Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) — The “Global Vehicle Analytics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global vehicle analytics market size reached US$ 2.3 Billion in 2022. Looking forward, the market is expected to reach US$ 9.2 Billion by 2028, exhibiting a growth rate (CAGR) of 25.99% during 2022-2028.
Vehicle analytics refers to a technology that tracks real-time information from vehicles and provides it to the user or the manufacturer. It assists in vehicle counting, tracking, brand detection, road condition inspection, and incorrect direction detection. It also aids in determining the current state of a vehicle and the driving methods used by the driver. Besides this, as it improves the efficiency and safety of the overall driver experience, the demand for vehicle analytics is escalating around the world.
Vehicle Analytics Market Trends
Digitization currently plays a pivotal role in the automotive industry as it delivers detailed information about speed, distance, emissions, resource usage, driving behavior, and fuel consumption. This, coupled with the rising sales of vehicles around the world represents one of the key factors stimulating the growth of the market. Apart from this, the increasing congestion on city streets and sidewalks has resulted in numerous safety challenges, such as distracted pedestrians and rising bicyclists. As a result, governing agencies of several countries are encouraging the adopting vehicle analytics solutions to analyze real-world data about traffic patterns and road conditions. This solution enables drivers to obtain analysis of areas with poor road conditions and bottlenecks that create traffic delays. Moreover, vehicle analytics provides alert to the owner beforehand about the potential requirement of maintenance before a breakdown can occur. This further assists in minimizing road accidents worldwide that are caused due to human negligence in the timely service and maintenance of vehicles. Besides this, the market is also impelled by the increasing utilization of these solutions to keep naval, aircraft, and ground vehicles online and avoid costly last-minute repairs.
Key Market Segmentation
This research provides an analysis of the key trends in each segment of the global vehicle analytics market report, along with forecasts at the global, regional and country levels from 2023-2028. The report has categorized the market based on component, deployment mode, application and end user.
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Application:
- Dealer Performance Analysis
- Driver and User Behaviour Analysis
- Predictive Maintenance
- Safety and Security Management
- Traffic Management
- Usage-based Insurance
Breakup by End User:
- Original Equipment Manufacturers (OEMs)
- Insurers
- Automotive Dealers
- Regulatory Bodies
- Fleet Owners
Companies Mentioned
- Agnik LLC
- CloudMade (Valeo)
- Continental AG
- Genetec Inc.
- IMS (Insurance & Mobility Solutions)
- Inquiron
- Inseego Corp.
- International Business Machines Corporation
- Microsoft Corporation
- Samsung Electronics Co. Ltd.
- SAP SE
- Teletrac Navman US Ltd (Vontier Corporation)
For more information about this report visit https://www.researchandmarkets.com/r/i24em1
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- Global Vehicle Analytics Market
