Global Automotive Predictive Maintenance Market Overview:
Predictive maintenance has a lot of potential in Industry 4.0, which emphasizes proactive maintenance to keep operations running smoothly. Predictive maintenance is impossible without regular monitoring of equipment in normal operating conditions to guarantee that they are being used to their full potential. It has also had an impact on the car sector, with engine performance, exhaust systems, gearbox operation, and structural stability all benefiting from vehicle predictive maintenance. Automotive predictive maintenance is especially important for optimizing engine performance since it analyses and predicts ambient conditions, fuel usage, and other variables for optimal performance.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Integration of big data and IoT in automotive predictive maintenance to manage downtime
Market Growth Drivers:
Increased focus on improving the operational efficiency of vehicles at optimum cost and Engine performance growing rapidly
Challenges:
Lack of skilled workforce for maintenance work
Restraints:
Threat of data security and privacy of organizations
Opportunities:
Rise in research & development activities by automotive predictive maintenance market players and Increasing number of automotive manufacturing companies
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Harman International Industries, Inc (United States), IMS (United Kingdom), Rockwell Automation, Inc. (United States), Delphi Technologies (United Kingdom), Siemens AG (Germany), IBM Corporation (United States), Microsoft Corporation (United States), Robert Bosch GmbH (Germany), SAP SE (Germany) and Teletrac Navman (United States). Analyst at AMA Research see Global Vendors to retain maximum share of Global Automotive Predictive Maintenance market by 2028. Considering Market by Component, the sub-segment i.e. Software (Standalone and Web-based) will boost the Automotive Predictive Maintenance market. Considering Market by End User, the sub-segment i.e. Individuals will boost the Automotive Predictive Maintenance market.
Latest Market Insights:
In December 2018, SAP SE launched a new software, SAP Intelligent Asset Management (IAM), which can provide predictive maintenance and asset intelligence for asset operation and maintenance.
In May 2019, BMW AG, a multinational manufacturer of automobiles, integrated the IBM Watson cloud platform into its vehicles through the creation of apps with predictive maintenance or advanced analytics based on vehicle tear and wear.
What Can be Explored with the Automotive Predictive Maintenance Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Predictive Maintenance Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Predictive Maintenance
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Predictive Maintenance market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Predictive Maintenance market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations, Automotive Predictive Maintenance Provider and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.