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The scalability and agility of cloud-based technologies are increasing the adoption of cloud-based vehicle analytics solutions. Additionally, a rise in the adoption of advanced technologies enhanced vehicle-to-vehicle and vehicle-to-other connectivity, and the necessity of a proactively safe operating system are some other factors to offer a significant push to vehicle analytics market growth. The data collected with the use of vehicle analytics can be stored in the cloud, which can be used to provide driver behavior analysis on the basis of information such as driver's concentration levels, driving capabilities, and driving skills.
Advancement in Technologies and enhanced safety
The automobile companies are adopting the connected vehicles so that it can contribute to better traffic handling; and secure operations of different functions such as unlocking cars, keeping records of traveling and journeys, leasing of cars, and financial transactions. The applications of these technologies are likely to reinvent existing prototypes, change the ecosystem, and revamp customer satisfaction and have contributed towards the growth in the vehicle analytics market share. The increasing popularity of the market is also acting as a force in attracting auto manufacturers for spending in research and innovation.
Increase in the use of sensors and GPS tracking devices
For constantly assessing the performance of the vehicles in real-time the automakers are using sensors, which is unlocking the opportunity towards the predictive maintenance approach. With the use of predictive maintenance, data can be obtained from a majority of vehicles for a given year which can be compared with warranty trends. This will help in observing and addressing the issues carefully.
Through the use of advanced sensors, big and fast data, and car-to-car connectivity, predictive analytics technology may one day make auto accidents a thing of the past. By utilizing sensors on the front of the vehicle, the system could analyze the speed and distance to the vehicle traveling ahead, as well as that of the next preceding vehicle - which is usually outside the driver's field of view. When either of the proceeding two vehicles behaves in a manner that could force the driver to brake suddenly, the system alerts the driver with a visual alert and audible signal. A signal is also sent to temporarily lock the seat belts in case of impact.
Growth in demand for smart vehicles
The auto manufacturers, in particular, are now using data science to improve the driving experience and to build smarter vehicles. The collection of fuel consumption and emissions data, for example, enables car manufacturers to reach aggressive fuel economy targets while remaining eco-friendly. If a vehicle is equipped with the proper sensors, mechanics can use predictive analytics to view potential issues before they become problems - for example, a transmission system may be performing below average, indicating the need for early repair work (and consequently negating the need for a costly replacement job). Car manufacturers are even using data analysis tools in the design process by analyzing performance-based metrics to determine the most aerodynamic design. The vehicle analytics market trend looks to be in an uptrend as the growing necessities of improving the existing transport structure that is struggling to manage the ever-increasing traffic pressure is also influencing the growth of the market.
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