Automotive Data Analytics Market: Forecast (2017-2023)
LONDON, Nov. 20, 2017 /PRNewswire/ -- Data analytics refers to the evaluation and analysis of the data obtained from the industry operations and surveys to gain insights and to drive business operations. Increasing number of automotive companies coupled with the increasing demand for connected vehicles has been elevating the demand for data analytics to gain and analyze the customer behaviour and projecting future demands. This strategy is being increasingly deployed by automotive manufacturers in order to sustain in competitive environment and to strengthen their footprint in the automotive sector.
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Initially, data analytics was limited to sales and marketing but coming forth, it is being adopted in product development stage, manufacturing operations, logistics division and aftermarket services. In aftermarket services, data analytics is being used to analyze the pricing fluctuations, enhancing car features applications and so on.
Increasing number of connected vehicles coupled with the development of advanced infotainment systems and emphasis to understand customer driving behaviour and preferences have been stimulating the demand for data analytics solutions. Automotive insurance companies offer an extensive adoption base for these analytics solutions from the past five years.
Americas is projected to dominate the market in 2016 owing to the presence of large number of pioneer analytics companies who have been extensively providing analytics solutions to the automotive companies. Moreover, the adoption of analytics & connected vehicles is growing swiftly which led the region to be dominant in demand aspects for such solutions and is anticipated to continue its dominance over the forecast period. This is followed by Europe and Asia-Pacific regions that are also witnessing a brisk growth mainly in the aftermarket segment, largely attributed to the growing prospects of connected vehicles ecosystem.
The market has been categorized based on the channel into OEMs & after-market. On the basis of type, the market is segregated into software & services.
By deployment type, the market is segmented into cloud deployment type & on-premise deployment type. On the basis of application, the market is categorized into sales and marketing analytics, operations analytics, diagnostics & maintenance analytics and customer behaviour and management analytics.
In the report, forecast values for the automotive data analytics market are analyzed for the period 2017-2023.
Sample Companies profiled in this report are:
SAS Institute,
IBM Corporation,
Oracle Corporation,
Cisco, Inc.,
10+.
Such companies have been profiled in the report providing product portfolio, financial and key developments snapshot along with strategy & SWOT analysis. This report also identifies the drivers and restrains for the market with detailed analysis of trends, opportunities and challenges.
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