Companies Have Adopted Strategies Such as New Product Development, Expansion, Mergers & Acquisitions, and Joint Ventures to Gain Traction in the Vehicle Intelligence Systems Market
The vehicle intelligence systems market has been segmented into four major regions—namely, Europe, North America, Asia-Oceania, and the rest of the world (RoW). Europe is estimated to hold the largest market share, followed by North America, Asia-Oceania, and RoW. This can be attributed to the increasing demand for enhanced safety and comfort in European countries such as Germany, France, and the U.K. The effective R&D infrastructure, highly qualified workforce, and complete industry value chain integration has enabled OEMs in Europe to create a wide customer base for these systems.
The vehicle intelligence systems market is dominated by a few global suppliers such as Continental AG (Germany), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K.), and Valeo SA (France). These companies have adopted strategies such as new product development, expansion, mergers & acquisitions, and joint ventures to gain traction in the vehicle intelligence systems market. The companies have a substantial influence on the market, as they possess the technological capabilities required to develop advanced systems.
Robert Bosch GmbH is a leading player in the vehicle intelligence systems market. It has strong R&D capabilities and consistently develops innovative new products to enhance its product portfolio. The company recently opened a new technical center in Lianyungang, China. It has built a new test course area to test its products in real-time conditions. The company also has a strong presence in the European market. It recently built a new mobility solutions development center in Budapest, Hungary to cater to the growing demand for intelligence systems. The center will focus on upgrading the company’s driver assistance and engine control systems product portfolio.
Continental AG is another key player in the vehicle intelligence systems market. The company is strategically targeting growing markets; for instance, it entered into a collaboration agreement with China Automotive Technology & Research Center (CATARC) to work closely in areas such as automotive security, environmental protection, and energy saving. This would help the company develop more customer-oriented products. Continental AG is expanding its presence in growing markets, and is building strong relationships with other suppliers. This would help it establish a wide customer base.
Other major players in the vehicle intelligence systems market include Denso Corporation (Japan), Valeo SA (France), and Magna International Inc. (Canada). These companies are primarily focusing on expanding their regional presence to achieve continuous and sustainable development. This is evident from the numerous collaborations and joint venture projects they have undertaken in recent years.
Related Reports:
Vehicle Intelligence Systems Market by Road Scene Understanding (RTS, RSD, NVS & PDS) Advanced Driver Assistance & Monitoring (ACC, BSD, PA TJA & DMS), Component, Vehicle Type (Passenger Cars & CV) and Region - Industry Trends and Forecast to 2021
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