According to the latest report by IMARC Group, titled “Vehicle Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global vehicle analytics market size reached US$ 1.84 Billion in 2021. Looking forward, IMARC Group expects the market value to reach US$ 7.27 Billion by 2027, expanding at a CAGR of 25.77% during 2022-2027.
Vehicle analytics represents a technology that tracks real-time information from vehicles and provides it to the user or the manufacturer. It aids in vehicle counting, tracking, brand detection, road condition inspection, and incorrect direction detection. Vehicle analytics also assists in determining the current state of a vehicle and the driving methods used by the driver. Besides this, as it improves the efficiency and safety of the overall driver experience, the demand for this solution is escalating across the globe.
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Global Vehicle Analytics Market Trends:
The inflating digitization in the automotive sector, as it delivers detailed information about speed, distance, emissions, resource usage, driving behavior, and fuel consumption, and the rising sales of vehicles are among the key factors stimulating the vehicle analytics market. Moreover, the increasing congestion on city streets and sidewalks has resulted in numerous safety challenges, including distracted pedestrians and the escalating number of bicyclists, which is acting as another significant growth-inducing factor. Besides this, government bodies of several countries are encouraging the adoption of vehicle analytics solutions to analyze real-world data about traffic patterns and road conditions is positively influencing the global market. Furthermore, the elevating usage of this solution enables drivers to obtain an analysis of areas with poor road conditions and bottlenecks that create traffic delays is also propelling the market growth. Apart from this, vehicle analytics provides an alert to the owner beforehand about the potential requirement of maintenance before a breakdown can occur, which helps in minimizing road accidents across the globe that are caused, on account of human negligence in the timely service and maintenance of vehicles, is further fueling the global market. Additionally, the growing utilization of this solution to keep naval, aircraft, and ground vehicles online and avoid costly last-minute repairs is anticipated to fuel the vehicle analytics market over the forecasted period.
Vehicle Analytics Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the vehicle analytics market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Agnik LLC
- CloudMade (Valeo)
- Continental AG
- Genetec Inc.IMS
- Insurance & Mobility Solutions)
- Inquiron
- Inseego Corp International Business Machines Corporation
- Microsoft Corporation
- Samsung Electronics Co. Ltd
- SAP SE and Teletrac Navman US Ltd
Key Market Segmentation:
The report has segmented the vehicle analytics market on the basis of component, deployment mode, application and end user
Breakup by Component:
- Software
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Application:
- Dealer Performance Analysis
- Driver and User Behaviour Analysis
- Predictive Maintenance
- Safety and Security Management
- Traffic Management
- Usage-based Insurance
Breakup by End User:
- Original Equipment Manufacturers (OEMs)
- Insurers
- Automotive Dealers
- Regulatory Bodies
- Fleet Owners
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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