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This year, the automotive industry is expected to continue its recovery following the headwinds of tough 2020. Interestingly, registration of electric cars in 2020 increased in major markets despite the pandemic [1]. . EVs are going to gain higher market shares in Europe, the United States and China and outpace ICE vehicles sales.
The automotive industry has been on a roller coaster ride of profit and loss in recent years. At the start of the COVID-19 pandemic, automotive sales tumbled in 2020 before surging demand and a global chip shortage sent prices skyrocketing in 2021. This article first appeared in the Customer Strategist.
Insights into what customers want and need are more important than ever as the economy and market conditions change. According to IDC analysts, businesses were estimated to have spent $215 billion in 2021 on big data and business analytics solutions, a 10% increase over 2020.
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