The global automotive data management market size is projected to reach $4,807 million by 2030, according to a recently published report by Acumen Research and Consulting (ARC).
The market research firm estimates a compound annual growth rate (CAGR) exceeding 20.5% over the forecast period beginning 2022 through 2030.
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“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,” explained ARC.
The firm also affirmed, “automotive sector confronts strong competition, and fresh developments are required to stay competitive.”
Acerta Analytics Solutions, Caruso GmbH, AMO Foundation, Amodo D.o.o, AWS, and IBM are among the key vendors influencing the automotive data management industry.
By region, North America is anticipated to hold the majority of the global automotive data management market share during the forecast period, due to a large number of automakers in this region, along with the widespread implementation of lean analytics and deep learning.
In the next few years, analysts expect Europe to be the second-largest market for automotive data management. The region's share of the 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.
“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,” stated ARC in its report.
