Automotive Cloud Based Solutions Market: Global Industry Analysis and Forecast (2023-2029)

Automotive Cloud Based Solutions Market reached a value of US $ 3.85 Bn. in 2022. Global Automotive Cloud Based Solutions Market size is estimated to grow at a CAGR of 11.57 %. The market is expected to reach a value of US $ 8.30 Bn. in 2029.
Automotive Cloud Based Solutions Market Overview and Dynamics:
Cloud-based solutions for automotive is an open infrastructure for data from cars and the automotive supply chain. It offers access to information from different sources, with manufacturers, dealers, and other partners. Such as, it can expand supply chain visibility and resolve issues faster. Therefore, it will help the automotive industry plan its activities more profitably and efficiently.

The launch of new products is expected to drive the growth of the automotive cloud-based solutions market during 2023-2029. For example, in Dec 2021, AWS (Amazon Web Services) launched AWS FleetWise, a new cloud-based data service that permits automakers to collect and retrieve sensor and telemetry data from their vehicle fleets.

Furthermore, the launch of cloud-native retail operating platforms is also estimated to drive the growth of the global market for automotive cloud market over the forecast period. For instance, in July 2021, Tekion, a technology company, launched Zero-Contact Digital Sales, and Service, consumer-facing products for dealers. The applications are part of the company's Automotive Retail Cloud, a cloud-native retail operating platform.To know about the Research Methodology:- Request Free Sample Report

Increasing adoption of vehicle infotainment is expected to offer lucrative growth opportunities for players in the global automotive cloud-based solutions market. Such as, in Feb 2021, Ford Motors signed a 6-year agreement with Google GOOG to influence the Google Cloud Platform to power vehicle infotainment.

However, underdeveloped economies and remote areas do not have the IT infrastructure to have cloud platforms and software or even to handle such platforms and safeguard them from the attacks from the rising number of hackers. Insufficient disposable income in emerging economies, high cost of such automotive, are the main restraints for the automotive cloud-based solutions market globally.
Segment Analysis:
Global Automotive Cloud Based Solutions Market is segmented into product and application. The MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the automotive cloud based solutions market size.

In 2022, the fleet management segment accounted for a dominant share of over 32.10%.

Based on Application, the fleet management segment held the largest market share of 32.10 % in 2022 and is projected to grow at the highest CAGR of 12% over 2023-2029. This is expected owing to the deployment of fleet management solutions and services across various countries especially in APAC countries such as India and China. The use of the fleet management framework has increased exponentially with the transformation of the fleet industry and the increase in companies like car-rental services and logistics and supply chain. Applications that drive cloud-based solutions for the automotive market comprise infotainment, fleet management, telematics, ADAS, OTA updates, and other services.

The passenger vehicles segment is projected to grow at the highest CAGR of 7.25% over 2023-2029.

By Vehicle Type, the passenger vehicles segment is expected to grow at a CAGR of 12.25% during 2023-2029 thanks to robust mounting passenger vehicle sales. The growing deployment of advanced technologies to improve customer experience and reduce road accidents. Also, the increasing collaboration between companies and automotive OEMs for emerging automated driving functions for passenger cars are factors fueling the demand for the automotive cloud in the passenger sector.
The Asia Pacific to Retain Lead through 2029:
APAC market was valued at US$ xx Bn. in 2022 and is expected to reach a value of US$ xx Bn. by 2029, with a CAGR of xx% during the forecast period. This growth is driven by growing demand for technologically advanced and reliable vehicles following the integration of IT services with the automotive & transport sectors. This has resulted in the growth of an advanced vehicle system. The emergence of driving help technologies has encouraged OEMs to choose cloud-based services to satisfy the continuing trends in the market. The development of the IT & communication infrastructure is expected to drive the market for automotive cloud-based solutions on the APAC market. Particularly in India & China, this market is highly growing.
Key Development:
The competitive landscape section in the automotive cloud based solutions market offers a deep dive into the profiles of the leading companies operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects about the key players having a stronghold in the automotive cloud based solutions market.

The objective of the report is to present a comprehensive analysis of the Automotive Cloud Based Solutions Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help understand the Automotive Cloud Based Solutions Market dynamic and structure by analyzing the market segments and projecting the Automotive Cloud Based Solutions Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Cloud Based Solutions Market make the report investor’s guide.
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Automotive Cloud Based Solutions Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$3.85  Bn.


Forecast Period 2023 to 2029 CAGR:
11.57 %
Market Size in 2029:
US$ 8.30 Bn.


 Segments Covered:
by Vehicle Type
Passenger Vehicles
Commercial Vehicles


by Propulsion Type
IC Engine Vehicle
Electric Vehicles


by Deployment Type
Private Cloud
Public Cloud


by Application
Infotainment Systems
Telematics
Fleet Management
OTA (Over the air) Systems
ADAS (Advanced driver-assistance systems)
Others



Automotive Cloud Based Solutions Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are:
1.Blackberry Limited
2.Harman International
3.Verizon Wireless
4.Continental AG
5.Robert Bosch GmbH
6.Denso Corporation
7.Trimble Inc.
8.Sierra Wireless
9.Delphi Automotive PLC
10.Tomtom International Bv
11.Ericsson AB
12.Airbiquity Inc.
Frequently Asked Questions:
1] What segments are covered in the Automotive Cloud Based Solutions Market report?
Ans. The segments covered in the market report are based on Vehicle type, Propulsion type, Deployment type and Application.

2] Which region is expected to hold the highest share in the Automotive Cloud Based Solutions Market?
Ans. APAC region is expected to hold the highest share in the market.

3] What is the market size of the Automotive Cloud Based Solutions Market by 2029?
Ans. The market size of the market by 2029 is US$ 8.30 Bn.

4] What is the forecast period for the Automotive Cloud Based Solutions Market?
Ans. The forecast period for the market is 2023-2029.

5] What was the market size of the Automotive Cloud Based Solutions Market in 2022?
Ans. The market size of the market in 2022 was US$ 3.85 Bn.