Vehicle Intelligence System Market Size is expected to cross USD 20,110 Million by 2030 at a CAGR of 12.25% during the forecast period 2022- 2030
The global Vehicle Intelligence Systems (VIS) market is estimated to witness USD 20110 million at a 12.25% CAGR during the forecast period.
Vehicle Intelligence Systems (VIS) is installed in vehicles to ensure the safety of the driver, the passengers, and pedestrians. VIS analyzes the vehicle functioning thereby avoiding potential danger with other vehicles. Upon the installation of VIS, vehicles exchange the information using a two way communication system. The lanes of the automated highways are having a computer controlled system which notify the drivers of the traffic jam, provides parking assistance and avoids collision. On the basis of vehicle type, commercial vehicle segment is expected to dominate the global vehicle intelligence system market due to the need for enhanced safety of commercial vehicles because these vehicle are meant for long distance travelling. The use of VIS in commercial vehicles, which hold a major opportunity for manufactures to increase their market share, is limited. On the basis of road scene understanding, road tracking system (RTS) is expected to dominate the market due to the increase in demand for intelligence systems. This is because of the rising vehicle production and increase in the road accidents. Based on advanced driver assistance & monitoring, park assist (PA) segment is expected to dominate the market due to the low cost of integration in all vehicle segments.
Europe is expected to dominate the global vehicle intelligence system market during the forecast period.
The key players of Global Vehicle Intelligence System Market are Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden), Magna International Inc. (Canada), Robert Bosch GmbH (Germany), Mobileye NV (Israel), Infineon Technologies AG (Germany), Continental AG (Germany), Wabco Holdings Inc. (Belgium), and Valeo SA (France).
Europe is expected to have the largest market share during the forecast period due to the presence of major automotive players in these region. There is an increase in demand for the vehicle intelligence system in countries such as U.K., Germany, and France due to the presence of premium and luxury vehicles here. In Asia-Pacific, India, Japan, South Korea, and China are the key market for the growth of these region due to the increase in demand for luxury vehicles and rise in automotive manufacturers.
The report for Vehicle intelligence System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030: 20,110 Million USD|
|CAGR||12.25% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Vehicle Type, Road Scene Understanding, Advanced Driver Assistance & Monitoring, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Denso Corporation (Japan), Delphi Automotive PLC (U.K.), Autoliv Inc. (Sweden), Magna International Inc. (Canada), Robert Bosch GmbH (Germany), Mobileye NV (Israel), Infineon Technologies AG (Germany), Continental AG (Germany), Wabco Holdings Inc. (Belgium), and Valeo SA (France).|
|Key Market Opportunities||
|Key Market Drivers||Rise in demand for safety features|
The vehicle intelligence system market can thrive at 12.25% CAGR by 2030.
The vehicle intelligence system market can value at USD 20,110 Million by 2030.
Delphi Automotive PLC (U.K.), Denso Corporation (Japan), Magna International Inc. (Canada), and Autoliv Inc. (Sweden) are some reputed companies in the vehicle intelligence system market.
The rise in demand for safety features can impel the global vehicle intelligence system market expansion.
Increase in number of startups that deal in vehicle intelligence system can boost the market expansion in North America.