Vehicle analytics market ‘to grow by 26 per cent by 2022’

A new market research report by MarketsandMarkets estimates that the market for vehicle analytics will grow from US$1124.1 million in 2017 to US$3637.4 million by 2022, at a Compound Annual Growth Rate (CAGR) of 26.5 per cent. According to the report, the major driving factor for this market remains advances in technologies, such as machine learning, artificial intelligence (AI) and predictive maintenance to enhance fleet management, as well as increasing use of real-time data collected from sensors and
September 19, 2017 Read time: 3 mins
A new market research report by 6418 MarketsandMarkets estimates that the market for vehicle analytics will grow from US$1124.1 million in 2017 to US$3637.4 million by 2022, at a Compound Annual Growth Rate (CAGR) of 26.5 per cent.


According to the report, the major driving factor for this market remains advances in technologies, such as machine learning, artificial intelligence (AI) and predictive maintenance to enhance fleet management, as well as increasing use of real-time data collected from sensors and global positioning system (GPS) tracking devices. Automotive players leveraging vehicle analytics to enhance customer experience and advances towards autonomous vehicles are the key opportunities that would fuel the growth of the vehicle analytics market.

With connected traffic management systems offering digital road maps of cities, this application is expected to be adopted significantly. Robust navigation systems would not only be helpful to the drivers in identifying the fastest route but would also help them to distinguish the most fuel-efficient route. Cab aggregators such as Uber and Ola are expected to leverage more of this application.

Moreover, with the increasing adoption of smart cities, real-time mobility is expected to gain a substantial adoption. Real-time analytics of data captured from sensors of other cars would be used in smart parking and other similar areas.

The on-demand deployment model makes use of the cloud to deliver solutions to users. Scalability and agility of cloud-based technologies are increasing the adoption of cloud-based vehicle analytics solutions. In the cloud deployment model, organisations do not have to deal with the complexities involved in integration, installation, configuration, optimisation, maintenance and support, as these are in most cases managed or hosted by a third-party service provider.

The vehicle analytics market is segmented based on regions including North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America has always been a frontrunner in adopting new paradigms related to innovative technologies and disruptive practices. The reason behind the early adopters is due to well-established and financially intensive economies and the presence of mostly all the largest conglomerates of the world such as IBM, Microsoft, SAP, and SAS Institute. Technology companies such as Google, Apple and AT&T have all contributed to the growing US market. Communications provider AT&T has contributed a fair share in the connected car ecosystem in the region. The company added 2.7 million connected cars in the first three-quarters of 2015. The region propelled by the electronic logging device (ELD) mandate, CSA Compliance, Safety, and Accountability (CSA), and Hours of Service Solution (HOS) revisions would be the key drivers for the massive adoption of vehicle analytics software and services in the region.

Location Based Systems

Related Content

  • December 4, 2015
    ANPR systems market ‘worth US$1.05 billion by 2020’
    MarketsandMarkets latest report, Automatic Number Plate Recognition System Market by Type (Mobile, Fixed, Portable), Application (Traffic Management, Law Enforcement, Toll Collection, Parking Areas), & Geography - Analysis & Forecast to 2020 claims that the automatic number plate recognition (ANPR) market is estimated to reach US$1.05 billion by 2020, at a CAGR of 13.25 per cent. The market growth is attributed to the adoption of ANPR systems for traffic management and law enforcement applications around
    Read More
  • October 3, 2013
    Global ITS market expected to reach US$ 30.2 billion by 2019
    According to a new market report published by Transparency Market Research, "Intelligent Transportation System (ITS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global market for ITS is expected to reach a value of USD 30.2 billion by 2019, at a CAGR of 11.1 per cent from 2013 to 2019. The demand for ITS systems is rising globally due to increased congestion in metropolitan areas. Development and deployment of intelligent transportation system not only r
    Read More
  • November 11, 2013
    Global traffic management market expected to grow to US$12.69 billion by 2018
    New research from Research and Markets indicates that the overall traffic management market, which stands at a total revenue of US$2,580 million in 2013, is expected to grow to US$12.69 billion at a CAGR of 37.5 per cent from 2013 to 2018. Traffic management reduces congestion and promotes a regular flow of traffic. Traffic management also proves to be money saving as it reduces the wastage of fuel. It decreases the carbon emissions from the vehicles and thus supports to keep our environment clean. Trans
    Read More
  • June 2, 2014
    TransWiseway and IBM building China’s largest connected vehicles platform
    IBM is collaborating with Beijing transportation information service systems provider TransWiseway Information Technology to build the largest connected vehicles platform in China that will transform the development of the country’s connected car services industry. The cloud-based platform will use advanced analytics for applications that offer real-time in-vehicle services to mobile devices, such as weather advisories, traffic alerts and alternate route suggestions.
    Read More

Highlighted Content