Global Vehicle Analytics Market, By Application (Predictive Maintenance, Warranty Analytics, Traffic Management, Safety and Security Management, Driver and User Behaviour Analysis, Dealer Performance Analysis, Infotainment, Usage-Based Insurance and Road Charging), Component (Software and Services), Deployment Model (On-Premises and On-Demand), Organization Size (Small and Medium Enterprises and Large Enterprises), End User (Original Equipment Manufacturers, Service Providers, Automotive Dealers, Fleet Owners, Regulatory Bodies and Insurers), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Vehicle Analytics Market
Rapid advancement and up gradation in the technology coupled with rising improvement in data safety have propelled growth in demand for vehicle analytics. Data Bridge Market Research analyses that the vehicle analytics market will exhibit a CAGR of 29% for the forecast period of 2021-2028.
Modern-day vehicles are manufactured and induced with advanced technologies, sensors, connectivity ports, diagnostic ports and generate huge amounts of data. This is where the need for vehicle analytics arises. Vehicle analytics incorporates the technology that helps to explore this data and provide the desired results. The technology helps to obtain real-time data about the current state of the vehicle. The vehicle analytics technology also provides information related to vehicle counting, brand detection, road condition inspection, tracking, and incorrect direction detection.
The rising penetration of smart devices and technologies in the automotive sector has propelled the growth in vehicle analytics demand. The increasing adoption of software and applications that streamline the real-time data in connected vehicles has further boosted the vehicle analytics market value. Increased focus on public safety and security concerns has also promoted the growth of the vehicle analytics market.
However, network coverage limitations will demean the market growth rate. The high initial investment will further derail the market growth rate. Rising false alarm alerts will also pose a challenge to market growth.
This vehicle analytics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on vehicle analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Vehicle Analytics Market Scope and Market Size
The vehicle analytics market is segmented on the basis of application, component, deployment model, organization size and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of application, the vehicle analytics market is segmented into predictive maintenance, warranty analytics, traffic management, safety and security management, driver and user behaviour analysis, dealer performance analysis, infotainment, usage-based insurance and road charging.
- On the basis of component, the vehicle analytics market is segmented into software and services. Services segment is sub-segmented into professional services and managed services. Professional services segment is further bifurcated into deployment and integration, support and maintenance and consulting services.
- On the basis of deployment model, the vehicle analytics market is segmented into on-demand and on premises.
- On the basis of organization size, the vehicle analytics market is segmented into small and medium enterprises and large enterprises.
- On the basis of end user, the vehicle analytics market is segmented into original equipment manufacturers, service providers, automotive dealers, fleet owners, regulatory bodies and insurers.
Vehicle Analytics Market Country Level Analysis
The vehicle analytics market is analysed and market size, volume information is provided by country, application, component, deployment model, organization size and end user as referenced above.
The countries covered in the vehicle analytics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to register the highest compound annual growth rate during the forecast period owing to the increased manufacturing of connected vehicles. Increasing penetration of new technological industries, especially in the automobile sector, across countries in this region will further promote vehicle analytics demand. Rising expenditure by the government in the automobile sector will further create more lucrative vehicle analytics market growth opportunities. Increased focus on research and development proficiencies and rising personal disposable income are some other indirect vehicle analytics market growth determinants.
The country section of the vehicle analytics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vehicle Analytics Market Share Analysis
The vehicle analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the vehicle analytics market.
The major players covered in the vehicle analytics market report are IBM, Microsoft, WEX Inc., HARMAN International., SAP, Genetec Inc., INRIX, Teletrac Navman US Ltd, Inseego Corp., PROCON ANALYTICS., IMS Software, Inc., CloudMade, The Infinova Group., Azuga., Noregon., Acerta Analytics Solutions, Inc., KEDACOM, Xevo, AGNIK LLC., Plotly., Inquiron., EngineCAL, AMODO and Digital Recognition Network among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.