Increasing Prevalence of Connected Vehicles Worldwide to Boost the Automotive Data Monetization Market through 2027

Increasing Prevalence of Connected Vehicles Worldwide to Boost the Automotive Data Monetization Market through 2027

Increasing Prevalence of Connected Vehicles Worldwide to Boost the Automotive Data Monetization Market through 2027

The Global Automotive Data Monetization Market is projected to grow at a CAGR of 94% in the forecast period of 2022-27, reveals MarkNtel Advisors in their recent research report. The growth of the market is projected to be driven by the swiftly increasing number of connected vehicles and the growing adoption of analytics & big data technologies in automotive applications to minimize operational costs & investments and enhance passenger & vehicle safety. 

Moreover, the highly competitive environment in the automotive industry is generating growth opportunities for the leading players in the market to bring new monetization mechanisms & improve software deployment capabilities in vehicles. It, in turn, shall further boost the global market in the coming years, states the research report, “Global Automotive Data Monetization Market Analysis, 2022.”

Wejo Limited to Contribute Significantly to the Automotive Data Monetization Market through 2027

Wejo Limited is amongst the prominent leaders in connected vehicle data and is popularly known for onboarding & standardizing over 16 million data points per day. It gathers all data live from connected vehicles that enable the company to deliver several mobility intelligence products like live streams, OM applications, aggregated data, etc. For the rapid expansion, Wejo Limited is keeping up with both organic & inorganic practices in order to scale its footprint across the automotive data monetization industry during the forecast period. In 2018, it acquired Carjojo.com as a part of its expansion plans.

Direct Data Monetization Services to Prevail its Dominance through 2027

Direct automotive data monetization services dominated the Global Automotive Data Monetization Market with the largest share in recent years & is anticipated to prevail the same trend during 2022-27. It owes principally to the features of data monetization to sell products, features, services, like networked parking, software add-ons, etc., directly to the customers.

OEMs are extensively adopting this type of automotive data monetization to attain raw data on driving & commuting behaviors, locations, & other aspects to provide better services to the customers. On the other hand, insurance companies also hold significant potential for direct data monetization services to create products & services with dynamic prices depending on complex vehicle parameters like driving pattern, travel location, traffic rule enforcement, etc., reveals MarkNtel Advisors in their research report, "Global Automotive Data Monetization Market Analysis, 2022."

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Key Competitors

According to MarkNtel Advisors, the leading players in the Global Automotive Data Monetization Market are Amazon Web Services, Microsoft Corporation, Continental AG, IBM Corporation, Herman International, Tesla Inc., Wejo Limited, Oracle Corporation, Xevo Inc., Tech Mahindra Ltd., Vinli Inc., Smart, The Floow ltd., Otonomo Technologies., Caruso GmbH.

Key Questions Answered in the Study

  1. What are the current & future trends in the Global Automotive Data Monetization Market?
  2. How has the industry been evolving in terms of geography & service adoption?
  3. How has the competition been shaping across the globe, followed by their comparative factorial indexing?
  4. What are the key growth drivers & challenges for the Global Automotive Data Monetization Market?
  5. What are the customer orientation, purchase behavior, and expectations from the Automotive Data Monetization providers across the globe?

Market Segmentation:

  1. By Application (Insurance, Government, Predictive Maintenance, Mobility-as-a-Service)
  2. By Type (Direct, Indirect)
  3. By Deployment (Cloud, On Premises)
  4. By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)
  5. By Country (The US, Canada, Mexico, Brazil, Germany, The UK, France, Italy, Spain, UAE, Saudi Arabia, Turkey, China, Japan, South Korea, India, Australia & New Zealand, Thailand)
  6. By Competitors (Amazon Web Services, Microsoft Corporation, Continental AG, IBM Corporation, Herman International, Tesla Inc., Wejo Limited, Oracle Corporation, Xevo Inc., Tech Mahindra Ltd., Vinli Inc., Smart, The Floow ltd., Otonomo Technologies., Caruso GmbH)
  7. By Companies (Amazon Web Services, Microsoft Corporation, Continental AG, IBM Corporation, Herman International, Tesla Inc., Wejo Limited, Oracle Corporation, Xevo Inc., Tech Mahindra Ltd., Vinli Inc., Smart, The Floow ltd., Otonomo Technologies., Caruso GmbH)

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