Vehicle Analytics market Report speaks about the Market analysis. The process is analyzed thoroughly with respect three points, viz. Types, Application and Manufacturers with associated Vehicle Analytics Cost Analysis (material cost, labour cost, etc.) and Vehicle Analytics market size.
Short Overview Of Vehicle Analytics Market Report
The Vehicle Analytics market was valued at USD 1.12 billion in 2017 and is expected to grow at a CAGR of 24.2% during the forecast period (2018 – 2023), to reach USD 4.14 billion by 2023. Vehicle analytics has applications such as in predictive maintenance, safety and security management, driver performance analysis, amongst various others. The end-users of this technology are OEMâs, regulatory bodies, insurers, amongst various others. The scope of our study is geographically limited to North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Automobiles are being transformed by technologies, applications, and services through the adoption of various things such as sensors, artificial intelligence, and big data analysis. With vehicles nowadays generating gigabytes of data in moments, the opportunity to deliver exceptional customer experiences and business process is more significant than ever. Apart from this, growth in the connected car industry is expected to provide a significant number of challenges as well as opportunities to the automotive sector, including analytics. Cars of the future cars are poised to show immense intelligence with prodigious connectivity. Also, data analytics will allow the vehicles to interact, navigate, collaborate without human mediation, and create a vast volume of data. Apart from this, use of vehicle telematics, and advancements in machine learning and AI are expected to fuel the market growth. However, the high cost of this technology can limit the penetration to high-end luxury cars and is expected to challenge the vehicle analytics market.
Rising Demand for Predictive Maintenance to Augment the Market
As automakers are constantly assessing the performance of the vehicle part in real time through sensors, this unlocks the opportunity towards a predictive maintenance approach. Using predictive maintenance, data can be pulled out from vehicles of a given year and model and that information can be compared with warranty repair trends. These trending issues are carefully observed and addressed, which limits the fallout from large-scale recalls, minimizing unnecessary wrench time, and potentially saving lives in the process. Access to massive datasets adds further value to predictive analytics as automotive companies will be able to help connected vehicle to spend more time on the road and less time in the shop. In addition, the vehicle analytics market is still an open place for advanced predictive solutions as it is still dominated by simplistic predictive maintenance solutions, which monitors wear and usage of clutches, brake pads and similar wear-out apparatus is monitored and projections are made about the future.
Asia-Pacific Expected to Witness the Fastest Growth
The region is witnessing a growing dominance of connected and autonomous vehicle. Also, an increasing penetration of new technology companies making ways into the automotive industry is expected to lead to a new era of automotive analytics. Chinaâs ambition to have at least 30 million autonomous vehicles within a decade (2018-2028) is expected to drive the demand for automobile analytics. Apart from the taxis, Nissan and automakers in the country have an aim to bring semiautonomous vehicles to city streets by 2020, the year in which the Summer Olympics will take place in Tokyo. However, countries such as India, where the government has completely rejected the idea of autonomous vehicles on its roads, the vehicle analytics market is expected to be driven by adoption in high end cars.
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Top key players:
- SAP SE
- Genetec Inc.Â
- HARMAN International
- IBM Corporation
- InquironÂ Ltd.
- Intelligent Mechatronic Systems Inc.
- Microsoft Corporation
- Teletrac Navman US Ltd
Main points include in This Market Research Report contains additional information of following points are as follows:
- Market growth
- Market Trends
- Market Forecast
- Market Size
- Cost Analysis
Reasons to Purchase Vehicle Analytics Market Report
Vehicle Analytics market along with Report Research Design:
Vehicle Analytics Market Historic Data (2013-2017):
- Industry Trends:Global Revenue, Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Vehicle Analytics Market Influencing Factors:
- Market Environment:Government Policies, Technological Changes, Market Risks.
- Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
Vehicle Analytics Market Forecast (2018-2023):
- Market Size Forecast:Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue):Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
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Trend and forecast analysis: Market trend, forecast and Analysis to 2023 by segments and region.
Segmentation analysis: Global Vehicle Analytics market size by various applications such as product, material, shape, and end use in terms of value and volume shipment.
Regional analysis: Global Vehicle Analytics market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions in the global Vehicle Analytics
Strategic analysis:This includes new product development, and competitive landscape in the global Vehicle Analytics
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Vehicle Analytics Market report also include data type such as capacity, production, market share, price, growth rate, consumption, import, export etc. Industry chain, manufacturing process, cost structure, marketing channel are also analyzed in this report.