Vehicle Analytics Market Technology Growth and Business Outlook 2022 to 2027

The Vehicle Analytics Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Vehicle Analytics Market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Vehicle Analytics Market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Vehicle Analytics Market.

The vehicle analytics market was valued at USD 1.74 billion in 2019 and is expected to reach a value of USD 6.34 billion by 2027 at a CAGR of 24.3% over the forecast period from 2022 to 2027. 

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Top Leading Companies of Vehicle Analytics Market are - SAP SE, Cloudmade Ltd, Genetec Inc., HARMAN International Industries Inc. (Samsung Electronics Co. Ltd), IBM Corporation, Inquiron Ltd, Intelligent Mechatronic Systems Inc., Teletrac Navman US Ltd and others.

Industry News and Updates:

- March 2022 - Genetec announced the availability of its next-generation mobile license plate recognition system. The new AutoVu SharpZ3 goes beyond traditional license plate identification and brings unique insight into vehicle analytics, situational awareness, and accuracy. It utilizes Intel's latest machine learning and computer vision technology to unlock new insights through analytics.

- November 2019 - IBM partnered with ElectraLink and Western Power Distribution (WPD) to commence the Virtual Monitoring (VM) Data project. The project will investigate the feasibility of creating half-hourly load profiles for WPD customers, including those with electric vehicles and LCTs installed, which can be fed into a VM tool for WPD's local network, using cognitive analytics, various data sets, and proof of concept models. It will use IBM's advanced analytics services and IBM Watson Studio.

Key Market Trends:

Predictive maintenance is Expected to Hold Significant Share

- As automakers are continually assessing the vehicle part's performance in real-time through sensors, it unlocks the opportunity toward a predictive maintenance approach. Using predictive maintenance, data can be pulled out from a majority of the 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, limiting the fallout from large-scale recalls, minimizing unnecessary wrench time, and potentially saving lives in the process. The Defense Innovation Unit (DIU) plans to bring predictive maintenance to the Navy, aimed at keeping naval, aircraft, and ground vehicles online and avoiding costly last-minute repairs. This will help in a greater understanding of a vehicle's life and health since it is critical for the military.

Asia-Pacific is Expected to Register Highest Market Growth in the Forecast Period

- Asia-Pacific is the fastest-growing region since it is witnessing a growing dominance of connected and autonomous vehicles. Also, increasing the penetration of new technology companies making ways into the automotive industry is expected to lead to a new automotive analytics era. China laid out a plan to have at least 30 million autonomous vehicles within a decade until 2028 which is expected to drive automobile analytics demand. The government has been very active in terms of adopting technology to help policy implementation. China is also planning to ease quotas designed to boost the production of electric cars, in an attempt to help automakers revive its sales.

Investigator Observers Strong Growth in Specific Regions:

- Europe Market (Germany, UK, France, Russia, Italy)

- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

- South America Market (Brazil, Argentina, Colombia)

- North America Market (United States, Canada, Mexico)

- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Vehicle Analytics Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Vehicle Analytics Market (%),2016 - 2026
- Vehicle Analytics Market Share, By Brand
- Vehicle Analytics Market Share, By Company
- Vehicle Analytics Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Vehicle Analytics Market Value Analysis & Forecast
- Promising Vehicle Analytics Market Development by Major Companies
- Detailed Vehicle Analytics Market Portfolio of the Major Companies
- Major Deals in the Vehicle Analytics Market
- Major Companies Analysis

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