Vehicle Analytics Market, By Component (Software, Services), By Deployment (On Premise, On Demand), By Application (Predictive Maintenance, Traffic Management, Infotainment) and By End User - Forecast 2023
In this rapidly changing world of technology, vehicle analytics market is projected to show major growth prospects during the forecast period. Major factor driving the vehicle analytics market is the increasing adoption of cloud based technologies in vehicles and growing need for real time data analysis.
many automotive players are leveraging the vehicle analytics in order to enhance customer service experience.
The global vehicle analytics market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World.
As compared to other regions, the vehicle analytics market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of vehicle analytics market.
This is owing to the presence of large number of established key players like IBM Corporation and Microsoft Corporation in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity.
This is expected to be a major factor for the growth of vehicle analytics market. Growing adoption of traffic management solutions and increasing demand for real time analysis of data being collected from GPS tracking devices are major factors driving the growth of vehicle analytics market in the region.
The vehicle analytics market is growing rapidly over 24% of CAGR and is expected to reach at approx. USD 4.3 Billion by the end of forecast period.
Major Key Players
- SAP SE (Germany),
- Genetec (Canada),
- Microsoft Corporation (U.S.),
- IBM Corporation (U.S.),
- CloudMade (Ukraine),
- Intelligent Mechatronic Systems (Canada),
- Harman International Industries, Inc. (U.S.),
- Teletrac Navman (U.S.),
- Inseego (U.S.),
- Agnik LLC (U.S.),
- Inquiron (U.S.),
- Automotive Rentals (ARI) (U.S.)
Vehicle Analytics Market Segmentation
The vehicle analytics market has been segmented on the basis of component, deployment, application and end user. The deployment segment is further bifurcated into on premise and on demand deployment models.
Out of which, the on demand deployment model is more popular and is expected to hold the largest market share of the vehicle analytics market. This is owing to the increasing adoption of cloud based technologies and the scalability being offered by these technologies is driving the overall growth of vehicle analytics market.
Growing need for real time data analytics is one major factor fueling the growth of vehicle analytics market.
Market Research Analysis:
It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in vehicle analytics market in North America is attributed to technical advancements and increasing demand for real time data analysis in that region.
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Table of Content
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
LIST OF TABLES
TABLE 1 VEHICLE ANALYTICS MARKET, BY COMPONENT
TABLE 2 VEHICLE ANALYTICS MARKET, BY DEPLOYMENT
TABLE 3 VEHICLE ANALYTICS MARKET, BY APPLICATION
TABLE 4 VEHICLE ANALYTICS MARKET, BY END USER
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 VEHICLE ANALYTICS MARKET, BY COMPONENT (%)
FIGURE 3 VEHICLE ANALYTICS MARKET, BY DEPLOYMENT (%)
FIGURE 4 VEHICLE ANALYTICS MARKET, BY APPLICATION (%)
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