Automotive Data Storage Market Size Worth $8 Billion By 2030: IndustryARC

The Global Automotive Data Storage Market size is predicted to reach $8 billion by 2030, growing at a CAGR of 15.8% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. The increasing demand for in-car infotainment systems and the rising demand for advanced driver assistance systems (ADAS) are poised to propel the market growth, finds IndustryARC in its recent report, titled “Automotive Data Storage Market Size, Share & Trends Analysis Report By Product Deployment Usage (Public Cloud, Private Cloud, Vehicular Storage Unit) By Storage Capacity (Low Capacity [Less than 64GB], Medium Capacity [64GB to 256GB], High Capacity [Above 256GB]), By Vehicle Type (Light Commercial Vehicles, Light Motor Vehicles, Heavy Commercial Vehicles, Specialised Vehicles), By Distribution Channel (Original equipment manufacturer (OEM), Aftermarket), By Application (Telematics, Autonomy Integration, Driving Experience Analysis, Infotainment, Edge Computing, Cockpit Domain Controller (CDC), Central Gateway, Others), By Region and Segment Forecasts, 2023–2030”

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Asia Pacific Register Highest Growth:

The Automotive Data Storage industry in the Asia Pacific region is expanding due to the surge in vehicle production, coupled with a rising demand for advanced infotainment and ADAS systems, is driving this growth. The region’s rapid technological adoption and a burgeoning middle-class population are contributing to increased vehicle ownership. Furthermore, governments in several Asia-Pacific countries are emphasizing technological innovation and investing in the development of smart and connected vehicles. These factors are propelling the automotive data storage market in the region, making it a pivotal hub for industry expansion.

Automotive Data Storage Market 2023-2030: Scope of the Report

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Automotive Data Storage Market Report – Key Takeaways:

Light Motor Vehicles Dominate the Market

The Light Motor Vehicles segment had the largest market share in 2022 owing to the widespread adoption of sophisticated data storage systems for infotainment, navigation and advanced driver-assistance technologies. As modern vehicles increasingly integrate connected features and autonomous capabilities, the demand for robust data storage solutions in LMVs remains consistently high.

This segment’s significant market volume and continuous technological advancements position Light Motor Vehicles as the frontrunners in shaping the trajectory of the automotive data storage market. In 2023, According to SIAM Report, the count of Light Motor Vehicles surged from 475,989 to 603,465 units, indicating a substantial increase compared to the preceding year. This rise in the number of Light Commercial Vehicles underscores the growing demand within this segment and signifies an upturn in the utilization of automotive data storage solutions

Autonomy Integration to Register Highest Growth

Autonomy Integration is analyzed to grow with the highest CAGR during the forecast period. This is owing to the escalating development and integration of autonomous driving systems, demanding extensive data storage for handling copious sensor data, mapping information and sophisticated AI algorithms.

As the automotive industry advances toward autonomous vehicles, the demand for comprehensive data storage solutions for these systems propels Autonomy Integration to lead in rapid market expansion, reflecting the critical role it plays in shaping the future of automotive data storage technologies.

North America is Leading the Market

North America region held a major market share of 36% in 2022 owing to its robust technological innovation and early adoption of advanced automotive technologies. With a high demand for sophisticated infotainment, ADAS and autonomous driving systems, North America remains at the forefront of integrating cutting-edge data storage solutions in vehicles.

Favorable regulatory frameworks and substantial investments in research and development solidify North America’s position as a pivotal hub for driving the evolution and growth of the automotive data storage market. According to Zippia report, In 2023, the overall value of the United States’ car and automobile manufacturing market amounts to $104.1 billion.

This figure reflects the substantial economic scale and significance of the automotive industry, illustrating the pivotal role of data storage technology in supporting the production and innovation within this sector.

Burgeoning Opportunities in In-Vehicle Entertainment

The burgeoning demand for sophisticated entertainment systems within vehicles requires advanced data storage solutions. As consumers increasingly seek immersive and connected experiences during travel, the need for high-capacity data storage for multimedia content, navigation, and connectivity features escalates.

This trend offers a distinct opportunity for the development and integration of innovative storage technologies, fueling market growth by addressing the evolving requirements and preferences of modern vehicle occupants for an enhanced in-car entertainment experience.

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Key Opportunity Analysis:

The Integration of Connected Car Technologies

With the expansion of connected vehicles and the integration of various technologies like IoT and telematics, there’s an increasing need for efficient data storage solutions. As these connected car systems generate vast volumes of real-time data, high-capacity storage becomes pivotal to manage and process this information.

This trend fosters opportunities for advanced data storage technologies, offering a platform for innovation and development in the automotive data storage sector. In 2022, As per Smartcar Report, approximately 91% of all passenger cars sold were equipped with connectivity features.

This substantial figure translates to over 13 million connected vehicles sold solely within the U.S. This trend underscores the significant integration of automotive data storage technologies, which play a fundamental role in supporting and enabling connectivity in modern vehicles

The Emergence of Connected and Autonomous Vehicles (CAVs)

CAVs extensively rely on data storage solutions to manage the vast influx of information from sensors, communication systems, and AI algorithms. As these vehicles become more prevalent, the demand for robust, high-capacity data storage escalates. The integration of CAVs generates prospects for advanced data storage technologies, facilitating the seamless processing and storage of enormous datasets, thereby fostering innovation and development in the automotive data storage sector to meet the evolving needs of connected and autonomous vehicle systems.

Shift towards Edge Computing in Vehicles

With edge computing gaining prominence, there’s a growing need for onboard data storage to facilitate quicker data processing and analysis within vehicles. This transition offers opportunities for developing advanced storage solutions capable of handling the increasing data volume generated by in-car systems. As vehicles demand faster and localized processing capabilities, innovative data storage technologies are essential to support this shift, paving the way for new solutions and advancements in the automotive data storage sector.

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The Report also Covers the Following Areas:

Automotive Data Storage Market Size and Forecast
Automotive Data Storage Market Trends
Automotive Data Storage Market Analysis by Vehicle Type

Automotive Data Storage Market 2023-2030: Key Highlights

CAGR of the market during the forecast period 2023-2030
Value Chain analysis of key stake holders
Detailed analysis of market drivers and opportunities during the forecast period
Automotive Data Storage Market size estimation and forecast
Analysis and predictions on end users’ behavior and upcoming trends
Competitive landscape and Vendor market analysis including offerings, developments, and financials
Comprehensive analysis of challenges and constraints in the Automotive Data Storage Market

Covid and Ukrainian Crisis Impact:

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 as well as 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.

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List of Key Market Players in Automotive Data Storage Market:

The Global Automotive Data Storage Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled 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.
11. Intel Corporation
12. Tuxera Inc.
13. ATP Electronics, Inc.
14. Fujitsu Limited
15. Huawei Technologies Co., Ltd.

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Automated Storage & Retrieval Systems Market – Automated Storage & Retrieval Systems Market size is estimated to reach $13.62 billion by 2030, growing at a CAGR of 6.0% during the forecast period 2024-2030.

5G Data Storage Market – The increasing use of connected devices across various industry verticals and rising demand for 5G services have boosted the 5G Data Storage Industry. Additionally, the rise of advanced technologies such as artificial intelligence and machine learning has produced memory storage that can hold a high volume of digital data such as five-dimensional optical storage, flash memory storage and solid state drives (SSDs). 

Software Defined Storage Market – The rapid growth of unstructured data volumes along with capabilities like ease of management and increased security act as major drivers boosting the growth of software defined storage market. Adoption of Software define Storage (SDS) solutions help in optimizing data management and storage costs with improved flexibility and scalability compared to traditional storage, gaining its wide popularity among various end-use markets.

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IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

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