Vehicle Health Monitoring Market 2021-2027; Growth Forecast & Industry Share Report

Europe vehicle health monitoring market may display high growth in the next six years. The growth in the regional market will be attributed to rising demand for commercial vehicles in the region. As per International Organization of Motor Vehicle Manufacturers, Germany recorded a rapid increase in the sales of commercial vehicles from 386.2 million units in 2018 to 409.8 million units in 2019. Vehicle diagnostics for commercial vehicles helps in reducing the maintenance cost and downtime of the vehicle. It also helps in improving the efficiency and reliability of various vehicle components, thereby contributing to escalating market growth.
Rapid rise in aftermarket automotive diagnostics tools demand is likely to create a significant impact on the global vehicle health monitoring market trends over the estimated timeframe. These systems can identify defects and the performance of several vehicle components.
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Global manufacturers are placing high emphasis on the delivery of high-end luxury vehicles, thereby leading to a considerable increase in the adoption of vehicle health monitoring devices. Furthermore, preventive maintenance of vehicles against potential major auto repairs, alongside the growing penetration of the internet in countries like Italy, India, and the UAE, will boost market expansion in years to come.
The industry has been observing strong demand for electric vehicles worldwide. Rising number of OEMs, along with the shifting preferences of automobile manufacturers to new technologies, will assert positive affluence in the market expansion over the coming years.
In terms of segmentation by component, the global vehicle health monitoring market from the software segment will exhibit a steady growth rate in the foreseeable future., This is attributable to the escalating need for ADAS systems and other robust software solutions to aid the deployment of the vehicle health monitoring solutions.
The competitive landscape of the vehicle health monitoring market consists of companies such as Intangles Lab Private Limited, Garrett Advancing Motion, Vector Informatik, Harman International, OnStar, Luxoft, Octo Group S.p.A., iotaSmart Labs, Delphi Technologies, KPIT, Robert Bosch, Continental, Zubie, and Visteon Corporation, among others. These companies are focusing on new product launches, business expansions, and other strategies to increase their presence across the globe.
To illustrate, in June 2020, Ford Commercial Solutions launched a web-based software platform, Ford Telematics™, designed to help commercial vehicle customers obtain live vehicle health alerts to limit downtime, monitor their fleets with geofencing and GPS tracking, analyze drivers’ behavior, set reminders for the vehicle service, and manage fuel usage to lower costs.
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Partial Chapter of the Table of Content
Chapter 6   Vehicle Health Monitoring Market, By Health Management
6.1    Key trends, by health management
6.2    Prognostics
6.2.1    Market estimates and forecast, 2018 – 2027
6.3    Diagnostics
6.3.1    Market estimates and forecast, 2018 – 2027
Chapter 7   Vehicle Health Monitoring Market, By Vehicle Type
7.1    Key trends, by vehicle type
7.2    Passenger
7.2.1    Market estimates and forecast, 2018 – 2027
7.3    Commercial
7.3.1    Market estimates and forecast, 2018 – 2027
Chapter 8   Vehicle Health Monitoring Market, By Sales Channel
8.1    Key trends, by sales channel
8.2    OEM
8.2.1    Market estimates and forecast, 2018 – 2027
8.3    Aftermarket
8.3.1    Market estimates and forecast, 2018 – 2027
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