“Growing awareness regarding vehicle safety and rising sales of luxury cars are expected to drive the vehicle intelligence systems market”
The global vehicle intelligence systems market is projected to grow at a CAGR of 12.24% from 2016 to 2021, to reach a market size of USD 20.11 billion by 2021. Major factors driving the growth of this market include the growing need for enhanced driver, passenger, and pedestrian safety, rapid urbanization, increasing luxury car sales, and stringent safety norms.
“Advanced driver assistance and driver monitoring: Largest market segment”
Advanced driver assistance and driver monitoring systems are primarily used to assist the driver and enhance the driving experience. Safety regulations related to the automotive industry were initially lenient, but the rising number of accidents has led to these regulations becoming progressively stringent. The growing awareness regarding vehicle safety in developing countries is expected to significantly boost the vehicle intelligence systems market in the near future. The growing trend of installing vehicle intelligence technologies and increasing safety concerns relating to vehicles will likely drive the market for advanced driver assistance and driver monitoring systems.
“Europe: Highest growth rate for global vehicle intelligence systems”
The European vehicle intelligence systems market is projected witness the highest growth during the forecast period. In this study, the European region comprises three key countries—that is, Germany, France, and the U.K. The region is dominated by luxury and premium car manufacturers such as BMW AG (Germany), Daimler AG (Germany), Audi AG (Germany), Fiat (Italy), and Volkswagen Group (Germany). As vehicle intelligence systems are predominantly featured in premium and luxury vehicles, Europe offers promising opportunities for intelligence system manufacturers. Additionally, the region is subjected to rigorous emission and safety norms, which would propel the growth of the vehicle intelligence systems market.
The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type – Tier-1 -38%, Tier-2- 35%, OEM - 19%, and Others - 8%
- By Designation - C level - 49%, D level - 34%, and Others - 17%
- By Region - North America - 31%, and Europe - 25%, Asia-Oceania - 44%
The global vehicle intelligence systems market is dominated by a few globally established players, such as Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Robert Bosch GmbH (Germany), and Autoliv Inc. (Sweden). Key growth strategies adopted by these players include new product development, partnerships, agreements, joint ventures, and supply contracts.
Reasons to Buy the Report:
This report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the vehicle intelligence systems market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants/smaller firms as well as established firms to understand the market better, thereby helping them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights with reference to the following points:
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for vehicle intelligences systems market across regions.
- Product Development/Innovation: Detailed insights into R&D activities, upcoming technologies, and new product launches in the global vehicle intelligence systems market.
- Market Diversification: Detailed information about untapped markets, investments, new products, and recent developments in the global vehicle intelligence systems market.
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the market.