According to the research literature titled ‘Global Automotive Data Monetization Market Analysis, 2021’, available with Market Study Report, global automotive data monetization market size is projected to enlarge at a CAGR of 15% during the forecast period 2021-2026.
 

As per the findings of the report, global automotive data monetization market is largely driven by proliferating sales of hybrid and electric vehicles and growing demand for connected automobile. Moreover, rising investments by industry players in the field along with increasing utilization of data generated by drivers, cars, and mobility to develop products that reduce costs and improve safety & security are adding considerable momentum to the industry growth.
 

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Based on end-user, global automotive data monetization market is fragmented into insurance companies, automotive, mobility operators, fleet management companies, mobility operators, advertising companies, and others.
 

Expert analysts cite that insurance companies grabbed significant industry share in the recent past. Heightened interest of insurance companies towards data monetization as it generated data reveals critical information pertaining to the driver behavior patterns, driver lifestyle, vehicle safety features, and maintenance will continue to stimulate the segment growth.
 

The other key segments covered in the global automotive data monetization market report are component (solution and services) and application (vehicle status monitoring, road condition and environment monitoring, predictive maintenance, drive behavior monitoring, fleet monitoring, vehicle manufacturing, in-vehicle communication, and others).
 

From a regional perspective, North America, South America, Middle East & Africa, Europe, and Asia Pacific are the key contributors to the industry expansion. Speaking of the country level-bifurcation, U.S., Canada, Mexico, Brazil, Argentina, U.K., Germany, Italy, Spain, France, UAE, Qatar, Saudi Arabia, South Africa, China, India, South Korea, Japan, and Australia are the major growth hubs.
 

With respect to the competitive landscape, top-tier players influencing the overall automotive data monetization industry trends are Viavi Solutions Inc., Reltio, Adastra Group, Infosys Ltd., Truata Ltd., SW Solutions, Google LLC, Capgemini SE, IBM Corp., Cisco Systems Inc., and SAP SE.