Global automotive data monetization market revenue growth is driven due to increased application of advanced analytics and Big Data in automotive manufacturing and to provide more advanced features and services in vehicles, reduce operational costs and investment, and enhance driver and passenger safety. Vehicles are getting increasingly more connected to each other and advancements in road infrastructure and increase in number of sensors being used is resulting in generation of vast data volumes. Data collected can be leveraged and monetized, but this is currently at a nascent stage.
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)
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
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