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Vehicle Analytics Market 2024-2033: Global Outlook, Business Statistics, Latest Trends And Major Players
Vehicle Analytics Market
As per the report, the vehicle analytics market size has grown exponentially in recent years. It will grow from $3.19 billion in 2023 to $3.91 billion in 2024 at a compound annual growth rate (CAGR) of 22.6%. The vehicle analytics market size is expected to see exponential growth in the next few years. It will grow to $8.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%.
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Rising Number Of Connected Vehicles Drives Growth In Vehicle Analytics Market
The growing dominance of connected vehicles is significantly contributing to the growth of the vehicle analytics market. Connected vehicles are the type of vehicles that are capable of connecting to nearby devices to communicate over networks. Growing connected vehicles are resulting in the rising need for vehicle analytics to offer various features such as warranty analytics, predictive maintenance, dealer performance analysis, and others. For instance, according to Connected Vehicle Trend Radar, a global study by Capgemini, a France-based information technology company, the number of connected cars is predicted to reach 352 million by end of 2023. Therefore, the growing dominance of connected vehicles expected to promote the vehicle analytics market growth.
Technological Innovations Enhance Vehicle Analytics Market With Ai And Machine Learning
Technological advancements are shaping the vehicle analytics market. Artificial intelligence and machine learning technologies in vehicle analytics provide enhanced and faster decision-making and predict vehicle health and driving habits. The major players in the market are launching advanced technologies to provide real-time feedback to drivers. For instance, in September 2021, Maruti Suzuki India Limited, an India-based automobile manufacturer, introduced S-Assist, an artificial intelligence-based virtual car assistant application. The S-Assist app provides multi-media content such as video and workshop assistance, easy navigation, and information on warning signs using artificial intelligence and machine learning capabilities which enhance the driving experience by bring real-time information to their smartphones.
The vehicle analytics market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment Model: On-Premises, On-Demand
3) By Application: Predictive Maintenance, Warranty Analytics, Traffic Management, Safety And Security Management, Driver And User Behaviour Analysis, Dealer Performance Analysis, Infotainment, Usage-Based Insurance, Road Charging
4) By End-User: Original Equipment Manufacturers (OEMs), Service Providers, Automotive Dealers, Fleet Owners, Regulatory Bodies, Insurers
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Major companies operating in the vehicle analytics market report are SAP SE, International Business Machines Corporation, Microsoft Corporation, Genetec Inc., Cloud Made Ltd., Harman International Industries Inc., Teletrac Navman, Agnik LL, Pivotal Software Inc., SAS Institute Inc., Acerta Systems Analytics Inc., Amodo Ltd., INRIX Inc., Inseego Corp., Automotive Resources International Fleet Management Company, Continental AG, Google Inc., Cisco Systems Inc., Drust Vehicle Analytics, Sight Machine Inc., Fair Isaac Corporation, Bosch Software Innovations GmbH, Experian plc, WABCO Holdings Inc., Trimble Inc., TomTom International B. V., Airbiquity Inc., Pivotal Software Inc., Oracle Corporation, Mix Telematics Ltd.
Contents of the report:
1. Executive Summary
2. Vehicle Analytics Market Report Structure
3. Vehicle Analytics Market Trends And Strategies
4. Vehicle Analytics Market - Macro Economic Scenario
5. Vehicle Analytics Market Size And Growth
…..
27. Vehicle Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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