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Vehicle Analytics Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Vehicle Analytics
What Is the Projected Growth of the Vehicle Analytics Market?
In the last few years, the size of the vehicle analytics market has expanded massively. It's anticipated to surge from $3.83 billion in 2024 to $4.65 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 21.4%. Factors responsible for this growth during the historical period include the uptake of telematics, concerns about safety and security, predictive maintenance, adherence to regulations, urbanization, and traffic control.
The forecast for the vehicle analytics market is extremely promising, with an expected surge in size over the next few years. It is predicted to grow to a staggering $10.4 billion by 2029 at a compound annual growth rate (CAGR) of 22.3%. This significant growth during the forecast period can be correlated to various factors such as the evolution of autonomous vehicles, environmental sustainability, improving driver and passenger experience, increasing consumer demand for enhanced features, and a shift towards mobility solutions. The forecast period also sees a rising trend in connected vehicles, integration of telematics, optimizing fuel efficiency, coordination with fleet management systems, growth of smart cities and advanced traffic management, as well as increased cooperation with OEMs and automotive suppliers.
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What Are the Different Vehicle Analytics Market Segments?
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 Behavior 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
Subsegments:
1) By Software: Fleet Management Software, Telematics Solutions, Predictive Maintenance Software, Driver Behavior Analysis Software, Vehicle Performance Analytics Tools
2) By Services: Consulting Services, Integration Services, Data Analysis Services, Support And Maintenance Services, Training Services
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What Are the Primary Drivers Shaping the Vehicle Analytics Market?
The increasing prevalence of connected vehicles is significantly driving the growth of the vehicle analytics market. These vehicles have the ability to link to proximate devices and communicate via networks. As the number of connected vehicles increases, the demand for vehicle analytics also rises in order to provide a range of features such as warranty analytics, predictive maintenance, dealer performance analysis, among others. For example, as per data shared by Cubic Telecom - an Ireland-based software-defined connected vehicle (SDCV) solution firm, in January 2023, it is anticipated that the growth of connected vehicles will witness a stunning increase of 91% between 2023 to 2027, with advanced driver assistance systems (ADAS) and infotainment at the forefront of this trend. Hence, the escalating predominance of connected vehicles is expected to stimulate the growth of the vehicle analytics market.
Which Companies Are Leading in the Vehicle Analytics Market?
Major companies operating in the vehicle analytics market include 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., Oracle Corporation, Mix Telematics Ltd.
What Are the Major Trends Shaping the Vehicle Analytics Market?
The vehicle analytics market is being influenced by technological advancements. The application of artificial intelligence and machine learning in vehicle analytics allows for improved and quicker decision-making and can help in anticipating vehicle condition and driving behaviour. Key participants in the sector are introducing cutting-edge technologies to provide instantaneous feedback for drivers. For example, in August 2024, INRIX, Inc., a company specializing in real-time traffic information and connected driving services based in the US, unveiled INRIX IQ Curb Analytics. This service includes features such as citywide curbside visualization, real-time and predictive information on curb occupancy, and incorporation with over 400 micromobility data sources. This allows cities to efficiently use curb space for parking, delivery services, and public transport. Their importance is demonstrated in the enhancement of urban mobility, alleviation of congestion and augmenting accessibility by offering a detailed digital representation of curb usage and promoting data utilization.
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What Are the Top Revenue-Generating Geographies in the Vehicle Analytics Market?
North America was the largest region in the vehicle analytics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vehicle analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Vehicle Analytics Market?
2. What is the CAGR expected in the Vehicle Analytics Market?
3. What Are the Key Innovations Transforming the Vehicle Analytics Industry?
4. Which Region Is Leading the Vehicle Analytics Market?
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