Vehicle analytics market is expected to grow in the coming years

The report published by Knowledge Sourcing Intelligence titled “Vehicle Analytics Market - Forecasts from 2019 to 2024” studies the various factors affecting the demand for vehicle analytics solutions among end-users worldwide. The market has been segmented by component (software, services), deployment model (on-premise, cloud), and application (predictive maintenance, traffic management, driver and user behavior analysis, others).
Furthermore, the demand for vehicle analytics has been estimated across all major geographies namely North America, South America, Europe, Middle East and Africa and the Asia Pacific. To give a clearer view of this market across these geographies, the regional market is further segmented into countries which account for a significant share in the market. The growth of this market is being driven by the rapid growth of the e-commerce sector which is pushing industry players towards advanced technologies in order to improve their offerings. Growing competition among players in this sector is has led to an increase in their focus towards streamlining their business processes by digitizing them. Impressive ROE offered by vehicle analytics solutions have been attracting end users towards them, thus boosting the growth of this market. Growing demand for ride-hailing and sharing services in many regions is further driving the growth of this market.

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By deployment model, cloud holds a major market share

Deployment of vehicle analytics solutions on cloud has been witnessing an impressive year-on-year growth. This shift towards cloud is majorly being fueled by increasing focus of end users towards improving operational efficiency and increasing profit margins. Deployment of these solutions on the cloud allows them to cut back on their investments in IT workforce and regular maintenance of solutions, which is needed in on-premise deployment. Continuous improvements in wireless communication technologies have also been supporting this migration of end-users towards the cloud, thus boosting the growth of the market in this sub-segment.

Enterprises in North America and Europe continue to show an impressive rise in the adoption of vehicle analytics

North America and Europe together hold the largest market share among all major geographies worldwide. The rapid growth of cloud computing, and the availability of state-of-the-art infrastructure, which is favorable for the deployment of advanced technologies, is driving the market growth in these regions. The market in the Asia Pacific is expected to grow at an impressive growth rate over the forecast period. The growth of this market in this region will be attributed to the rapid growth of the retail industry and increasing investments in infrastructure development in many countries.

This report also includes a study of strategies and product portfolios of some of the leading companies in the vehicle analytics market. Major companies profiled as a part of this report are SAP, Genetec Inc., Microsoft, IBM, Cloudmade, Intelligent Mechatronic Systems, Inc., HARMAN International, Teletrac Navman US Ltd, Inseego Corp., Agnik LLC, and Inquiron.

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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.

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This release was published on openPR.