The size of the global market for Vehicle Analytics is expected to reach $4.3 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 24%.
Vehicle Analytics is the analysis of vehicle activity and properties using data from on-board sensors, enabling users to gain a deeper understanding of the vehicle and the fleet as a whole by detecting suspicious behavior and identifying vehicle health in order to prevent disturbances. Vehicle analytics can also help users gain insight into the fitness of their vehicles and their driving habits. Various market actors, such as automotive suppliers, insurance companies, and car dealerships, benefit from granular level analysis of vehicle and driver activity in real-time, and vehicle analytics tools are currently being promoted by a number of providers. Vehicle analytics can be described as solutions installed on vehicles that aid in the gathering of information about the vehicles.
The aim of the report is to estimate the size of the market for Vehicle Analytics and the future growth potential of the market for Vehicle Analytics across various segments, such as base service type, Deployment and industry vertical industry. The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated.
In the automotive industry, digitization has become a critical engine of progress. With vehicles producing massive amounts of data in a matter of seconds, the ability to have superior customer interactions and business processes has never been more important. At the moment, cars have at least 50 sensors that collect more detailed data including speed, emissions, distance, resource use, driving behaviour, and fuel consumption. The created data allows stakeholders in the automotive industry to use it for more research, relationship analysis, and better utilization. End-users may use predictive analytics applications to evaluate previous trends and driving behaviour and make decisions about the probability of different potential possibilities. Apart from that, the connected car industry's development is expected to present a slew of challenges and opportunities for the automotive industry, including analytics, and it has been a major driver of innovation. Future automobiles would be equipped with vast amounts of knowledge and dense networking. The Asia Pacific vehicle analytics market is projected to have a large market share in terms of sales and to dominate the global market. The high availability of manufacturing and sales automobiles in the Asia Pacific market is a major factor that will fuel global market growth in this area.
Vehicle Analytics Market Scope
|Revenue forecast in 2030
|CAGR of 24% during 2020-2030
|By Component, By Deployment, By Application, By End User, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|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.)
Key Segments of the Global Vehicle Analytics Market
Deployment Overview (USD Billion)
Application Overview, (USD Billion)
- Predictive Maintenance
- Safety and Security Management
- Driver Performance Analysis
- Other Applications
Industry Vertical Overview, (USD Billion)
- Fleet Owners
- OEMs and Service Providers
- Other End-user Industries
Important Companies in Global Vehicle Analytics market
- Digital Recognition Network
- Agnik LLC
- Acerta Analytics Solutions
- Automotive Rentals
- HARMAN International
- Genetec Inc.
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of Vehicle Analytics Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Vehicle Analytics Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on deployment, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Vehicle Analytics Market. The report will benefit: Every stakeholder involved in the Vehicle Analytics Market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about Vehicle Analytics Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Vehicle Analytics Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.