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Automotive Data Storage Market - Forecast(2024 - 2030)
Automotive Data Storage Market Overview:
Automotive Data Storage Market size is estimated to reach $8 Billion by 2030, growing at a CAGR of 15.8% during the forecast period 2023-2030. The surging demand for in-vehicle infotainment systems and the increasing demand for advanced driver assistance systems (ADAS) including features like adaptive cruise control and lane-keeping, fuels the need for data storage for sensor data and real-time analysis are propelling the Automotive Data Storage Market growth. Additionally, the growing consumer expectations for sophisticated in-car entertainment and connectivity, necessitating enhanced data storage solutions are creating substantial growth opportunities for the Automotive Data Storage Market. Moreover, growing demand for data storage in EVs for battery management and energy efficiency optimization. As per the International Energy Agency (IEA) reports a remarkable surge in the electric car market, surpassing 10 million sales in 2022. This growth highlights the increasing demand for innovative automotive technologies such as advanced data storage solutions required to manage the extensive data needs associated with electric vehicle systems. These factors positively influence the Automotive Data Storage industry outlook during the forecast period.
Market Snapshot:
Automotive Data Storage Market - Report Coverage:
The “Automotive Data Storage Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Automotive Data Storage Market.
| Attribute | Segment |
|---|---|
By Product Deployment Usage
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By Storage Capacity |
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By Vehicle Type |
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By Distribution Channel |
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By Application |
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By Geography |
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COVID-19 / Ukraine Crisis - Impact Analysis:
• The COVID-19 pandemic has significantly influenced the automotive data storage market. Supply chain disruptions, reduced manufacturing capacities, and a decline in vehicle production worldwide have impacted the demand for data storage components in vehicles. With a temporary slowdown in automotive sales and production, the integration of advanced data storage systems faced challenges, affecting market growth. However, the increased focus on digitization and connectivity in vehicles, driven by the pandemic, accelerated the adoption of advanced storage solutions to support emerging technologies like autonomous driving and in-car entertainment.
• Escalating geopolitical tensions and potential disruptions in the supply chain for critical raw materials, especially related to electronics and semiconductors, impacted the production and availability of vehicles. Uncertainty surrounding trade relations and market instability could lead to further disruptions in sourcing components, potentially affecting the manufacturing and integration of data storage solutions in vehicles. Geopolitical complexities may influence market dynamics, impacting the global flow of automotive data storage components and technologies. Industry stakeholders face increased risks related to supply chain dependencies, which influence market stability and product availability.
Key Takeaways:
• Fastest Growth Asia-Pacific Region
Geographically, in the global Automotive Data Storage Market share, Asia Pacific is analyzed to grow with the highest CAGR of 17.0% during the forecast period 2023-2030 owing to the Rapid technological advancements, increasing automotive production, and the rising adoption of advanced vehicles contribute to this expansion. With a burgeoning demand for connected cars and electric vehicles, the need for efficient data storage solutions is escalating. Additionally, the surge in smart infrastructure development and government initiatives further propels the market's growth and positioning Asia-Pacific as a pivotal hub for automotive data storage solutions. As per the Ministry of Electronics and Information Technology (MeitY), the Indian automotive data storage sector is projected to reach ₹21,600 crores by the year 2028. This forecasted growth in the automotive data storage domain underlines the expanding significance of robust data storage solutions within India's automotive industry.
• Light Commercial Vehicles to Register the Fastest Growth
In the Automotive Data Storage Market analysis, the Light Commercial Vehicles (LCV) segment is estimated to grow with the highest CAGR during the forecast period owing to the expanding demand for last-mile delivery services, driven by the growth of e-commerce and logistics. LCVs require advanced data storage solutions to support efficient fleet management, real-time tracking, navigation, and connectivity systems. As the need for agile and connected delivery operations increases, LCVs are expected to spearhead the adoption of cutting-edge data storage technologies, making them the fastest-growing segment in this market. In 2022, according to IEA, the total exports of Light commercial Vehicles saw a remarkable upswing, surging by nearly 60% and surpassing 2.5 million. This stark disparity between increased exports and reduced imports of passenger cars accentuates the pronounced shift in the automotive landscape, pointing to evolving trends in the global automotive data storage and manufacturing sectors.
• Infotainment Leading the Market
According to the Automotive Data Storage Market forecast, Infotainment held the largest market share in 2022 owing to its prevalence in modern vehicles, demanding extensive data storage for multimedia content, navigation and entertainment systems. The ever-evolving consumer demand for in-car entertainment features and connectivity ensures a continuous and substantial need for data storage solutions. As technology advances, Infotainment remains a driving force in shaping the automotive data storage market, with its capacity to deliver engaging and innovative experiences to vehicle occupants.
• The Elevated Demand for Advanced Driver Assistance Systems (ADAS)
ADAS featuring technologies such as collision avoidance, lane departure warning and adaptive cruise control, relies heavily on extensive data processing and storage. The surge in consumer preference for safer and more automated driving experiences intensifies the need for powerful data storage solutions to handle the influx of sensor data and real-time analysis. This upsurge in ADAS deployment within vehicles, coupled with regulatory efforts to enhance road safety, is instrumental in driving the market's growth, compelling the development and integration of advanced data storage systems within automotive technologies. In 2022, According to National Safety Council, the average age of passenger vehicles in the United States has experienced an 8% increase. Presently, the average age stands at 12.1 years. This aging trend in the U.S. vehicle fleet indicates an extended period for the full safety benefits of Advanced Driver Assistance Systems (ADAS) technologies to be realized.
• The Surging Demand for In-Vehicle Infotainment Systems
Consumers' escalating expectations for connected and entertaining driving experiences fuel the need for robust data storage solutions. Infotainment systems, encompassing multimedia content, navigation, and connectivity features, require substantial storage capacity. As the automotive industry advances towards more sophisticated and immersive in-car entertainment, the need for reliable and expansive data storage grows. This rise in demand for in-vehicle infotainment systems acts as a primary driver, fostering the development of advanced data storage technologies to meet the evolving requirements and preferences of modern vehicle occupants, thus shaping the automotive data storage market's trajectory. According to Forbes Report, the proliferation of infotainment systems and in-vehicle screens has led to an increase in the use of devices while driving, rising to 3.4% in 2021. This escalation in device usage while driving is directly correlated to the advancements in automotive data storage technology that support these infotainment systems
• High Cost of Automotive Data Storage Solutions Hamper Market Growth
The high cost of integrating advanced data storage technologies within vehicles impedes widespread adoption. Manufacturers confront challenges in balancing innovation with cost-effectiveness, particularly impacting budget-sensitive vehicle segments. Addressing this hurdle requires advancements in cost-efficient solutions and scaling production for economies of scale. Mitigating these elevated expenses is crucial for broader accessibility, encouraging widespread integration of data storage solutions in vehicles and fostering market growth in the automotive data storage sector.
Automotive Data Storage Market Share (%) By Region, 2022
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Automotive Data Storage Market. The top 10 companies in this industry are listed below:
1. Western Digital Corporation
2. Dell Inc.
3. Seagate Technology Holdings plc
4. Kioxia Corporation
5. Marvell Semiconductor
6. IBM Corporation
7. Phison Electronics Corporation
8. Micron Technology, Inc.
9. Tuxera Inc.
10. Pure Storage, Inc.
Scope of the Report:
| Report Metric | Details |
|---|---|
Base Year Considered | 2022 |
Forecast Period | 2023–2030 |
CAGR | 15.8% |
Market Size in 2030 | $8 Billion |
Segments Covered | Product Deployment Usage, Storage Capacity, Vehicle Type, Distribution Channel, Application and Region |
Geographies Covered | North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
Key Market Players |
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1.Automotive Data Storage Market - Overview
1.1. Definitions and Scope
2.Automotive Data Storage Market - Executive Summary
3.Automotive Data Storage Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4.Automotive Data Storage Market - Start-up Companies Scenario (Premium)
4.1. Key Start-up Company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Venture Capital and Funding Scenario
5.Automotive Data Storage Market – Market Entry Scenario Premium (Premium)
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6.Automotive Data Storage Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.4.1. Bargaining Power of Suppliers
6.4.2. Bargaining Powers of Customers
6.4.3. Threat of New Entrants
6.4.4. Rivalry Among Existing Players
6.4.5. Threat of Substitutes
7.Automotive Data Storage Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8.Automotive Data Storage Market – by Product Deployment Usage (Market Size – $Million/$Billion)
8.1. Public Cloud
8.2. Private Cloud
8.3. Vehicular Storage Unit
9.Automotive Data Storage Market – by Storage Capacity (Market Size – $Million/$Billion)
9.1. Low Capacity (Less than 64GB)
9.2. Medium Capacity (64GB to 256GB)
9.3. High Capacity (Above 256GB)
10.Automotive Data Storage Market – by Vehicle Type (Market Size – $Million/$Billion)
10.1. Light Commercial Vehicles
10.2. Light Motor Vehicles
10.3. Heavy Commercial Vehicles
10.4. Specialised Vehicles
11.Automotive Data Storage Market – by Distribution Channel (Market Size – $Million/$Billion)
11.1. Original equipment manufacturer (OEM)
11.2. Aftermarket
12.Automotive Data Storage Market – by Application (Market Size – $Million/$Billion)
12.1. Telematics
12.2. Autonomy Integration
12.3. Driving Experience Analysis
12.4. Infotainment
12.5. Edge Computing
12.6. Cockpit Domain Controller (CDC)
12.7. Central Gateway
12.8. Others
13.Automotive Data Storage Market – by Geography (Market Size – $Million/$Billion)
13.1. North America
13.1.1. The U.S.
13.1.2. Canada
13.1.3. Mexico
13.2. Europe
13.2.1. UK
13.2.2. Germany
13.2.3. France
13.2.4. Italy
13.2.5. Spain
13.2.6. Russia
13.2.7. Rest of Europe
13.3. Asia-Pacific
13.3.1. China
13.3.2. India
13.3.3. Japan
13.3.4. South Korea
13.3.5. Australia & New Zealand
13.3.6. Rest of Asia-Pacific
13.4. South America
13.4.1. Brazil
13.4.2. Argentina
13.4.3. Chile
13.4.4. Colombia
13.4.5. Rest of South America
13.5. Rest of the World
13.5.1. Middle East
13.5.2. Africa
14.Automotive Data Storage Market – Entropy
15.Automotive Data Storage Market – Industry/Segment Competition Landscape Premium
15.1. Market Share Analysis
15.1.1. Market Share by Vehicle Type – Key Companies
15.1.2. Market Share by Region – Key Companies
15.1.3. Market Share by Country – Key Companies
15.2. Competition Matrix
15.3. Best Practices for Companies
16.Automotive Data Storage Market – Key Company List by Country Premium Premium
17.Automotive Data Storage Market - Company Analysis
17.1. Western Digital Corporation
17.2. Dell Inc.
17.3. Seagate Technology Holdings plc
17.4. Kioxia Corporation
17.5. Marvell Semiconductor
17.6. IBM Corporation
17.7. Phison Electronics Corporation
17.8. Micron Technology, Inc.
17.9. Tuxera Inc.
17.10. Pure Storage, Inc.
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The Automotive Data Storage Market is projected to grow at 15.8% CAGR during the forecast period 2023-2030.
The Global Automotive Data Storage Market size is estimated to be $3 Billion in 2023 and is projected to reach $8 Billion by 2030.
The leading players in the Automotive Data Storage Market are Western Digital Corporation, Dell Inc., Seagate Technology Holdings plc, Kioxia Corporation, Marvell Semiconductor and others.
The integration of connected car technologies, the emergence of connected and autonomous vehicles (CAVs) and the shift towards edge computing in vehicles are some of the major Automotive Data Storage Market trends in the industry which will create growth opportunities for the market during the forecast period.
The surging demand for in-vehicle infotainment systems is driving the market growth. The growing adoption of connected and autonomous vehicles (CAVs) is creating substantial growth opportunities for the Automotive Data Storage Market.