Prognostics in the European and North American Trucking Industry—Big Data is Creating all the Difference
This research service analyzes the impact of prognostics and Big Data in the medium and heavy duty trucking industry. Discussions cover existing business models of vehicle manufacturers, component suppliers, and aftermarket telematics vendors in Europe and North America. The base year is 2012. Highlights include the demand for prognostics from the end customers, key drivers and challenges, market influence from various value chain participants, and technology and potential revenue generating opportunities. Insight is provided about the evolving value chain, pricing models, installed base estimates, and revenue forecasts. Overall, the study offers a comprehensive look at the prognostics market.
Executive Summary—Key Findings
Predictive analytics and business intelligence companies enabled by Big Data will create revenue streams by providing analytics capabilities to the value chain. Integration within the value-chain partners will hold the key to revenue model.
The revenue derived from the prognostics space will increase substantially post 2017. The estimated revenue in 2020 for North America is $ million and $ million in Europe for OEMs and third-party vendors. There are revenue benefits to other market participants such as aftermarket service providers, warehouse distributors and fleets. The overall revenue benefit for the entire value chain is estimated to be around $ billion by 2025.
Predictive analytics has reduced maintenance days by half, increased fuel efficiency, and has helped improve vehicle usage through driver behavior monitoring, leading to increased efficiency in fleets and an effective supply chain.
The key to information generated from vehicles is held by certain participants in the value chain. Today, the benefits of basic prognostics are largely monetized by these participants–OEMs and component suppliers, internally. This situation is bound to change as telematics vendors are looking to monetize the opportunity.
Almost % of fleet managers have an active or a passive purchase intention toward prognostics and diagnostics services to reduce vehicle downtime and increase vehicle efficiency. This reflects the increasing activity from OEMs and vendors to enter the prognostics space.
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