NEW YORK, May 31, 2022 (GLOBE NEWSWIRE) — The global automotive data management market size is estimated to grow a CAGR above 20.5% over the forecast timeframe and reach a market value of around USD 4,807 million by 2030.
In the automotive industry, data analytics is becoming increasingly crucial. As OEMs come up with innovative autonomous models, data management systems’ analytics and valuation solutions will become more prominent. The demand for connected automobiles has increased as technologies in the automotive sector has advanced, as has the need for data management systems to analyze and gain user behavior, as well as analyze and understand customer needs. Previously limited to marketing and sales, data analytics is now being used in product development, industrial processes, logistics, and aftermarket solutions. However, the increasing use of connected vehicles is increasing the demand for automotive data management. The growing usage of embedded sensors in self-driving automobiles is driving the automotive data management market forward.
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As a result of developing technologies such as IoT and 5G, the vehicle industry is undergoing a profound transition, with the goal of altering the driving experience. To increase productivity and company growth, automotive manufacturers are integrating Industry 4.0 concepts in production, design, and supply chain management. There is also a general shift away from internal combustion engines and toward alternative forms of transmission, such as electric, hybrid, and hydrogen fuel cells. Data is important to realizing the automobile industry’s shift. Upgrading the automobile sector, the data management technology aids in the analysis of customer and user behavior in order to improve overall driving performance and maintain the condition of the car.
|Market||Automotive Data Management Market|
|Market Size 2021||US$ 920 Mn|
|Market Forecast 2028||US$ 4,807 Mn|
|CAGR||20.5% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Component, By Data Type, By Vehicle Type, By Deployment, By Application, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Acerta Analytics Solutions, Inc., Caruso GmbH, AMO Foundation, Amodo D.o.o, Amazon Web Services, Inc., IBM Corporation, ETL Solutions Limited, SAP SE, Teradata Corporation, Otonomo Technologies Ltd., National Instruments Corporation, and Sibros Technologies, Inc.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Automotive Data Management Market Growth Aspects
The automotive sector confronts strong competition, and fresh developments are required to stay competitive. To maintain a competitive advantage, businesses must upgrade on a regular basis. Data management system in the automobile business allows automotive enterprises to stay one step ahead of the competition. It helps automakers and consumers improve operational efficiency and productivity. Companies in the industry are concentrating their efforts on enhancing operational performance by implementing innovative technologies to monitor everyday activities. Data management and analytic tools are critical opportunities for manufacturers to use qualitative methodologies to assist intervention planning across the customer lifetime. To specify which technology performs best in a certain situation, all data was collected and processed centrally. This enables businesses to optimize equipment usage and avoid delays. As a result, the drive for enterprises to boost operational efficiencies is expected to promote the growth of automotive data management systems in the automobile industry.
Technological Advancement in Vehicles are expected to propel the market
The increased demand for built-in informatics and telematics in automotive has resulted in advancements in technology aimed at improving the entire in-vehicle experience for both passengers and drivers. With the connected vehicle, ubiquitous inbuilt cellular connections provide new opportunities to educate and engage drivers, as well as service the vehicles throughout their existence. As software defines more and more vehicle tasks, the capability to upgrade software OTA (over the air) makes integrated cellular connectivity a crucial way of preserving vehicle security and relevance throughout the vehicle lifecycle. Over the next five years, the connection will shift from being a support for better customer experience to providing essential, mission-critical capabilities for personal mobility.
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global automotive data management market. North America is expected to account for the majority of the worldwide automotive data management market during the forecast period due to the presence of numerous automakers combined with widespread implementation of lean analytics and deep learning, indicating potential growth of the automotive data management market in this region. Europe is predicted to be the second-largest market for the automotive data management industry during the next few years. Europe’s share of the global automotive data management market is predicted to grow exponentially as a result of increased car production, advancements in vehicle electronics layout, connected automobiles, V2V & V2I innovations, and the expansion of key OEMs. Europe has the most significant contribution to the market for connected automobiles. It is supplied by a plethora of technology OEMs, such as BMW, Daimler, JLR, and Volkswagen Group, who are engaged in sectors such as advanced driver assistance systems, navigation, in-car entertainment, and in-car networking, all of which have grown rapidly in the preceding decade. Market players are developing advanced and innovative car data management products and services for customers.
Interconnected Reports Automotive, Transportation and Logistics Market
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The global artificial intelligence in transportation market is anticipated to reach market size of around US$ 5,000 Mn by 2027 and is anticipated to grow at a CAGR of around 15% in terms of revenue during the forecast period 2020 – 2027.
The global automotive data management market has been segmented by Acumen Research and Consulting based on component, data type, vehicle type, deployment, and application. Based on the component, the market is divided into software, and service. Based on data type, the market split into unstructured, and semi-structured and structured. Based on vehicle type, the market is classified into non-autonomous, and autonomous. Based on deployment, the market is categorized into on-premise, and cloud. Based on application, the market is segmented into predictive maintenance, safety and security management, dealer performance analysis, warranty analytics, driver and user behavior analysis, and others.
Some key players covered global in the automotive data management industry are Acerta Analytics Solutions, Inc., Caruso GmbH, AMO Foundation, Amodo D.o.o, Amazon Web Services, Inc., IBM Corporation, ETL Solutions Limited, SAP SE, Teradata Corporation, Otonomo Technologies Ltd., National Instruments Corporation, and Sibros Technologies, Inc.
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Mr. Frank Wilson
Acumen Research and Consulting