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:

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

• Rise in usage of integrated vehicle health management system in light duty vehicle, rise in disposable income of people, and rise in vehicle health and safety is expected to drive growth of the market.
• However, lack of awareness about integrated vehicle health management system and high cost associated with the systems can hamper growth of the market.
• Moreover, rise in number of coupled vehicles, rise in advancement of technologies, and rise in production of economy and mid-sized vehicle acts as an opportunity for growth of the market.

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.

Key Segments Covered:

Key Benefits of the Report:

• This study presents the analytical depiction of the integrated vehicle health management market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the integrated vehicle health management market.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the integrated vehicle health management market growth scenario.
• The report provides detailed integrated vehicle health management market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the integrated vehicle health management market research report:

• Which are the leading market players active in the integrated vehicle health management market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the integrated vehicle health management market?
• What are the projections for the future that would help in taking further strategic steps?