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Global Heavy-duty Trucks On-board Diagnostics System Market 2019-2023| Rise in the Adoption of Prognostic Systems to Boost Growth| Technavio

December 19, 2019 GMT
Global Heavy-duty Trucks On-board Diagnostics System Market 2019-2023| Rise in the Adoption of Prognostic Systems to Boost Growth| Technavio
Global Heavy-duty Trucks On-board Diagnostics System Market 2019-2023| Rise in the Adoption of Prognostic Systems to Boost Growth| Technavio

LONDON--(BUSINESS WIRE)--Dec 19, 2019--

The heavy-duty trucks on-board diagnostics system market is poised to grow at a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global heavy-duty trucks on-board diagnostics system market 2019-2023. (Graphic: Business Wire)

Solutions such as fleet management are witnessing a growing demand across the world. Also, the need for navigation, safety, comfort, and content is pushing the adoption of electrical distribution systems in vehicles. Government regulations are also forcing the deployment of a minimum level of advanced driver assistance system (ADAS) in commercial vehicles. The commercial vehicle industry is experiencing an increased adoption of electronic content due to the electrification of mechanical components, thus fueling the need for advanced assistance system for optimization. Such developments support the fact that vehicular systems have software implemented for the functioning of the systems, thereby making such vehicles compatible with technologies such as on-board diagnostics systems.

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As per Technavio, the rise in the adoption of prognostic systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Heavy-Duty Trucks On-Board Diagnostics System Market: Rise in the Adoption of Prognostic Systems

The growing requirement for operational efficiency and cost savings is fueling the adoption of prognostic systems among fleet operators. Prognostic systems predict the failure time for vital vehicle components or systems. Hence, the prognostic system informs users about the remaining useful life (RUL) of a particular component. Moreover, OEMs are focusing on standardizing almost the entire gamut of telematics solutions in the high-end vehicles segment, and the prognostic system has been cited as a critical telematics application in tapping significant potential revenue from the aftersales period of vehicles.

“Other factors such as the growing popularity of fleet management solutions in the logistics sector and the emergence of truck platooning will have a significant impact on the growth of the heavy-duty trucks on-board diagnostics system market value during the forecast period,” says a senior analyst at Technavio.

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Heavy-Duty Trucks On-Board Diagnostics System Market: Segmentation Analysis

This market research report segments the heavy-duty trucks on-board diagnostics system market by gross vehicle weight rating (class 8 and class 7) and geography (APAC, Europe, MEA, North America, and South America).

The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA, respectively. The growth of the heavy-duty trucks on-board diagnostics system market share in APAC can be attributed to the increasing demand for fleet management and vehicle tracking services in this region.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191219005227/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: TRUCKING FLEET MANAGEMENT TRANSPORT AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 12/19/2019 05:30 AM/DISC: 12/19/2019 05:30 AM

http://www.businesswire.com/news/home/20191219005227/en