The global demand for Vehicle Analytics Market is presumed to reach the market size of nearly USD 44.97 BN by 2030 from USD 6.57 BN in 2022 with a CAGR of 27.18% under the study period 2023 - 2030.
Vehicle analytics can be defined as solutions installed on vehicles that aid in gathering information about the vehicles. Vehicle analytics have a wide range of applications, ranging from farmers to large-scale fleet operators, because they provide many benefits, such as increased safety, faster threat identification, vehicle tracking, and driving behaviour monitoring, to name a few. OEMs are using vehicle analytics to improve the efficiency of their products and make them more relevant to current needs. Automobile firms and transportation service providers are increasingly turning to vehicle analytics software platforms to extend their product and service offerings.
Market Dynamics
Increased travel convenience, particularly within metropolitan areas, has aided in adopting advanced vehicular technology like vehicle analytics. Furthermore, the growing demand for more efficient transportation service solutions to manage traffic and route mapping concerns is expanding the breadth of vehicle analytics applications, fueling the market growth. The advancement of AI technology and the migration to the cloud are other key factors that are expected to promote the vehicle analytics industry's growth. With advances in automotive technology, the necessity for data analytics has grown, allowing companies to research and gather client behaviour while also assessing and anticipating the future need for vehicle analytics. Growing government spending in the automotive sector, which includes technical improvements and increased transport infrastructure operations, is likely to drive the vehicle analytics market. As a result, one of the essential drivers propelling the growth of the vehicle analytics market is the rising investment in autonomous technology. However, hefty initial investments, complicated analytics setup, and network coverage limits for long-distance cars are projected to stifle worldwide market growth to some extent.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of vehicle analytics. The growth and trends of vehicle analytics industry provide a holistic approach to this study.
Market Segmentation
This section of the vehicle analytics market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Application
- Dealer Performance Analysis
- Driver And User Behavior Analysis
- Predictive Maintenance
- Safety And Security Management
- Traffic Management
- Usage-Based Insurance
By Deployment
By End User
- Original Equipment Manufacturers (Oems)
- Insurers
- Automotive Dealers
- Regulatory Bodies
- Fleet Owners
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Vehicle Analytics market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Vehicle Analytics Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the vehicle analytics market include ARI Fleet Management Company, Continental AG, Genetec Inc., Inquiron Limited, Inseego Corp., International Business Machines Corporation, Microsoft Corporation, Samsung Electronics Co., Ltd., SAP SE, and Teletrac. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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