The Global Automotive Data Monetization market is anticipated to grow at a substantial market share owing to the factors such as increasing adoption of advanced technologies such as AI, big data, blockchain, a rising collaboration between OEMs with third-party service providers such as insurance companies and smart parking service providers along with growing popularity of smart mobility and connected car. Moreover, burgeoning inclination toward shared mobility and advanced vehicle autonomy, snowballing customer preference customers toward data-enabled features to make mobility safer or more convenient and escalating digital innovation for car data monetization are some of the factors projected to fuel the growth of the market in the forthcoming timeline.
According to MarkNtel Advisors’ research report “Global Automotive Data Monetization Market Analysis, 2021”, the Global Automotive Data Monetization market is anticipated to grow at a CAGR of around 15% during 2021-26F. Based on Component, the Solution segment is projected to attain the highest CAGR by 2026 on account of the rising demand for advanced data-driven solutions. Along with this, the burgeoning inclination of customers toward the shared vehicles to likely to fuel mobility solutions provides personalized experiences in shared vehicles.
“Global Automotive Data Monetization Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Automotive Data Monetization providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Acquired the Majority Market Share
North America acquired the majority market share in the Global Automotive Data Monetization market in 2020 on account of increasing inclination towards the integration of data monetization connected cars which would generate a massive amount of data due to the growing number of sensors. The US dominated the North American region and is projected to maintain its dominance in the near future as well. The growth is accredited to propelling technological advancements such as IoT, burgeoning digitalization for tracking of vehicle performance and surging implementation of telematics, and automation are the factors expected to boost the growth of the Automotive Data Monetization Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Automotive Data Monetization Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Automotive Data Monetization market are SAP SE, Cisco Systems, Inc., IBM Corporation, Capgemini SE, Google Inc., SW Solutions, Truata, Infosys, ADASTRA, Reltio, Viavi Solutions, etc.
Key questions answered in the study: