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Surge in number of connected vehicles and consent & activation rates of these vehicles among consumers is fueling market growth
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— Emergen Research
VANCOUVER, BC, UNITED STATES, September 8, 2022 /EINPresswire.com/ — The global automotive data monetization market size is expected to reach USD 86.91 Billion at a steady CAGR of 38.5% in 2028, according to latest analysis by Emergen Research.
Emergen research’s latest document, titled ‘Automotive Data Monetization market’ is one of the most sought-after market reports involving an in-depth analysis of the global Automotive Data Monetization market. The report’s authors have offered necessary details on the latest Automotive Data Monetization market trends and the crucial parameters impacting both short-term and long-term market growth.
Vehicles are able to capture and share different types of data, including on vehicle performance, geolocation, biometric data, and driver behavior. GPS functionality has supported navigation systems for years, and smarter applications of data are adding value in the form of real-time road safety and traffic updates and alerts. Operational functionality and vehicle health data are gaining traction as automotive manufacturers are developing more app-based tools to monitor major maintenance statistics. Even though biometric data is at its infancy, sensors in the cockpit allow vehicles to monitor driver’s heart rhythm, stress levels, fatigue, and alcohol consumption.
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Highlights of Report
Predictive maintenance enables insights about the need for maintenance of vehicles before a breakdown occurs. Predictive maintenance analyzes data generated from connected vehicles to understand the need for maintenance with current vehicle sensor data. It saves additional maintenance cost, increases efficiency of vehicles, and improves experience of both customers and companies. It also helps in saving lives from unexpected accidents.
Cloud segment accounted for a larger revenue share in 2020 due to better scalability, improved cost-efficiency, increased reliability, and faster time to access new technologies as a readily available service. Cloud-based deployment is key solution for OEMs due to the above benefits.
North America accounted for largest revenue share in 2020 due to rise in demand for connected cars, integration of IoT in the automotive sector, and increasingly stringent vehicle safety norms. Moreover, steady deployment of Advanced Driver-Assistance Systems (ADAS) in the U.S is further driving growth of the automotive data monetization market in the region.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Major companies operating in the market include Continental AG, Tech Mahindra Limited, IBM Corporation, Harman International, Tesla, Microsoft Corporation, Wejo Limited, Oracle, Caruso GmbH, and The Floow Limited.
Emergen Research has segmented the global automotive data monetization market on the basis of type, deployment type, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Direct
Indirect
Deployment Type Outlook (Revenue, USD Billion; 2018–2028)
On-Premises
Cloud
End-use Channel Outlook (Revenue, USD Billion; 2018–2028)
Insurance
Government
Predictive Maintenance
Mobility as a service (MaaS)
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Objectives of the Report:
Industrial structure analysis of the Automotive Data Monetizationmarket by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape benchmarking
Analysis of Automotive Data Monetizationmarket based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Automotive Data Monetization market
Comprehensive analysis of competitive developments such as expansions, agreements,
new product launches, and other strategic alliances
Thank you for reading our report. Customization of the report is available. To know more, please connect with us, and our team will ensure the report is customized as per your requirements.
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Automotive Data Monetization Market Size Worth USD 86.91 Billion in 2028
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