Market Highlights:
The upsurge in the analytics and real time data demand by end users have also unlocked the growth possibilities for the vehicle analytics market. Market intensive reports associated to the information and communication technology industry among others recently have been made available by Market Research Future which publishes reports on this industry. The vehicle analytics market is projected to expand with a 24 % CAGR while achieving USD 4.3 Billion in earnings by the year 2023.
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.
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Major Key Players
- 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),
- Teletrac Navman (USA).
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.
Competitive Analysis
The chances for increasing revenue inflow in the business are expected to multiply through the forecast period. The escalating interest in diversification within the business has indirectly allowed the businesses to utilize several situations obtainable in the market. Companies are also continually attempting to create financial leverage, to be better positioned to capitalize on market gains. Challengers are also investing a certain amount in innovation to provide a certain degree of innovation in the market and expand the avenues for growth especially in the duration of the forecast period. The market trends have also necessitated the need to ensure financial sustainability to spend in growth opportunities as and when they arise. The objective of the firms in the market to grow their shareholder’s value, while enhancing the capability to power their competitive edge has enabled the company’s growth to a great extent.
Segmentation:
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.
Regional Analysis:
The regional segmentation segments the global vehicle analytics market into continents-based regional markets namely Asia Pacific, North America, Europe and rest of the world (RoW). North America has the largest market share due to technological advancement, increasing use of mobile devices, tablets, and smartphones in this region, and developed the automotive sector in this region. Many key market players are also based in North America. The biggest country-specific markets in this region are the United States of America (USA) and Canada.
After North America, Europe has maximum technological advancement as well as developed automotive sector. Many key market players are based in Europe too, especially in Germany. Other important country-specific markets in Europe are France and the United Kingdom (UK). According to the report, Asia Pacific region is expected to witness the fastest growth during the forecast period. In this region, the strongest economies with developed automotive sectors are China, India, and Japan.
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Intended Audience
- Technology Investors
- Research/Consultancy Firms
- Infrastructure Providers
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
- OEM technology solution providers
LIST OF TABLES
TABLE 1 VEHICLE ANALYTICS MARKET, BY COMPONENT
TABLE 2 VEHICLE ANALYTICS MARKET, BY DEPLOYMENT
TABLE 3 VEHICLE ANALYTICS MARKET, BY APPLICATION
TABLE 4 VEHICLE ANALYTICS MARKET, BY END USER
TABLE 5 VEHICLE ANALYTICS MARKET, BY REGIONS
TABLE 6 NORTH AMERICA VEHICLE ANALYTICS MARKET, BY COMPONENT
Continued……
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 VEHICLE ANALYTICS MARKET, BY COMPONENT (%)
FIGURE 3 VEHICLE ANALYTICS MARKET, BY DEPLOYMENT (%)
FIGURE 4 VEHICLE ANALYTICS MARKET, BY APPLICATION (%)
FIGURE 5 VEHICLE ANALYTICS MARKET, BY END USER (%)
FIGURE 6 VEHICLE ANALYTICS MARKET, BY REGIONS (%)
Continued……
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