Vehicle Analytics Market

Complete Analysis of Vehicle Analytics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. The advancement in technologies and enhanced safety provided by vehicle analytics are expected to be the major factors contributing to the growth of the Global Vehicle Analytics Market.

Brandessence Market Research has published a new report title and According to Study “Vehicle Analytics Market is valued at USD 2306.7 Million in 2020 and expected to reach USD 11565.7 Million by 2027 with a CAGR of 25.9% over the forecast period”.

Scope of Global Vehicle Analytics Market Report:

With the vehicles generating volumes of knowledge in seconds, the chance to deliver superior customer experiences and business processes is becoming more significant than before. At present, cars account for a minimum of 50 sensors designed to gather more detailed information, like speed, emissions, distance, resource usage, driving behavior, and fuel consumption. The generated data gives the automotive industry stakeholders to use it for further analysis, create relation analysis, and enable better utilization. With the congestion of city streets and sidewalks, city planners face new safety challenges, like distracted pedestrians, more bicyclists, and a rise in public transportation. And, regime agencies and transportation departments are tapping video analytics solutions to investigate real-world data regarding traffic patterns and road conditions.

The analysis of varied parameters, areas with poor road conditions, and bottlenecks that make traffic delays may be identified. Thus, it is aiding in the planning and prioritization of improvements. Moreover, the market is anticipated to grow, due to the rising adoption of predictive analytics, which has been a logical upgrade for the end-users, who have adopted some means of automation and data collection solutions.

The predictive analytics applications enable the end-users in evaluating prior patterns and driving behavior, arriving at the choice on the likelihood of varied future possibilities. Apart from this, growth within the connected car industry is anticipated to supply a big number of challenges, and as well as opportunities to the automotive sector, including analytics, and it's been an enormous impetus for innovations. Also, vehicle connectivity allows the vehicles to interact, navigate, and collaborate without human mediation and enables analyzing collected data. By leveraging advanced sensors, enhanced connectivity, and large and high-speed data, predictive analytics can help eliminate vehicle accidents.

Due to the spread of COVID-19, it's expected that owned car usage is probably going to surpass carpooling to prevent the spread of the virus and maintain social distancing. This might further increase the knowledge being generated for vehicle analytics. However, the installation of car analytics solutions in new cars wouldn't witness significant growth. Because of the economic slowdown, the sales of automobile vehicles have suffered which have shown a negative impact on this market.

Global Vehicle Analytics Market Segmentation:

The global vehicle analytics market is segmented based on component, application, end-user, and region & country level. Based on components, the market is classified into software and service. Based on application, the market is classified into predictive maintenance, warranty analytics, traffic management, safety and security management, and others. Based on end-user, the market is classified into original equipment manufacturers (OEMs), service providers, automotive dealers, fleet owners, and others

By Component:

• Software
• Service

By Application:

• Predictive Maintenance
• Warranty Analytics
• Traffic Management
• Safety and Security Management
• Others

By End-User:

• Original Equipment Manufacturers (OEMs)
• Service Providers
• Automotive Dealers
• Fleet Owners
• Others

The regions covered in this global Vehicle Analytics Market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of Vehicle Analytics is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.

Key Players for Global Vehicle Analytics Market Report:

Some major key players for Global Vehicle Analytics Market are

• Genetec Inc.
• Microsoft Corp.
• Inquiron Ltd
• IBM Corporation
• SAS Institute Inc.
• Agnik Llc
• Acerta Systems Analytics Inc.
• Amodo Ltd.
• Automotive Rentals Inc.
• others.

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News: IMS Launched Vehicle Data Exchange to Produce Complete Connectivity Service for Accessing Vehicle Data

February 10^th, 2021; IMS launched the IMS Vehicle Data Exchange, a replacement service which provides live, real-time access to vehicle insights and mobility data from OEM-embedded hardware and any aftermarket device, including the sole one-stop solution for all aftermarket connectivity options. Leasing, rental, and fleet companies grapple constantly with the price and complexity involved in getting data from fleets with a various mixture of brands, models, and telemetry technology. Ultimately, spending an excessive amount of time focused on building bespoke data access solutions can distract organizations from evolving the customer experience and negatively impact operational efficiencies.

Rising Demand for Connected Vehicles and Enhanced Safety Provided by Vehicle Analytics are Some of the Major Factors Driving the Market Growth 

The major factor driving the growth of global vehicle analytics market is the increasing demand for connected vehicles and the rising use of the internet worldwide. In addition, the rising number of technological advancements in the vehicle analytics and automotive industry are also supplementing the market growth. As automakers are continually assessing the vehicle part's performance in real-time through sensors, it unlocks the chance towards a predictive maintenance approach. Using predictive maintenance, data may be pulled out from a majority of the vehicles of a given year and model, and the information is compared with warranty repair trends.

These trending issues are carefully observed and addressed, limiting the fallout from large-scale recalls, minimizing unnecessary wrench time, and potentially saving lives within the process. A recent study by the Technology & Maintenance Council and Fleet Net America found that the price of an unscheduled truck repair was USD 407 within the third quarter of 2019, 24% above mechanical maintenance within the same quarter in 2018. Five vehicle components accounted for 64% of all roadside repairs experienced by participating fleets, like tires, brakes, lighting, power plants, and cooling systems.

In addition, the enhanced safety provided by vehicle analytics is also a major factor fostering the growth of this market. Predictive Analytics is a powerful tool for the International Road Traffic Safety Analysis and Data Group (IRTAD), whose analysis confirms the very strong relationship between speed and crash risk. When average speed increases by 1%, the amount of fatal crashes goes up 4%. However, as the technology is new  & its reach is lesser especially in developing countries can hamper the growth of the market. In spite of that, an increasing number of offerings in this field may provide various opportunities for the further growth of the market. Bottom of Form

The Asia Pacific is Expected to Witness the Fastest Growth in the Global Vehicle Analytics Market

The global vehicle analytics market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. Asia pacific is expected to witness the fastest growth in the global vehicle analytics market within the forecast period attributed to the increasing demand for connected and autonomous vehicles. Also, increasing penetration of latest technology companies making ways into the automotive industry is anticipated to guide to a brand new automotive analytics era. China laid out a concept to possess a minimum of 30 million autonomous vehicles within a decade until 2028 which is anticipated to drive automobile analytics demand. The government has been very active in terms of adopting technology to assist policy implementation. China is additionally going to ease quotas designed to spice up the assembly of electrical cars, in an effort to assist automakers revive its sales. The Chinese State Council issued a Three-Year Action Plan for the Battle of the wild blue yonder, accelerating the company's blue Plan.

Europe is currently holding a substantial amount of market share within the market on account of the presence of key luxury automotive manufacturers within the region. Furthermore, European companies are spending heavily on autonomous and connected vehicles. Thus, the rapid spending within the offering of autonomous technology is taken into account together of the prime factors for the expansion of the market within the European region this owes to the infrastructural development and increase in outsourcing of research activities to the contract research organizations (CROs) at relatively low cost during this region.

  Report Coverage

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2027
Market Size in 2020:	USD 2306.7 Million
Base year considered	2020
Forecast Period CAGR %:	25.90 %
Market Size Expected in 2027:	USD 11565.7 Million
Tables, Charts & Figures:	175
Pages	200
Key Players/Companies	Genetec Inc., Microsoft Corp., Inquiron Ltd, IBM Corporation, SAS Institute Inc., Agnik Llc, Acerta Systems Analytics Inc., Amodo Ltd., Automotive Rentals, Inc., and others
Segments Covered	By Component, By Application, By By End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits for Global Vehicle Analytics Market Report

• Global Vehicle Analytics report covers in-depth historical and forecast analysis.
• Global Vehicle Analytics research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
• Global Vehicle Analytics report helps to identify opportunities in the marketplace.
• Global Vehicle Analytics report covers extensive analysis of emerging trends and competitive landscape.

On Special Requirement Vehicle Analytics Market Report is also available for below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

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