Vehicle analytics is the branch that deals with vehicle behavior and associated properties with the help of inputs from the devices affixed on the vehicles. It offers users a better command over a vehicle along with the fleet by identifying the unusual behavior of the vehicle to prevent any kind of interruptions. Vehicle analytics has proved to be beneficial for the users by offering in-depth insights into driving habits and vehicle health. Ground-level analysis facilitates the real-time advantages to market players like car dealers, insurance providers, and automobile manufacturers, therefore the vehicle analytics solution is offered by a wide number of vendors globally.
Global vehicle analytics market is likely to gain immense popularity owing to the latest developments and advancements taking place in smart cities and IoT. The analytic program offers many insights and data in association with the surrounding environment of the vehicle to help individuals to interact better with cars. Automatic care manufacturers including Tesla, Uber, and Google are dedicatedly working on developing a modern vehicle that passes countless data points to eliminate the manual effort for driving. The automobile industry is undergoing a massive transformation. Cars are being upgraded in several fields to make them more durable than ever.
Therefore, several initiatives are also being taken by vehicle analytics vendors to offer an advanced solution in the market. Connected vehicles assist cars to effectively communicate with the help of digital advanced platforms. This effective communication generates huge datasets that are required to be connected with software solutions and later integrated to execute the needed operations. Such data is extracted and used to reach an optimum level of efficiency for various operations. These software and associated services permit fleet operators in automotive dealers to automate driver functioning, improve safety, and optimize resource usage by generating valuable information including road conditions, weather conditions, and vehicle performances. However, such an emerging landscape is likely to significantly augment the growth of the global market in the forthcoming years.
The global vehicle analytics market can be segmented into deployment model, component, application, end-user, and region.
By deployment model, the market can be segmented into cloud and on-premise.
By component, the market can be segmented into software and services. The services segment can further be bifurcated into professional services and managed services.
North America accounts for the largest share in the global vehicle analytics market due to the presence of strong market leaders in the region. Also, the growing demand for automatic vehicles along with ongoing technological advancements are likely to accentuate the growth of the regional market in the forthcoming years.
Some of the significant players in the global vehicle analytics market are Teletrac, SAP SE, Samsung Electronics Co., Ltd., Microsoft Corporation, International Business Machines Corporation, Inseego Corp., Inquiron Limited, Genetec Inc., Continental AG, and ARI Fleet Management Company. To cite, SAP in July 2018 introduced data analytics solutions for connected vehicles. The application is based on the SAP HANA cloud platform. The application will analyze real-time sensors and store data from vehicles and equipment.
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