The Automotive Data Analytics Market
deals with the development of data analytics of automotive industry. Data analytics can be referred as the evaluation of the data obtained from the industry operations and surveys to gain insights and to drive business operations.
Data analytics has turned out as the key technology in the automotive industry. Based on the types, data analytics in automotive industry is segmented as software and services. Data analytics is used across various applications such as sales & marketing, customer behavior, diagnostics & maintenance and operational.
Increasing number of automotive companies coupled with the rising demand for connected vehicles has been elevating the demand for data analytics to gain and analyze the customer behavior and projecting future demands. Data analytics is being adopted in product development stage, manufacturing operations, logistics division and after market services. In after market services, data analytics is being used to analyze the pricing fluctuations, enhancing car features applications and so on.
Automotive manufacturers are maintaining the strategy to sustain in competitive environment and to strengthen their footprint in the automotive sector. Automotive insurance companies offer an extensive adoption base for these analytics solutions from the past five years. The growth of connected car technologies has been providing new opportunities and challenges for the automotive industry because of which, demand for the predictive and prescriptive analytics are gaining the popularity in the recent years in automotive industry.
Americas is dominating the Automotive Data Analytics Market due to presence of large number of pioneer analytics companies who have been extensively providing analytics solutions to the automotive companies. In addition, high adoption of analytics & connected vehicles is growing swiftly which led the region to be dominant in demand aspects for such solutions and is anticipated to continue its dominance over the forecast period. Europe is expected to register significant growth followed by Europe and Rest of the World.
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