Automotive Data Management Market Size, Share & Trends Analysis Report By Component (Software, Services), By Data Type, By Vehicle Type, By Deployment, By Application, By Region, And Segment Forecasts, 2022 - 2030

Automotive Data Management Market Size, Share & Trends Analysis Report By Component (Software, Services), By Data Type, By Vehicle Type, By Deployment, By Application, By Region, And Segment Forecasts, 2022 - 2030

Automotive Data Management Market Growth & Trends

The global automotive data management market size is anticipated to reach USD 8.05 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.3% from 2022 to 2030. The market is gaining popularity owing to the increasing technological advancements in vehicles and the rise of autonomous and driverless vehicles.

The COVID-19 pandemic significantly impacted the growth of the market. The supply chain disruption negatively impacted the sale, delivery schedules, and manufacturing, which led to a notable drop in the sales of automobiles in 2020, thereby leading to a reduction in automotive data management demand as it is dependent on the demand and sales of the automotive industry. However, the demand for automotive data management is on the rise since 2021 due to an increase in connected vehicles.

Mergers & acquisitions, partnerships, agreements, and expansions are the key strategies being adopted by the companies. For instance, in April 2021, Amazon Web Services, Inc. (AWS) and Continental AG entered into a strategic collaboration. Through this long-term collaboration, Amazon Web Services, Inc. serves as the preferred cloud provider and it will help Continental AG in developing CAEdge, a modular hardware and software platform.

Automotive Data Management Market Report Highlights

• Based on components, the software segment held the largest share in 2021 and is anticipated to retain its dominance over the forecast period. This is attributed to consumers' rising demand for customized software solutions for a better driving experience. Moreover, the constant technological advancements in the automotive industry are creating a potential growth opportunity for software
• In terms of data type, the unstructured data segment is expected to expand at a CAGR of 19.3% in the forecast period. A large amount of unstructured data is captured by autonomous and non-autonomous vehicles through cameras, long-range and short-range radar, and LiDAR
• The structured data segment is expected to expand at the fastest CAGR in the forecast period. The growth can be attributed to the increasing demand for structured automotive data from fleet owners and automotive players to enhance the design and performance of driverless cars
• In terms of vehicle type, the non-autonomous segment held the largest revenue share of over 55.0% in 2021. The autonomous segment is expected to register the fastest growth rate over the forecast period. The growth of this autonomous segment can be attributed to the increase in the demand for driverless/autonomous cars and high investment by automotive manufacturers in R&D for driverless vehicles. In July 2020, dSPACE acquired Intempora, a renowned software company. This acquisition will help dSPACE in strengthening its comprehensive product line for autonomous driving
• The cloud deployment segment is anticipated to grow at the fastest rate in the forecast period. The growth of the cloud segment can be attributed to the increasing use of cloud systems in the automotive industry owing to its advantages such as easy and effective management, image data maintenance, flexibility, agility, and scalability
• In terms of application, the driver and user behavior analysis segment accounted for the largest revenue share of over 30.0% in 2021. Through driver and user behavior analysis, companies can discover the driving patterns of automobile operators and spot risky driving behavior to identify policy violations or unsafe practices
• Asia Pacific is expected to grow at the highest rate of 24.0% in the forecast period. The growth can be attributed to the increasing technological advancements in the automotive sector in the region. In addition, China is one of the largest automotive markets in the world. Increasing production and sales of electric vehicles and the adoption of autonomous cars in the region are expected to drive the market in the future