ASIA-PACIFIC AUTOMOTIVE DATA MONETIZATION MARKET FORECAST 2023-2030

The Asia-Pacific automotive data monetization market growth assessment covers a detailed study of China, Japan, India, South Korea, Singapore, Australia & New Zealand, and Rest of Asia-Pacific. China maintains its status as the global leader in the automotive sector, boasting the highest annual sales and manufacturing output. The presence of numerous joint ventures between Chinese entities, often state-owned, and internationally recognized brands from the US, Japan, South Korea, and Germany, collectively propels the expansion of the automotive and related industries. This substantial market presence, coupled with a robust domestic demand, is anticipated to foster the growth of the automotive data monetization market in the country. In addition to vehicle sales, China has emphasized developing a transportation system for the 14th Five-Year Plan. The circular states that by 2025, the comprehensive transportation system will experience integrated development with a better facility network, more efficient transportation options, and more cutting-edge technological tools.

On the other hand, in 2018, the Japanese government released an outline of the broad spectrum of system-building measures needed for the real-world implementation of automated driving. Subsequently, in 2020, amendments to the Road Traffic Act and the Road Vehicles Act were introduced, making it obligatory for automated driving systems and devices to adhere to safety standards. Additionally, regulations were established outlining the responsibilities of drivers operating vehicles equipped with automated driving systems, including the mandatory inclusion of automated driving event data recorders in such systems. These measures are expected to significantly contribute to the market growth of the country.

The Asia-Pacific automotive data monetization market is segmented into model, deployment and application. The application segment includes insurance, Mobility as a Service (MaaS), predictive maintenance, and government. Insurance companies are looking for new avenues of income development since their old revenue sources are not growing. As a result, insurance is now viewed as a service rather than a product. Because of the insights supplied by the proper combination of data and algorithms, value-added services are becoming more prevalent. The next step in increasing the value of analytics and data is to commercialize it so that businesses may benefit from the same. Insurance companies are the main consumers of data, and they will utilize it to develop dynamic pricing plans based on specific car telemetry metrics.

Future auto markets will be primarily driven by Mobility as a Service, digitally powered carsharing, and ride-hailing, among other things, far exceeding the profitability potential of conventional auto manufacture. Mobility as a Service (MaaS) is essentially a flexible variation on traditional carsharing that provides insightful consumer data by encouraging more frequent customer contact.

Leading players operating in the Asia-Pacific automotive data monetization market include Oracle Corporation, Amazon Web Services Inc, etc. 

Amazon Web Services Inc, headquartered in the United States, provides cloud computing services. The company offers a comprehensive range of cloud infrastructure services, including computing, storage, databases, analytics, networking, mobile, developer tools, augmented reality & virtual reality, robotics, game tech, machine learning, management tools, content delivery, media services, customer engagement, app streaming and security, identity, and compliance.