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Integrated Vehicle Health Management Market Trends

  • Report ID: GMI9914
  • Published Date: Jun 2024
  • Report Format: PDF

Integrated Vehicle Health Management Market Trends

The integration with connected vehicle ecosystems is one of the trends in the integrated vehicle health management industry. IVHM systems are becoming integral components of broader connected vehicle ecosystems, including automotive Vehicle-to-Everything (V2X) communication networks. There is a growing trend toward personalized IVHM solutions tailored to the specific needs of different types of vehicles and fleet operations. There is also a trend toward developing more intuitive and user-friendly interfaces for IVHM systems to facilitate easier use and better adoption among vehicle operators.
 

IVHM systems are being designed to support sustainability by optimizing vehicle operations and reducing emissions through better maintenance practices. Mobile apps are being developed to provide vehicle owners and fleet managers with real-time access to vehicle health data and alerts, making it easier to monitor and manage vehicle health. AI-driven predictive analytics are being used to analyze historical and real-time data to predict and prevent potential failures, improving reliability and reducing maintenance costs. IVHM systems are being integrated with telematics to provide a holistic view of vehicle health, driver behavior, and operational efficiency, thereby enhancing the overall fleet management.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of integrated vehicle health management reached USD 16.7 billion in 2023 and is set to witness over 10% CAGR from 2024 to 2032, owing to the advancement in predictive maintenance technologies, rising demand for autonomous vehicles, and increased adoption of IoT worldwide.

Integrated vehicle health management industry from the hardware segment crossed USD 6 billion in 2023, due to the rise of Electric Vehicles (EVs) driving demand for specialized hardware.

North America market held over 37% share in 2023, attributed to the presence of numerous leading automotive manufacturers and technology providers in the region.

Hitachi, Ltd., Honeywell International Inc., KPIT Technologies Limited, Robert Bosch GmbH, Siemens AG, Vector Informatik GmbH, Verizon Connect (Verizon), Visteon Corporation, and ZF Friedrichshafen AG, are some of the major integrated vehicle health management companies worldwide.

Integrated Vehicle Health Management Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 290
  • Countries covered: 25
  • Pages: 265
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