Press release
Automotive Data Management Market: Exploring Market Share, Key Drivers, and Technological Trends
Automotive Data Management Market
Automotive Data Management Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $4.03 billion In 2028 At A CAGR Of 18.6% :
The automotive data management market size has grown exponentially in recent years. It will grow from $1.69 billion in 2023 to $2.04 billion in 2024 at a compound annual growth rate (CAGR) of 20.7%. The growth in the historic period can be attributed to rise of connected vehicles, growing importance of cybersecurity, compliance with regulations, cross-industry collaborations..
The automotive data management market size is expected to see rapid growth in the next few years. It will grow to $4.03 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth in the forecast period can be attributed to emergence of edge computing, shift towards autonomous vehicles, data monetization opportunities, integration of ai and machine learning, focus on data quality and standardization, increased cloud adoption.. Major trends in the forecast period include rise of connected vehicles, emergence of edge computing, growing importance of cybersecurity, shift towards autonomous vehicles, data monetization opportunities..
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Automotive Data Management Market Major Segments
The automotive data management market covered in this report is segmented -
1) By Component: Software, Service
2) By Data Type: Unstructured, Semi-Structured And Structured
3) By Deployment Type: Cloud, On-Premises
4) By Vehicle Type: Non-Autonomous, Autonomous
5) By Application: Driver And User Behavior Analysis, Safety And Security Management, Predictive Maintenance, Warranty Analytics, Dealer Performance Analysis
Key Driver - Exploring The Growth Of Automotive Data Management In The Era Of Autonomous Vehicles
The growing emergence of autonomous vehicles is expected to propel the growth of the automotive data management market going forward. An autonomous vehicle is a self-driving car that operates independently of human control using a combination of sensors, cameras, radar, and artificial intelligence. Automotive data management helps autonomous vehicles by collecting, processing, and analyzing vast amounts of data from the sensors and systems to ensure safe and efficient operation, optimize performance, and improve the driving experience. For instance, in 2022, according to the Insurance Institute for Highway Safety, a US-based independent, nonprofit scientific and educational organization, there will be 3.5 million self-driving vehicles on U.S. roads by 2025 and 4.5 million by 2030. Additionally, it is estimated that 75% of cars on the roads in the world are expected to be autonomous by 2040. Therefore, the growing emergence of autonomous vehicles is driving the growth of the automotive data management market.
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Prominent Trend - Revolutionizing Automotive Data Management With Advanced Technologies
Major companies operating in the automotive data management market are focused on developing new services incorporating IoT technologies in fleet services to increase their profitability in the market. IoT technologies in fleet services encompass the integration of interconnected devices and sensors in vehicles to gather, transmit, and manage automotive data for enhanced operational efficiency and decision-making. For instance, in September 2022, Amazon Web Services, a US-based cloud computing platform provided by Amazon, launched AWS FleetWise. AWS IoT FleetWise revolutionizes the way vehicle data is managed by streamlining the collection and organization of this data in the cloud. Its advanced data collection mechanism intelligently transfers only pertinent information, applying specific rules based on vehicle parameters to reduce redundant data.
Automotive Data Management Market Players
Major companies operating in the automotive data management market report are Microsoft Corporation, Robert Bosch GmbH, Amazon Web Services Inc., Siemens AG, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Continental AG, SAP SE, DXC Technology Company, NXP Semiconductors NV, Wipro Limited, iSoftstone, Acerta Analytics Solutions Inc., N-iX Ltd., Future Processing, Softweb Solutions Inc., Azuga Inc., Xevo Inc., Sibros Technologies Inc., Procon Analytics LLC, Otonomo Inc., AGNIK LLC, Phocas Ltd., National Instrument Corp.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive data management market in 2023. The regions covered in the automotive data management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Data Management Market Report Structure
3. Automotive Data Management Market Trends And Strategies
4. Automotive Data Management Market - Macro Economic Scenario
5. Automotive Data Management Market Size And Growth
…..
27. Automotive Data Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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