Cloud Based Solutions Market for Automotive to Rise Above US $ 67 billion by the End of 2026

  • 08 May 2019

Vehicle telematics involves complex communication and computing services that are largely facilitated by cloud-based solutions. Modern mobility models aspire autonomous, safe and intelligent transportation systems that can run on smartphones and mobile devices. Cloud-based solutions like infotainment applications, mobile computing, voice and text data communication, unconventional vehicle connectivity, machine learning are expediting the growth of cloud-based solutions market for automotive. Besides such cutting-edge applications customer preferences towards telematics, dependency on digital maps for real-time traffic information and advanced driver assistance system is inducing positive growth opportunities for the market.

The global cloud-based solutions market for automotive is forecasted to value over US $ 67 billion by the end of 2026, and registering a CAGR of 18.99% from 2019 to 2026.

Cloud Based Solutions Market for Automotive, By Application 
•    Fleet Management Application 
•    Infotainment System
•    Over the Air (OTA) Updates
•    Telematics
•    ADAS
•    Other Services 
Demand for updated fleet management applications and infotainment systems is already showing high growth, especially in the APAC region. However, in an effort to reduce traffic congestion and fuel costs shared mobility and in-car data services of the other services segment is expected to grow at massive CAGR during the forecast period. The major challenge faced by such applications is the poor cloud infrastructure, cybersecurity and uneven network connectivity. 

Cloud Based Solutions Market for Automotive, By Service Model 
•    Professional Services
•    Managed Services
Integration of cloud-based services commercial and private vehicles along with better cloud infrastructure is estimated to result in the robust growth of the professional services segment. However, increased need for data security and data management back-end support is expected to pose challenges to this segment of the cloud-based services for the automotive market in the upcoming years.

Cloud Based Solutions Market for Automotive, By Deployment Type 
•    Private Cloud
•    Public Cloud

Cloud Based Solutions Market for Automotive, By Electric Vehicle Type 
•    Battery Electric Vehicle 
•    Hybrid Electric Vehicle 
•    Plug-In Hybrid Electric Vehicle 

Cloud Based Solutions Market for Automotive, By Vehicle Type 
•    Passenger Car
•    Commercial Vehicle

Cloud Based Solutions Market for Automotive, By Region 
•    North America 
•    Europe 
•    Asia Pacific 
•    Reat of the World
North America holds the largest revenue share in the global cloud-based solutions market for automotive due to high user penetration, high-end cloud infrastructure and espousal of advanced automotive technologies. Europe is the second largest in terms of growth opportunities in the global cloud-based solutions market for automotive. APAC region is expected to grow at a lucrative CAGR as the need for vehicle electrification and passenger cars are to surge during the forecast period. 


Competitive Landscape:  
•    Tier 1 players- established companies in the market with a major    market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrant
s  
 

FutureWise Key Takeaways: 
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 


Objectives of the Study: 
•    To provide with an exhaustive analysis on the cloud based solutions market for automotive on the basis of application, service model, deployment type, electric vehicle type, vehicle type and region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

 

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