United States Vehicle Analytics Market Insights Forecasts to 2033

• The Market is Growing at a CAGR of 20.1% from 2023 to 2033
• The U.S. Vehicle Analytics Market Size is Expected to Hold a Significant Share by 2033

The US Vehicle Analytics Market Size is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 20.1% from 2023 to 2033.

Market Overview

Vehicle analytics is a cutting-edge technology that monitors up-to-the-minute data on the vehicle's current condition. It allows end-users like OEMs, insurers, fleet owners, and more to access real-time information about the vehicle's current location. The main use of the platform is to monitor, analyze, and enhance vehicle and driver performance. This enhanced vehicle and driver performance additionally guarantees a secure driving encounter. The technology is utilized for a range of purposes, such as traffic control, proactive maintenance, insurance based on usage, and more. Furthermore, the increasing use and accessibility of connected cars are likely to increase the need for vehicle analytics in the coming years. Furthermore, nearly all of the latest electric vehicles come with a range of telematics, IoT gadgets, and sensors to enhance performance. This adds to the need for automotive analytics to examine the collected data from these devices. Automakers, dealers, and insurers are using analytics tools to examine vehicle data in order to gain valuable insights. Car manufacturers are utilizing this information to enhance their service options in order to solidify their standing in the competitive market. Furthermore, an increase in competition between these car manufacturers aiming to solidify their presence in the market is anticipated to drive growth in the global vehicle analytics market in the coming forecast period.

Report Coverage

This research report categorizes the market for the US vehicle analytics market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States vehicle analytics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the U.S. vehicle analytics market.

Driving Factors

Automakers are already facing strong competition in the race to develop autonomous mobility. Moreover, autonomous mobility relies on data insights produced from automotive analytics. Therefore, the expected growth of the market in the coming years is attributed to the rising investment from OEMs in advancing self-driving or fully autonomous vehicles. Usage-based insurance (UBI) is a form of insurance where the cost of the policy is based on how the vehicle is used. Insurers utilize analytics tools to gather real-time data on vehicle usage and adjust premiums accordingly. The market growth is expected to speed up during the forecast period due to the rising demand for usage-based insurance in developed countries.

Restraining Factors

The use of automotive data analytics raises worries about cybersecurity because of its use of cloud service and internet connection. Moreover, due to its advanced nature, automotive analytics has not yet made its way into the automotive market of certain underdeveloped and developing countries, thereby hindering the market's expansion in those particular nations.

Market Segmentation

The US vehicle analytics market share is classified into application and material type.

• The predictive maintenance segment is expected to hold a significant market share through the forecast period.

The United States vehicle analytics market is segmented, by application into predictive maintenance, traffic management, safety & security management, driver & user behavior analysis, and others. Among these, the predictive maintenance segment is expected to hold a significant market share through the forecast period. The growth of the segment is being fueled by the rising sales and adoption of connected vehicles. Furthermore, logistics and transportation companies have a strong preference for incorporating predictive maintenance features in their fleet to minimize downtime and enhance driver safety and performance. Additionally, a predictive maintenance system examines the parts and issues notifications when maintenance is needed, thereby decreasing the risk of over or under-maintenance.

• The software segment is expected to dominate the US vehicle analytics market during the projected period.

Based on the component, the United States vehicle analytics market is divided into software and services. Among these, the software segment is expected to dominate the US vehicle analytics market during the projected period. Anticipated segment growth during the forecast period is driven by rising demand for software solutions and applications that streamline real-time data in connected vehicles. Moreover, different important parties offer software options to customers as they are responsible for managing the system.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States vehicle analytics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

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

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2023, Latitude AI, a Ford subsidiary, developed advanced autonomous driving technology, focusing first on a hands-free, eyes-off assistance system for upcoming Ford cars. Ford is expanding its automated driving solutions with 550 specialists in various fields to enhance the driving experience for many customers.

Market Segment

This study forecasts revenue at U.S., regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United States Vehicle Analytics Market based on the below-mentioned segments:

United States Vehicle Analytics Market, By Application

• Predictive Maintenance
• Traffic Management
• Safety & Security Management
• Driver & User Behavior Analysis
• Others

United States Vehicle Analytics Market, By Component

• Software
• Services