The vehicle analytics market size is expected to grow from USD 1,124.1 million in 2017 to USD 3,637.4 million by 2022, at a Compound Annual Growth Rate (CAGR) of 26.5%.
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Advancements in technologies, such as machine learning, artificial intelligence (AI), and predictive maintenance to enhance fleet management and increased use of real-time data collected from sensors, and Global Positioning System (GPS) tracking devices are some of the factors that have significantly fueled the growth of vehicle analytics solutions.
However, network coverage limitations and high initial setup costs are the restraining factors for the vehicle analytics market.
The vehicle analytics market comprises software and service providers, such as Acerta Analytics Solutions (Canada), Agnik LLC (US), Amodo (Croatia), Automotive Rentals (ARI) (US), Azuga (US), C-4 Analytics, LLC (US), CloudMade (UK), Digital Recognition Network (US), EngineCAL (India), Genetec Inc.(Canada), HARMAN International (US), IBM (US), Inquiry (Dubai), INRIX (US), Inseego Corp.
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(US), Intelligent Mechatronic Systems (Canada), Microsoft (US), Noregon (US), Pivotal Software, Inc. (US), Plotly (Canada), Procon Analytics (US), SAP (Germany), Teletrac Navman (US), WEX Inc.
(US), and Xevo Inc.(US).
Key Target Audience are Consulting companies, Insurance companies, Investors and venture capitalists, Value-Added Resellers (VARs), Small, medium-sized, and large enterprises, Third-party providers, Consultants/consultancies/advisory firms, Professional service providers, Automakers Regularity bodies.
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In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profile of the primary participants is as follows:
- By Company: Tier 1 – 25 %, Tier 2 –35%, and Tier 3 –40%
- By Designation: C level – 16%, Director level – 35%, and Others – 49%
- By Region: North America – 42%, Europe – 22%, and APAC – 36%
Some Points form Table of Content
6 Vehicle Analytics Market Analysis, By Application
6.2 Predictive Maintenance
6.3 Warranty Analytics
6.4 Traffic Management
6.5 Safety and Security Management
7 Vehicle Analytics Market Analysis, By Component
18.104.22.168 Professional Services
22.214.171.124.1 Deployment and Integration
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The Chinese market is currently keeping pace with the US and North America in terms of manufacturing the number of cars annually. The trend witnessed in the region is expected to even surpass/outgrow the US and Europe market in future.
APAC market offers several untapped and unexplored opportunities which if explored properly could be significant in propelling the growth for the vehicle analytics solution and service providers.
The report segments the vehicle analytics market on the basis of applications (predictive maintenance, warranty analytics, traffic management, safety and security management, driver and user behavior analysis, dealer performance analysis, infotainment, usage-based insurance and road charging); components (software, and services) deployment models (on-premises and on-demand); end-user (service providers, automotive dealers, fleet owners, regulatory bodies ,and insurers),and regions (North America, Europe, APAC, Middle East and Africa (MEA), and Latin America).
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