May 8, 2020
— Global Integrated Vehicle Health Management Market was valued US$ 10.61 Bn in 2018 and is expected to reach 27.56 Bn by 2026, at a CAGR of 14.61 % during a forecast period.
Global Integrated Vehicle Health Management Market: Overview
Integrated vehicle health management (IVHM) or integrated system health management (ISHM) is the integrated capability of systems to evaluate the current or future state of the member system health and participate that picture of system health within a framework of obtainable resources and operational demand. About the enabling techniques, both model-based and data driven reasoning have been used in IVHM applications.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Integrated Vehicle Health Management Market: Drivers and Restraints
A growing number of coupled vehicles and raising awareness about vehicle health and safety are projected to drive the integrated vehicle health management market during the forecast period. Although significantly driven by end-user, forces to progress cost-effectiveness of maintenance and provision activities, IVHM is being gradually developed as a competitive proposal for aftercare service providers. An IVHM system will include synergistic placement of sensor technologies and reasoning techniques, undertaken to the provision of a proactive decision support capability. It will contain on board and remote arrangement systems and can be performed in a diverse range of configurations.
On the other hand, an increase in unpredictable price in raw material will restrict the growth of the integrated vehicle health management market. The government has decreased the investment in existing technology and invest in advanced technology to increase the growth of market share during the forecast period.
Global Integrated Vehicle Health Management Market: Segment Analysis
Prognostics is projected to be the fastest increasing segment of the integrated vehicle health management market from 2018 to 2026. The growth of this segment can be credited to the development of vehicle health management from traditional maintenance to diagnostics and prognostics. Some OEMs across the globe now offer prognostics solution as a default or optional feature in various vehicle segments. Outwardly linked OBD II port devices offered by developing and well-known players are also furnished with prognostics features. However, real-time prognostics solutions are also getting traction. All these factors have contributed to the development of prognostics segment of the integrated vehicle health management market.
Global Integrated Vehicle Health Management Market: Regional Analysis
In geographical area, the European integrated vehicle health management market is projected to grow at the highest CAGR (XX %) during the forecast period. Europe, which is home to technologically innovative countries such as Germany, UK, and France, has observed to increase the consumer demand for advanced technology inside vehicles. OEMs in the region are endorsing and offering integrated vehicle health management solutions such as add-on feature in the economy and mid-sized vehicles.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global Integrated Vehicle Health Management market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence.
To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Integrated Vehicle Health Management market.
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