Global Big Data in Automotive Industry Market - Introduction
- The automotive industry faces fierce competition, and novel innovations are a must to survive in this competitive world. Enterprises need to upgrade regularly to gain competitive advantage over others. Big data in automotive industry provide automotive enterprises this ability to be a step ahead of others.
- Big data and analytics give auto-financing companies an upper hand as compared to other competitive companies in the market. Additionally, big data and analytics are now a very significant part of the automobile sector as it is the backbone of all technologies and is also set to transform the driving experience.
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Gaining operational effectiveness in the automotive industry: Prominent driving factor of the big data in automotive industry market
- Big data in automotive industry offers operational efficiency for automakers to enhance productivity. Companies operating in the industry are focusing on improving operational performance by adopting advanced solutions to monitor daily workflows. Information management and analytics is a crucial opportunity for automakers to utilize qualitative methods to support the planning of interventions throughout the customer lifecycle.
- Greater efficiency and cost-saving are achieved by understanding maintenance needs and by monitoring the changing state of key components through big data analytics. Big data analytics also identifies environmental risks or possible safety issues before accidents arise. Big data in automotive industry solutions can easily increase overall reliability, safety, and reduce cost.
- All data is collected and analyzed centrally to understand which equipment works best in which environment. This enables organizations to optimize how the equipment is used and reduce latency.
- Therefore, big data in the automotive industry is expected to be driven by the need to gain operational efficiencies in organizations.
Shortage of talent and tools to capture the potential from big data expected to significantly hamper the big data in automotive industry market
- Big data provides huge opportunity and benefits to organizations; but shortage of skilled labor to take insights benefits of big data analytics that huge datasets generate is estimated to restrain the growth of big data in automotive industry market.
- Professionals with technical skills in machine learning and statistics, analysts, and data savvy mangers are required to capture the value from big data and utilize it effectively.
- The inability to manage huge amount of data effectively that is gathered from various sources is likely to restrain the big data market. Hadoop has been doing this job; however, more advanced tools are still needed to deal with data more effectively. Therefore, shortage of talent and tools to capture the potential from big data is expected to significantly hamper the big data in automotive industry market.
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North America to hold major share of the global big data in automotive industry market
- In terms of region, the global big data in automotive industry market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global big data in automotive industry market during the forecast period due to presence of numerous automotive manufacturers coupled with huge adoption of business intelligence and machine learning, indicating potential growth of the big data in automotive industry market in this region. Europe is estimated to be the second largest market for big data in automotive industry from 2019 to 2027. Growing rules & regulations related to safety concerns is expected to boost the big data in automotive industry market in the region.
- Asia Pacific is projected to be a rapidly expanding region of the global big data in automotive industry market during the forecast period due to increasing integration of IoT, AI, and Blockchain with big data, which is expected to increase the adoption of big data in automotive industry in the region.
Key Players Operating in the Global Big Data in Automotive Industry Market
- Adobe Systems Inc.
- Allerin Tech Pvt Ltd
- Auriga, Inc.
- Capgemini SE
- Deloitte Touche Tohmatsu Limited
- DXC Technology
- Happiest Minds
- HCL Technologies Limited
- IBM Corporation
- Infosys Limited
- LHP Engineering Solutions
- Mu Sigma
- Oracle Corporation
- Reply S.p.A.
- SAS Institute Inc.
- Stratio Automotive
- Stratio Big Data Inc.
- Telefonaktiebolaget LM Ericsson
Global Big Data in Automotive Industry Market: Research Scope
Global Big Data in Automotive Industry Market, by Component
- Data analytics
- Data Collection
- Data Discovery & Visualization
- Data Management
- Professional Services
- System Integration
- Operation & Maintenance
Global Big Data in Automotive Industry Market, by Software Deployment Type
Global Big Data in Automotive Industry Market, by Data Type
Global Big Data in Automotive Industry Market, by Application
- Research & Development/Product Development
- Supply Chain Management
- Transportation & Distribution
- Sales & Service
- Customer Behavior Analytics
Global Big Data in Automotive Industry Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.