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. China’s 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.
Key Developments in Vehicle Analytics Market
- February 2018 - At the Mobile World Congress, SAP SE expanded the SAP Vehicles Network initiative to add HERE Technologies, MasterCard and Postmates. Together, the Network aims to work on various new features of vehicle analytics.
- October 2017 - Teletrac Navman announced a collaboration with Noregon. This partnership aims to combine the fleet management capabilities of Teletrac Navman and the vehicle health and safety diagnostics of Noregon, to provide a holistic view of vehicle fitness in real time.
Reasons to Purchase Vehicle Analytics Market Report
- Current and future adoption outlook of vehicle analytics in the developed and emerging markets
- Analysing various perspectives of the market with the help of Porter’s five forces analysis
- The application that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel)
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1.1 Key Study Deliverables
1.2 Key Study Assumptions
1.3 Market Definition
2. Research Methodology
3. Executive Summary
4. Vehicle Analytics Market Dynamics
4.1 Vehicle Analytics Market Overview
4.2 Vehicle Analytics Market Drivers
4.2.1 Growing adoption of vehicle telematics
4.2.2 Advancements in technology such as AI, and predictive analytics leading to applications in vehicle management.
4.3 Vehicle Analytics Market Restraints
4.3.1 High cost of solutions limiting adoption in high end-cars
4.4 Porter’s Five Forces Model – Industry Attractiveness
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
5. Technology Snapshot
6. Global Vehicle Analytics Market Segmentation
6.1 Vehicle Analytics Market By Deployment
6.2 Vehicle Analytics Market By Application
6.2.1 Predictive Maintenance
6.2.2 Safety and Security Management
6.2.3 Driver Performance Analysis
6.3 Vehicle Analytics Market By End-User
6.3.2 OEMs and Service Providers
6.3.3 Regulatory Bodies
6.4 Vehicle Analytics Market By Region
6.4.1 North America
6.4.3 Asia Pacific
6.4.4 Middle East and Africa
6.4.5 Latin America
7. Competitive Intelligence – Company Profiles
7.1 SAP SE
7.3 Genetec Inc.
7.4 HARMAN International
7.5 IBM Corporation
7.6 Inquiron Ltd.
7.7 Intelligent Mechatronic Systems Inc.
7.8 Microsoft Corporation
7.9 Teletrac Navman US Ltd.
*List is not exhaustive
8. Investment Analysis
9. Future Outlook of Vehicle Analytics Market