The global vehicle analytics market size is expected to reach USD 10.65 billion by 2028, exhibiting a CAGR of 24.06% during the forecast period. The growing demand for automotive analytics can have a tremendous impact on the global market growth, states Fortune Business Insights in a report titled “Vehicle Analytics Market, 2021-2028.” The market size stood at USD 2.03 Billion in 2020.

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Key Development:

April 2021: China Association of Automobile Manufacturers (CAAM) Introduced an automotive data storage platform for connected vehicles using blockchain technology.

The Report Lists the Key Companies in this Market:

SAP SE
IBM Corporation
Genetec Inc
Cloud Made Ltd.
HARMAN International Industries Inc.
Intelligent Mechatronic Systems
Microsoft
Agnik LLC
Pivotal Software, Inc.
Teletrac Navman
Driving Factor:

Rising Popularity of Autonomous Mobility to Bolster Growth

Automakers are already competing fiercely in the development of autonomous mobility. Furthermore, the foundation of autonomous mobility is data insights derived from automotive analytics. As a result, rising OEM investment in the development of self-driving or completely autonomous vehicles is expected to fuel market expansion in the coming years. Hyundai, for example, stated in February 2019 that it intends to invest USD 12.3 billion in sectors such as vehicle electrification, autonomous driving technologies, and mobility.

Furthermore, businesses like Uber, Tesla, and others are investing in the development of autonomous mobility, which is expected to enhance vehicle analytics market growth throughout the forecast period.

Competitive Landscape:

SAP SE to Dominate the Market

SAP SE, located in Germany, is a prominent provider of automotive analytics. Customers can use the company's automotive analytics software and services. With the use of online data analytics, SAP vehicle analytics software allows you to manage connected cars. Vehicle diagnostics, mobility as a service, fleet management, and analytics are all possible applications.

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