Telematics, e-commerce and 3-D printing will form key foundations in the evolution of the OEM aftersales channel, with OEMs attempting to integrate all aftersales services into a single, digital platform. Frost & Sullivan expects global automotive aftermarket demand to increase by 4.4 percent during 2018, with a slowdown anticipated in some developed markets. Participants in the OEM aftermarket that embrace potential data monetization opportunities that can be optimized by enhanced customer accessibility, widening B2B networks and expanding product and service portfolios, will capitalize on current value-add opportunities and ensure future success.
“The development of applications to leverage data collection from on-road vehicles will open up opportunities for data monetization with service providers aiming to deliver innovative predictive maintenance solutions around this trend,” said Vasudevan Rajesh, mobility senior industry analyst at Frost & Sullivan.
Frost & Sullivan’s recent analysis, Global Automotive Aftermarket Outlook, 2018, identifies the size of the global automotive parts and services aftermarket and its growth opportunities in 2018. Analysis of vehicles in operation and replacement rates, industry trends, challenges, market size potential, the impact of “Mega Trends” and major benchmarks are assessed across America, Europe, China, Latin America and India.
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