Test Solutions for Electronic and Autonomous Vehicles to Spark $2.81 Billion in Revenues by 2024

Reading time ( words)

Frost & Sullivan’s latest analysis, Global Integrated Automotive Test Solutions, Forecast to 2024, finds the focus on test solutions for electric vehicles, emission control, and autonomous vehicles is set to create $2.81 billion worth of new revenue opportunities by 2024. The Measurement & Instrumentation team at Frost & Sullivan expects partnerships and collaborations between test equipment manufacturers and technology companies developing and testing autonomous vehicles will boost the progress of next-generation test equipment. A detailed assessment of key market dynamics, emerging automotive technologies, drivers, restraints, revenue forecasts, and market share and competitive analysis of key segments such as electronic, mechatronic, telematics and connectivity, and ECU functional test systems are also included in the forecast.

The complexity in modern-day automotive systems necessitates the comprehensive testing of both electronics and software. New entrants from adjacent markets such as information technology, safety systems, and cellular network providers are entering into the automotive telematics systems market, thereby opening up new growth opportunities for test system vendors.

“Owing to the high competition, telematics vendors are striving to develop innovative solutions such as voice-recognition, gesture-control systems, telematics control units, and advanced head-up displays driving the need for robust testing solutions in their Research and Development (R&D) and manufacturing divisions,” said Jessy Cavazos, Measurement & Instrumentation industry director at Frost & Sullivan. “In the future, advanced driver assistance systems (ADAS) technologies are likely to be integrated to build fully autonomous vehicles, further increasing the need for test equipment in the telematics market.”

Big predictions include:

  • Dynamometers and vehicle emission test segments providing significant prospects over the next five to seven years
  • The share of electronics in a single car is expected to increase from 40 percent (2017) to more than 55 percent by 2024
  • Automotive OEMs beginning to adopt standardized technical services to test and issue test results that will be primarily monitored by regulatory authorities, thereby opening up new opportunities for test equipment vendors and service providers
  • The global integrated automotive test solutions market is expected to grow at a CAGR of 6.8 percent from 2017 to 2024 to reach $2.81 Billion by 2024
  • Rapid innovation in connected cars and autonomous vehicles driving the need for electronic test equipment and
  • New growth in key markets such as Japan, South Korea, and Singapore if test equipment vendors actively collaborate with these governments

“Key challenges such as the conservative mindset of cost-conscious vehicle manufacturers and complexity in integrating mechatronic and electronic test systems are dissuading the adoption of new test equipment,” noted Cavazos. “Furthermore, the continuous change in consumer needs is adversely affecting the current and future inventory of test equipment products.”

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.


Suggested Items

Lab Tests Armored Vehicles with Auto Industry 'Dummies'

07/25/2016 | U.S. Army
In an unassuming warehouse on Aberdeen Proving Ground, Maryland sit nearly 50 men in uniform, waiting for their mission during an upcoming test event. They're sporting Army Combat Uniforms, standard-issue boots, a crane hook protruding from their heads, and a plethora of color-coded wires spilling out the back of their necks.

FLA Program Takes Flight

02/15/2016 | DARPA
They may not have zoomed flawlessly around obstacles like the Millennium Falcon did as it careened through the hull of a crashed Star Destroyer in Star Wars VII. But the sensor-loaded quadcopters that recently got tested in a cluttered hangar in Massachusetts did manage to edge their way around obstacles and achieve their target speeds of 20 meters per second.

Mr. Laminate Tells All: Who Would Like a Mil-Spec Audit?

01/05/2016 | Doug Sober, Essex Technologies Group
I remember when IPC-4101 was completed and released in December 1997 and the question came up “should IPC create a policeman program to enforce it?” To a person that helped create IPC-4101, absolutely no one wanted such an audit program ever again. Including me and the IPC staff liaisons. Maybe we should have rethought that position.

Copyright © 2018 I-Connect007. All rights reserved.