World Vehicle Analytics Market to Record 26.5% CAGR to 2022, Forecasts M&M in Its New Report Published at MarketPublishers.com03 Oct 2017 • by Natalie Aster
LONDON – The size of the vehicle analytics market is poised to increase from just over USD 1.124 billion in 2017 to surpass the USD 3.637 billion mark by 2022, posting a 26.5% CAGR. Advances in technologies, like machine learning, AI, and preventive maintenance to improve fleet management and growing usage of real-time data accumulated from sensors, and GPS satellite tracking devices are amid the factors that have considerably driven the market. Meantime, network coverage restrictions and high original setup costs are barriers to the vehicle analytics market growth.
Based on application, safety and security management is poised to have the biggest share by 2017 in terms of value of the total vehicle analytics market. The trend is likely to continue in the years to come. The requirement for monitoring and analysing the data produced from a copious amount of IoT sensors and wireless connections to enhance safety and security features inside the vehicle is one of the main factors giving a boost to the growth of the application.
The APAC vehicle analytics market is projected to see the most rapid growth tempo through to 2022 among other regional markets.
The market of China is currently walking in step with the USA and North America with respect to production volume of cars on an annual basis. The trend observed in the region is anticipated to even outgrow the markets of the USA and Europe in the offing.
New research study “Vehicle Analytics Market - Global Forecast to 2022” elaborated by M&M offers an all-encompassing analysis of the market on a global level. The report segments the market by application, component, deployment model, end-user sector, as well as maps these segments across major regions. The report canvasses the market dynamics exploring key market driving factors and barriers, opportunities, and market challenges, alongside examining key industry trends, and limelighting key rules and regulations pertaining to vehicle analytics. The study scrutinises the competitive scenario in the market and offers a discussion of the prominent players in the industry, their product lines, and the key growth strategies. The report provides exhaustive estimates and in-depth forecasts of the market size from 2015 through to 2022.
Follow MarketsandMarkets page to get access to a complete list of the publisher’s market research reports.