Vehicle Health Management Systems
From a software perspective, vehicle health management systems are more than just algorithms, fault models or sensor processors. Understanding the concepts of integrated vehicle health management systems demands a common definition that captures all the facets of such systems. Vehicle health management systems are not supposed to be considered as standalone systems added onto a vehicle. While vehicle health management systems use algorithms, fault models or sensor processing software to perform their intended function, in reality, vehicle health management systems incorporate process, methodology, and philosophy that focus on the development and design of testability, reliability, maintainability, operability, and safety. In order to be the most effective, vehicle health management systems must be designed into vehicles and their supporting infrastructure at the beginning of the program. Ideally, vehicle health management systems encompass a set of activities that identify, eliminate, and resolve faults in vehicles.
Vehicle Health Management Systems: Market Drivers
There are various factors that drive the demand for vehicle health management systems. Fully functional autonomous vehicle health management systems can gain accurate information regarding the vehicle and function accordingly. This factor will enable the global vehicle health management systems market to grow during the forecast period. Vehicle health management systems offers features that are capable functioning efficiently for an extended time without any human intervention. Reduction of total maintenance expenditure is facilitated by vehicle health management systems as unnecessary maintenance is lowered. By incorporating vehicle health management systems, unscheduled maintenance can also be avoided. Vehicle health management systems enhance reliability by offering a more thorough understanding of the present health of the overall vehicle infrastructure. Such factors are expected to drive the global vehicle health management systems market.
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Vehicle Health Management Systems: Market Segmentation
On the basis of feature, the global vehicle health management systems market can be segmented into the following:
Professional vehicle health management systems include a diverse group of commercial and industrial grade features. Heath assessment feature currently holds the largest market share of the global vehicle health management systems market. Vehicle health management systems used for the purpose of prognosis assessment hold the second largest market share in the global vehicle health management systems market. However, vehicle health management systems technology integrated in vehicles for state detection are expected to generate the highest growth rate in the global vehicle health management systems market.
On the basis of application, the global vehicle health management systems market can be segmented as follows:
Currently, vehicle health management systems for personal vehicles are being continuously upgraded and other useful functional capabilities are being integrated into the autonomous vehicle health management systems technology. Among all the applications, vehicle health management systems for the aerospace domain are expected to register the highest growth rate during the forecast period.
On the basis of component, the global vehicle health management systems market can be segmented as follows:
Vehicle Health Management Systems: Regional Market Outlook
Among all the regions, North America holds the largest market share of the global vehicle health management systems market and is anticipated to maintain a steady growth rate over the forecast period. The growth of vehicle health management systems market in North America is attributed to the ever-rising trend of automation in the automotive industry. Increasing adoption of vehicle health management systems in the military sector is expected to provide a boost to the vehicle health management systems market in the region. The vehicle health management systems markets in Western Europe, and SEA and others of APAC regions are expected to be the most attractive during the forecast period. The demand for efficient and autonomous vehicular service in the industrial domain drives the vehicle health management systems market in those regions.
Vehicle Health Management Systems Market: Key Players
Few of the major players operating in the global vehicle health management systems market include, Rarestep, Inc. (Fleetio); Zubie, Inc.; Honeywell International Inc.; The Boeing Company; GPS Insight; Azuga; Omnitracs; and Telogis Fleet Management, among others.
The market report covers exhaustive analysis on:
Historical Actual Market Size, 2013 – 2017
Market Size & Forecast, 2018 to 2028
Supply & Demand Value Chain
Market Current Trends/Issues/Challenges
Competition & Companies involved
Market Drivers and Restraints
Regional analysis for the market includes development of these systems in the following regions:
Rest of Latin America
EU – 4 (Germany, France, Italy, Spain)
BENELUX (Belgium, Netherlands, Luxemburg)
NORDIC (Norway, Denmark, Iceland, Sweden)
Eastern Europe (Poland, Ukraine, Czech Republic, etc.)
Rest of Europe
CIS & Russia
Rest of APEJ
Middle East & Africa
Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Market Report Highlights:
Detailed overview of parent market
Changing market dynamics of the industry
In-depth market segmentation
Historical, current and projected market size in terms of value
Recent industry trends and developments
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint