Global vehicle health monitoring market is anticipated to depict a CAGR of 9% through 2027, having recorded a valuation of USD 32 billion in 2020. By 2027, the market is expected to hit a remuneration of USD 55 billion

Burgeoning demand for automotive aftermarket diagnostics tools is expected to support vehicle health monitoring market expansion in the years to come. Consumers are steadily gravitating towards high-end luxury vehicles. They are taking preventive measure to avoid unexpected vehicle breakdowns by undertaking regular vehicle maintenance. As today’s vehicle comprise of a complex hardware and software components, their maintenance could be quiet challenging.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/5016

Using vehicle health monitoring systems, users can obtain both historic and real-time data that can significant help reduce the chances of on-road break-down by earlier diagnostics as well as help deliver warnings/alerts of possible failures. Monitoring of vehicle parameters can also increase operational hours and lower maintenance costs. 

The COVID-19 pandemic has severely impacted the vehicle health monitoring market in the first and second quarter of 2020. Lockdowns and restrictions imposed by governments on domestic and international trade have affected the sales of automotive products heavily. However, the market is projected to grow slowly in the year 2021 and will showcase growth as things are getting back to normal.

The 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.

The key players operating in the market such as iotaSmart Labs, Delphi Technologies, OnStar, Luxoft, Continental, Robert Bosch, KPIT, Harman International, Garrett Advancing Motion, Zubie, Octo Group S.p.A., Visteon Corporation, Vector Informatik, and Intangles Lab Private Limited. Businesses are focusing on expanding their service offerings to aftermarket service providers and OEMs. For instance, in June 2020, first predictive maintenance software was delivered by Garrett to its various commercial vehicle fleet executives. The company has developed EWS (Garrett Early Warning System) software with prominence on the integration of AI in this aftermarket tool.

Get this report Customized to your requirements @    https://www.decresearch.com/roc/5016

Some Point from Table of Contents:

Data Tables

TABLE 1    Global vehicle health monitoring industry 360º synopsis, 2018 - 2027

TABLE 2    Global vehicle health monitoring market, 2018 - 2020 (USD Million)

TABLE 3    Global vehicle health monitoring industry, 2021 - 2027 (USD Million)

TABLE 4    Global vehicle health monitoring industry, by component, 2018 - 2020 (USD Million)

TABLE 5    Global vehicle health monitoring industry, by component, 2021 - 2027 (USD Million)

TABLE 6    Global components for vehicle health monitoring market, by hardware, 2018 - 2020 (USD Million)

TABLE 7    Global components for vehicle health monitoring industry, by hardware, 2021 - 2027 (USD Million)

TABLE 8    Global vehicle health monitoring industry, by health management, 2018 - 2020 (USD Million)

TABLE 9    Global vehicle health monitoring industry, by health management, 2021 - 2027 (USD Million)

TABLE 10    Global vehicle health monitoring market, by vehicle type, 2018 - 2020 (USD Million)

Browse complete Table of Contents (ToC) of this research report @

https://www.decresearch.com/toc/detail/vehicle-health-monitoring-market