The automobile industry and smart technologies have revolutionised the way adrenaline seekers and even the most technologically challenged drivers travel nowadays. The automotive business has grown dramatically over the years thanks to big data analytics. Big data is supporting the automotive industry in a variety of ways, including improving vehicle safety with cognitive IoT, cutting maintenance costs with vast volumes of data, and increasing uptime with predictive analysis, to name a few. This digital change in the automotive industry has created numerous new opportunities for industry specialists to upskill and profit from this growing trend. Big data in the automotive market is predicted to grow at an 18% CAGR during the forecast period.
Big Data in Automotive Market Report Scope and Research Methodology:
Automobile finance businesses acquire massive amounts of client data. This data helps businesses understand their clients better, but the sheer amount stops them from evaluating and acting on it. Automobile loan businesses sift through data to understand more about a customer's financial history and preferences. Because of these insights, businesses may now provide more customised financial solutions that are tailored to a customer's specific demands. More business leads will be generated as a result of firms' ability to differentiate their services, keeping customers away from fraudsters and defaulters.
Cars feature 50 or more sensors that collect data on speed, pollution, fuel use, resource utilisation, and security. All of this information can be used to identify patterns and promptly correct or prevent quality issues. Analytics can increase both customer satisfaction and quality control at a minimal cost. In addition, forward-thinking businesses are cooperating with the government to employ predictive analytics to forecast and identify high-congestion zones based on data acquired from automobiles for town planning and smart city development. Urban metropolitan concerns such as effective traffic management, resource allocation, and environmental challenges can be solved using insights from automotive data and other sources such as satellite, mobile, and GPS data.
Big Data in Automotive Market Overview:
Stellar Market Research has published a report titled Big Data in Automotive Market Manufacturers, Regions, Types, Applications, Segments, and Forecast to 2029. The report examines insights in the context of the Big Data in Automotive market, including its ever-changing patterns, industrial environment, and other key market components.
Big Data in Automotive Market size was valued at US$ 3.8 Billion in 2020 and the total Big Data in Automotive Market revenue is expected to grow at 18% through 2021 to 2027, reaching nearly US$ 12.1 Billion.
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Big Data in Automotive Market Segmentation:
Sensors and cameras are the most important features of self-driving cars. LiDAR serves as an eye fixed for self-driving cars, providing a 360-degree vision of the surroundings and allowing cars to drive appropriately on their own. Many self-contained vehicles use it to navigate situations in real time. Its benefits include accurate intensity perception, which allows LiDAR to determine the distance to an item to within a few centimetres, up to 60 m away. It's also well-suited to three-D mapping, which means that returning automobiles can navigate the environment predictably, which is a significant benefit for most self-driving systems.
One of LiDAR's primary assets is the breadth of areas where it can be improved. These include solid-kingdom sensors that can cut costs in half, sensor range increases of up to 200m, and four-dimensional LiDAR, which detects an item's speed as well as its position in three-dimensional space. Despite these intriguing developments, LiDAR is restricted by a critical factor: its high cost.
Big Data in Automotive Market Key Players:
Adobe Systems Inc. (USA)
Allerin Tech Pvt Ltd. (India)
SAS Institute Inc. (USA)
Stratio Automotive (Portugal)
Telefonaktiebolaget LM Ericsson (Sweden)
Auriga, Inc. (USA)
HCL Technologies Limited (India)
IBM Corporation (USA)
Infosys Limited (India)
LHP Engineering Solutions (USA)
Mu Sigma (India)
Oracle Corporation (USA)
Reply S.p.A. (Italy)
Capgemini SE (France)
DXC Technology (USA)
Happiest Minds (India)
Big Data in Automotive Market Regional Insights:
The market study examines market size, dynamics, and market share in the following regions: North America, Europe, Asia Pacific, South America, the Middle East, and Africa.
Key Questions answered in the Big Data in Automotive Market Report are:
- What is the expected Big Data in Automotive market size by the end of the forecast period?
- What are the Big Data in Automotive market segments?
- Which segment in the Big Data in Automotive market is expected to grow rapidly during the forecast period?
- Which are the prominent players in the Big Data in Automotive market?
- What key trends are expected to emerge in the Big Data in Automotive market during the forecast period?
- Which region dominated the Big Data in Automotive Market?
- Which regional market is expected to grow at a high rate during the forecast period?
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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