Integrated Vehicle Health Management Market
Integrated Vehicle Health Management Market by Health Management Type (Diagnostics, Prognostics), by Component (Software, Hardware), by Channel (OEM, Service Center), by Regions (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
|Integrated Vehicle Health Management Market Forecast Year:||2022 - 2028|
|Integrated Vehicle Health Management Market Historical Year:||2016 - 2021|
|Integrated Vehicle Health Management Market 2021:||USD 12.83 billion|
|Integrated Vehicle Health Management Projected Market 2028:||USD 30.84 billion|
|Integrated Vehicle Health Management Market CAGR:||11.8%|
|Fastest Growing Region:||Asia Pacific|
|Largest Region:||North America|
Integrated Vehicle Health Management Market: By Health Management, Component, Channel, Electric Vehicle Health Management, and Region
Global Integrated Vehicle Health Management market is valued at USD 12.83 billion in 2021 and is expected to reach USD 30.84 billion by 2028 at CAGR of 11.8% during the forecast period, 2021–2028. Integrated Vehicle Health Management (IVHM) is a concept that can be defined as an integrated set of capabilities for monitoring, understanding, predicting and analyzing health events on transport systems. The IVHM approach allows stakeholders - which include passengers, operators, regulators or manufacturers - to monitor the operational state of the vehicle along with factors affecting it. This information can be used by stakeholders throughout the life cycle of a vehicle in order to enable preventive maintenance measures and enhance operational safety. At present there exists no single standardized approach in the domain of IVHM, but various initiatives have been taken at European level in order to address this challenge.
Integrated Vehicle Health Management Market is segmented on the basis of, health management, component, channel, electric vehicle health management, and region. On the basis of health management, market is split into diagnostics and prognostics. On the basis of component, market is split into software and hardware. On the basis of channel, market is split into OEM and service center. On the basis of electric vehicle health management, market is split into diagnostics and prognostics.
Below tree is interactive. You can click the nodes to get more information.
Growth of IVHM Solutions Will be Driven by Government Regulations, Safety Concerns, Pressure on Fuel Costs, Advances in Technology, and Optimal Maintenance Practices
The demand for improved vehicle health management solutions will arise mostly due to the pressure exerted by government regulations in order to improve safety measures in transportation systems. Improved efficiency in healthcare practices will also lead to increased demand for IVHM technologies. Another factor that may boost the growth of IVHM technologies is their ability to help optimize preventive maintenance practices so as to maximize uptime and reduce operation costs.
The major factors that are expected to inhibit the growth of the IVHM solution space include law enforcement concerns regarding use of EDRs and privacy issues, as well as a lack of standardization in the industry.
Demand for Integrated Vehicle Health Management to Remain High in Light Duty Vehicle
Light duty vehicles across the globe are subject to strict regulation controlling fuel consumption and CO2 emissions in order to reduce greenhouse gas (GHG) emissions. This regulation is focused mainly on reducing tailpipe emissions by making vehicle manufacturers implement technologies able to clean exhaust gases after combustion within the engine. However, since 1990s there has been increasing concern due to so-called “off-cycle” emissions of hydrocarbons (HC), carbon monoxide (CO), nitrogen oxide (NOx) and particulate matter (PM). Off cycle emissions are all emissions of toxic compounds during engine operation that occur outside of the traditional engine cylinder and spark event.
The regulation has been growing stricter year by year to reduce off cycle emissions as well. In order to meet the increasingly strict standards, manufacturers have been equipping vehicles with new technologies such as exhaust treatment systems, oxidation catalysts and diesel particulate filters (DPF). These technologies are also called after-treatment devices because they treat tailpipe emissions after combustion takes place inside the engine cylinders.
North America is Dominating the Integrated Vehicle Health Management Market
In terms of regions, North America currently holds a dominant position within the global IVHM market due to a large number of countries such as Canada, Mexico and the U.S. implementing stringent rules and regulations governing driver behavior. This growth can be attributed to factors, such as increased focus on preventive maintenance in order reduce the downtime of vehicles; reduced warranty costs with improved reliability in new products; and need for improved fuel efficiency & emission control with increased safety regulations worldwide. North America and Europe are the major markets for integrated health management systems (IHMSs) due to the presence of a large number of automotive original equipment manufacturers (OEMs), demanding highly-advanced solutions. The Asia-Pacific market is expected to witness the highest growth rate during the forecast period, attributed to factors, such as increasing demand for eco-friendly vehicles, stringent emissions regulations in countries such as India and China, sales volume increase in emerging markets such as Thailand, Malaysia, Indonesia, Vietnam & Bangladesh, favorable government initiatives to boost automotive industry growth across Southeast Asian countries including Indonesia & Thailand, high disposable income resulting in increased vehicle ownership rates across these countries , rise in demand for connected cars services ,and development of infrastructures such as expressways and highways to support vehicle movement.
Some of the key players in the global Integrated Vehicle Health Management market are Robert Bosch (Germany), Continental (Germany), Garrett Motion (Switzerland), Delphi Technologies (UK), KPIT (India), and OnStar (US).
Market Size Provided for Years
Region & Counties Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
The Integrated Vehicle Health Management is Segmented as Follows:
Frequently Asked Questions
the global demand for Integrated Vehicle Health Management
in terms of revenue?
The global Integrated Vehicle Health Management valued at USD 12.83 billion in 2020 and is expected to reach USD 30.84 billion in 2028 growing at a CAGR of 11.8%
are the prominent players
in the market?
The prominent players in the market are Robert Bosch (Germany), Continental (Germany), Garrett Motion (Switzerland), Delphi Technologies (UK), KPIT (India), and OnStar (US)..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 11.8% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Integrated Vehicle Health Management include
- Increasing Number of Connected Vehicles
region accounted for the
largest share in the market?
North America was the leading regional segment of the Integrated Vehicle Health Management in 2020.