PUBLISHER: Inkwood Research | PRODUCT CODE: 1380178
PUBLISHER: Inkwood Research | PRODUCT CODE: 1380178
The Asia-Pacific automotive data monetization market is expected to grow at a CAGR of 35.06% during the forecast period 2023-2030. The region is witnessing a surge in connected car solutions, ride-hailing services, fleet operations, and other related services. This trend is anticipated to generate a substantial volume of data, presenting opportunities for companies to leverage and monetize this data.
China, Japan, India, South Korea, Singapore, Australia & New Zealand, and Rest of Asia-Pacific are evaluated in order to predict the growth of the Asia-Pacific automotive data monetization market. As of January 1, 2019, the central government in India implemented the AIS 140 Motor Vehicles Order, necessitating the installation of location tracking devices and emergency panic buttons in all new public transport vehicles (excluding taxis and rickshaws). This regulatory measure aims to enhance safety for passengers during travel and is anticipated to result in significant automotive data generation, thereby influencing the growth of the automotive data monetization market in the region.
South Korea, being a technologically advanced nation with the infrastructure and expertise, is well-equipped to meet the rising demands for the increasing complexity of automobiles. In South Korea, the adoption of automotive telematics is experiencing rapid growth, propelled by the surging popularity of connected vehicles and the government's initiatives to foster the advancement of smart transportation systems. Leading South Korean automakers, including Hyundai and Kia, are spearheading the development and implementation of these technologies, making substantial investments in research and development.
Some of the leading companies in the market are: Amazon Web Services Inc, Oracle Corporation, etc.