July 17, 2020
According to the research report titled ‘Global Automotive Data Management and Cloud Platform Market Analysis, 2020’, available with Market Study Report LLC, global automotive data management and cloud platform market is expected to record considerable growth through 2025.
Global automotive data management and cloud platform market growth is credited to favorable government actions to maintain security and safety in automobile industry. The constant increase in vehicle fleet size globally is adding momentum to sales of data management and cloud platform solutions.
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The COVID-19 pandemic outbreak has decelerated sales due to declining trend in the automotive industry in 2020 owing to curfew and lockdown across the globe, specially impacting the industry in Asia Pacific and European region.
The technological advancement in end products manufactured in automotive industry like driverless cars, electric vehicles has exponentially increased the amount of semi-structured, inorganized data. This unorganized data requires integration of automobile data, data migration, and security which is poised to impact the remuneration scope of this industry.
Based on the end user landscape, global automotive data management and cloud platform market is divided into insurer, fleet owner, automotive dealers, service providers, and OEMs. The OEMs segment held a significant market share of automotive data management and cloud platform industry in 2019. Growth prospects such as increasing awareness among fleet owners regarding preventive and predictive maintenance and safety and growing number of car manufacturers in North America, APAC, and Europe is likely to fuel the market growth during 2020-2025.
Speaking of components, the software segment of global automotive data management and cloud platform market accounted for the largest share of the industry in 2019, pertaining to growing need of end users for customized software solutions. The constant technological advancement in automobile sector has enhanced growth opportunity for software providers, which in turn influences the segmental size.
Major players in global automotive data management and cloud platform market are Procon Analytics (US), Xevo Inc. (US), SAP (Germany), Microsoft (US), Digital Recognition Network (US), IBM (US), Azuga (US), Amodo (Croatia), Agnik LLC (US), and Acerta Analytics Solutions among others.