Data analytics has revolutionized many industries, and the automotive industry is no exception. Vehicle analytics offers various services to manage connected vehicles. Vehicle data, which includes geo-locations, tire pressure, mileage, oil level, steering angle, engine status, and others can be used to enhance the driving experience, optimize products, improve road safety, and fuel consumption. Market Research Future (MRFR) has published a report on the global vehicle analytics market which provides a comprehensive outlook of the market. MRFR's analysis has predicted the vehicle analytics market to reach a valuation of USD 4.3 Bn at a CAGR of 24% over the forecast period of 2017-2023.

Modern vehicles are equipped with numerous sensors which are capable of collecting a huge pool of data. Vehicle analytics aid in understanding patterns of vehicle behavior by careful analysis of vehicle data. It only helps evade unwanted vehicle issues but also helps save unnecessary expenses by helping in fuel management. Automotive manufacturers use vehicle analytics to make business-critical decisions which has generated considerable demand within the market. The collection of emission data and fuel consumption data help vehicle manufacturers remain compliant with various regulatory norms while remaining eco-friendly.

Using real-time vehicle analytics, traffic flow can be managed much better. Vehicle analytics tools use data from traffic management systems and align them in real-time with GIS mapping to provide traffic-related information to the driver, thus reducing traffic congestion. Surging road safety concerns have led to the increased adoption of Safety & Security Management solutions, which has unlocked growth possibilities for the vehicle analytics market. Progressive-minded governments across the globe are harnessing vehicle analytics in urban planning initiatives. Vehicle analytics can be used for ad-hoc event planning, such as sporting events or others during which traffic flow is temporarily affected.

Vehicle analytics has gained massive popularity in the transportation industry. Vehicle analytics helps in fleet management by keeping a record of various maintenance activities that are critical to the proper functioning of the fleet. It ensures that the fleet remains profitable by scheduling services such as brake inspections, tire rotations, realignments, fluid checks, oil changes, and others. Fleet managers can recognize potential issues at an early stage which can help prevent unnecessary downtime and other issues.

Segmentation

The global vehicle analytics market has been segmented based on component, deployment, application, and end user.

By component, the vehicle analytic market has been segmented into software and services. The services segment has been further segmented into managed services and professional services. The professional services sub-segment has been further segmented into support & maintenance, consulting services, managed services, deployment, and integration.

By deployment, the vehicle analytics market has been segmented into on-demand and on-premise.

By application, the vehicle analytics market has been segmented into Usage Based Insurance, Predictive Maintenance, Traffic Management, Infotainment, Warranty Analytics, Road Charging, Dealer Performance Analysis, Safety & Security Management, Driver & User Behavior Analysis.

By end user, the vehicle analytics market has been segmented into automotive dealers, travel & hospitality, service providers, fleet owners, insurers, and others.

Regional Analysis

Region-wise, the vehicle analytics market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).

North America is at the forefront of the global vehicle analytics market. The region's affinity towards advanced technologies has resulted in large-scale adoption of vehicle analytics solutions, which is spurring the market demand. Technical competence and the presence of a robust infrastructure facilitates the deployment of vehicle analytics in the region. Moreover, the major market players are based in the North America region, which favors the market growth of vehicle analytics.

The APAC vehicle analytics market is projected to showcase rapid growth over the forecast period due to the mounting demand for vehicle analytics from the automotive industry.

Competitive Landscape

The notable players in the global vehicle analytics market include SAP SE (Germany), Automotive Rentals (ARI) (U.S.), Inquiron (U.S.), Inseego (U.S.), Teletrac Navman (U.S.), IBM Corporation (U.S.), Agnik LLC (U.S.), Intelligent Mechatronic Systems (Canada), CloudMade (Ukraine), Microsoft Corporation (U.S.), Genetec (Canada), and Harman International Industries, Inc. (U.S.).