The Vehicle Analytics Market Size was valued at USD 4.20 billion in 2023, and expected to reach USD 25.87 billion by 2031, and grow at a CAGR of 25.5% over the forecast period 2024-2031.
Vehicle analytics is a technology that tracks real-time data from the vehicle and provides real-time insights to end users. Furthermore, data insights created by vehicle analytic systems serve as the foundation for autonomous micro-mobility and vehicle-to-everything (V2X) since they provide integrated inputs for vehicle activities. Because of the increased penetration of V2X technology and the expansion of the tech-savvy population, connected mobility technology has gained significant traction in recent years, enabling the growth of the vehicle analytic industry.
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The market for vehicle analytics has been divided into four categories: component, deployment, application, and end user. BFSI, healthcare, travel & hospitality, service providers, government, vehicle dealers, fleet owners, insurers, and others make up the end user category. Among the end users category, the original equipment manufacturers sub segment is predicted to have the biggest market share.
The growing requirement for real-time analysis of data received from sensors and GPS tracking devices is a major driver
Another key element fueling the growth of the vehicle analytic market is technological advances
Use of cloud-based technology for smart fleet management systems is increasing
The market's growth is hampered by high installation costs and data security concerns
Growing concerns about cybersecurity could stifle market expansion
More advanced technologies are being implemented
To obtain a competitive advantage, market participants are forming strategic relationships with OEMs, insurers, and fleet operators
Semi-autonomous and autonomous vehicles are gaining popularity
One of the factors likely to boost market expansion is a rise in demand from developing countries
High installation costs
long-term requirements in vehicle analytic systems
The ongoing need to upgrade vehicle analytic systems
Due to commute limits and the predicted dismal financial performance of market players in 2020, the propagation of the COVID-19 pandemic has had a detrimental impact on the global vehicle analytic market. Organizations are preparing smart cost-cutting initiatives in response to the pandemic's economic impact. Because of the growing need for connected technology in automotive and the growing penetration of autonomous vehicles, the worldwide market is predicted to recover in 2021 and gain momentum in 2022.
By Application:
Predictive Maintenance
Warranty Analytic
Usage-based Insurance
Safety and Security Management
Driver and User Behaviour Analysis
Dealer Performance Analysis
Road Charging
By Component:
Software
Services
By End user:
Original Equipment Manufacturers (OEMs)
Service Providers
Fleet Owners
Automotive Dealers
Insurers
Regulatory Bodies
By Deployment Model:
On-Premises
On-Demand
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North America has the most share of the global vehicle Analytic market, followed by Europe and Asia Pacific. The United States and Canada dominate the North America region's growth, which can be ascribed to the region's increased use of modern technologies such as artificial intelligence, machine learning, and predictive maintenance to execute real-time data analysis. During the projected period, the Asia Pacific region is expected to increase at the fastest rate. China dominates the growth in the Asia Pacific region because to its large industrial base, and China is also keeping up with the North American region in terms of yearly automobile production.
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
SAP SE (Germany), Genetec (Canada), Microsoft Corporation (US), IBM Corporation (US), Inseego (US), CloudMade (Ukraine), Agnik LLC (US), Intelligent Mechatronic Systems (Canada), Harman International Industries, Inc. (US), Teletrac Navman (US), Inquiron (US), Automotive Rentals (US), and others are among the leading players in the vehicle analytics market.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 4.20 Billion |
| Market Size by 2031 | US$ 25.87 Billion |
| CAGR | CAGR of 25.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | by Application (Predictive Maintenance, Warranty Analytic, Traffic Management, Usage-based Insurance, Safety and Security Management, Infotainment Driver and User Behaviour Analysis, Dealer Performance Analysis, Road Charging), by Component (Software, Services), by End user (Original Equipment Manufacturers (OEMs), Service Providers, Fleet Owners, Automotive Dealers, Insurers, Regulatory Bodies), By Deployment Model (On-Premises, On-Demand) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | SAP SE (Germany), Genetec (Canada), Microsoft Corporation (US), IBM Corporation (US), Inseego (US), CloudMade (Ukraine), Agnik LLC (US), Intelligent Mechatronic Systems (Canada), Harman International Industries, Inc. (US), Teletrac Navman (US), Inquiron (US), Automotive Rentals (US), and others are among the leading players in the vehicle analytics market. |
| Key Drivers | • The growing requirement for real-time analysis of data received from sensors and GPS tracking devices is a major driver. • Another key element fueling the growth of the vehicle analytic market is technological advances. • Use of cloud-based technology for smart fleet management systems is increasing. |
| RESTRAINTS | The market's growth is hampered by high installation costs and data security concerns. Growing concerns about cybersecurity could stifle market expansion. |
Ans:- The market size is expected to reach USD 25.87 billion by 2031.
Ans:- The global market for automotive analytics is strongly influenced by the affordability and cloud-based nature of this technology.
Ans:- By End User, the OEMs category is anticipated to gain traction throughout the projected period and dominate the worldwide Vehicle Analytics market.
Ans:- Yes.
Ans:- North American region is anticipated to be the primary driver of the market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Vehicle Analytics Market Segmentation, by Application
8.1 Predictive Maintenance
8.2 Warranty Analytic
8.3 Traffic Management
8.4 Usage-based Insurance
8.5 Safety and Security Management
8.6 Infotainment
8.7 Driver and User Behaviour Analysis
8.8 Dealer Performance Analysis
8.9 Road Charging
9. Global Vehicle Analytics Market Segmentation, by Component
9.1 Software
9.2 Services
10. Global Vehicle Analytics Market Segmentation, by End user
10.1 Original Equipment Manufacturers (OEMs)
10.2 Service Providers
10.3 Fleet Owners
10.4 Automotive Dealers
10.5 Insurers
10.6 Regulatory Bodies
11. Global Vehicle Analytics Market Segmentation, by Deployment Model
11.1 On-Premises
11.2 On-Demand
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Microsoft Corporation (US)
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 SAP SE (Germany)
13.3 Genetec (Canada)
13.4 Microsoft Corporation (US)
13.5 IBM Corporation (US)
13.6 Inseego (US)
13.7 CloudMade (Ukraine)
13.8 Agnik LLC (US)
13.9 Intelligent Mechatronic Systems (Canada)
13.10 Harman International Industries
13.11 Inc. (US)
13.12 Teletrac Navman (US)
13.13 Inquiron (US)
13.14 Automotive Rentals (US)
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share analysis
14.3 Recent Developments
15. Conclusion
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