Frost Radar™: Purpose-built Vehicles, 2023
Published on: 20-Jan-2023 | SKU: AU02493-GL-MR_27414

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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 fragmented, with most companies launching vehicles for application areas like ride-sharing, last-mile delivery, and recreation purposes. Service providers in these areas require customized vehicles with components and features that are useful for their customers and enable them to achieve high productivity and customer satisfaction levels.

While more than a dozen other companies are exploring or have recently entered the market, Frost & Sullivan has identified 10 companies in this global PBV Radar™ study featuring REE Automotive, Canoo, Hyundai, Kia, Volkswagen, Arrival, Zoox, Cruise, Mobilize, and Rivian as market powerhouses.

The companies considered here have a varying scale of operations—some are automotive startups that design and develop electric, purpose-built, and tailor-made vehicles to suit particular applications, while others are large conventional automotive OEMs converting existing vehicle models into PBVs that are highly customized to customer requirements as an additional business opportunity segment.

The companies are ranked based on various factors, including the vehicle customization level as per the application needs; innovation in vehicle design that will benefit customers; the feasibility of manufacturing these customized vehicles, the company vision for the PBV market and EV platform strategies; and technology advancements such as autonomous capability and software-defined vehicle architecture.

Author: Thanigesh Arumugam Parthasarathi

The Strategic Imperative

The Strategic Imperative (continued)

The Growth Environment

Frost Radar™: Purpose-built Vehicles Market

Frost Radar™: Competitive Environment

Frost Radar™: Competitive Environment (continued)

REE Automotive

Canoo

Rivian

Hyundai

Kia

Arrival

Cruise

Zoox

Volkswagen

Mobilize

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

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Impacting your company's future growth potential.

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 fragmented, with most companies launching vehicles for application areas like ride-sharing, last-mile delivery, and recreation purposes. Service providers in these areas require customized vehicles with components and features that are useful for their customers and enable them to achieve high productivity and customer satisfaction levels. While more than a dozen other companies are exploring or have recently entered the market, Frost & Sullivan has identified 10 companies in this global PBV Radar™ study featuring REE Automotive, Canoo, Hyundai, Kia, Volkswagen, Arrival, Zoox, Cruise, Mobilize, and Rivian as market powerhouses. The companies considered here have a varying scale of operations—some are automotive startups that design and develop electric, purpose-built, and tailor-made vehicles to suit particular applications, while others are large conventional automotive OEMs converting existing vehicle models into PBVs that are highly customized to customer requirements as an additional business opportunity segment. The companies are ranked based on various factors, including the vehicle customization level as per the application needs; innovation in vehicle design that will benefit customers; the feasibility of manufacturing these customized vehicles, the company vision for the PBV market and EV platform strategies; and technology advancements such as autonomous capability and software-defined vehicle architecture. Author: Thanigesh Arumugam Parthasarathi
More Information
Deliverable Type Frost Radar
Author Thanigesh Arumugam Parthasarathi
Industries Automotive
No Index No
Is Prebook No
Keyword 1 purpose built vehicles
Keyword 2 PBV market
Keyword 3 Purpose-Built Mobility Vehicles
Podcast No
WIP Number PDCE-01-00-00-00

Frost Radar™: Purpose-built Vehicles, 2023

AutomotiveFrost Radar™: Purpose-built Vehicles, 2023

A Benchmarking System to Spark Companies to Action-Innovation that Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
20-Jan-2023
REGION
Global
Deliverable Type
Frost Radar
Research Code: PDCE-01-00-00-00
SKU: AU02493-GL-MR_27414
AvailableYesPDF Download
$4,950.00
In stock
SKU
AU02493-GL-MR_27414