Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
The automotive data cloud technology market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Cloud computing has enormous scope in the forthcoming years leading to safer vehicles. The automobile manufacturers have opted latest technology and took innovation to offer best-in-class facilities to customers. Another important aspect of cloud computing in the automotive industry is the adoption of green technology.
The automotive industry is constantly encountering environmental issues, and today's consumers are aware and finding alternative forms of transportation. With the cloud's help, vehicles can embrace green technology for efficient driving and reduce CO2 emissions. Cloud computing develops the required systems and processes to build and design electric vehicles. It results in lower costs in inventory planning, replenishment, forecasting, and transport scheduling and optimization.
The market is segmented on application into fleet management, infotainment systems, telematics, over the air updates, ADAS, and others, out of which the fleet management segment is anticipated to grab the largest share by the end of 2021. Due to the growing businesses such as car-rental services and logistics & supply chain, fleet management applications have increased considerably, leading to the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE
On the basis of the service model, the managed services in the global automotive data cloud technology market are projected to grow with a significant CAGR over the forecast period. The growth of the segment is due to higher cloud infrastructure and integration of cloud-based services in cars and vehicles.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia-Pacific is predicted to grow at the highest CAGR over the forecast period as the government has taken initiatives like they have mandated for fleet vehicles to have telematics systems and pre-installed satellite positioning so as to enhance fuel economy and vehicle wear. The automotive cloud-based solutions in Europe are growing at a gentle pace due to the vehicles in the region are equipped with high-end entertainment and safety features.
Another driving factor is increasing popularity of connected cars among consumer due to the offerings like remote anti-theft alarms. In addition to this, telematics insurance is fashioning around the developing countries. Japan’s automotive industry already took an initiative to tie up with insurance company.
For instance, in 2017, Asia's most populous Japanese company named mS&AD [mitsui Sumitomo and Aioi Nissay Dowa] announced it would obtain a controlling stake in a UK telematics insurance company InsuretheBox and its parent company, Gibraltar-based Box Innovation Group, from Lloyd's insurer Catlin. This deal sparked the expansion of telematics in Japan.
The global automotive data cloud technology market is further classified on the basis of region as follows:
Our in-depth analysis of the global automotive data cloud technology market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising demand for advanced infotainment systems and increasing focus of automobile manufacturers to integrate the new technologies in their products are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Poor network connectivity and underdeveloped cloud infrastructure are estimated to hamper market growth.
Poor network connectivity and underdeveloped cloud infrastructure are estimated to hamper market growth.
The major players dominating the automotive data cloud technology market are Apple Inc., BlackBerry Limited, Robert Bosch GmbH, Ericsson AB, and Continental AG among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application, service model, deployment type, vehicle type, electric vehicle type and region.
With respect to application, the fleet management segment is anticipated to hold the largest market share owing to the increase in car-rental services and modernization of the fleet business.
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