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Global Vehicle Analytics Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 24.8% through 2020 to 2027, reaching US$ XX Bn.
Global Vehicle Analytics Market
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The report covers all the trends and technologies playing a significant role in the growth of the vehicle analytics market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence market growth during 2020-2027. The demand for connected vehicles has been evolving the need for data analytics with the development in technologies of the automotive industry, to study and obtain customer behavior and considering and forecasting future demand. Previous, data analytics was restricted to sales and marketing only, but now companies are using IT in the product development stage, logistics sector, manufacturing operations, and aftermarket services. Big Data has found a host of uses extending from product design and production to analytical vehicle maintenance and autonomous fueling in the automotive industry.
Development in AI technology and migration towards cloud are the major opportunities which are expected to enhance the vehicle analytics market growth. However, high initial investments complex with analytics setup and restrictions on network coverage for long travel vehicles are major factor expected to drop growth of the global market to a certain extent.
The report covers the segments in the vehicle analytics market such as deployment model, applications, end-user, and component. By Component, software segment was valued at USD XX.12 Mn in 2019 and is expected to reach at USD XX.X Mn by 2027 at a CAGR of XX.34% over forecast period. Vehicle analytics software platforms are being progressively utilized by automotive companies and transport service providers to expand their product and services offerings.
Based on End-User, Original Equipment Manufacturers (OEMs) segment is expected to account for the largest XX% market share by 2027. OEMs are using vehicle analytics in order to boost their product efficiency, making them more relevant to the current requirements. In terms of revenue, the automotive OEM end-user segment currently makes the highest contribution to the worldwide vehicle analytics market.
APAC vehicle analytics market was valued at US$ XX.3 million in 2019 and is expected to reach a value of US$ XX.7 million by 2027, with a CAGR of XX.2% during the forecast period thanks to high availability of manufacturing and sales automobiles. In 2018, according to global organization of motor vehicle manufacturers China showed highest cars and commercial vehicles production of total 25,705,558 units. Also, growing government investments in spending automotive sector by including technological advancements and increasing transport infrastructure activities in APAC are some more factors expected to support growth of the vehicle analytics market in this region.
European companies are spending heavily on autonomous and connected vehicles. Therefore, the rapid expenditure in the Offering of autonomous technology is considered as one of the prime factors for the growth of the market in the European region.
The research study includes the profiles of leading companies operating in the global vehicle analytics market. In July 2018, SAP has launched Data Analytics Application for Connected Vehicles. It is based on the SAP HANA Cloud Platform. The application will collect, map a store, & analyze real-time sensor data from vehicles and equipment.
The objective of the report is to present a comprehensive analysis of the Global Vehicle Analytics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Vehicle Analytics Market dynamics, structure by analyzing the market segments and projects the Global Vehicle Analytics Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Vehicle Analytics Market make the report investor’s guide.
Scope of the Global Vehicle Analytics Market
Global Vehicle Analytics Market, By Application
• Predictive Maintenance
• Warranty Analytics
• Traffic Management
• Safety and Security Management
• Driver and User Behaviour Analysis
• Dealer Performance Analysis
• Usage-Based Insurance
• Road Charging
Global Vehicle Analytics Market, By Component
o Professional Services
o Deployment and Integration
o Support and Maintenance
o Consulting Service
• Managed Services
Global Vehicle Analytics Market, By Deployment Model
Global Vehicle Analytics Market, By End-User
• Original Equipment Manufacturers (OEMs)
• Service Providers
• Automotive Dealers
• Fleet Owners
• Regulatory Bodies
Global Vehicle Analytics Market, By Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Key players operating in Global Vehicle Analytics Market
• Genetec Inc.
• Intelligent Mechatronic Systems
• Harman International
• Teletrac Navman
• Inseego Corp.
• Agnik LLC
• Automotive Rentals (ARI)
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