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 industry, however, encountered huge challenges during the 1^st half of 2020, due to the rapid spread of coronavirus across the globe. The imposition of strict restrictions on domestic as well as international trade by governments also has led to a considerable drop in vehicle sales. Despite these challenges, the vehicle health monitoring industry is anticipated to regain traction by 2021, owing to the economic revival and virus containment.

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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.

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.

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 global vehicle health monitoring market size is projected to surpass $55 billion by 2027.

On the regional front, the Europe vehicle health monitoring market is slated to witness a major upsurge, as a result of high consumers’ preference for commercial vehicles in the region. As per the International Organization of Motor Vehicle Manufacturers, Germany witnessed a rapid surge in commercial vehicle sales from 386.2 million units to 409.8 million units, in 2018 and 2019 respectively. Other advantages of vehicle diagnostics for these commercial vehicles include the reduction of maintenance costs and downtime as well as the improvement of efficiency and reliability of the components.

On the other hand, the Asia Pacific and North America vehicle health monitoring markets will also emerge as key revenue pockets due to the accelerating demand for GPS systems.

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.

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Some Point from Table of Contents:

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

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