The vehicle analytics market is projected to expand with a 24 percent CAGR while achieving USD 4.3 Billion in earnings by the year 2023. Major Information Technology (IT) giants are investing in vehicle analytics market due to increasing number of applications for vehicle analytics. Market Research Future (MRFR) has published a research report about the global vehicle analytics market that estimates staggering growth for this market.
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A major factor driving the global vehicle analytics market growth is a real-time analysis of data that gets collected from sensors and global positioning system (GPS) tracking devices. Another factor responsible for market growth is technological advancement.
Major Key Players
The key players in the global vehicle analytics market include Agnik LLC (USA), Automotive Rentals (ARI) (USA), CloudMade (Ukraine), Genetec (Canada), Harman International Industries, Inc. (the USA), IBM Corporation (USA), Intelligent Mechatronic Systems (Canada), Inseego (USA), Inquiron (USA), Microsoft Corporation (USA), SAP SE (Germany), and Teletrac Navman (USA). among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Vehicle Analytics market.
According to MRFR, 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.
The vehicle analytics market is segmented on the basis of component, professional services, deployment, application and end users. By component, the market is divided into the software and services segments. The professional services based segmentation of the vehicle analytics market comprises of support & maintenance, consulting services, managed services, deployment, and integration. The deployment based division of the market consists of on demand and on premise segment. Usage Based Insurance, Predictive Maintenance, Warranty Analytics, Traffic Management, Infotainment, Road Charging, Dealer Performance Analysis, Safety & Security Management, Driver & User Behavior Analysis are the segments on the basis of application. Finally, the end users segment comprises of automotive dealers, travel & hospitality, service providers, fleet owners, insurers, and others.
The global vehicle analytics market has been segmented on the basis of application, component, end user, managed services by deployment, professional services, and lastly, region. Application-based segmentation of this market covers dealer performance analysis, driver & user behavior analysis, infotainment, predictive maintenance, road charging, safety & security management, traffic management, usage-based insurance, and warranty analytics. Segmentation by components segments the market into software and services.
Based on the end user, the market has been segmented into automotive dealers, fleet owners, insurers, service providers, travel & hospitality, and others. Managed services by deployment segment the market into on-demand deployment and on-premise deployment. On-demand deployment is customized deployment that can vary as per the requirement of client. On-premise deployment is defined as the procedure of setting up the system in the client premises which is usually a center that would track the GPS of the vehicle. On the basis of professional services, the market has been segmented into consulting services, deployment & integration, and support & maintenance.
Detailed Regional Analysis
The regional analysis of the market for vehicle analytics comprises of regions such as North America, Europe, Asia Pacific, and Rest of the World. It has been witnessed that the North American region is likely to be responsible for the biggest share of the market, while the Asia Pacific is expected to grow at a rapid rate through the forecast period. The main development in the vehicle analytics market in the North American region is credited to the technical advancements and growing use of tablets, mobile devices, and smartphones in the region.
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TABLE OF CONTENTS
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
3.2 MARKET DRIVERS
3.3 MARKET CHALLENGES
3.4 MARKET OPPORTUNITIES
3.5 MARKET RESTRAINTS
4 EXECUTIVE SUMMARY
5. MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES ANALYSIS
5.2 SUPPLY CHAIN ANALYSIS