SCOTTSDALE, Ariz., Sept. 19, 2016 /PRNewswire/ -- As real-time, connected vehicle prognostics move rapidly into consumer and commercial transportation, they pave the way for the progression of advanced driver assistance systems (ADAS), greater OEM profits and increased customer loyalty. ABI Research forecasts that there will be more than seven million prognostics-enabled, commercial vehicle solutions connected globally by 2021.
Vehicle prognostics are able to predict and inform, in real time, future component deviations or failures in advance of any performance impact. As these capabilities move rapidly, automotive prognostics will positively impact the supply chain from manufacturers to repair shops to third-party software providers.
"Automotive safety is shifting the industry toward a machine learning focus," says Susan Beardslee, Senior Analyst at ABI Research. "But autonomous vehicles will not become a mainstream solution without the ability to predict failures and address them prior to transporting passengers. And for that, vehicle prognostics are a must."
Companies like Omnitracs and Telogis provide rich data on vehicle health and prioritize business models that aggregate and monetize it. Commercial vehicles will benefit from telematics-based prognostics. With the technology, vehicles require less unplanned maintenance and can often avoid costly roadside assistance due to the remote monitoring and advanced algorithms that such services offer.
Prognostics specialists like Covisint, DataRPM, Hortonworks, Lochbridge, MathWorks, and Pivotal provide a suite of services, including real-time performance assessments, bi-directional information exchanges, and predictive failure analytics. And firms like the Ridgetop Group and iJet with expertise in aviation and/or defense provide advanced diagnostics and prognostics for transportation that can benefit consumer automotive and commercial vehicles, offering insights into service life extension as well as mission critical on and off-board monitoring.
In addition, companies that serve fleets, dealers, telematics service providers (TSPs), and automotive OEMs are providing value-added warranty and repair Software as a Service (SaaS), such as Allied Reliability, Nebula Systems, Noregon, and Predii. All offer service repair analytics to reduce warranty expenses and some even support in-vehicle analytics by utilizing the data gathered by the vehicle. Tier One Harman is leveraging its expertise in insurance and banking fraud to potentially save millions of dollars in warranty fraud for its customers.
"Vehicles continue to advance exponentially in both electronics and software complexity as the development of ADAS systems progresses," concludes Beardslee. "Consumer expectations, mobility as a service, and Over the Air, or OTA, capabilities will further drive prognostics adoption in the years ahead."
These findings are from ABI Research's Prognostics and Preventative Maintenance for Software Defined Vehicles (https://www.abiresearch.com/market-research/product/1024691-prognostics-and-preventive-maintenance-for/). This report is part of the company's Automotive, Smart Mobility, & Transportation sector (https://www.abiresearch.com/market-research/practice/autonomous-driving-location-tech/), which includes research, data, and analyst insights.
About ABI Research
ABI Research stands at the forefront of technology market research, providing business leaders with comprehensive research and consulting services to help them implement informed, transformative technology decisions. Founded more than 25 years ago, the company's global team of senior and long-tenured analysts delivers deep market data forecasts, analyses, and teardown services. ABI Research is an industry pioneer, proactively uncovering ground-breaking business cycles and publishing research 18 to 36 months in advance of other organizations. For more information, visit www.abiresearch.com.
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SOURCE ABI Research