Vehicle Analytics market report also makes available a detailed overview about product specification, technology, product type and production analysis by taking into consideration other major factors such as revenue, cost, and gross margin. All the data and information described here aids businesses in refining their strategic decision making. This market report studies the market and the industry comprehensively by considering several aspects. This can be subjected to the moves of key players or brands which include developments, product launches, joint ventures, mergers and acquisitions that in turn change global face of the industry.
Global Vehicle Analytics Market is set to witness a healthy CAGR of 24.04% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to upgradation and advancement in the technologies and improves safety provided by vehicle analytics is expected to contribute to the growth of the market.
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Global Vehicle Analytics Market 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), Component (Software, Services), Deployment Model (On-Premises, On-Demand), Organization Size (Small and Medium Enterprises, Large Enterprises), End User (Original Equipment Manufacturers, Service Providers, Automotive Dealers, Fleet Owners, Regulatory Bodies, Insurers), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Major Market Competitors/Players
Few of the major competitors currently working in the global vehicle analytics market are Microsoft, IBM Corporation, IMS, Inseego Corp, SAP SE, CloudMade, Teletrac Navman US Ltd., AGNIK LLC, ARI Fleet Management Company, Inquiron, HARMAN International, Genetec Inc., INRIX, WEX Inc., Noregon, Xevo, Azuga, PROCON ANALYTICS, The Infinova Group, KEDACOM, Acerta Analytics Solution Inc., 3rd Eye Truck Cameras, NOVATION ANALYTICS and Amplify Mindware Pvt. Ltd. among others.
Global vehicle analytics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global vehicle analytics market for Global, Europe, North America, Asia Pacific, South America and Middle East and Africa.
Key Developments in the Market:
- In April 2019, Xevo announced that it has completed its acquisition deal and is now acquired by Lear Corporation. It will enable the combination of user friendly interface with cloud based technology through which a driver can interact with the application using real-time data. This acquisition will expand the Xevo in-vehicle data monetization as well as connected car platforms and it will increase the offering of the company with recurring revenues
- In June 2017, Admobilize has entered into a partnership with Smartlink to provide vehicle analytics solutions. They will offer the plug and play unit for vehicle count as well as speed data for customers. This partnership will establish Smartlink as the industry leader through which the company will be able to increase their revenues by acquiring more customers.
High points of the report
1. CAGR values in the Vehicle Analytics market for the forecast period
2. Key trends in the market place
3. Vehicle Analytics Major players and brands
4. Drivers and restrains of the market
5. Competitive landscape
6. Potential and niche segments/regions exhibiting promising growth
- The various technological innovations done to enhance fleet maintenance with the help of AI and machine learning is driving market growth
- The GPS tracking device and sensors provide the real time data of the users which act as a driving factor for the market
- The growing adoption of vehicle telematics is contributing to the growth of the market
- The public safety and security concerns have seen growth globally which is boosting the market growth
- The IP-based security systems has been in high demand which has contributed to market growth
- The unstructured video data has increased in volume which has increase the market growth
- The limitations arising from network coverage act as restraint in the market growth
- The initial setup of the technology requires high investment which hampers the market growth
- The increase in the number of false alarm alerts is hindering the growth of the market
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On the basis of component:- software, services, and managed services.
Sub segment:– professional services.
Sub segment:- Deployment and integration, support and maintenance, and consulting services.
On the basis of deployment model:- Premises, on-demand.
On the basis of 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.
On the basis of end-user:- Banking, financial services, and insurance, government, real estate, media and entertainment, telecom, retail and ecommerce, education, travel and hospitality, healthcare
On the basis of geography:- North America, South America, Europe, Asia-Pacific, and Middle East & Africa. U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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