Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global Automotive Data Management Market size is expected to reach $3.7 billion by 2028, rising at a market growth of 17.8% CAGR during the forecast period.
The Services market is exhibiting a CAGR of 18.7% during (2022 - 2028). The increasing demand for customized value-added data management services among end-users, such as automotive dealers, automotive manufacturers, and fleet owners, is anticipated to drive market expansion.
The Structured market is generating the high revenue in the Global Automotive Data Management Market by Data Type 2021; thereby, achieving a market value of $2.1 billion by 2028. It is because structured data is highly ordered information that can be efficiently processed, stored, and retrieved by search engine algorithms. This segment's rise can be due to the increased need for structured data by automakers to improve the design of autonomous vehicles.
The Predictive Maintenance market is registering a highest CAGR of 18.2% during (2022 - 2028). It is due to the increased demand and use of predictive maintenance solutions, which foresee car problems and notify the owner of crucial maintenance requirements before a breakdown occurs. Utilizing data-driven maintenance strategy techniques to examine the status of equipment and anticipate when repairs should be made is predictive maintenance.
The Cloud market is leading the segment in the Global Automotive Data Management Market by Deployment Type 2021; thereby, achieving a market value of $2.4 billion by 2028. It is because cloud computing is becoming increasingly prevalent in both connected and autonomous automobiles. The market has been split into on-premise and cloud deployments. The adoption of cloud technology is altering the automobile sector by improving cost-effectiveness, dependability, time-to-market, and scalability.
The Autonomous market is showcasing a highest CAGR of 19.2% during (2022 - 2028). It is due to the development of adaptive algorithms, sensor-processing technologies, high-definition mapping, and the implementation of vehicle-to-infrastructure (V2I) and vehicle-to-vehicle (V2V) communication technologies that have contributed to the expansion of this market sector.
The North America market dominated the Global Automotive Data Management Market by Region 2021; thereby, achieving a market value of $1.3 billion by 2028. The Europe market is anticipated to grow at a CAGR of 17.3% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 18.4% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Sibros Technologies Inc., Azuga, Inc. (Bridgestone Corporation), Microsoft Corporation, SAP SE, IBM Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Otonomo Technologies Ltd., Agnik LLC, Procon Analytics, LLC and Xevo, Inc. (Lear Corporation)
By Data Type
By Deployment Type
By Vehicle Type
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