus of prominent automotive oems for improving vehicle diagnostics services, and growing popularity of electric vehicles creating demand for prognostics solutions.

Technavio's automotive prognostics market is segmented as below:

By Application

• Passenger cars
• Commercial vehicles

By End-user

• Aftermarket
• OEMs

By Geographical Landscape

• North America
• Europe
• APAC
• South America
• Middle East and Africa

This study identifies the traditional automotive suppliers entering automotive telematics market as one of the prime reasons driving the automotive prognostics market growth during the next few years. Also, development of autonomous vehicles to benefit prognostics demand and implementation of 5G technology to enhance prognostics efficiency will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the automotive prognostics market covers the following areas:

• Automotive prognostics market sizing
• Automotive prognostics market forecast
• Automotive prognostics market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive prognostics market vendors that include ANSYS Inc., Bridgestone Corp., Cloudera Inc., Continental AG, Dell Technologies Inc., Digital Management LLC, Fleet Complete, Garrett Motion Inc., International Business Machines Corp., Magna International Inc., OpenText Corp., Pioneer Corp., Predii Inc., Preteckt Inc., Progress Software Corp., Ridgetop Group Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Solera Holdings LLC, and VMware Inc.. Also, the automotive prognostics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.