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Report: Automotive industry to invest $3.3 billion in big data in 2018

Report: Automotive industry to invest $3.3 billion in big data in 2018

Source: ThinkStock

Big data investments in the automotive industry are expected to surpass $3.3 billion in 2018, according to a report by SNS Telecom & IT. 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.

Other key findings:

  • 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 percent over the next three years.
  • Edge analytics, 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 anonymization and dedicated cybersecurity investments – is necessary in order to monetize the swaths of big data that will be generated by a growing installed base of connected vehicles and other segments of the automotive industry.

For the complete report, click here.

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