The automotive data monetization market is projected to grow at a CAGR of 9.03% during the forecast period. Declining automotive production worldwide, on account of shrinking automotive sales in many countries, is increasing the need among automakers to stay ahead of their rivals and diversify their sources of cash flow in order to retain their market share in such an environment. Continuous adoption of digital technologies by automakers in order to digitize their business processes for improved efficiency has been opening doors to huge revenue generation opportunities for them. Automakers are moving towards monetization of huge volumes of data their business functions generate in order to strengthen their position in this industry. This is increasing the adoption of advanced data monetization solutions and services among them, thus boosting the growth of the market. Presence of a good number of players offering tailored solutions and services to customers across the globe has also been contributing to the growth of the market.
Geographically, Asia Pacific, Europe and North America are the leading regions in this market on account of presence of a large number of automakers in these regions. South America and Middle East and Africa also hold a significant share in this market.
Intensifying competition across automotive industry
Increasing digitization of business functions for improved efficiency
Rising investments in fully automated automotive production facilities
The major players profiled in the automotive data monetization market are Accenture, Dawex Systems, Elevondata, Emu Analytics, Gemalto, Google, IBM, Infosys, Monetize Solutions and SAP.
The automotive data monetization Market has been analyzed through the following segments:
By Deployment Model
By Enterprise Size
Middle East and Africa