Global Vehicle Analytics Market By Application (Predictive Maintenance, Warranty Analytics, Traffic Management, Safety and Security Management, Driver and User Behavior Analysis, Dealer Performance Analysis, Infotainment, Usage-Based Insurance, Road Charging), Component (Software, Services), Deployment Model (On-Premises, On-Demand), Organization Size (Small and Medium Enterprises, Large Enterprises), End User (Original Equipment Manufacturers, Service Providers, Automotive Dealers, Fleet Owners, Regulatory Bodies, Insurers), Geography(North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Vehicle Analytics Market
Global vehicle analytics market is set to witness a healthy CAGR of 24.04% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to upgradation and advancement in the technologies and improves safety provided by vehicle analytics is expected to contribute to the growth of the market.
Market Definition: Global Vehicle Analytics Market
Vehicle analytics is a technology that enables the manufacturer or users to gatherer the real-time data about the current state of the vehicle as well as driving methods of the driver. It also enables the vehicle counting, brand detection, road condition inspection, tracking, as well as incorrect direction detection. It requires a lot of space for storage of data. It is widely used in small and medium as well as large enterprises. The surging needs for effective transport services is creating a demand for vehicle analytics.
Market Drivers:
- The various technological innovations done to enhance fleet maintenance with the help of AI and machine learning is driving market growth
- The GPS tracking device and sensors provide the real time data of the users which act as a driving factor for the market
- The growing adoption of vehicle telematics is contributing to the growth of the market
- The public safety and security concerns have seen growth globally which is boosting the market growth
- The IP-based security systems has been in high demand which has contributed to market growth
- The unstructured video data has increased in volume which has increase the market growth
Market Restraints:
- The limitations arising from network coverage act as restraint in the market growth
- The initial setup of the technology requires high investment which hampers the market growth
- The increase in the number of false alarm alerts is hindering the growth of the market
Segmentation: Global Vehicle Analytics Market
By Application
- Predictive Maintenance
- Warranty Analytics
- Traffic Management
- Safety And Security Management
- Driver and Used Behavior Analysis
- Dealer Performance Analysis
- Infotainment
- Usage-Based Insurance
- Road Charging
By Component
- Software
- Services
- Professional Services
- Deployment and Integration
- Support and Maintenance
- Consulting Services
- Managed Services
- Professional Services
By Deployment Model
- On-Premises
- On-Demand
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
By End User
- Original Equipment Manufacturers
- Service Providers
- Automotive Dealers
- Fleet Owners
- Regulatory Bodies
- Insurers
By Geography
- North America
- U.S.
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Turkey
- Belgium
- Netherlands
- Rest of Europe
- Asia-Pacific
- Japan
- China
- South Korea
- India
- Australia
- Singapore
- Malaysia
- Indonesia
- Thailand
- Philippines
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Egypt
- Saudi Arabia
- United Arab Emirates
- Israel
- Rest of Middle East and Africa
Key Developments in the Market:
- In April 2019, Xevo announced that it has completed its acquisition deal and is now acquired by Lear Corporation. It will enable the combination of user friendly interface with cloud based technology through which a driver can interact with the application using real-time data. This acquisition will expand the Xevo in-vehicle data monetization as well as connected car platforms and it will increase the offering of the company with recurring revenues
- In June 2017, Admobilize has entered into a partnership with Smartlink to provide vehicle analytics solutions. They will offer the plug and play unit for vehicle count as well as speed data for customers. This partnership will establish Smartlink as the industry leader through which the company will be able to increase their revenues by acquiring more customers.
Competitive Analysis
Global vehicle analytics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global vehicle analytics market for Global, Europe, North America, Asia Pacific, South America and Middle East and Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global vehicle analytics market are Microsoft, IBM Corporation, IMS, Inseego Corp, SAP SE, CloudMade, Teletrac Navman US Ltd., AGNIK LLC, ARI Fleet Management Company, Inquiron, HARMAN International, Genetec Inc., INRIX, WEX Inc., Noregon, Xevo, Azuga, PROCON ANALYTICS, The Infinova Group, KEDACOM, Acerta Analytics Solution Inc., 3rd Eye Truck Cameras, NOVATION ANALYTICS and Amplify Mindware Pvt. Ltd. among others.
Research Methodology: Global Vehicle Analytics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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