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NEW YORK, July 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of Report “Big Data Market in the Automotive Industry – Growth, Trends, Impact of COVID-19, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06309371/?utm_source=GNW
The automotive industry is being transformed by the adoption of various technologies, applications and services, from sensors to artificial intelligence to big data analytics. As such, the ecosystem is witnessing a steady influx of new players and, as a result, the vehicles of the future are continually evolving. Increasing efforts from various stakeholders to utilize data generated by vehicles coupled with growing installed base of connected cars are driving the growth of the market.
major highlights
Big data analytics enable the automotive manufacturing industry to collect data from ERP systems and combine information from multiple functional units of the business and supply chain members. With the advent of industrial IoT, networked systems and M2M communications, the automotive industry is positioning itself for Industry 4.0 readiness. Sensors, RFID, barcode readers, and robots are standard on the industrial manufacturing floor. These devices have exponentially increased data generation points.
The consumer electronics industry is highly dependent on supply and demand factors. The use of big data analytics has dramatically helped this industry segment to switch to a pull market strategy rather than a push market strategy. We are now more aware and able to plan production accordingly. Similar possibilities are emerging in the automotive sector, with the evolution of IoT and electronic components becoming an integral part of the vehicle.
In addition, big data analytics have helped automakers increase sales and marketing efficiency. It also improved operations by helping to incorporate utilities such as predictive maintenance and service scheduling. It also helps automotive vendors streamline their procurement processes, making them more cost effective by analyzing data for demand forecasting.
Data is becoming more and more important for OEMs. It is therefore imperative to ensure compliance with the General Data Protection Regulation (GDPR) through a strong privacy strategy. A clear understanding of the details of data protection, especially GDPR, is required as many in the industry are still new to existing regulations and internal policies. This can lead to misunderstandings with the public. Data protection laws are therefore important in the context of connected and autonomous mobility, as the breadth of automatically acquired data is enormous.
The recent outbreak of COVID-19 has exposed the negative impact of uncertainty on decision-making processes and markets. The auto market began to ease as market participants began to receive real-time information on the situation. This is one of the scenarios where big data can be used to amplify information to various stakeholders in order to prevent panic and ensure market stability and security of supply.
Key market trends
Product development, supply chain, and manufacturing sectors account for a large share
In today’s technology-driven business environment, big data has become one of the key drivers of productivity and efficiency for manufacturers. The high adoption rate of sensors and connected devices and the availability of M2M communication have greatly increased the number of data points in the automotive industry.
Data analytics is still in its infancy in the automotive business. Data analytics has been a mainstream component of the manufacturing, marketing, and supply chain sectors of the automotive industry, but generating and analyzing data from products required minimal effort. Nevertheless, as the Internet of Things and computing become more successful, low-cost means of collecting data are beginning to emerge in the industry.
Connected cars have the potential to revolutionize the user experience. According to the Associated Press, the global auto industry is expected to deliver about 76.3 million connected cars by 2023. We provide hardware and software to help you connect to the cloud, create data and gain actionable insights. Data from vehicle sensors could change the way automotive companies monitor performance and maintain product quality and safety. Access to real-time on-load data helps accelerate product development.
General Motors, America’s largest automobile manufacturer, is a pioneer of big data and analytics in the automotive industry. These days, cars with sensors and processors are commonplace. General Motors has put sensors and telematics in the car as a center of attention. This is because it saves a lot of revenue and makes the car safer and more reliable. For example, according to DataFlair, telematics is like a gold mine as it offers significant savings of up to US$800 per car.
The Asia-Pacific segment is expected to grow at a significant rate over the forecast period
Asia Pacific has the largest population of any region. The Asia-Pacific region is regarded as one of the largest markets for the automotive industry due to its growing urban population and increasing purchasing power.
About 965,000 passenger cars and 216,000 commercial vehicles were sold in China in April 2022, according to the China Automobile Manufacturers Association. These numbers are down 48% and 42% respectively from the previous month. Such huge vehicle sales create opportunities for the studied market to grow.
The two companies are working together to expand their presence in different regions, gain broader market coverage and strengthen their product portfolio. For example, in June 2022, the data divisions of Toyota and Nippon Telegraph and Telephone will work together to create a connected car that can collect and share data. Hiroshi Honma, chief executive of NTT Data’s networking and data division, said in an interview that the company would actively consider mergers and acquisitions to accelerate its expansion into international markets. Honma estimates that the business will spend up to ¥400 billion (US$3 billion) on deals over the next four years.
For example, in June 2021, SG Holdings subsidiary Sagawa Express unveiled its first electric vehicle (EV) prototype built in collaboration with Tokyo startup ASF, as part of its goal to electrify all small delivery vans. Did. By 2030, the country’s largest delivery company plans to convert all 7,200 light vehicles to electric vehicles, saving 28,000 tonnes of CO2 emissions annually. Such developments will allow the market under study to grow.
competitive environment
The automotive industry big data market is highly competitive and consists of a sizeable number of global and regional players. These players hold a sizeable share of the market and are focused on expanding their customer base. These vendors are focusing on R&D activities, strategic partnerships, and other organic and inorganic growth strategies to gain a competitive edge over the forecast period.
March 2022 – National Instruments Corporation announces the acquisition of the electronic vehicle (EV) systems business of Heinzinger GmbH, based in Rosenheim, Germany. The acquisition expands NI’s electrification, battery testing, and sustainable energy capabilities and customer reach. NI and Heinzinger are highly complementary in testing components used in the automotive industry, delivering innovations to electrify vehicles and quickly reach Vision Zero.
January 2022 – Reply SpA announces the acquisition of Enowa LLC, a company specializing in consulting and development of solutions based on SAP technology, to strengthen its presence in North America. Enowa LLC is active in the area of cloud design and value-added services for SAP technology.
Additional benefits:
Market forecast (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06309371/?utm_source=GNW
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