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Predictive Maintenance Services in the North American Medium-to-Heavy-Duty Vehicle Market, 2020 - PDM Providers are Moving Toward AI Techniques to Differentiate their Offerings

·3 min read

DUBLIN, Jan. 25, 2021 /PRNewswire/ -- The "Predictive Maintenance Services in the North American Medium-to-Heavy-Duty Vehicle Market, 2020" report has been added to ResearchAndMarkets.com's offering.

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The Radar reveals the market positioning of companies using their Growth and Innovation scores as highlighted in the Radar methodology. The document presents competitive profiles on each of the companies based on their strengths, opportunities, and market positioning. We discuss strategic market imperatives and the competitive environment that vendors operate in as well as make recommendations for each provider to consider to spur growth.

In the North American medium-to-heavy-duty vehicle market, predictive maintenance (PdM) solution providers primarily rely on condition monitoring tools, such as telematics devices, and data generated from sensors to anticipate maintenance time frames and enhance asset performance and safety. Telematics service providers (TSPs) and original equipment manufacturers (OEMs) have total control of vehicle-generated data, which means PdM solution providers will have to seek partnerships and open access to data streaming if they are to offer improved solutions.

The cost of installing software that works on TSPs' hardware averages $10 to $25 per truck. In contrast, PdM providers' software solutions that work only on their proprietary hardware have a higher cost of installation because the price of the device is included. Use of proprietary hardware could restrict some fleet operators' flexibility in adopting new solutions if they already have telematics devices installed.

Some PdM providers are moving toward artificial intelligence (AI) techniques to differentiate their offerings from competitors who rely mainly on historical data to generate maintenance predictions. Providers using AI deliver precise information on expected component failure. AI techniques not only predict failure but also provide advanced diagnostics and recommend maintenance scheduling.

The PdM services for medium-to-heavy-duty vehicle market is in a nascent stage. As such, it is crucial for PdM solution providers to educate fleet operators about the benefits of these solutions to ensure their wide market acceptance as trust in data, warranty issues, and hesitation to make PdM investments for vehicles under warranty are barriers to new business. Operators of large fleets composed of vehicles under manufacturer warranty may be reluctant to adopt PdM solutions because parts under warranty cannot be replaced prematurely based on their expected failure.

Analysis provided in this study is critical not only for solution providers but also for channel partners, such as telematics service providers, to understand the opportunities that align with their overall business strategy.

Key Topics Covered:

1. Strategic Imperative and Growth Environment

  • Strategic Imperative

  • Growth Environment

2. The Radar

  • The Radar: Predictive Maintenance in Medium-to-Heavy-Duty Vehicle Market

  • The Radar: Competitive Environment

3. Companies to Action

  • Dossier Systems, Inc.

  • Greenwave Reality, Inc. (Greenwave Systems)

  • Noregon Systems, Inc.

  • Optimum Fleet Health, Inc.

  • Pitstop

  • Preteckt, Inc.

  • Progress Software Corporation

  • Uptake Technologies, Inc.

4. Strategic Insights

5. Next Steps: Leveraging the The Radar to Empower Key Stakeholders

  • Significance of Being on the The Radar

  • The Radar Empowers the CEO's Growth Team

  • The Radar Empowers Investors

  • The Radar Empowers Customers

  • The Radar Empowers the Board of Directors

  • The Radar Analytics

  • The Radar: Benchmarking Future Growth Potential

For more information about this report visit https://www.researchandmarkets.com/r/l42t5v

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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