Expert Market Research’s new report titled ‘Global Integrated Vehicle Health Management Market Share, Size, Growth, Trends, Price, Report and Forecast 2021-2026’, gives an in-depth analysis of the global vehicle health management market. integrated vehicle health management, assessing the market based on its segments such as health management, type, vehicle type, channel and major regions.
The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): $12 billion
- Forecast CAGR (2021-2026): 13%
- Forecasted Market Size (2026): $25 billion
Consumer demand for safer and smarter vehicles is expected to drive the growth of the integrated vehicle health management market over the forecast period. Integrated automotive health management systems are driven by technical advances in vehicle communication and diagnostic systems.
Furthermore, growing demand for connected and IoT-enabled vehicles for greater consumer convenience is another key driver expected to drive substantial growth of the global integrated vehicle health management market in the coming years.
Industry definition and major segments
Integrated System Health Management (ISHM) or Integrated Vehicle Health Management (IVHM) is the ability of systems to determine the current or potential state of component frame health and participate in the picture executive health within a system with realistic assets and operational demand. In terms of the empowerment process, IVHM implementations have used both pattern-based and information-based thinking.
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The market is split based on Health Management into:
By Type, the market is split into:
The market is segmented on the basis of vehicle type into:
- Light vehicle
- heavy vehicle
The market is categorized based on channels into:
Based on regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
4 Latin America
5 Middle East and Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
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In the coming years, the integrated automotive health management market is expected to be fueled by an increasing number of coupled vehicles and rising concerns regarding vehicle safety and health. Although decided entirely by end users, IVHM helps to improve the affordability of supply and maintenance activities; IVHM is increasingly becoming a strategic opportunity for organizations specializing in monitoring.
An IVHM architecture would use a synergistic combination of reasoning strategies and sensor technology to provide constructive decision-making capability. However, the demand for integrated vehicle condition management will be limited by these costs and the unpredictability of the raw content. The government has reduced the demand for existing innovation and invested in trending innovation to increase the market share in the coming years.
During the forecast period, the European market is expected to grow at the fastest CAGR. Consumer demand for advanced technology in vehicles has increased in Europe, which is home to technologically advanced countries such as Germany, UK and France. OEMs in the region are promoting and providing integrated vehicle health management systems as an optional feature in small and midsize vehicles. Eastern European countries, as members of the European Union, are catching up with technologically advanced countries like Germany and the United Kingdom.
Main market players
Major market players are Onstar, Vector Informatik, Delphi Technologies, Garrett Advancing Motion, Harman International, Visteon Corporation [NASDAQ: VC]Kpit Technologies, among others.
The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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