Big Data Investments in Automotive Industry to rise at 12% CAGR from 2017 to 2020: Report

Published Date : Nov 21, 2017

Albany, New York, Nov 21, 2017: has recently announced the addition of a detailed market research report covering the global big data market with a specific focus on its applications across the automotive industry. The report, titled "Big Data in the Automotive Industry: 2017 - 2030 - Opportunities, Challenges, Strategies & Forecasts," states that big data investments in the automotive industry will value over $2.8 bn in the year 2017 alone. The report also states that the investments in the market will expand at an impressive CAGR of over 12% over the next three years.

Owing to the rising proliferation of historical and real-time data from a large number of sources such as connected devices, social media feeds, web pages, transactional applications, and log files, big data is finding a diverse set of applications across a number of industries. Big data technologies are also finding a vast set of applications across the automotive industry, which range from product design, product manufacturing, autonomous driving, and vehicle maintenance predictions.

Owing to the rising set of applications in the market, insurers, automotive OEMs, dealers, tier-1 suppliers, and other stakeholders are increasing their big data investments in the automotive industry. The market is expected to witness expansion at a promising pace over the report's forecast period.

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The report states that the automotive OEM market is becoming increasingly competitive and vendors are increasingly resorting to big data tools and technologies and data analytics to improve the rate of consumer retention. In the past few years, there have been several instances in the form of mergers and acquisitions and prominent collaborations that highlight the rising importance and usage of big data in the automotive industry. The trend is expected to remain strong over the next few years as well and a number of new application areas for big data are expected to crop up in the global market in the next few years.

The report presents before the reader a detailed overview of the present state of development of big data in the automotive industry and gives insights regarding the potential development of a variety of big data technologies in the automotive industry over the report's forecast period. The report gives a detailed account of factors such as challenges, drivers, investment potential of leading players, and value chain and their potential impact on the future course of development of the market over the forecast period.

Forecasts are also given for software, hardware, and professional service investment over the report's forecast period. Moreover, forecasts are segmented in the report on the basis of criteria such as submarket, application area, and geography. Based on these criteria, the market has been assessed for 8 submarkets, 4 distinct application areas, 6 regional markets, and 35 country-wide markets.

The report covers an analytical overview of factors such as standardization, enabling technologies, and regulatory factors across the key regional and country-wide markets covered in the report. An overview of the key big data implementation and analytics models followed or used across the world presently is also included in the report.

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