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.
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
Growth Drivers
- Rising Demand for Advanced Infotainment Systems
- Automobile Manufacturers Preference to Integrate New Technologies in their Products
Challenges
- Poor Network Connectivity
- Underdeveloped Cloud Infrastructure
Top Featured Companies Dominating the Market
- Apple Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- BlackBerry Limited
- Verizon Wireless
- Continental AG
- Ericsson AB
- Robert Bosch GmbH
- Airbiquity Inc.
- DENSO Corporation
