In this analysis, Frost & Sullivan examines how servitization is reshaping the light commercial vehicle (LCV) industry. As the industry shifts from product-centric to service-led models, LCV manufacturers are expanding their offerings beyond vehicle sales to include fleet management, predictive maintenance, telematics, flexible ownership models, and real-time data insights, all aimed at improving efficiency and customer loyalty.

Driven by digital connectivity and rising customer expectations, servitization enables OEMs to generate recurring revenue, strengthen long-term relationships, and remain resilient in the face of industry volatility. The growing emphasis on electrification, sustainability, and optimized fleet operations is accelerating this evolution. New service models, such as maintenance-as-a-service, usage-based financing, EV charging support, and driver training, are helping customers reduce the total cost of ownership and improve fleet uptime.

• Why is servitization a strategic path to future readiness for LCV manufacturers?
• How can OEMs align digital & sustainable mobility megatrends and position themselves as long-term partners to fleet operators, thereby driving growth and leadership in a rapidly evolving ecosystem?
• What are the emerging growth opportunities across areas like general sales & allied services, connected services, financial services, and aftermarket services?