Search results for: 'spend security built'

Purpose-built vehicles (PBVs) represent the new breed of customized vehicle development. Unlike custom-built vehicle manufacturing processes, in which few alterations are made to existing vehicle models, PBVs are customized from the design phase to suit the application in which the vehicle will be deployed in the future. The PBV market is fragm...

The transition to software-defined vehicles, centralized compute platforms, OTA updates, and connected services is significantly increasing software complexity and attack surface exposure. Continuous asset visibility, vulnerability management, software supply chain security, and secure-by-design engineering are becoming essential capabilities throu...

The purpose-built vehicle (PBV) market is a new business model in the automotive industry that involves original equipment manufacturers (OEMs) designing, manufacturing, and selling highly customized vehicles according to customers’ application needs. There are high demand and competition in the shared mobility market, ride-hailing services, and la...

The automotive industry is shifting towards intelligent networking systems and refined architecture for the development and deployment of advanced connected and autonomous vehicles. With an increasing number of connectivity features, the possibility of cyberattack threatens the safe operation of vehicles. With the security aspects of connected vehi...

People are moving away from car ownership to usership models. As cost of ownership and cities' push for sustainable modes increase, the uptake of alternative mobility modes will also rise. Cities are framing regulations to promote the use of shared mobility modes. With car ownership set to decrease, OEMs are looking at expanding the relevance o...

Frost & Sullivan’s research service assesses the size of the global medium- and heavy-duty (MD and HD) truck parts and services aftermarket and its growth opportunities from 2022 to 2027. This global study highlights major Class 4–8 truck aftermarket trends with specific regional analysis into North America, Latin America, Europe, Asia-Pacific, and...

This Frost & Sullivan analysis aims to examine the connected truck cybersecurity market, which includes light, medium, and heavy-duty vehicles. This analysis has a global scope, focusing on key regions North America, Europe, China, India, and Japan which it considers for market forecasting. With upcoming regulatory mandates, original equipment m...

The COVID-19 pandemic has affected industries worldwide, but few felt it as directly as the global commercial vehicles aftermarket. The collapse of economic activity in many regions reduced the number of trucks on the road and average miles driven. It also has caused a skilled labor shortage of truck drivers, repair technicians, and other workers n...

10 Aug 2022  |  Global  |  Market Outlook

Global Medium- and Heavy-duty Commercial Vehicle Aftermarket Outlook, 2022

Average Miles Driven and Spend per Vehicle to Rise Sharply and Result in Transformational Growth

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In 2021, the aftermarket rebounded strongly from the COVID-19 pandemic of 2020, as vehicles in operation (VIO), average miles driven, and spend per vehicle increased. However, parts shortages remain a year after the global economy has reopened, and the skilled labor shortage of truck drivers and service technicians is approaching critical levels. T...