Press release
Demand for Vehicle Analytics Market Driven by Shifting Consumer Perceptions and Growing Awareness
Vehicle Analytics is the study of vehicle behavior and characteristics via inputs from sensors affixed on-board vehicle, allowing users to have a better control of the vehicle and the fleet as a whole by identifying suspicious behavior and identifying the vehicle health to avoid breakdowns. Vehicle Analytics can also help users gain insight on vehicle health and driving habits. Granular level analysis of vehicle behavior and driver behavior in real time is useful to numerous industry players such as automobile manufacturers, insurance providers and car dealerships and vehicle analytics solutions are thus being developed by numerous providers currently.
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Vehicle Analytics Market: Drivers & Challenges
Numerous companies including Google, Uber and Tesla are working on Autonomous cars which will use countless data points to eliminate human effort in the task of driving. These cars while still in research phase will be a prominent user of Vehicle Analytics. Vehicle Analytics will also gain considerably from the developments underway in IoT and Smart Cities as Vehicle Analytics platforms will have more data to generate insights from in conjunction with the surrounding environment that can interact better with a car. However, Automobile industry has gone through remarkable changes in the recent decade and cars have improved in a lot of areas making them more durable than ever. This is impeding the growth sale of new vehicles in turn resulting in lower addressable market for Vehicle Analytics platforms.
Vehicle Analytics Market: Segmentation
Segmentation of Vehicle Analytics Market, By Component
• Vehicle Analytics Software Platform:
o Software Platforms are implemented at the end-point as well as the central control point and are responsible for the overall control of the system.
• Professional & Consulting Services
• Managed Services
Vehicle Analytics Market: Regional Overview
Asia Pacific is expected to lead the Vehicle Analytics market in terms of market share. The growth of Vehicle Analytics market in Asia Pacific will be fuelled by the development in Smart Cities, Iot and other smart technologies. Moreover the region is also witnessing a substantial growth in average income levels and many local and international cab aggregators have developed in the region.
Vehicle Analytics Market: Competitive Landscape
• Key Contracts/Agreement/Acquisitions
o In October 2017 Azuga, a provider of connected vehicle and fleet technologies partnered with Azuga to implement a Vehicle Analytics solution into over 300 vehicles to improve fleet safety management and encourage safe driving behaviors.
• Key Players
o The major players in Vehicle Analytics market include
o Genetec Inc.
o Microsoft Corporation
o Inquiron
o Azuga
o SAS Institute
o Harman International
o IBM Corporation
o SAP
o Xevo
o Cloudware and Rapidminer.
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