Vehicle Analytics Market on Track for Strong Growth, Estimated to Grow at 21.8% CAGR Through 2029

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What Is the Expected CAGR for the Vehicle Analytics Market Through 2025?
In recent years, the size of the vehicle analytics market has seen a massive increase. There is an expected growth from $3.83 billion in 2024 to a staggering $4.62 billion in 2025, with a compound annual growth rate (CAGR) of 20.6%. This significant growth during the historic period is due to various factors including the adoption of telematics, concerns regarding safety and security, predictive maintenance, compliance with regulatory norms, urbanization, and efficient traffic management.

What's the Projected Size of the Global Vehicle Analytics Market by 2029?
Expectations are high for a significant expansion in the vehicle analytics market in the coming years, with projections indicating a swell to $10.18 billion by 2029. This growth, at a compound annual rate of 21.8%, is largely attributable to several factors: advances in autonomous vehicle technology, emphasis on environmental sustainability, enhancements in driver and passenger experience, consumer preference for high-tech features, and a shift towards mobility services. The forecasted period is set to witness prominent trends, such as the rise of connected vehicles, integration of telematics, fuel efficiency improvement, collaboration with original equipment manufacturers (OEMs) and automotive suppliers, and the incorporation of fleet management solutions, smart cities and traffic management objectives.

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Top Growth Drivers in the Vehicle Analytics Industry: What's Accelerating the Market?
The expanding prevalence of connected vehicles is playing a notable role in fueling the expansion of the vehicle analytics market. These connected vehicles possess the ability to connect with nearby devices and communicate through various networks. With an increase in such vehicles, there's a growing demand for vehicle analytics to provide multiple features like warranty analytics, predictive maintenance, and dealer performance analysis, amongst others. For example, data released by Cubic Telecom, an Irish firm specializing in software-defined connected vehicle (SDCV) solutions, in January 2023 predicts an impressive 91% growth in connected vehicles from 2023 to 2027, with advanced driver assistance systems (ADAS) and infotainment sectors being the primary drivers of this growth. Consequently, the rising prevalence of connected vehicles is set to stimulate the expansion of the vehicle analytics market.

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What Trends Will Shape the Vehicle Analytics Market Through 2029 and Beyond?
The progression of technology is influencing the vehicle analytics market significantly. The role of artificial intelligence and machine learning in vehicle analytics ensures improved and expedited decisions as well as predictions about vehicle health and driving behaviours. Key market players are introducing advanced technologies, meant to offer instant feedback to drivers. For instance, in August 2024, INRIX, Inc., an American firm specialising in real-time traffic information and connected driving services, launched INRIX IQ Curb Analytics. This product features citywide curbside visualisation, real-time and predictive data on curb occupancy, and integration with more than 400 micromobility data sources, allowing cities to better manage curb space for parking, deliveries, and public transport. The importance of this technology lies in its potential to ameliorate urban mobility, alleviate congestion, and boost accessibility by offering a holistic digital perspective of curb usage and facilitating data.

What Are the Main Segments in the Vehicle Analytics Market?
The vehicle analyticsmarket covered in this report is segmented -

1) By Component: Software, Services
2) By Deployment Model: On-Premises, On-Demand
3) By Application: Predictive Maintenance, Warranty Analytics, Traffic Management, Safety And Security Management, Driver And User Behavior Analysis, Dealer Performance Analysis, Infotainment, Usage-Based Insurance, Road Charging
4) By End-User: Original Equipment Manufacturers (OEMs), Service Providers, Automotive Dealers, Fleet Owners, Regulatory Bodies, Insurers

Subsegments:
1) By Software: Fleet Management Software, Telematics Solutions, Predictive Maintenance Software, Driver Behavior Analysis Software, Vehicle Performance Analytics Tools
2) By Services: Consulting Services, Integration Services, Data Analysis Services, Support And Maintenance Services, Training Services

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Which Top Companies are Driving Growth in the Vehicle Analytics Market?
Major companies operating in the vehicle analytics market include SAP SE, International Business Machines Corporation, Microsoft Corporation, Genetec Inc., Cloud Made Ltd., Harman International Industries Inc., Teletrac Navman, Agnik LL, Pivotal Software Inc., SAS Institute Inc., Acerta Systems Analytics Inc., Amodo Ltd., INRIX Inc., Inseego Corp., Automotive Resources International Fleet Management Company, Continental AG, Google Inc., Cisco Systems Inc., Drust Vehicle Analytics, Sight Machine Inc., Fair Isaac Corporation, Bosch Software Innovations GmbH, Experian plc, WABCO Holdings Inc., Trimble Inc., TomTom International B. V., Airbiquity Inc., Oracle Corporation, Mix Telematics Ltd.

Which Regions Will Dominate the Vehicle Analytics Market Through 2029?
North America was the largest region in the vehicle analytics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vehicle analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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