The cloud-based solutions market for automotive is projected to grow to USD XXXX by 2030, at a CAGR of 19% during the forecast period. Automotive systems technology such as advanced driver assistance systems (ADAS), telematics, and in-car wireless data connectivity evolved year after year. In the automotive industry, the new trend is to produce connected vehicles that feature innovative tech and connect cars and vehicles to their surroundings. IoT development is fueling connected vehicles. As the global automotive industry is currently estimated to be around USD ~ 2.5 trillion, the entire industry is undergoing significant transformation such as with car-sharing, connected vehicles, and other services.
The demand for managed services is anticipated to increase substantially with the establishment of better cloud infrastructure and the integration of cloud-based services in cars and other vehicles. Professional services are not enough to manage the large quantities of data generated. Therefore, managed services will be an effective option for different service providers.
The use of the fleet management framework has increased exponentially with the transformation of the fleet industry and the rise in companies such as car-rental services and logistics & supply chain.
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The needs of automotive companies revolve around large-scale engineering models, analytics, data, and distributor networks and these centralized demands require very powerful infrastructure whose maintenance can prove to be a technical challenge. Such problems can be overcome by cloud computing with its super servers. Additional storage is provided on request, and the time is taken and the process of implementation to adapt the system according to the requirements is also quick and easy.
The Asia Pacific region has seen increasing demand for technologically advanced and reliable vehicles following the integration of IT services with the automotive and transport sectors. This has resulted in the development of an advanced vehicle system. Also, enforcing the safety regulations and building smart cities and networks will cause a shift in passenger car technology to keep them connected to the whole grid.
Key Players in the Market
Some of the key players operating in the global automotive cloud market are apple (US), BlackBerry (Canada), Verizon Wireless (US), Continental AG (Germany), Ericsson (Sweden), and Bosch (Germany) as well as research organizations such as Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA), the Japan Automobile Manufacturers Association (JAMA), European Automobile Manufacturers Association (EAMA).
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Get Valuable Insights into the automotive Cloud Market
In the new report, Fatpos Global thrives to present an unbiased analysis of the global optical coatings market that covers the historical demand data as well as the forecast figures for the period, i.e. 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by vehicle type into passenger and commercial. By service model, the market is bifurcated into professional and managed. By electric vehicles, the market is segmented into HEV, BEV, and PHEV. By application, the market is segmented into Fleet Management, infotainment, OTA updates, telematics, ADAS, and other services and by deployment, the market is bifurcated into private and public. Geographically, the market is segmented into North America, Latin America, Europe, APAC, and MENA.
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