Big Data in Automotive Market size was valued at US$ 3.8 Billion in 2020 and the total Big Data in Automotive Market revenue is expected to grow at 18% through 2021 to 2027, reaching nearly US$ 12.1 Billion.
The automobile industry and smart technologies have transformed the way thrill seekers and even the most technologically challenged drivers navigate today. The vehicle industry has grown dramatically over the years thanks to big data analytics. Big data is assisting the automotive industry 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, to name a few. This digital transformation in the automotive industry has created numerous new opportunities for industry experts to upskill and profit from this growing trend. Big data in the automotive market is expected to grow at an 18% CAGR during the forecast period.
Big Data in Automotive Market Report Scope and Research Methodology
The Big Data in Automotive market report provides a qualitative and quantitative analysis of market development determinants, limitations, opportunities, and issues. The Big Data in Automotive market research was carried out by segmenting the market into main segments and then further sub-segments. The report provides a regional analysis of the market, including market dynamics and Big Data in Automotive market size. SMR's research on the Big Data in Automotive industry employs both primary and secondary research methods, lending credibility to the report. The bottom-up approach was used to estimate the and regional Big Data in Automotive market size. The SMR report is the result of a study that included methodologies such as the PESTLE, PORTER, and SWOT analyses. These models were used in the study to shed light on the key financial considerations that Big Data in Automotive market players must consider when developing marketing strategies for both consumer and industrial markets.
Big Data in Automotive Market Report Overview
The study is based on major organization forecasts as well as market statistics. Big Data in Automotive Market research includes a detailed analysis at the regional and country market levels, as well as a competitive scenario for the forecast period and individual firm valuations. The Big Data in Automotive market report provides information on the growth variables, current market share, technological developments, applications, and regional penetrations by 2027.
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Big Data in Automotive Market Key Players:
Accenture (Ireland)
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)
Capgemini SE (France)
Dataiku (USA)
DXC Technology (USA)
Happiest Minds (India)
Big Data in Automotive Market Dynamics:
The automotive industry is rapidly expanding, with new innovations introduced each year ranging from cloud computing and artificial intelligence to electrification and autonomous driving. The automotive big data market is expected to reach $66.95 billion by 2022, vehicle electrification to reach $126 billion by 2025, and the global autonomous vehicle market to grow at an 18.06 percent compound annual growth rate (CAGR) between 2020 and 2025, from $24.1 billion in 2019.
Big Data in Automotive Market Segmentation:
Automobile finance companies amass massive amounts of client data. This data helps them understand their clients better, but the sheer volume prevents them from interpreting and acting on it. Automobile loan companies sift through data to learn more about a customer's financial history and preferences. Because of these insights, businesses can now provide more customized financial solutions that are tailored to a customer's specific needs. More business leads will be generated as a result of businesses' ability to differentiate their services, keeping customers away from fraudsters and defaulters.
When it came to Big Data and analytics, General Motors, one of the largest American automakers, was a forerunner in the automotive sector. Sensors and processors are now standard features in automobiles. General Motors is focusing on sensors and telematics within the vehicle to make it more secure and reliable. Telematics is a goldmine for them because it allows them to save up to $800 per car, and Big Data and analytics made this possible.
Every year, the German behemoth manufactures and sells 2.5 million vehicles worldwide. However, technology isn't limited to the cars it manufactures; Big Data informs everything it does, from design to engineering to production to sales and customer service. Big Data Analytics is setting new standards for their production system. By combining employee experience with new opportunities for efficient processing of massive data volumes, they can now produce accurate forecasts and proactively optimize operations. This speeds up the continuous improvement of their production system.
Maruti Suzuki, which has been ranked first for 14 years, exemplifies how a company should treat its customers. Their "Market to One" methodology is largely responsible for their customer retention policy. The strategy focuses on providing a tailored experience to each of its clients, and it appears to be working, as Maruti Suzuki saw a 3% increase in overall sales in the seven months following its implementation. SAS, a software suite for advanced data analytics, was central to this strategy, allowing them to build a 360-degree view of over 10 million of their clients.
Big Data in Automotive Market Regional Analysis
The Big Data in Automotive market report examines all regions, including Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The primary geographic condition with segments and sub-segments analysis was provided in the report during the research. The report describes the current state of the regional market in terms of market size, share, and volume.
Key Questions answered in the Big Data in Automotive Market Report are:
Key offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business.
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Mar 21, 2023
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