Acumen research and consulting estimates that the global integrated vehicle health management market is anticipated to reach market size of around US$ 30,000 Mn by 2027 and is anticipated to grow at a CAGR of around 12% in terms of revenue during the forecast period 2020 – 2027. An integral frameworks capacity for the assessment of the present or future conditions of the health framework and participate in the image of a health framework within the system of realistic assets and operational demand is integrated health system management (ISHM) or an integrated health facility management (ITFM). Model-based and information-driven analysis is used for IVHM applications with respect to inspiring processes.
The integrated automotive health management market is expected in the forecast period to be powered by growing numbers of coupled vehicles and rising knowledge of automotive health and safety. Although strongly driven by end users, IVHM is gradually being developing as a competitive proposal for aftercare providers to improve the cost-efficiency of the operation. An IV HM system requires the pro-active decision making capabilities of the sensor systems and thinking techniques. It contains systems on board and remotely and can be implemented in a range of configurations. Instead, the growth in the integrated vehicle health management market is restricted by an increase in unpredictable price for raw materials. The government has reduced investments in current technology to increase market share growth during the forecast year and invests in advanced technology.
Prognostics segment of integrated vehicle health management to grow at a significant rate during the forecast period.
The most rapidly growing segment of this market is estimated to be by value from 2019 to 2027. The change in this category may be due to advances in vehicle safety care, from conventional servicing to diagnostics and forecasts. Several OEMs worldwide now offer prognostic solution in various vehicle segments as a default or optional feature. Emerging and established players offer externally connected OBD II port devices with forecasting functions. Furthermore. Real-time forecast solutions, on the other hand, also become tractive. The growth of the market prognostic segment was all influenced by these factors.
The market research study on “Integrated Vehicle Health Management Market (By Health Management Type: Diagnostics, Prognostics; By Component: Software, Hardware; By Channel: OEM, Service Centre; By Vehicle Type: Light Duty Vehicle , Heavy Duty Vehicle) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global integrated vehicle health management market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global integrated vehicle health management market are health management type, component, channel, vehicle type, and major geographic regions. The integrated vehicle health management market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The largest integrated vehicle safety care market is expected in the Asian Pacific region by 2027. Growing medium-sized and luxury cars and a climate conducive to emerging firms have contributed to global market hegemony in the Asia-Pacific region. Furthermore, the boom in the supply chain and logistics sector on the road has helped to increase the market in Asia Pacific. In the forecast period, the European market is projected to grow at the highest CAGR. Europe has seen increased consumer demand for advanced technology in vehicles, which is the home of technologically advanced countries such as Germany, Great Britain and France. Regional OEMs facilitate and produce optimized strategies for automotive safety services as an add-on in economies and medium-sized vehicles. Eastern European countries, including Germany and the UK, are also members of the European Union.
Major players included in this report are Continental, Delphi Technologies, Robert Bosch, Garrett Motion, OnStar, Harman, Vector Informatik, Luxoft, Visteon, KPIT, and others.
The global integrated vehicle health management market is segmented as below:
Integrated Vehicle Health Management Market By Health Management
Integrated Vehicle Health Management Market By Type
Integrated Vehicle Health Management Market By Vehicle Type
Light Duty Vehicle
Heavy Duty Vehicle
Integrated Vehicle Health Management Market By Channel
Integrated Vehicle Health Management Market By Geography
Middle East & Africa
The increasing number of connected vehicles and growing stringency of vehicle emission and other regulations are expected to drive the growth of the integrated vehicle health management market.
The market value of integrated vehicle health management is anticipated to be around US$ 30,000 Mn in 2027.
It is anticipated to grow around 12% CAGR amid the forecast period.2020-2027
The key players operating in integrated vehicle health management market such as Continental, Delphi Technologies, Robert Bosch, Garrett Motion, OnStar, Harman, Vector Informatik, Luxoft, Visteon, KPIT, and others.
An increase in unpredictable price in raw material is a major factor expected to restraint the growth of the market
Europe is projected to grow at a fast pace during forecast period from 2020-2027.
Asia Pacific held maximum share in 2019.