Vehicle Intelligence System Market to Grow with a CAGR of 6.84% Through 2028
The escalating demand
for advanced driver-assistance systems (ADAS), including features like adaptive
cruise control and collision avoidance are the factors driving market in the
forecast period 2024-2028.
According to
TechSci Research report, “Vehicle Intelligence System Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Vehicle Intelligence System Market stood at USD 7.71 Billion in 2022
and is anticipated to grow with a CAGR of 6.84% in the forecast period,
2024-2028 The Global Vehicle Intelligence
System (VIS) market is experiencing a transformative phase, driven by the
integration of cutting-edge technologies into the automotive landscape. As of
my last knowledge update in January 2022, the market is characterized by the
rapid adoption of advanced driver-assistance systems (ADAS), connectivity
solutions, and artificial intelligence (AI) across various vehicle types. VIS
encompasses a spectrum of technologies aimed at making vehicles smarter, safer,
and more efficient.
ADAS features,
such as adaptive cruise control, lane-keeping assist, and automatic emergency
braking, have become standard offerings in modern vehicles, contributing
significantly to the demand for VIS. The growing emphasis on road safety,
coupled with regulatory mandates, propels the integration of these
safety-enhancing technologies. Connectivity solutions, including
vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication,
facilitate real-time data exchange, enabling features like traffic management,
navigation assistance, and over-the-air (OTA) updates.
Artificial
intelligence plays a pivotal role in VIS, enabling the processing of massive
datasets from sensors and cameras. Machine learning algorithms enhance
decision-making capabilities, leading to features like predictive analytics,
adaptive learning, and improved autonomous driving functionalities. The quest
for autonomous vehicles is a key driver, with VIS serving as a critical
component in achieving higher levels of automation.
The market is
marked by collaborations between traditional automotive manufacturers and
technology companies, reflecting the industry's shift towards a more
interconnected and intelligent ecosystem. The evolution of smart cities and the
broader Internet of Things (IoT) landscape further amplifies the demand for
VIS, as vehicles become integral nodes in interconnected urban environments.
Challenges in
the form of data security concerns, high initial costs, and the need for
standardization exist but are being addressed through technological
advancements and industry collaborations. As the automotive industry continues
its digital transformation, the Global Vehicle Intelligence System market is
poised for sustained growth, shaping the future of mobility and transportation.
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market data Figures spread through 180 Pages and an in-depth TOC on "
Global Vehicle Intelligence System Market.”
North America is
a key player in the Global Vehicle Intelligence System (VIS) market, driven by
a combination of technological innovation, a mature automotive sector, and a
strong regulatory push for enhanced vehicle safety. The region, including the
United States and Canada, has been an early adopter of advanced
driver-assistance systems (ADAS) and connected vehicle technologies. Stricter
safety standards and the presence of major automotive and technology companies
contribute to the region's leadership in integrating VIS features.
Collaborations between Silicon Valley tech firms and traditional automakers
further accelerate the development and deployment of intelligent vehicle
systems in North America.
Europe is at the
forefront of embracing Vehicle Intelligence Systems, reflecting a strong
emphasis on safety, environmental sustainability, and smart mobility solutions.
The European market is characterized by a significant adoption of electric
vehicles (EVs), advanced ADAS features, and connectivity solutions. Stringent
emissions regulations and a consumer base focused on eco-friendly alternatives
drive the integration of intelligent systems. European automakers are actively
collaborating to develop standardized communication protocols, ensuring
interoperability among different VIS technologies. The region's commitment to
smart cities and evolving transportation infrastructures further fuels the
demand for VIS applications.
Asia-Pacific
stands as a dynamic and influential region in the VIS market, fueled by the
rapid growth of the automotive industry, technological advancements, and a
burgeoning middle class. Countries such as China, Japan, and South Korea are
witnessing widespread adoption of VIS features in both passenger and commercial
vehicles. The region leads in electric vehicle deployment, connectivity
solutions, and advancements in artificial intelligence. Government initiatives
supporting smart transportation and the development of smart cities contribute
to Asia-Pacific's role as a major driver of innovation and market growth in the
VIS landscape.
Latin America is
experiencing a growing interest in Vehicle Intelligence Systems, influenced by
factors such as urbanization, improving economic conditions, and a rising
awareness of safety features. While the adoption of advanced VIS components may
vary across countries due to economic disparities, the region experiences a
notable demand for basic safety features and connectivity solutions. The Latin
American market is characterized by collaborations between global automakers
and local players to address specific regional needs. As the automotive
industry continues to evolve, Latin America presents opportunities for the
expansion of VIS technologies in both passenger and commercial vehicles.
The Middle East
and Africa are gradually embracing Vehicle Intelligence Systems, driven by
factors such as urbanization, smart city initiatives, and a rising middle
class. Governments in the region are investing in smart transportation
infrastructure, creating an environment conducive to the integration of VIS
technologies. The demand for safety features, connectivity, and advanced
driver-assistance systems is on the rise. However, challenges related to
economic disparities and the need for customized solutions to suit local
conditions shape the dynamics of the VIS market in the Middle East and Africa.
Collaborations with global technology providers are playing a pivotal role in
introducing advanced solutions to the region's automotive landscape.
Major companies operating
in Global Vehicle Intelligence System Market are:
- Denso Corporation
- Delphi Automotive PLC
- Autoliv Inc.
- Magna International Inc.
- Robert Bosch GmbH
- Mobileye NV
- Infineon Technologies AG
- Continental AG
- Wabco Holdings Inc.
- Valeo S.A.
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“In the rapidly
advancing field of Vehicle Intelligence Systems, the integration of artificial
intelligence, connectivity, and advanced safety features represents a pivotal
shift toward a safer, more efficient, and interconnected future of mobility.
Emphasizing the need for robust cybersecurity measures and standardized
communication protocols, experts anticipate a transformative impact on both
personal and commercial transportation, shaping a landscape where vehicles are
not just modes of transport but intelligent entities contributing to a
seamlessly connected transportation ecosystem. The continuous collaboration
between automotive and technology sectors, coupled with a focus on user
experience and sustainable solutions, underscores the expert consensus on the
transformative trajectory of Vehicle Intelligence Systems in reshaping the
future of transportation.,” said Mr. Karan Chichi, Research Director with
TechSci Research, a research-based management consulting firm.
“Vehicle Intelligence
System Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By
Road Scene Understanding (RTS, RSD, NVS, Others), By Vehicle Type (Passenger
Cars and Commercial Vehicles), By Advanced Driver Assistance & Monitoring (ACC, BSP, PATJA, DMS,
Others), By Region, Competition, 2018-2028”, has
evaluated the future growth potential of Global Vehicle Intelligence System
Market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Vehicle Intelligence
System Market.
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