What is Automotive Data Analytics - Market?
Data analytics is widely used in the automotive industry to solve various business problems including supply chain, inventory, maintenance, and marketing & finance-related problems. Automotive data analytics is used by automakers to analyze customers’ behavior towards the products or services that helps to design and build custom solutions in order to improve service and customer experience. Further, predictive analytics is used to gain insights about the issues in the vehicle and improve aftermarket services like maintenance and personalization services. Data analytics helps automakers to plan and manage the inventory and marketing mix of specific targeted groups of consumers.
Highlights from Automotive Data Analytics - Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | N-iX (Ukraine), Data Reply (United Kingdom), Phocas Software (Australia), Softweb Solutions (United States), DBi Data Business Intelligence (Spain), OmniSci, Inc. (United States), IBM (United States), Dataiku (United States), Oracle Corporation (United States), Mayato (Germany), QBurst (India), Teradata (United States), RapidMiner (United States), Infosys (India) and Grape Up (United States) |
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Automotive Data Analytics - market throughout the forecasted period.
N-iX (Ukraine), Data Reply (United Kingdom), Phocas Software (Australia), Softweb Solutions (United States), DBi Data Business Intelligence (Spain), OmniSci, Inc. (United States), IBM (United States), Dataiku (United States), Oracle Corporation (United States), Mayato (Germany), QBurst (India), Teradata (United States), RapidMiner (United States), Infosys (India) and Grape Up (United States) are some of the key players profiled in the study. Automotive Data Analytics - Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Inventory Management, Predictive Analytics, Customer Behavior Analytics, Marketing Spend Management and Others |
Components | Solutions,Services |
Deployment | Cloud,On-premises |
End-user | Automakers,Dealers |
On the basis of geography, the market of Automotive Data Analytics - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of AI into Big Data and Innovation in Data Analytics Technology
Market Growth Drivers:
Surging Demand of Predictive Analytics in the Automotive Industry to Analyze Performance of Vehicle and Aftermarket Services and Increasing Deployment of Data Analytics Solutions by Automotive Manufacturers for Visibility Tracking and Inventory Management
Challenges:
Low Quality of Data and Complex & Bias Analytical Tools
Restraints:
Growing Privacy Concern and High Cost Associated With Workforce Training
Opportunities:
Evolution of Electric Vehicles and Emerging Trend of Autonomous Driving Has Potential to Create Many Opportunities.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Automotive Data Analytics Solution & Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
Market Leaders & Development Strategies
In December 2019, the global leader in data analytics and consumer intelligence, J.D. Power merged with Autodata Solutions, a provider of data and software solutions for the automotive ecosystem. The merger will bring Thoma Bravo, a leading private equity firm and owner of Autodata Solutions, to J.D. The acquisition of Power is complete. The newly merged company is J.D. Operating under the name Power, it provided the automotive industry with market-leading new and used vehicle transaction data, evaluation tools, vehicle feature information, and consumer analytics.
In 2018, RapidMiner launched a new next-generation cloud data science platform for data scientists to business analysts easily manage and deploy predictive models in the cloud. The new model uses automated machine learning that helps to automatically search and merge data and build predictive models in a few minutes. The new cloud platform is developed on the modern, powerful architecture, and complements existing RapidMiner products Studio, Server, and Radoop.