Global Automotive Data Monetization Market Size, Share, Analysis, Trends Future & Forecast 2027
MarkNtel Advisors has recently released an all-encompassing report on Global Automotive Data Monetization Market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.
Forecast 2027: Revealing Automotive Data Monetization Market Insights and Analysis
The Global Automotive Data Monetization Market is projected to grow at a CAGR of around 94% during the forecast period, i.e., 2022-27.
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Key Driver: Booming Worldwide Popularity of Connected Cars
The growing demand for the Advanced Driving Assistance System (ADAS) to assist drivers with safe functionality & reduce car accidents has been registering an exponential growth over the past couple of years. Government regulations in various European & North American countries regarding the adoption of ADAS in cars are driving the Global Automotive Data Monetization market. For instance, an Anti-Locking Braking System (ABS) has been made mandatory for all commercial vehicles in Europe & the US. Furthermore, the rollout of the 5G network is likely to flourish the procurement of autonomous vehicles, which, in turn, would also contribute to the overall market growth.
Moreover, leading automakers have started focusing on data monetization throughout the connected vehicle life cycle. Therefore, this frontier has opened new revenue streams in the form of monthly subscriptions for premium connectivity services, paid over-the-air (OTA) upgrades, etc. Hence, all these aspects would play a crucial role in driving the Global Automotive Data Monetization market during 2022-2027.
A Comprehensive Overview of Geographical Diversity:
the Global Automotive Data Monetization Market expands across:
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Of all the regions globally, North America has been portraying a noticeable market growth since 2017 due to the rising use of complex & smart automobile technologies in the US & Canada.
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Automotive Data Monetization Market Segmentation Outline:
- By Application
- Insurance
- Government
- Predictive Maintenance
- Mobility as a Service
Of them all, the Insurance application captured a major market share with around 59% CAGR in the Global Automotive Data Monetization market during 2017-21.
- By Type
- Direct
- Indirect
- By Deployment
- Cloud
- On Premises
Competitive Outlook
Amazon Web Services, Microsoft Corporation, Continental AG, IBM Corporation, Herman International, Tesla Inc., Wejo Limited, Oracle Corporation, Xevo Inc., Tech Mahindra Ltd, Vinli Inc., SmartO, The Floow ltd, Otonomo Technologies, Caruso GmbH.
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