Vehicle Analytics Global Market- Overview
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. Development in AI technology, high adoption rate of embedded in-vehicle connectivity, and growing market of smart technology are some of the factors driving the growth in vehicle analytics market globally. However, high initial cost, and data security concern among users is expected to hinder the market growth in coming years.
The market position analysis is derived by considering various factors such as financial position, segmental R&D investment, brand value, product portfolio, strategy analysis, and key innovations in Vehicle Analytics market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between on the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position
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.
SAP SE (Germany), Genetec (Canada), Microsoft Corporation (U.S.), IBM Corporation (U.S.), CloudMade (Ukraine), Intelligent Mechatronic Systems (Canada), Harman International Industries, Inc. (U.S.), Teletrac Navman (U.S.), Inseego (U.S.), Agnik LLC (U.S.), Inquiron (U.S.), Automotive Rentals (ARI) (U.S.) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Vehicle Analytics market.
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Vehicle Analytics Global Market- Segmentation
The Vehicle Analytics Market can be classified into four key segments as follows:
Segmentation by Component: Software and Services (Professional (deployment & integration, support & maintenance and consulting), and managed).
Segmentation by Deployment: On-Premise, On-Cloud.
Segmentation by Application: Predictive Maintenance, Traffic Management, Warranty Analytics, Infotainment, Usage Based Insurance, Road Charging, Dealer Performance Analysis, Safety & Security Management, and Driver & User Behaviour Analysis
Segmentation by End-Users: Travel & Hospitality, Service Providers, Automotive Dealers, Fleet Owners, Insurers, and Others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Vehicle Analytics Global Market- Regional Analysis
By region, North America, followed by Europe is leading the global vehicle analytics market in 2017. North America is a technically advanced region, and has well-established & financially intensive economy. Also, the presence of leading players such as IBM Corporation, Microsoft Corporation, Google Inc. and others is supporting the development of vehicle analytics in the region. Increasing population and growing economies have accelerated the pace of passenger cars’ demand in Asia-Pacific region. Economic meltdown in Europe and North America acted as a catalyst for the already growing automobile industry in Asia-Pacific and many European & American automobile manufacturers shifted their production plants to developing countries. Rising population, various economies ranging from developing to developed, and other government policies to promote industrial growth have made the Asia-Pacific region a perfect destination for automobile manufacturers to setup their facilities thereby Asia Pacific has considered as a fastest growing market for vehicle analytics during the forecast period.
Industry News and Development
March 2018 – CarStory, a growing automotive AI platform, introduced new version of inventory intelligence solution named as “CarStory Insights”. The latest version combines AI and machine learning technology which is expected to provide more precise market insights.
October 2017 – Renovo, a mobility software company, partnership with INRIX, a leading service provider for connected services and transportation analytics. The partnership is done to innovate automated vehicle analytics solutions. Under this partnership, INRIX will integrate their white-label digital dashboard platform “Open Car” into Renovo HAVs (highly automated vehicle) powered by Aware which is expected to provide a platform for developers to innovate passengers hailing and riding applications
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- Technology Investors
- Research/Consultancy Firms
- Infrastructure Providers
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
- OEM technology solution providers
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