Oct 23, 2017   SOURCE: PR NewsWire

Vehicle Analytics Market 2017 - Global Forecast to 2022

DUBLIN, October 23, 2017 /PRNewswire/ --

The "Vehicle Analytics Market by Application (Safety & Security Management, Traffic Management, Usage-Based Insurance), Component & End-User (OEMs, Service Providers, Automotive Dealers, Fleet Owners, Regulatory Bodies & Insurers)-Global Forecast to 2022" report has been added to Research and Markets' offering.

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The global vehicle analytics market is expected to grow from USD 1,124.1 Million in 2017 to USD 3,637.4 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 26.5%.

The advancements in technologies, such as machine learning, Artificial Intelligence (AI), and predictive maintenance, to enhance fleet management and the increasing use of the real-time data collected from sensors and Global Positioning System (GPS) tracking devices are the key drivers for the market.

The report provides detailed insights into the global vehicle analytics market, which is segmented on the basis of applications, components, deployment models, end-users, and regions. Among the applications, the safety and security management application is expected to have the largest market share during the forecast period.

Network coverage limitations and high initial setup costs are the major restraining factors for the growth of the vehicle analytics market. Data security issues and the challenges in integrating data with the existing software systems are the restraints in the adoption of vehicle analytics software and services.

Most of the vendors in the vehicle analytics market have adopted various growth strategies, such as acquisitions, agreements, collaborations and partnerships, new product launches, product upgradations, and expansions, to expand their client base and enhance the customer experience. For instance, in April 2017, IBM entered into a partnership with Panasonic and launched the Panasonic Cognitive Infotainment platform to offer OEMs and other fleet providers a complete infotainment solution which is powered by the IBM Watson and Cloud technologies.

Market Dynamics

Drivers 

    --  Advancements in Technologies, Such As Machine Learning, Ai, And
        Predictive Maintenance, to Enhance Fleet Management
    --  Increasing Use of Real-Time Data Collected from Sensors And Gps Tracking
        Devices 32

Restraints 

    --  Network Coverage Limitations
    --  High Costs Involved in Initial Setup

Opportunities 

    --  Automotive Players Leveraging Vehicle Analytics to Enhance Customer
        Experience
    --  Unprecedented Advancements Toward Making Autonomous Vehicles a Reality

Challenges 

    --  Data Security Issues
    --  Challenges in Integrating Data With Existing Software Systems


Companies Mentioned 

    --  Agnik Llc
    --  Automotive Rentals (Ari)
    --  Cloudmade
    --  Genetec Inc.
    --  Harman International
    --  IBM
    --  Inquiron
    --  Inseego Corp.
    --  Intelligent Mechatronic Systems
    --  Microsoft
    --  SAP
    --  Teletrac Navman

For more information about this report visit https://www.researchandmarkets.com/research/zcpjx6/vehicle_analytics

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SOURCE Research and Markets