The global vehicle analytics market is forecasted to showcase a stellar growth in the coming years, according to Transparency Market Research (TMR). The report states that the vendor landscape is characterized with rising competitiveness between industry players. The vendors are expected to focus on acquisitions, partnerships and collaborations, to expand their geographical outreach as well as enhance their product portfolio. A number of vendors are increasingly investing in upgrading their existing products in order to beat the competition. Some of the leading vendors in the global vehicle analytics market are Harman International Industries, Amodo, INRIX, Automotive Rentals, Inc., and SAS Institute Inc.

According to TMR’s report, the global vehicle analytics market was roughly evaluated to be US$ 646.8 mn in 2017. With an outstanding 20.9% CAGR, the vehicle analytics market is prognosticated to rise to US$10,215.5 mn over 2017 and 2022, the forecast period.

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Segmented on the basis of end-user, the segment of tier 1 suppliers is predicted to emerge as the leading share holder of the global vehicle analytics market. The rise of the end-user segment could be ascribed to the pivotal role played by software and hardware suppliers to other industries.

Geographically, the market is prognosticated to witness the dominance of Europe, owing to the large presence of automotive manufacturers in the region, particularly in Germany and the U.K. The region is expected to hold over one-third of the global vehicle analytics market, attributed to the swift adoption of car analytics solutions as well as electric vehicles. The region is also favored due to encouraging government and regulatory policies.