Global Automotive Cloud Based Solutions Market has valued at US$ xx Million and expected to reach US$ XX Million by 2027 at a CAGR of xx% during the forecast period.
Automotive Cloud-Based Solutions facilitates the flow of data generated from the vehicle, vehicle users and surrounding environment around vehicle and process the data in order to provide actionable insights, decisions, or tasks to the user.
The report covers an in-depth analysis of COVID 19 pandemic impact on Global Automotive Cloud-Based Solutions Market by region and on the key players’ revenue affected till July 2020 and expected short-term and long-term impact on the market.
Global Automotive Cloud Based Solutions Market
In connected vehicles using cloud-based advanced driver-assistance systems (ADAS) services like Collaborative Intelligent Transport System (C-ITS), Vulnerable road user protection, and Human-Machine-Interfaces (HMI), the driver is informed about the road traffic conditions, pedestrian’s presence in blind spots, lane assistance, parking assistance, and simplification of road signs along with the navigation. Stringent government policies related to autonomous vehicles’ safety issues and privacy concerns are expected to increase the deployment of cloud solutions that are able to enhance the decisions making of the autonomous driving algorithms. The increasing favorable trend towards the connected and autonomous vehicles that enhance the safety of driver and pedestrians are the driving factors for the increased deployment of the cloud solutions in automotive. Smartphones and internet connectivity with developments in the 5G technologies is expected to contribute to rapid growth in the connected vehicles.
Increasing penetration of ride-sharing service providers that are driven by the virtues of affordability and eco-friendliness utilize cloud-based automotive telematics technology to provide on-demand mobility. The use of telematics technology facilitates the ride-sharing service company to optimize the fleet by means of planned maintenance, remote monitoring of vehicle health, and reduce accidents by eliminating the harsh drivers. Increasing consumer demand for cloud-based infotainment services has urged ride-sharing service companies to integrate different cloud solutions into the vehicles. Expansion of the logistics transportation sector on account of the booming e-commerce sector and growth in supply chain optimization efforts has led incumbents to employ fleet management cloud solutions in order to optimize the operations supplement cost reduction. The use of fleet management cloud solutions is contributing to Global Automotive Cloud-Based Solutions’ market growth.
Connectivity problems in the regions with poor infrastructure and cyber security threats are the factors restricting the market growth.
Based on application, Fleet management segment is expected to dominate the global Automotive Cloud Based Solutions Market registering the CAGR of xx% during the forecast period. Growth in the e-commerce industry and forward integration in the logistics sector by the e-commerce companies have forced the logistics incumbents to increase the cost cutting efforts. Cloud-based solutions for commercial vehicles fleet optimization that assists the company in cost-cutting efforts is expected to be the contributing factor for the growth in the segment. Rise of the on-demand mobility services across different geographies and growing focus of the manufacturers on supply chain management are anticipated to add to the segment’s growth.
Global Automotive Cloud Based Solutions Market1
North America is expected to account for the major market share and register a CAGR of xx% during the forecast period 2020-2027. North America held xx% of Global Automotive Cloud Based Solutions market share in 2019. Key players in the logistics transportation sector seeking to optimize the commercial vehicle fleets in order to reduce the cost of operations are expected to be the contributing factor for the dominance. According to the US Bureau of Transportation Statistics, the sales of commercial vehicles were 10,134,000 units in 2019. Integration of cloud-based telematics in vehicles, infotainment systems in rear the seat of premium luxury vehicles by automotive manufacturers in order to satiate demand from the consumers and considerable purchasing power in the region is expected to boost the regional market. Developments in autonomous vehicle technologies and early commercialization of the technology in the region are expected to add to the demand for cloud-based solutions.
Asia Pacific is expected to be the fastest-growing region and register CAGR of xx% during the forecast period 2020-2027. Deployment of the cloud based infotainment systems in premium vehicles, increasing penetration of the ride sharing companies in the countries like China, India, Australia, Indonesia South Korea and growth in the vehicles sales in the region is expected to contribute to the market growth.
The MMR reports cover key developments in the Automotive Cloud Based Solutions market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product approvals product launches, and others. Inorganic growth strategies activities witnessed in the Automotive Cloud Based Solutions market were mergers acquisitions and collaborations partnership.
The objective of the report is to present a comprehensive analysis of the Global Automotive Cloud-Based Solutions Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Automotive Cloud Based Solutions Market dynamics, structure by analyzing the market segments and project the Global Prognostics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Prognostics Market make the report investor’s guide.
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Scope of Global Automotive Cloud Based Solutions Market
Global Automotive Cloud Based Solutions Market, by Application
• Fleet Management
• Over the Air (OTA) Updates
• Other Services (Shared Mobility, In-Car data etc.)
Global Automotive Cloud Based Solutions Market, by Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
Global Automotive Cloud Based Solutions Market, by Deployment
• Private Cloud
• Public Cloud
Global Automotive Cloud Based Solutions Market Segmentation, by Region
• North America
• South America
• Middle East Africa
Global Automotive Cloud Based Solutions Market Major Players
• BlackBerry Limited
• Verizon Wireless
• Continental AG
• Tomtom International Bv
• Airbiquity Inc.
• Trimble Inc.
• Robert Bosch GmbH
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