Commercial Vehicle Prognostic System Market Segmented By system type such as Weather prognostic system, Traffic prognostic system.
Industry: Automotive
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP21172
Commercial vehicle prognostic systems are used to calculate the failure time for various systems and their components. Here, failure signifies the point at which a system can no longer be used to deliver the desired task or performance.
Moreover, commercial vehicle prognostic has been a new area of development in telematics over the years. Commercial vehicle prognostic systems are capable of communicating the cause problem of any vehicle system and propagate upstream and downstream effects across a vehicle system.
Automotive manufacturers, such as Volvo, provide an open platform that can be used to develop telematics solutions for different stakeholders. They have also offered some of the application interfaces from their solution, which can be utilized by other vendors to develop telematics solutions. Tracking a vehicle using GPS has now become a traditional application of telematics.
However, with technological advancements in data analytics and cloud technology, it is possible to detect every component of the vehicle. Commercial vehicle prognostic systems have wide applications. They are used to observe driving behavior, fleet management and prognostics. The use of better technology and improved transmission design will help in attaining better mileage and fuel efficiency.
The advancement of next-generation telematics protocol is one of the key trends that will contribute to commercial vehicle prognostic system market growth over the years. Some of the telematics service vendors, such as Connexions, WirelessCar (Volvo) and BMW, have already developed a standardized platform called Next-Generation Telematics Protocol (NGTP).
This flagged the way for the designing of more scalable and flexible telematics systems. The implementation of next-generation telematics protocols by telematics service providers will help in offering cost-effective telematics solutions to customers for making useful additions to the present telematics practices in the commercial vehicle prognostic system market. This ongoing trend related to prognostic systems will raise the demand for commercial vehicle prognostic systems in near future.
The problem associated with commercial vehicle prognostic systems is that only a few systems of a vehicle, such as tires and engine, can be prognosed. Furthermore, for completion of prognosis, the full system must link with the electronic interface. Such factors will hamper the market growth of the commercial vehicle prognostic system market.
Commercial vehicle prognostic systems can be segmented on the basis of system type, sales channel and region.
| basis of system type |
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| basis of sales channel |
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| basis of region |
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North American countries, such as United States and Canada, with their developed automotive industry represent prominent regional markets. Moreover, the growth of the market in this region can mainly be attributed to high adoption of telematics in commercial vehicles and continuous progress and adoption of new business models.
Increasing demand for safety, navigation and comfort is escalating the adoption rate of electrical distribution systems in commercial vehicles. On the basis of these factors, the US is estimated to witness hefty market growth in the commercial vehicle prognostic market.
Welfares associated with commercial vehicle prognostics, such as cost saving and high reliability, will fuel the demand for these systems in the European market. Developing OEM production in Asia-Pacific is expected to gain high market growth over the coming years.
The sales of vehicles has been going up since past few years in Asian countries. Latin America is estimated to register steady growth in the commercial vehicle prognostic market over the forecast period. Middle East and Africa’s fast-growing aftermarket sales channel will let commercial vehicle prognostic market grow with significant CAGR.
Some of the key players identified across the commercial vehicle prognostic system market are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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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