EUROPE AUTOMOTIVE DATA MONETIZATION MARKET FORECAST 2023-2030

The Europe automotive data monetization market growth assessment covers a detailed study of the United Kingdom, Germany, France, Italy, Spain, Belgium, Poland, and Rest of Europe. The automotive data monetization market in the United Kingdom is experiencing substantial growth, fueled by several pivotal factors. Automotive companies are progressively leveraging data analytics to predict optimal maintenance timings for vehicles, resulting in reduced downtime and operational costs. Furthermore, data-driven insights are being utilized to tailor services and products, effectively meeting the distinctive needs of individual customers. Commercial electric cars have increased in use in major cities such as London and Manchester. London EV Company Limited, an electric taxi manufacturer in London, would need advanced telematics and data monitoring to keep track of its commercial fleet. 

Germany’s automotive sector plays a pivotal role as the country’s leading industry, occupying a prominent position as the primary market and manufacturer in Europe. Additionally, it stands out globally as a key export leader, driving advancements and innovations in mobility. The automotive data monetization market in Germany presents significant opportunities for automotive enterprises, data firms, and governmental bodies. Automotive companies can leverage data to enhance their offerings, curtail expenses, and innovate novel business models. Data-centric companies have the potential to create innovative, data-driven solutions tailored for the automotive sector.

Accordingly, government agencies can harness data to ameliorate traffic management, alleviate congestion, and enhance road safety measures. This nation hosts globally renowned automotive manufacturers along with a robust technology sector. The convergence of these factors, along with the growing acceptance of connected vehicles and autonomous driving advancements, establishes a lucrative environment for the monetization of automotive data.

The Europe automotive data monetization market is segmented into model, deployment and application. The deployment segment includes cloud and on-premises. The cost of cloud data storage is typically lower than that of on-premise options. Using the cloud, businesses can purchase a certain quantity of storage space based on their demands. Another advantage of cloud data storage is the accessibility of data from any location. Customers of cloud services are often given the IP address login details required for online cloud access.

On-premise refers to the practice of storing data on servers, computers, or other devices located within a company’s physical facilities. For example, a corporation may procure a server for data storage. Once acquired, the company installs the server and transfers data to it within its own premises. This method of data storage is referred to as on-site storage. Given its considerable expenses, numerous businesses exhibit reluctance in opting for on-premise storage. Security is, nonetheless, a major advantage of data storage on premise. While no single approach is 100% effective in avoiding violations, local storage of data reduces such instances.

Leading players operating in the Europe automotive data monetization market include Otonomo Technologies Ltd, Continental AG, etc. 

Continental AG, headquarters in Germany, is a manufacturer and supplier of automotive parts. Its product portfolio comprises tires, brake systems, chassis and safety parts, vehicle electronics, rubber and plastic-based products, powertrain products, actuators, and interior products.