Artificial Intelligence
Vehicle Analytics Market To Reach $6 Billion By 2026 Due To The Growing Dominance Of Connected Vehicles As Per The Business Research Company’s Vehicle Analytics Global Market Report 2022
LONDON, July 13, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the vehicle analytics market, the growing dominance of connected vehicles is significantly contributing to the growth of the vehicle analytics market. Connected vehicles are the types 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 the end of 2023. Therefore, the growing dominance of connected vehicles is expected to promote the growth of the vehicle analytics market.
The global vehicle analytics market size is expected to grow from $2.17 billion in 2021 to $2.66 billion in 2022 at a compound annual growth rate (CAGR) of 22.4%. The vehicle analytics market share is expected to grow to $6.11 billion in 2026 at a CAGR of 23.1%.
Request for a sample of the global vehicle analytics market report
Technological advancements are among the important vehicle analytics industry trends. 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 October 2019, Zoomcar, an India-based self-drive car rental company, launched a vehicle model agnostic Driver Score Tech Stack, an AI-powered algorithm with machine learning capabilities that helps in tracking the mechanical specs and driving style of the customer and identifies critical events while driving the car. The scoring system gives a rating on a scale of 0-100 to give real-time feedback on the advent of rash driving to drivers and help them adjust their behavior.
Major players in the vehicle analytics market are SAP SE, IBM Corporation, Microsoft Corporation, Genetec Inc., Cloud Made Ltd., Harman International Industries Inc., Teletrac Navman, Agnik LLC, Pivotal Software Inc., SAS Institute, Acerta Systems Analytics Inc., Amodo Ltd., INRIX, Inseego Corp., ARI Fleet Management Company, and Continental AG.
The global vehicle analytics market analysis report is segmented by component into software, services; by deployment model into on-premises, on-demand; by application into predictive maintenance, warranty analytics, traffic management, safety and security management, driver and user behaviour analysis, dealer performance analysis, infotainment, usage-based insurance, road charging; by end-user into Original Equipment Manufacturers (OEMs), service providers, automotive dealers, fleet owners, regulatory bodies, insurers.
North America was the largest region in the vehicle analytics market in 2021. 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, the Middle East, and Africa.
Vehicle Analytics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide vehicle analytics market overviews, vehicle analytics market analyze and forecast market size and growth for the whole market, vehicle analytics market segments and geographies, vehicle analytics market trends, vehicle analytics market drivers, vehicle analytics market restraints, vehicle analytics market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Not the market you are looking for? Check out some similar market intelligence reports:
Connected Cars Global Market Report 2022 – By Product Type (Embedded, Tethered, Integrated), By Services (Driver Assistance, Safety, Entertainment, Well-Being, Vehicle Management, Mobility Management), By Application (Navigation, Infotainment, Telematics) – Market Size, Trends, And Global Forecast 2022-2026
Vehicle-To-Vehicle (V2V) Communication Global Market Report 2022 – By Vehicle Type (Passenger Cars, Commercial Vehicles), By Connectivity (Dedicated Short-Range Communication (DSRC), Cellular), By Deployment Type (Original Equipment Manufacturer (OEM) Devices, Aftermarket Devices), By Application (Traffic Safety, Traffic Efficiency, Infotainment, Payments, Other Applications) – Market Size, Trends, And Global Forecast 2022-2026
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
The World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
