Big Data in Automotive Market Overviews
Big Data in Automotive Market size was valued at US$ 5.29 Billion in 2023 and the total Big Data in Automotive Market revenue is expected to grow at 18% through 2024 to 2030, reaching nearly US$ 16.85 Billion.
The car industry and smart technologies have transformed the way adventurers seek thrills and even the most technologically challenged drivers navigate nowadays. Thanks to big data analytics, the vehicle industry has seen remarkable growth throughout the years. Big data is assisting the automobile sector in a variety of ways, including improving vehicle safety with cognitive IoT, lowering maintenance costs with large volumes of data, and increasing uptime with predictive analysis, among other things. This digital transformation in the automobile industry has opened up a plethora of new chances for industry experts to upskill and profit from this rising trend. Big data in automotive market is expected to register CAGR of 18% during the forecast period.
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Big Data in Automotive Market Scope and Methodology:
The automotive industry is growing at a rapid pace, with new advancements being launched every year, from cloud computing and artificial intelligence to electrification and autonomous driving. The big data in automotive market is expected to reach $66.95 billion by 2022, vehicle electrification is expected to reach $126 billion by 2025, and the global autonomous vehicle market is expected to grow at an 18.06 percent compound annual growth rate (CAGR) between 2020 and 2025, after being valued at $24.1 billion in 2019.
Big Data in Automotive Market Regional Insights
China has long dominated the market as the country with the greatest number of car owners worldwide. Chinese automakers sold over 25.76 million automobiles in 2019, according to the Chinese Association of Automobile Manufacturers. The market for big data in the automotive industry in Asia-Pacific is being driven by the desire for connected cars. Despite a general recession in China, where auto sales have fallen for 14 months in a row as of the end of August 2019, Audi managed an 11%t increase in sales to 660,000 cars last year, owing to strong demand for its popular sport utility vehicles. China, Japan, India, and South Korea accounted for 50% of worldwide vehicle manufacturing in 2019, making Asia and Oceania the largest market for car electrification. By 2025, the global vehicle electrification market is anticipated to be valued $129.6 billion, rising at a CAGR of 11.9%. Stringent government rules for emissions and fuel economy standards, as well as an increase in need for reliable electrical systems, are to blame for this market expansion.
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Big Data in Automotive Market Segmentation
Automobile finance companies amass vast volumes of client information. This data aids them in better understanding their clients, but the sheer volume prevents them from interpreting the data and acting on it. Automobile loan companies examine data to learn more about a customer's financial history and preferences. Companies are now able to deliver more customized financial solutions that are suited for a customer based on their needs thanks to these insights. This will produce more business leads since businesses will be able to differentiate their services, keeping customers away from the fraudsters and defaulters.
Big Data in Automotive Market Key Players
Adobe Systems Inc. (USA)
Allerin Tech Pvt Ltd. (India)
SAS Institute Inc. (USA)
Stratio Automotive (Portugal)
Telefonaktiebolaget LM Ericsson (Sweden)
Auriga, Inc. (USA)
HCL Technologies Limited (India)
IBM Corporation (USA)
Infosys Limited (India)
LHP Engineering Solutions (USA)
Mu Sigma (India)
Oracle Corporation (USA)
Reply S.p.A. (Italy)
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Key questions answered in the Big Data in Automotive Market are:
- What is Big Data in Automotive ?
- What was the Big Data in Automotive market size in 2023?
- What is the growth rate of the Big Data in Automotive Market?
- Which are the factors expected to drive the Big Data in Automotive market growth?
- What are the different segments of the Big Data in Automotive Market?
- What growth strategies are the players considering to increase their presence in Big Data in Automotive ?
- What are the upcoming industry applications and trends for the Big Data in Automotive Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Big Data in Automotive Market?
- Who are the leading companies and what are their portfolios in Big Data in Automotive Market?
- What segments are covered in the Big Data in Automotive Market?
- Who are the key players in the Big Data in Automotive market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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