Automotive Data Cloud Technology Market Size, Share, Growth and Report [2029]

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Report ID: 2963 | Published On: Feb 01, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.

In The News

Automotive Data Cloud Technology Market Highlights 2022-2030

The automotive data cloud technology market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. 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.

Automotive Data Cloud Technology Market

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 2022. 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.

On the basis of the service model, the managed services segment 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. CLICK TO DOWNLOAD SAMPLE

Automotive Data Cloud Technology Market Regional Synopsis

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. 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 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.

The global automotive data cloud technology market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global automotive data cloud technology market includes the following segments:

By Application

Fleet Management
Infotainment
Over the Air (OTA)
Telematics
ADAS
Others

By Electric Vehicle Type

Battery Electric Vehicle (BEVs)
Hybrid Electric Vehicle (HEVs)
Plug-In Hybrid Electric Vehicles (PHEVs)

By Vehicle Type

Passenger Cars
Commercial Vehicles

By Service Model

Professional Services
Managed Services

By Deployment

Private Cloud
Public Cloud

Key Questions Answered in the Report

1) What are the major factors driving the growth of the automotive data cloud technology market?

Ans: 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.

2) What would be the CAGR of automotive data cloud technology market over the forecast period?

Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

3) What are the challenges affecting the automotive data cloud technology market growth?

Ans: Poor network connectivity and underdeveloped cloud infrastructure are estimated to hamper market growth.

4) Which region will provide more business opportunities for growth of automotive data cloud technology market in future?

Ans: Poor network connectivity and underdeveloped cloud infrastructure are estimated to hamper market growth.

5) Who are the major players dominating the automotive data cloud technology market?

Ans: 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.

6) How are the company profiles selected?

Ans: 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.

7) What are the segments in the automotive data cloud technology market?

Ans: The market is segmented by application, service model, deployment type, vehicle type, electric vehicle type and region.

8) Which segment under the application segment captures the largest market size in the automotive data cloud technology market?

Ans: 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.