Investment In Vehicle Development: Driving Transformation In Israel Automotive Industry

By Goldstein Market Intelligence || 2019-01-08 8:03:25 AM

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According to Goldstein Research, “Israel is becoming attractive market for automakers with the implementation of innovative technology and wide adoption of electric cars, autonomous vehicles and smart mobility. Israel is niche market in automotive technologies mainly in navigation, automation and collision avoidance technologies. Automotive manufacturers are continuously investing in Israeli firms and start-ups to develop advance solutions for automotives which is driving the growth of Israel automotive market.”

Israel Automotive Industry Overview

Israel automotive market is segmented on the basis of types of vehicles and fuel type. Types of vehicles segment is further categorized into passenger vehicles, autonomous cars, utility and light commercial vehicles and medium and heavy commercial vehicles. In 2016, total commercial vehicles sales were reported at 15,800 units in Israel. Electric cars are gaining huge popularity owing to its eco-friendly and fleets controlling nature. Over 60% of cars sold annually in Israel majorly go to commercial fleets.

Israel automotive industry is projected to reach 21.8 billion in 2024, growing at a notable CAGR during the forecast period. Israeli government are taking initiatives to bring new business prospects for automotive industry. In 2015, Israeli government partnered with the U.S. Transportation Department for the examination and safe deployment of autonomous vehicles.

Transport and Automotive Start-ups: Expanding Israel Autonomous Cars Business

Israel is a leading nation for start-up companies which are expanding their business into artificial intelligence, 3D sensing, machine learning and neuroscience which are likely to play an important role in the development of automotive technologies. Israeli automotive firms are continuously focusing for the development of technologies for autonomous cars which is supported by the investment from leading automakers. For instance, General Motors invested in two Israeli start-ups named Powermat and Sital for diversifying the solutions for automonous cars. Moreover, Argus Cyber Security are offering anti-hacking technology for connected vehicles whereas Otonomo provides solutions which collects data from connected vehicles in order to assist the drivers. Such investments are expected to bring considerable prospects for the Israel automotive sector in the near future.

Israel Automotive Market report by Goldstein Research contains detailed overview of the Israel Automotive Market in terms of market segmentation by types of vehicles and by fuel type.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

The report  also provides competitive outlook of some of the major players of Israel Automotive Market which includes profiling of companies such as General Motors, Arbe Robotics, Ford Motor Company, Toyota, Hyundai, Volkswagen, Daimler, Bosch, Autoliv, Brose Fahrzeugteile GmbH & Co. KG, GETRAG, TRW Automotive, Mitsbushi, Groupe PSA, Valeo, Autotalks, Argus Cybersecurity, Cognata, Cortica, Renault-Nissan, Automotive Industries, Ltd., Softwheel, Aquarius, Autocars Co. Ltd., Haargaz Group, Merkavim Transportation Technologies Ltd, Plasan and Qoros Auto Co., Ltd. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the Israel Automotive industry that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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