Now, as the increase in technologies of automotive industry, the demand of connected vehicles have now been elevating the demand for data analytics to analyze and gain the customer behavior and evaluating and projecting future demand. Before, data analytics was limited to sales and marketing, but now we are adopting it in manufacturing operations, product development stage, logistics sector and aftermarket services. The automotive data analytics market is expected to grow at a CAGR of 17% during the forecast period i.e. 2018 to 2023. UK, the inference with its manufacturing base and significance as a major sales market share for global manufacturers are clear; their vehicles can directly impact the supply chain.
What is Automotive Data Analytics?
The autonomous industry is on the brink of a revolution, as self-driving vehicle analytics are shifting its usage models towards the customer expectations. Big data and analytics today offer unimaginable possibilities to overcome challenges faced by automakers. Since increase in demand of technologies in vehicle. The automotive industry started using it in sales and marketing, and also in many sectors which are in demand of connected vehicles. Automotive Data Analytics Market Reports states in addition to high usage of OEMs in infotainment and navigation services it better understands customer’s by analyzing data. Nowadays automakers are leveraging warranty analytics in recognizing major emerging issues, thus helps in reducing warranty costs and protecting brand equity.
Market Research and Market Trends of Automotive Data Analytics Market:
- Prognostic preservation is one of the new trend in vehicle analytics market in which it identifies the vehicle maintenance before they occur. This predictive data analytics functions virtually in fetching data from every vehicle of a given year and model and compare that information with warranty repairs trends.
- Another trend is about predictive collision avoidance. Through the use of advanced sensors, big and fast data and car to car connectivity, this technology will occur as collision avoidance system in vehicle. Nissan’s predictive forward collision warning feature is one of the experimental technology done by Nissan. This collision avoidance sensor is placed at the front of the vehicle. This sensor system helps in analyzing the distance and speed of the multiple vehicle which is travelling ahead of Nissan car. If the ahead vehicle brakes suddenly, the alert will rise on Nissan vehicle which will force the driver of the Nissan car to brake the vehicle suddenly, this alert can be the form of either visual alert or audible signal.
- Car cyber security is one of the shield trend in automotive, since the connected cars will be after all have to connect with internet, which can be somehow dangerous because their system can be hacked, so by taking it in concern, the automotive industry is trying to implement cyber security system on the connected cars, so that their vehicle will no more get affected from hackers.
Who are the Major Players in Automotive Data Analytics Market?
After arriving at the overall market size the global Automotive Data Analytics Marketis lead by the revenues generated by the key players in the market are as followed; Google Inc., SAP SE, Cisco Systems, Inc., Microsoft Corporation, Bosch Software Innovations GmbH, Drust, Sight Machine, ZenDrive and 10 other companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.