Big data investments in the car industry to grow 16% in next four years, says SNS Research

A new automotive industry research report released by SNS Research forecasts a 16% growth (CAGR) in big data investments over the next four years. The report is out now and totals 501 pages with 99 Tables and figures.

“Big Data” originally emerged as a term, says SNS, to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyse. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyse large and variable collections of data, to solve complex problems.

Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors. The automotive industry is no exception to this trend, where Big Data has found a host of applications ranging from product design and manufacturing to predictive vehicle maintenance and autonomous driving.

SNS Telecom & IT estimates that Big Data investments in the automotive industry will account for more than US$3.3 billion (€2.90 billion) in 2018 alone. Led by a plethora of business opportunities for automotive OEMs, tier-1 suppliers, insurers, dealerships and other stakeholders, these investments are further expected to grow at a CAGR of approximately 16% over the next three years.

Report presents an in-depth assessment of Big Data in the automotive industry including key market drivers, challenges, investment potential, application areas, use cases, future roadmap, value chain, case studies, vendor profiles and strategies. The report also presents market size forecasts for Big Data hardware, software and professional services investments from 2018 through to 2030.

The forecasts are segmented for 8 horizontal submarkets, 4 application areas, 18 use cases, 6 regions and 35 countries. The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.

The report has the following key findings:

In 2018, Big Data vendors will pocket more than $3.3 Billion (€2.90 billion) from hardware, software and professional services revenues in the automotive industry. These investments are further expected to grow at a CAGR of approximately 16% over the next three years, eventually accounting for over $5 Billion (€4.40 billion) by the end of 2021.

Through the use of Big Data technologies, automotive OEMs and other stakeholders are beginning to exploit vehicle-generated data assets in a number of innovative ways ranging from predictive vehicle maintenance and UBI (Usage-Based Insurance) to real-time mapping, personalised concierge, autonomous driving and beyond.

Edge analytics, which refers to the processing and analysis of information closer to the point of origin, is increasingly becoming an indispensable capability for applications such as autonomous driving where real-time data – from cameras, LiDAR and other on-board sensors – needs to be acted upon instantly and reliably.

Privacy continues to remain a major concern, and ensuring the protection of sensitive information – through creative anonymisation and dedicated cybersecurity investments – is necessary in order to monetise the swaths of Big Data that will be generated by a growing installed base of connected vehicles and other segments of the automotive industry.

Topics Covered:

The report covers the following topics:

  • Big Data ecosystem
  • Market drivers and barriers
  • Enabling technologies, standardisation and regulatory initiatives
  • Big Data analytics and implementation models
  • Business case, application areas and use cases in the automotive industry
  • Over 35 case studies of Big Data investments by automotive OEMs and other stakeholders
  • Future roadmap and value chain
  • Profiles and strategies of over 270 leading and emerging Big Data ecosystem players
  • Strategic recommendations for Big Data vendors, automotive OEMs and other stakeholders
  • Market analysis and forecasts from 2018 till 2030

Comment on this article below or via Twitter: @IoTNow_OR @jcIoTnow

FEATURED IoT STORIES

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, iot home automation is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more
RECENT ARTICLES

What is a vCIO and why do SMEs need them to thrive?

Posted on: September 28, 2021

The pandemic forced many small and medium-sized companies to rethink their business plans and the technologies they use. The hybrid and remote workforce has spawned technology challenges, including cross-team collaboration and vulnerabilities. Additionally, says Gary Pica, founder and president of TruMethods, a Kaseya company, many businesses are now evaluating regulatory issues and boosting cybersecurity measures.

Read more

Truphone enables mass IoT deployments with iSIM collaboration

Posted on: September 28, 2021

Truphone has announced that, in collaboration with Sony Semiconductor Israel Ltd., a cellular IoT chipset provider, and Kigen, a global security provider, it has enabled its IoT platform and global connectivity to run on the integrated SIM of Sony’s Altair cellular IoT chipsets, powered by Kigen iSIM OS.

Read more