Speak to Analyst
Request a Free Sample
Vehicle Analytics Market
Vehicle Analytics Market is expected to grow at approx. USD 4.3 Billion by 2023, at 24% of CAGR between 2022 and 2030
$4.3 Billion
24%
North America
2022 - 2030
Vehicle Analytics Market Scenario
Vehicle analytics market is expected to grow at a CAGR of 24% between 2022 and 2030.Major giants like IBM Corporation and Microsoft Corporation are investing into vehicle analytics market due to increasing number of applications for vehicle analytics. Increasing adoption of smartphones and other mobile communication devices is one major factor fueling the growth of vehicle analytics market. IBM Corporation, in partnership with Panasonic Corporation has launched a cognitive infotainment platform in order to offer complete infotainment solutions for original equipment manufacturers and other fleet service providers. These infotainment solutions will be powered by cloud technologies in order to provide scalability and agility.
North America region holds the largest market share of global vehicle analytics market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing implementation of advanced technologies like artificial intelligence, machine learning and predictive maintenance in order to implement real time data analysis in the region. It makes use of the data being collected by sensors and GPS tracking devices. The region also has a well-established infrastructure which allows easy implementation of advanced technologies as well. Whereas, Asia Pacific region is expected to grow at the highest rate during the forecast period. The growth in Asia Pacific region is mainly dominated by China owing to the presence of huge manufacturing base and China is also keeping pace with the North America region in terms of manufacturing of cars annually.Â
Vehicle analytics market has been segmented on the basis of component, deployment, application and end user. The end user segment is further bifurcated into BFSI, healthcare, travel & hospitality, service providers, government, automotive dealers, fleet owners, insurers and others. Out of which, original equipment manufacturers sub segment is expected to hold the largest market share among the end users segment.
Major factor driving the growth of vehicle analytics market is the growing need for real time analysis of data which is being collected from sensors and GPS tracking devices. Technological advancements is another major factor responsible for driving the growth of vehicle analytics market.
Vehicle Analytics Market
 
Key Players:
The prominent players in vehicle analytics market are – 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.) among others.
Segments:
Vehicle analytics market can be segmented on the basis of following: By Component
Software Services Professional Services
- Deployment & Integration
- Support & Maintenance
- Consulting Services
Managed Services By Deployment
- On Demand
- On Premise
By Application
- Predictive Maintenance
- Traffic Management
- Warranty Analytics
- Infotainment
- Usage Based Insurance
- Road Charging
- Dealer Performance Analysis
- Safety & Security Management
- Driver & User Behavior Analysis
By End User
- Travel & Hospitality
- Service Providers
- Automotive Dealers
- Fleet Owners
- Insurers
- Others
Regional Analysis:
The regional analysis of vehicle analytics market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in vehicle analytics market in North America is attributed to technical advancements and increasing use of mobile devices, tablets and smartphones  in that region.
Intended Audience
- Technology Investors
- Research/Consultancy Firms
- Infrastructure Providers
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
- OEM technology solution providers
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 24% CAGR (2022 to 2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019Â &Â 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Deployment, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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 Market Opportunities | Increasing implementation of advanced technologies |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
The vehicle analytics market is anticipated to thrive due to the rising applications of fleet management services in the automotive industry.
The vehicle analytics market is expected to mark 24% CAGR.
The vehicle analytics market is expected to be valued at USD 4.3 Bn.
The application based segments of the vehicle analytics market are traffic management, predictive maintenance, and infotainment.
The participants of the vehicle analytics market are SAP SE (Germany), Microsoft Corporation (U.S.), Genetec (Canada), IBM Corporation (U.S.), Intelligent Mechatronic Systems (Canada), CloudMade (Ukraine), Inquiron (U.S.), Harman International Industries, Inc. (U.S.), Inseego (U.S.), Teletrac Navman (U.S.), Agnik LLC (U.S.), and Automotive Rentals (ARI) (U.S.).
