Selbyville, Delaware, April 12, 2022 (GLOBE NEWSWIRE) --
The automotive data management market is expected to surpass USD 4 billion by 2028, as reported in a research study by Global Market Insights Inc. The increasing penetration of connected vehicles is propelling the demand for automotive data management. The growing adoption of sensor technology in autonomous vehicles is driving the automotive data management industry growth.
Data security segment dominated with approximately 25% of the automotive data management market share in 2021 led by the increasing instances of cyberattacks across the automotive sector. Connected vehicles are more vulnerable to cyberattacks as they are equipped with advanced sensor systems such as Bluetooth, lighting system ECU, remote keys, and others that store useful & confidential data of the vehicles. For instance, in February 2022, according to a report published by Upstream Automotive Cybersecurity, it was reported that around 85% cyberattacks were recorded in autonomous vehicles in 2021.
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The semi-structured & structured segment is poised to register a growth rate of about 25% through 2028 owing to the increasing adoption of connected vehicles. The non-autonomous vehicle held more than 70% of the automotive data management market revenue share in 2021. The growth is attributed to the increasing use of autonomous vehicle technologies by fleet owners across the globe. Major truck manufacturers in the automotive sector are integrating advanced communication systems into their vehicles, augmenting the demand for automotive data management solutions. Mercedes-Benz, Volvo, and Scania have been early movers in integrating fleet telematics, creating new avenues for market expansion.
The cloud segment is projected to expand at above 25% CAGR from 2022 to 2028 impelled by increasing adoption of advanced cloud technologies in the automotive sector. Cloud technology is popular in both autonomous & non-autonomous vehicle systems. The adoption of cloud technology is reshaping the automobile industry by providing improved cost-efficiency, better scalability, increased reliability, and faster time to market facility. Different software giants are investing in cloud-based technologies for the auto industry.
The safety & security segment accounted for 15% of the revenue share in 2021 owing to the increasing road fatalities. Companies deploy multiple safety systems such as Anti-lock Braking Systems (ABS), Tire Pressure Monitoring System (TPMS), Electronic Stability Control (ESC), etc. These systems are required to ensure the rapid transmission of data between vehicle computer and hardware components for enhanced response.
Europe is predicted to grow exponentially in the global automotive data management market due to the increasing vehicle production, increasing connected cars, changes in vehicle electronics architecture, V2V & V2I developments, and expansion of leading OEMs. Europe is the major contributor to the connected car market. It is equipped with extensive technological OEMs, including Daimler, BMW, JLR, and Volkswagen AG, working in the domains, such as ADAS, in-car entertainment, navigation, and in-car connectivity, that have evolved rapidly over the last decade. The companies operating in the market are developing advanced & innovative automotive data management solutions for their customers.
Some major findings of the Automotive Data Management Market report include:
- Advancements in technologies, such as IoT, cloud computing, data analytics, AI, and ML, are anticipated to support market growth.
- The rapidly growing BYOD trend across the globe is providing significant market opportunities.
- The emergence of advanced ADAS systems and sensor technologies in vehicles is boosting the market demand.
- The Europe automotive data management industry is propelled by the growing adoption of advanced & integrated cloud based automotive data management solutions.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Automotive data management industry 360º synopsis, 2018 – 2028
2.2 Business trends
2.2.1 Total Addressable Market
2.3 Regional trends
2.4 Component trends
2.5 Data type trends
2.6 Vehicle type trends
2.7 Deployment trends
2.8 Application trends
Chapter 3 Automotive Data Management Industry Insights
3.1 Introduction
3.2 COVID-19 impact
3.3 Automotive data management industry evolution
3.4 Automotive data management industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Regulatory landscape
3.7 Autonomous vehicle landscape
3.8 Investment portfolio
3.9 Patent analysis
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Emergence of autonomous vehicles
3.10.1.2 Increasing investments in the automotive sector
3.10.1.3 Rising number of electronic products in autonomous vehicles
3.10.1.4 Intervention of innovative technologies for advanced user interface
3.10.2 Industry pitfalls & challenges
3.10.2.1 Increase in cybersecurity threats for connected vehicles
3.10.2.2 Maintenance & troubleshooting of automotive data management software
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
