Vehicle Analytics Market by Production, Import, Export and Consumption Forecast and Regional Analysis by 2023

Vehicle Analytics Market in 360MarketUpdates.com

Global Vehicle Analytics Market Report assists the Industry experts, analysts and business decision makers to isolate the current market scenario, opportunities, upcoming market trends and pricing analysis. The Vehicle Analytics Market report provides crucial information about the market, including Opinions from Industry experts, and the recent progressions and developments of the Vehicle Analytics industry.

The Vehicle Analytics market report gives Analysis of incomes, limits and benefits of Key Manufacturers including the market holdings, offers of units, income dispersion, and the measures that have been taken to overcome the issues faced.

The Vehicle Analytics market was valued at USD 1.12 billion In 2017 and is expected to grow at a CAGR of 24.2% during the forecast period (2018 – 2023), to reach USD 4.14 billion by 2023. Vehicle analytics has applications such as in predictive maintenance, safety and security management, driver performance analysis, amongst various others. The end-users of this technology are OEM’s, regulatory bodies, insurers, amongst various others. The scope of our study is geographically limited to North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Automobiles are being transformed by technologies, applications, and services through the adoption of various things such as sensors, artificial intelligence, and big data analysis. With vehicles nowadays generating gigabytes of data in moments, the opportunity to deliver exceptional customer experiences and business process is more significant than ever. Apart from this, growth in the connected car industry is expected to provide a significant number of challenges as well as opportunities to the automotive sector, including analytics. Cars of the future cars are poised to show immense intelligence with prodigious connectivity. Also, data analytics will allow the vehicles to interact, navigate, collaborate without human mediation, and create a vast volume of data. Apart from this, use of vehicle telematics, and advancements in machine learning and AI are expected to fuel the market growth. However, the high cost of this technology can limit the penetration to high-end luxury cars and is expected to challenge the vehicle analytics market.

Rising Demand for Predictive Maintenance to Augment the Market

As automakers are constantly assessing the performance of the vehicle part in real time through sensors, this unlocks the opportunity towards a predictive maintenance approach. Using predictive maintenance, data can be pulled out from vehicles of a given year and model and that information can be compared with warranty repair trends. These trending issues are carefully observed and addressed, which limits the fallout from large-scale recalls, minimizing unnecessary wrench time, and potentially saving lives in the process. Access to massive datasets adds further value to predictive analytics as automotive companies will be able to help connected vehicle to spend more time on the road and less time in the shop. In addition, the vehicle analytics market is still an open place for advanced predictive solutions as it is still dominated by simplistic predictive maintenance solutions, which monitors wear and usage of clutches, brake pads and similar wear-out apparatus is monitored and projections are made about the future.

Asia-Pacific Expected to Witness the Fastest Growth

The region is witnessing a growing dominance of connected and autonomous vehicle. Also, an increasing penetration of new technology companies making ways into the automotive industry is expected to lead to a new era of automotive analytics. China’s ambition to have at least 30 million autonomous vehicles within a decade (2018-2028) is expected to drive the demand for automobile analytics. Apart from the taxis, Nissan and automakers in the country have an aim to bring semiautonomous vehicles to city streets by 2020, the year in which the Summer Olympics will take place in Tokyo. However, countries such as India, where the government has completely rejected the idea of autonomous vehicles on its roads, the vehicle analytics market is expected to be driven by adoption in high end cars.

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Top Vehicle Analytics Manufacturers Covered in this report:

  • SAP SE
  • Cloudmade
  • Genetec Inc. 
  • HARMAN International
  • IBM Corporation
  • Inquiron Ltd.
  • Intelligent Mechatronic Systems Inc.
  • Microsoft Corporation
  • Teletrac Navman US Ltd

Significance of Vehicle Analytics Market report:

  1. Know more about Vehicle Analytics industry plans that are now being comprised by major manufacturers in the market.
  2. The assessed growth rate of Vehicle Analytics by size & share on the forecast period 2018-2023.
  3. The unique aspects anticipated to induce Vehicle Analytics market for its forecasted period of 2023.
  4. To understand the Vehicle Analytics industry scenario and its prospects.
  5. Strategies of leading Vehicle Analytics Industry players for evolving the plans for success in today’s competitive market.

Reasons to Purchase Vehicle Analytics Market Report

  • Current and future adoption outlook of vehicle analytics in the developed and emerging markets
  • Analysing various perspectives of the market with the help of Porter’s five forces analysis
  • The application that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in excel)

    Price of Report: $ 4250 (Single User License)

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    In the end the Vehicle Analytics Market report presents all the necessary data required to form resulting yielding business strategies for Industry experts, analysts and business decision makers to decide their business strategies and achieve proposed business aims.