Introduction
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.
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The upcoming automotives would be abreast with HWW (Health, Wellness, and Wellbeing) features in the wake of healthcare being the top priority. So, it could be inferred that apart from going “green”, they would be going “pink” as well. The car’s parts would be revisited with the objective of keeping the occupants of vehicle healthy and safe.
There are environmentally-friendly regulations being laid down, which ask for circular economy, i.e. ideas of recycling and reusing would be put into practice in the near future. These trends in the automotive vertical along with insights have been constructively captured by the analysts and consultants in Persistence Market Research.
Global Commercial Vehicle Prognostic System Market: Dynamics
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.
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Global Commercial Vehicle Prognostic System Market: Segmentation
Commercial vehicle prognostic systems can be segmented on the basis of system type, sales channel and region.
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| basis of sales channel |
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Global Commercial Vehicle Prognostic System Market: Regional Outlook
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.
Global Commercial Vehicle Prognostic System Market: Key Players
Some of the key players identified across the commercial vehicle prognostic system market are:
- Open Text
- Lochbridge
- Teletrac Navma
- OnStar
- Pivotal Software
- Omnitracs
- Ridgetop Group
- Trimble
- National Instruments
- IJet Technologies
- Hortonworks DataRPM
- Telogis
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