DUBLIN--(BUSINESS WIRE)--The "Vehicle Analytics Market - Growth, Trends and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The vehicle analytics market was valued at USD 1.74 billion in 2019 and is expected to reach a value of USD 6.34 billion by 2025 at a CAGR of 24.3% over the forecast period from 2020 to 2025.
Digitization has become an essential driver of innovation in the vehicle industry. With vehicles generating volumes of data in seconds, the opportunity to deliver superior customer experiences and business processes is becoming more significant than before. At present, cars account for at least 50 sensors designed to collect more detailed information, such as speed, emissions, distance, resource usage, driving behavior, and fuel consumption. The generated data gives the automotive industry stakeholders to use it for further analysis, create relation analysis, and enable better utilization.
Key Market Trends
Predictive maintenance is Expected to Hold Significant Share
As automakers are continually assessing the vehicle part's performance in real-time through sensors, it unlocks the opportunity toward a predictive maintenance approach. Using predictive maintenance, data can be pulled out from a majority of the 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, limiting the fallout from large-scale recalls, minimizing unnecessary wrench time, and potentially saving lives in the process. The Defense Innovation Unit (DIU) plans to bring predictive maintenance to the Navy, aimed at keeping naval, aircraft, and ground vehicles online and avoiding costly last-minute repairs. This will help in a greater understanding of a vehicle's life and health since it is critical for the military.
Asia-Pacific is Expected to Register Highest Market Growth in the Forecast Period
Asia-Pacific is the fastest-growing region since it is witnessing a growing dominance of connected and autonomous vehicles. Also, increasing the penetration of new technology companies making ways into the automotive industry is expected to lead to a new automotive analytics era. China laid out a plan to have at least 30 million autonomous vehicles within a decade until 2028 which is expected to drive automobile analytics demand. The government has been very active in terms of adopting technology to help policy implementation. China is also planning to ease quotas designed to boost the production of electric cars, in an attempt to help automakers revive its sales.
Owing to the presence of significant players in the market, the competitive rivalry in the market is high. Some of the key players in the market are SAP SE, IBM Corporation, Cloudmade Ltd, Harman International Industries Inc., Genetec Ltd, and many more. Their ability to continually innovate the products by investing heavily in R&D has allowed them to gain a competitive advantage over their competitors, which has enabled them to gain significant market share over others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview (Covers the impact due to COVID-19)
4.2 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Adoption Of Vehicle Telematics
5.1.2 Advancements in Technology, Such as Artificial Intelligence and Predictive Analytics Leading to Applications in Vehicle Management
5.2 Market Restraints
5.2.1 High Cost of Solutions Limiting Adoption in High End Cars
6 MARKET SEGMENTATION
6.1 By Deployment
6.2 By Application
6.2.1 Predictive Maintenance
6.2.2 Safety and Security Management
6.2.3 Driver Performance Analysis
6.2.4 Other Applications
6.3 By End-user Industry
6.3.1 Fleet Owners
6.3.3 OEMs and Service Providers
6.3.4 Other End-user Industries
6.4.1 North America
6.4.4 Latin America
6.4.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 SAP SE
7.1.2 Cloudmade Ltd
7.1.3 Genetec Inc.
7.1.4 HARMAN International Industries Inc. (Samsung Electronics Co. Ltd)
7.1.5 IBM Corporation
7.1.6 Inquiron Ltd
7.1.7 Intelligent Mechatronic Systems Inc.
7.1.8 Teletrac Navman US Ltd
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/iqyzf3
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900