Vehicle Analytics Market Is Primarily Driven By Increasing Adoption Of Emerging Technologies By The Automotive Sector Across The Globe
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Technology advancement is bringing an evolution in the automotive sector. Increasing adoption of technologies to offer customized vehicle, high-tech features, and exquisite user experience are expected to increase the adoption of vehicle analytics by the automotive manufacturing sector.
Emerging technologies such as analytics, big data, data mining, and many others are offering potential revenue growth opportunities for automobile manufacturers. Connected vehicle is an example of technological advance automotive achievement.
Analytical technologies are evolving at a fast pace especially in manufacturing industries. Vehicles require regular maintenance which ensures the company’s profitability, and schedules ensure that maintenance happens in given optimal time. Analytics supports scheduling services depending upon vehicles health. The scheduled services include brake inspections, oil changes, tire rotations, realignments, fluid checks, and others.
Vehicle analytic provides advanced engine diagnostic as follows:
- Fuel management which provides the detailed result of fuel quality, requirement, consumption, and others.
- Driver Vehicle Inspection Reports (DVIR) consider driver’s checklist to carry out an extra inspection to work through before and after a trip for ensuring vehicles road-worthy
- Insurance management which combines telematics data collected through vehicle devices such as vehicle location, accelerometer, driving behavior, onboard diagnostics parameter IDs with insurance agencies.
- Traffic management is provided by identifying areas with poor road conditions, bottlenecks that have caused traffic jams, which aid in prioritization and planning of improvements.
Key Benefits offered by vehicle analytics includes
- Predictive analytics
- Runs real-time evaluations
- Improve vehicle performance
- Real-time sensor data analysis
- High-resolution accelerometer and gyroscope data
Two vehicle portal devices that offer analytics
- Micro-Analytics Portal – It is a dashboard that displays view of specified parameters of a vehicle on a daily basis and is used for minor analysis.
- Macro-Analytics Portals – These portals display specialized reports which include product management, quality, human-machine interface optimization, and other relevant data as requested. These reports are focused on a set of data presentations from user perspective across a selection of vehicles.
The global vehicle analytics market is further categorized by type and application. The type category includes vehicle analytics software and services. The vehicle analytics software have witnessed high adoption from the recent past owing to growing demand for high-tech cars across developed and developing economies across the globe.
The application category includes OEMs, service providers, automotive dealers, fleet owners, regulatory bodies, and insurers.
Based on regions the global vehicle analytics market is divided into five regions. North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are regions the market is divided into. Asia Pacific countries hold their dominance in manufacturing high units of vehicles from lightweight to heavy-duty vehicles. North American countries have witnessed high adoption of technological advance vehicles owing to an early adopter of technologies aspects in this region.
Key market players operating in the market include IBM, HARMAN, SAP, Microsoft, Teletrac Navman, INRIX, Automotive Rentals, WEX, Inseego Corp, Genetec, IMS, Noregon, Xevo, Azuga, Procon Analytics, Infinova, KEDACOM, Pivotal Software, Acerta Analytics Solutions, CloudMade.
Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.
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