The Global Vehicle Analytics market is expected to grow from $1265.95 million in 2017 to reach $8465.65 million by 2027 with a CAGR of 23.5%. Factors such as advancements in technologies, such as artificial intelligence, machine learning and rising use of real-time data collected from sensors and global positioning system (GPS) tracking devices are fueling the market growth. However, network coverage limitations and high initial setup costs are hampering the market.
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The on-demand deployment model makes utilize of the cloud to transport solutions to the clients. Scalability and agility of cloud-based technologies are increasing the adoption of cloud-based vehicle analytics solutions. In the cloud deployment model, organizations do not have to deal with the complexities involved in integration, installation, configuration, optimization, maintenance, and support, as these are in most cases managed or hosted by a third-party service provider.
North America is expected to generate highest revenue due to well-established and financially intensive economies and moreover the chief presence of mostly all the biggest conglomerates of the world such as IBM, Microsoft, SAP, and SAS Institute.
Some of the key players in the Vehicle Analytics market include IBM, SAP, Microsoft, Harman International, Teletrac Navman, Cloudmade, Agnik LLC, Automotive Rentals (ARI), Genetec Inc, Inquiron, Inseego Corp, Intelligent Mechatronic Systems, Xevo Inc., INRIX, and Amudo.
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Deployment Models Covered:
– Road Charging
– Usage-Based Insurance
– Predictive Maintenance
– Traffic Management
– Warranty Analytics
– Driver and User Behavior Analysis
– Dealer Performance Analysis
– Safety and Security Management
– Automotive Dealers
– Regulatory Bodies
– Fleet Owners
– Service Providers
– Original Equipment Manufacturers (OEMs)
– Tier 1 Suppliers
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