The Global Vehicle Analytics Market was valued at 1906.73 million in 2019 and is projected to reach USD11305.79 million by 2027, growing at a CAGR of 26.89% from 2020 to 2027.
Vehicle analytics is a platform that enables us to analyze, monitor, and improve the vehicle and driver performance. It helps understand the vehicle behavior and trends. Vehicle analytics also provides the ability to improve overall safety for on-road vehicles through advanced safety measures and proactive vehicle maintenance, which in turn avoids distractions while driving, and allows vehicles to avoid any hazard. Vehicle analytics also increases security using vehicle access control and provides faster threat detection.
1. Market Drivers
1.1 Advancements in making autonomous vehicle a reality
1.2 Emerging machine learning, AI, technologies to enhance fleet management
1.3 Growing usage of real-time data collection from sensors and GPS tracking devices
1.4 Increasing vehicle analytics to enhance customer experience
2. Market Restraints
2.1 Concerns for data security
2.2 Issues with data integration with the existing system
2.3 High infrastructural costs
2.4 Limitations for network coverage
The Global Vehicle Analytics Market is segmented on the End User, Component (Software, Services), Deployment Model, Application, and region.
1. End User:
1.1 Fleet Owners
1.2 Original Equipment Manufacturers
1.3 Automotive Dealers
1.4 Service Providers
1.6 Regulatory Bodies
2. By Component:
2.2.1 Managed services
2.2.2 Professional services
220.127.116.11 Support and maintenance services
18.104.22.168 Consulting services
22.214.171.124 Deployment and Integration
3. By Deployment Mode:
4. By Application:
4.1 Safety and Security Management
4.2 Predictive Maintenance
4.3 Traffic Management
4.4 Road Charging, Warranty Analytics
4.5 Usage-Based Insurance
4.6 Dealer Performance Analysis
4.7 Driver and User Behavior Analysis
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
3. Genetec Inc.
4. Intelligent Mechatronic Systems
7. Agnik LLC
8. Teletrac Navman
9. Automotive Rentals (ARI)
11. Inseego Corp.
12. Harman International
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Vehicle Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. 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.
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