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

  • May 23, 2017
    Transport management systems market ‘offers opportunities for emerging players’
    Dominance in the global transportation management systems (TMS) market lies with a few companies, despite which the market exhibits considerable opportunities for emerging players, according to a new report by Transparency Market Research (TMR). Currently, companies such as SAP SE, Oracle Corporation, Descartes Systems Group, JDA Software Group, and Manhattan Association hold dominance in the global transportation management system market, says the study. The report also identifies companies such as BluJa
    Read More
  • April 17, 2014
    Global ADAS market expected to grow 2012-2016
    The latest report by Research and Markets, the Global Advanced Driver Assistance Systems (ADAS) Market Report, forecasts the Global Advanced Driver Assistance Systems (ADAS) market to grow at a CAGR of 22.59 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing adoption of safety measures. The Global ADAS market has also been witnessing the increasing deployment of ADAS in low-cost cars. However, ADAS are expensive and this could pose a challenge to t
    Read More
  • June 23, 2017
    Fifty per cent of consumer cars to have telematics devices by 2022
    A new report from Juniper Research has revealed that, by 2022, 50 per cent of consumer vehicles on the road will have at least one connectivity service, such as telematics, V2X (vehicle-to-everything) communications, or connected car commerce services.
    Read More
  • March 16, 2016
    Revenue growth of 30 per cent forecast for connected car market in 2016
    According to research company Statista’s Digital Market Outlook (DMO), 2016 will see approximately 11 million connected cars in America, with almost 32 million intelligent cars on America’s streets by 2020. Worldwide the number of connected cars is forecast to rise to 160 million intelligent vehicles. Statista claims the main impact of the enormous growth of the market comes from the rapid development of new features and possibilities. The biggest segment however, according to the DMO, is not infotainmen
    Read More

Highlighted Content