Autonomous Vehicle Management Services: Introduction
- Increase in adoption of information technology enabled solutions in vehicles, including artificial technologies, IoT (internet of things), and data analytics coupled with a rise in use of ADAS (Advanced Drive Assistance Systems) technologies in vehicles is expected to drive the global autonomous vehicle management services market
- Autonomous vehicle management uses a fully integrated system to create maintenance schedules for vehicle fleets, and the companies operating in the autonomous vehicle management service market provide these fleet management solutions to vehicle fleet companies.
Key Drivers of Autonomous Vehicle Management Services Market
- Rise in trend of real-time monitoring of vehicles by fleet operators is expected to drive the autonomous vehicle management services market. Fleet operators can check if vehicle drivers are using the designated routes or following diversions. Moreover, fleet operators can monitor the consumption of fuel of their vehicles through autonomous vehicle management services. This data can be used by insurance companies in case of vehicle accidents to recover financial losses and receive full reimbursement from the concerned insurance companies.
- The autonomous vehicle management services coupled with vehicle tracking and application global positioning systems (GPS) enables the vehicle AI to predict congested routes, and suggest a different route for the vehicle. This, in turn reduces the probability of vehicle crashes and thereby, reduces fatality rate.
- Increase in adoption of artificial intelligence in autonomous vehicles is expected to reduce human errors in operation and enhance the efficiency of assigned task. Enabling AI in autonomous vehicles is expected to help vehicle operators to perform other tasks including booking the next fare, communicating with clients, or planning vehicle maintenance. Moreover, vehicle drivers/ operators would be better able to manage the fleet and dispatch tasks while being assisted by AI on the road.
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Autonomous Vehicle Management Services Market: Restraint
- Autonomous vehicles (AVs) are outfitted with a significant amount of computing ability and sensing equipment, including LiDAR and powerful GPS systems. This additional equipment may cost up to $100,000 on top of the base cost of the autonomous vehicle. Furthermore, the cost of an autonomous vehicle is much higher than that of a traditional vehicle. The high initial cost is expected to hinder the autonomous vehicle management services market.
Asia Pacific to hold prominent share of global autonomous vehicle management services market
- In terms of region, the global autonomous vehicle management services market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
- Increase in trend of integration of AI, rise in investments toward AI developments, rise in disposable income, and high demand for autonomous vehicles in Europe are key factors leading the region to account for a significant share of the global autonomous vehicle management services market. Moreover, baby boomer effect, sophisticated technology centers, and high consumer awareness about autonomous mobility are boosting the autonomous vehicle management services market in Europe.
Key Players Operating in Autonomous Vehicle Management Services Market
The global autonomous vehicle management services market is highly concentrated due to the presence of top manufacturers. A few key players operating in the autonomous vehicle management services market are:
- ALD Automotive
- ARI Fleet Management
- Donlen Corporation
- MiX Telematics
- Verizon Connect
- Wheels, Inc.
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Global Autonomous Vehicle Management Services Market: Research Scope
Global Autonomous Vehicle Management Services Market, by Solution
- Operations Management
- Vehicle Maintenance and Diagnostics
- Performance Management
- Fleet Analytics and Reporting
Global Autonomous Vehicle Management Services Market, by Service
Global Autonomous Vehicle Management Services Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.