Vehicle Analytics Market Size US$ 7.27 Billion, Growth Rate (CAGR) of 25.77%, Top Companies and Forecast Report 2027

IMARC Group has recently released a new research study titled "Vehicle Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

The global vehicle analytics market size reached US$ 1.84 Billion in 2021. Looking forward, IMARC Group expects the market value to reach US$ 7.27 Billion by 2027, expanding at a CAGR of 25.77% during 2022-2027. Vehicle analytics represents a technology that tracks real-time information from vehicles and provides it to the user or the manufacturer. It aids in vehicle counting, tracking, brand detection, road condition inspection, and incorrect direction detection. Vehicle analytics also assists in determining the current state of a vehicle and the driving methods used by the driver. Besides this, as it improves the efficiency and safety of the overall driver experience, the demand for this solution is escalating across the globe.

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Global Vehicle Analytics Market Trends:

The inflating digitization in the automotive sector, as it delivers detailed information about speed, distance, emissions, resource usage, driving behavior, and fuel consumption, and the rising sales of vehicles are among the key factors stimulating the vehicle analytics market. Moreover, the increasing congestion on city streets and sidewalks has resulted in numerous safety challenges, including distracted pedestrians and the escalating number of bicyclists, which is acting as another significant growth-inducing factor. Besides this, government bodies of several countries are encouraging the adoption of vehicle analytics solutions to analyze real-world data about traffic patterns and road conditions is positively influencing the global market. Furthermore, the elevating usage of this solution enables drivers to obtain an analysis of areas with poor road conditions and bottlenecks that create traffic delays is also propelling the market growth. Apart from this, vehicle analytics provides an alert to the owner beforehand about the potential requirement of maintenance before a breakdown can occur, which helps in minimizing road accidents across the globe that are caused, on account of human negligence in the timely service and maintenance of vehicles, is further fueling the global market. Additionally, the growing utilization of this solution to keep naval, aircraft, and ground vehicles online and avoid costly last-minute repairs is anticipated to fuel the vehicle analytics market over the forecasted period.

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Vehicle Analytics Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the vehicle analytics market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Agnik LLC
CloudMade (Valeo)
Continental AG
Genetec Inc.IMS
Insurance & Mobility Solutions)
Inquiron
Inseego Corp International Business Machines Corporation
Microsoft Corporation
Samsung Electronics Co. Ltd
SAP SE and Teletrac Navman US Ltd

Key Market Segmentation:

The report has segmented the vehicle analytics market on the basis of component, deployment mode, application and end user

Breakup by Component:

Software
Services

Breakup by Deployment Mode:

On-premises
Cloud-based

Breakup by Application:

Dealer Performance Analysis
Driver and User Behaviour Analysis
Predictive Maintenance
Safety and Security Management
Traffic Management
Usage-based Insurance

Breakup by End User:

Original Equipment Manufacturers (OEMs)
Insurers
Automotive Dealers
Regulatory Bodies
Fleet Owners

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

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Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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