Global Vehicle Analytics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Vehicle Analytics Market: Overview
“The global Vehicle Analytics Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Currently, vehicles are manufactured with smart components such as sensors, diagnosis ports, connectivity ports, etc., and generate a huge amount of data. Vehicle analytics include technologies that explore this data and provide results as expected by the end-user.
Increasing penetration and development of smart devices in the automotive sector is expected to drive the adoption of vehicle analytics in the manufacturing sector. This adoption is attributed to its features such as traffic visualization, route analysis, voice command, service maintenance, and many more.
The advent of connected vehicles with capabilities to provide real-time, predictive, and contextual insights on consumer (buying) behavior, driving behavior, and vehicle health is a key factor expected to boost the growth of the target market.
Moreover, the increasing adoption of software that offers applications for streaming and real-time data analytics in connected vehicles is some of the major factors expected to boost the growth of the global market in the coming 10 years.
Furthermore, the growing demand for highly distributed (spatial extent) and highly dynamic (temporal extent) IoT grid-connected vehicles is anticipating the high adoption of vehicle analytics systems in heavy and light-duty vehicles. This adoption is primarily attributed due to its predictive maintenance capability which in turn is expected to fuel the growth of the potential market during the forecast period.
However, high initial investments involved with analytics setup and limitations on network coverage for long travel vehicles are major factors expected to decline the growth of the target market to a certain extent.
Global Vehicle Analytics Market: Segment Analysis
Among the end-user segment, the original equipment manufacturers (OEMs) segment is expected to register a high revenue share in the global market. Increasing adoption and demand for advanced technologies in automotive equipment as well as increasing development activities in-vehicle infotainment systems are major factors expected to propel the growth of the segment in the target market.
Various automotive manufacturers are focusing on proving predictive safety and security applications which is a feature offered by vehicle analytics.
Cloud-based technologies offer scalability and agility thus increasing the adoption of cloud-based vehicle analytics services and solutions. The proliferation of cloud-based analytics in the automotive sector and rising demand for real-time analysis which provides driver performance and predictive maintenance analysis in turn is expected to increase the implementation of vehicle analytics software.
The aforementioned are among some of the major factors expected to fuel the growth of the potential market.
Global Vehicle Analytics Market: Region Analysis
The vehicle analytics market in the Asia Pacific is expected to contribute a high market share in terms of revenue and will dominate the global market. The Asia Pacific market is driven by, the high availability of manufacturing and sales of automobiles is a major factor that will boost the growth of the global market in this region.
For instance; in 2018, according to an international organization of motor vehicle manufacturers China registered the highest cars and commercial vehicles production of a total of 25,705,558 units.
In addition, rising government investments in expanding the automotive sector by including technological advancements and increasing transport infrastructure activities in the Asia Pacific are some more factors expected to support the growth of the target market in this region.
Global Vehicle Analytics Market Segmentation:
Segmentation by Component:
Segmentation by Organization Size:
- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)
Segmentation by Deployment Mode:
Segmentation by End User:
- Fleet Owners
- Service Providers
- Automotive Dealers
- Regulatory Bodies
- Original Equipment Manufacturers (OEMs)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- SAP SE
- Agnik LLC
- Genetec, Inc.
- Inseego Corp.
- IBM Corporation
- Harman International
- Microsoft Corporation
- Automotive Rentals, Inc. (ARI)
- Teletrac, Inc. (Teletrac Navman)
- Intelligent Mechatronic Systems, Inc.
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