A12182 | Pages: NA | Jul 2022 | 1202 Views | ||
Author(s) : Sonia Mutreja | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !Integrated Vehicle Health Management Market Outlook 2030 -
Integrated vehicle health management system is used in various vehicles to carefully monitor, identify, and analyse various vehicle systems to predict the health conditions of the vehicle in order to avoid sudden failures. Furthermore, the system requires pro-active decision-making capabilities of sensor system and thinking techniques. It contains systems on-board and remotely which can be implemented in a range of configurations. The evolution of vehicle’s health management from traditional maintenance to diagnostics and prognostics is responsible for the segment’s growth. Moreover, several OEMs around the world are offering prognostics as a standard or optional feature in various vehicle segments. Emerging and establishes player in this market are currently offering both externally connected on-board diagnostics port devices with prognostics features and real-time prognostics solutions. The companies are concentrating on commercialization of integrated vehicle health management system in the light vehicles which will help in better and faster monitoring of vehicle’s health conditions.
Market Scope and Structure Analysis:
Report Metric | Details |
Market size available for years | 2020–2030 |
Base year considered | 2020 |
Forecast period | 2021–2030 |
Forecast units | Value (USD) |
Segments covered | Type, Component, Vehicle Type, Channel, and Region |
Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
Companies covered | Delphi Technologies, GARRETT MOTION INC., General Motors LLC, Vector Informatik GmbH, HARMAN International, Visteon Corporation, Verizon, ZUBIE INC., Robert Bosch GmbH, and Continental AG |
COVID-19 Impact Analysis:
The integrated vehicle health management system market was adversely impacted during the first three quarters of 2020 owing to the emergence of COVID-19 pandemic. Government of major countries imposed various restrictions such as lockdown, mass quarantines and travel restrictions which affected the industry statistics of vehicle health monitoring systems on a large scale. Moreover, the manufacturing of vehicles was halted due to the pandemic which further disrupted the integrated vehicle health management system market. Due to the restrictions, there was shortage of raw materials and labour which resulted in numerous problems in the design and development of new systems. Furthermore, it created an extensive gap in demand and supply, affecting the industry revenue for manufacturers. Furthermore, rising financial insecurities among end-users hampered the sales of passenger and commercial vehicles and influenced the industry in 2020.
Top Impacting Factors
Market Trends
Rise in usage of integrated vehicle health management systemin light duty vehicle
Light duty vehicle is estimated to hold the largest market share for vehicle health management system. The rising demand for connected features in vehicles, electronic sensors, and adoption of advanced technologies are expected to drive the market growth. Original Equipment Manufacturers (OEMs) push towards offering advanced application and health management solution in economy and mid-sized luxury vehicles has boosted the demand for integrated vehicle health management system. For instance, new car assessment program (NCAP) in Europe is stagnating vehicle norms related to driver safety by driver assistance system. Moreover, European Union has made safety requirement mandatory in vehicles. All these factors will drive growth of the integrated vehicle health management system market.
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Questions answered in the integrated vehicle health management market research report:
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