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

For more information on companies in this article

Related Content

  • Global fleet management system market 2012-2016
    March 12, 2014
    TechNavio's Global Fleet Management System Market 2012-2016 report forecasts that the fleet management system market will grow at a CAGR of 26.66 per cent over the period 2012 to 2016. One of the key factors contributing to this market growth is the expansion of fleet size of commercial vehicles. The global fleet management system market has also been witnessing an increasing number of in-vehicle technologies. However, the increasing operating cost of vehicles could pose a challenge to the growth of thi
    Read More
  • Global ETC solution revenues to grow to $8.5 billion by 2018
    July 26, 2013
    Global electronic toll collection (ETC) systems revenues are expected to grow from US$4.48 billion in 2013 to US$8.5 billion in 2018, with a CAGR of 14 per cent and North America as the vital region., according to a new report from ABI Research, Electronic Toll Collection: A Key Business Driver for ITS and V2I. The study covers types of ETC (highway, urban, and area tolling), ETC technologies (RFID, DRSC, video, and GNSS/cellular), use cases and benefits, as well as an in-depth review of the main implementa
    Read More
  • Fleet management systems in the Americas ‘will exceed 13 million units by 2019’
    November 10, 2015
    According to a new research report from analyst firm Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in North America was 4.7 million in the fourth quarter of 2014. Growing at a compound annual growth rate (CAGR) of 15.5 percent, this number is expected to reach 9.7 million by 2019. In Latin America, the number of active fleet management systems is expected to increase from 2.1 million in the fourth quarter of 2014, growing at a CAGR of 14.6 percent to re
    Read More
  • ITS market expected to reach $33.75 billion by 2020
    May 15, 2015
    According to a new market research report by MarketsandMarkets, Intelligent Transportation Systems - Analysis and Forecast to 2014 – 2020, the intelligent transport systems (ITS) market is expected to grow at a CAGR of 11.30 per cent from 2014 to 2020 and reach US$33.75 billion in 2020. The report describes the market trends, drivers and challenges of ITS market and forecasts the ITS market from 2013 to 2020, based on the various systems of ITS, applications, and geography. This report covers geographies
    Read More

Highlighted Content