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The market size of Big Data has gotten too big. Increasingly analyst reports are breaking Big Data into smaller market segments and creating separate reports for segments of the total Big Data space, like for “Automotive Big Data“, “Manufacturing Big Data“, “Healthcare Big Data“, and “Financial Market Big Data“.
Let’s just consider the first of these, Automotive Big Data. Automotive Big Data investments are expected to exceed $5 billion by 2021. Estimates by SNS Telecom & IT are that in 2018, $3.3 billion were invested into Automotive Big Data.
Autonomous vehicles are expected to generate massive amounts of data, but even near-term standard vehicles are being increasingly outfitted with sensors of all types. IBM estimates that automobiles will increase the amount of data that they collect by a factor of 10 within the next five years.
Lynne Slowey, member of the IBM IoT Watson team, wrote that “we travel on average 46 minutes a day. That’s a lot of time in your car, and you can feel captive. Our goal is to use cognitive systems to transform how people use their time. Soon every vehicle will be connected. 10 million by 2020, according to Business Insider, or 250 million by 2020, says Gartner. The data footprint will be huge. Data will become the new fuel.”
Startus Insights identified 500 global startup companies in the Automotive Big Data market. Four of these companies are shown in the graphic below.