The global integrated vehicle health management market size is expected to reach USD 16.71 billion in 2024 and is anticipated to reach USD 28.73 billion by 2029 growing at a CAGR of 11.45% during the forecast period 2024 to 2029.
Integrated system health management (ISHM) or Integrated vehicle health management (IVHM) is the incorporated limit of structures to evaluate the present or future state of the part structure health and partake with the image of system health inside a system of practical resources and operational interest. Regarding the engaging frameworks, both model-based and data-driven reasoning has been used in IVHM applications.
The expanding number of connected automobiles and developing stringency of vehicle discharge and different guidelines are driving the market for coordinated vehicle health management. The coordinated automobile health management market has made new opportunities for partners. Automobile health management information would help new plans of action, and OEMs can expand their control on necessary vehicle information by supplanting the OBD port with OEM back-end server centers. An increasing number of coupled vehicles and uncovering issues about vehicle security and health are foreseen to fuel the integrated vehicle health management market in the forecast period.
A developing number of coupled vehicles and bringing issues to light about vehicle health and security are anticipated to drive the global integrated vehicle health management market during the estimated time frame. Albeit determined by end-client powers to advance the cost-viability of upkeep and provision exercises, IVHM is, in effect, progressively created as a dangerous proposition for aftercare specialist organizations. An IVHM framework will incorporate a synergistic arrangement of sensor innovations and thinking systems, embraced to the arrangement of proactive choice decision supportability. It will contain a ready and remote course of action framework and can be acted in a differing scope of methods. The legislature has diminished the interest in real innovation and put resources into advanced innovation to expand the development of market share during the conjecture time frame.
Then again, an expansion in the flighty cost of crude material will confine the development of the coordinated vehicle health management market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
11.45% |
Segments Covered |
By Health Management Type, Type, Application, Vehicle Type, and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Continental (Germany), Visteon (US), Robert Bosch (Germany), OnStar (US), Delphi Technologies (UK), Garrett Motion (Switzerland), and Others. |
Prognostics is anticipated to be the quickest expanding fragment of the coordinated vehicle health management market from 2018 to 2026. The development of this portion can be credited to the advancement of vehicle health management from conventional support to diagnostics and prognostics. Some OEMs over the globe presently offer prognostics arrangements as default or discretionary elements in different vehicle portions. Nonetheless, constant prognostics arrangements are likewise getting a footing. Every one of these elements has added to the improvement of the prognostics section of the coordinated vehicle health management market.
Software is evaluated to be the quickest developing section, by esteem, of the integrated vehicle health management market from 2019 to 2027. The development of this portion can be ascribed to the expanding utilization of electronic control units (ECU) inside the vehicle. ECUs are worked by programming lines of codes. The pattern is developing at a noteworthy pace and is driving the market for the software portion of the incorporated vehicle health management market.
Light-duty vehicles are assessed to hold the most significant piece of the overall industry. The rising interest in connected vehicle features in passenger vehicles and the reception of electronically operated cutting-edge innovations are required to drive market development in this sector. OEM's push towards offering propelled applications and health management solutions to handle powered requests has helped the interest in the integrated vehicle health management business. Expanding manufacturing of the economy and good-sized vehicles is probably going to drive the market for integrated vehicle health management in the automobile sector.
The European integrated vehicle health management market is assessed to develop at the most elevated CAGR during the gauge time frame. In the previous scarcely any years, the commitment of Eastern Europe has expanded in the European car industry. Individuals in the European area are progressively requesting continuous arrangements that can monitor, identify, and examine the issues in the vehicle. Nonstop ascent in connected vehicles and vehicle guidelines, for example, NCAP appraisals, emission standards, and gauges on the utilitarian security of vehicle parts are a portion of the components driving the market for integrated vehicle health management in Europe. Asia Pacific is anticipated to be the biggest market for integrated vehicle health management in 2027. Expanding deals of average size and extravagance vehicles and good conditions for developing organizations have prompted the predominance of the Asia Pacific area in the worldwide market. Furthermore, the blast in the on-street supply chain and logistics area has likewise added to the development of the Asia Pacific market.
Key players operating in the global Integrated Vehicle Health Management Market are Continental (Germany), Visteon (US), Robert Bosch (Germany), OnStar (US), Delphi Technologies (UK), Garrett Motion (Switzerland). These are the market players dominating the global integrated vehicle health management market.
RECENT HAPPENINGS IN THE GLOBAL INTEGRATED VEHICLE HEALTH MANAGEMENT MARKET
By Health Management Type
By Type
By Application
By Vehicle Type
By Region
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