Automotive E-Horizon Market Anticipated to Register an Impressive Growth Through 2027
Enhanced focus of auto manufacturers on reducing car accidents with innovative systems and enhance fuel-efficiency is expected to drive the global market for automotive e-horizon over the forecast period.
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global automotive e-horizon market is anticipated to witness robust CAGR over the forecast period 2023-2027. Rapidly expanding automotive industry is fueling the growth of the automotive e-horizon content and services across the globe. Moreover, with the growing purchasing power of consumers, the sales of all vehicle types, i.e., electric, ICE and autonomous, have proliferated over the recent years. This has eventually increased the adoption of automotive e-horizon by several automakers. Furthermore, the rising incidences of road accidents have pushed the product demand as the e-horizon system helps in predicting the future hazard, if any, by analysing the road surface and weather conditions. The United States is one of the busiest countries in term of road traffics, with approximately 284 million vehicles on the road as of the third quarter of 2020. The road-related severe injuries recorded in June 2019 were nearly 2.74 million in USA. As a result, the top automobile manufacturers are increasingly incorporating e-horizon systems to curb the incidences of road accidents. Besides, the rising level of carbon and greenhouse emissions from vehicles is acting as an alarming concern for the environment. Moreover, the growing scarcity of fuel is also increasing the dependence on the e-horizon system as it helps in saving fuel by consuming less fuel through predictive driving based on up-to-the-minute data for the route ahead. In addition, this system facilitates longer ranges for hybrid and electric vehicles by optimizing the energy management system. As a result, the global market for automated e-horizon holds a huge potential and is anticipated to grow at a rapid pace in the coming years.
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The global automotive e-horizon market is segmented by ICE vehicles (excluding autonomous), electric vehicles (excluding autonomous), autonomous vehicles, competitive landscape, and regional distribution.
ICE vehicles are anticipated to hold a significant market share in the coming years. This is primarily due to the growing presence of ICE vehicles on the road, compared to electric and autonomous vehicles. Rising concerns towards the rising number of road accidents are also proliferating the adoption of automotive e-horizon systems. Moreover, the increasing greenhouse and carbon emissions from the ICE vehicles are adding to the demand for automotive e-horizon systems. This system optimizes the performance of the vehicle by providing the correct route with real-time data related to traffic and weather conditions, thereby saving time and fuel and resulting in less greenhouse gas emissions.
The integration of e-horizon in autonomous vehicles will work as leverage in increasing trust and reliability in automated car systems. This software helps in building trust by directing the car what lies ahead of the road so that the autonomous car can drive better on its own. By combining e-horizon content and services, vehicle manufacturers can deploy a complete and future-proof location solution for the car.
A list of major market players of the global automotive e-horizon market includes:
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“The global automotive e-horizon market is consolidated between the three top leading companies, Continental AG, Robert Bosch GmbH, and HERE. The technological advancements by these companies and the introduction of advanced e-horizon content and services are expected to support the market growth. For instance, the introduction of Electronic Horizon by HERE creates a simple representation of the route ahead – with a range of a few hundred meters to several kilometers. Then, it transmits the information of that route to the vehicle’s advanced driver assistance systems (ADAS), which optimizes the performance of the engine and enhances the safety of the passenger and the vehicle by accurately predicting the upcoming events. Moreover, the increasing support by the government for an optimized driving style that would help in minimizing the vehicle’s fuel consumption and environmental footprint is further expected to boost the market growth.,” said Mr. Karan Chechi, Research Director, TechSci Research, a research based global management consulting firm.
“Automotive E-Horizon Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By ICE Vehicles (Excluding Autonomous), Electric Vehicles (Excluding Autonomous), Autonomous Vehicles and By Region” has evaluated the future growth potential of global automotive e-horizon 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 automotive e-horizon market.