The Vehicle Analytics by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/vehicle-analytics-global-market-report
According to The Business Research Company’s Vehicle Analytics , 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 growth in the historic period can be attributed to telematics adoption, safety and security concerns, predictive maintenance, regulatory compliance, urbanization and traffic management.
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%. The growth in the forecast period can be attributed to autonomous vehicle development, environmental sustainability, focus on driver and passenger experience, consumer demand for advanced features, shift towards mobility services.. Major trends in the forecast period include rise of connected vehicles, telematics integration, fuel efficiency optimization, integration with fleet management solutions, smart cities and traffic management, collaboration with oems and automotive suppliers.
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.
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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
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 report table of contents includes:
1. Executive Summary
2. Vehicle Analytics Market Characteristics
3. Vehicle Analytics Market Trends And Strategies
4. Vehicle Analytics Market – Macro Economic Scenario
5. Global Vehicle Analytics Market Size and Growth
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26. South America Vehicle Analytics Market
27. Brazil Vehicle Analytics Market
28. Middle East Vehicle Analytics Market
29. Africa Vehicle Analytics Market
30. Vehicle Analytics Market Competitive Landscape And Company Profiles
Top Major Players:
- SAP SE
- International Business Machines Corporation
- Microsoft Corporation
- Genetec Inc
- Cloud Made Ltd
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