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Cloud Based Solutions Market for Automotive by Application, Deployment, Service Model, Vehicle, EV, and Region - Global Forecast to 2022
Cloud Based Solutions Market for Automotive by Application (Fleet Management, Infotainment, OTA Updates, Telematics, ADAS), Deployment (Private, Public), Service Model (Professional, Managed) Vehicle, EV, and Region - Global Forecast to 2022
“Demand for integration of smartphones with vehicles is driving the market for cloud based solutions market for automotive”
The global cloud based solutions market for automotive is estimated to be USD 27.03 billion in 2017 and is projected to reach USD 66.95 billion by 2022, at a CAGR of 19.88%. The growing demand for upgraded infotainment systems, in-car connectivity etc. is expected to increase the use of cloud based services in automobiles to a considerable extent in the near future. The cloud based solutions market for automotive has shown steady growth in developing countries such as India, China, and the Middle East. However, the limited network connectivity and weak cloud infrastructure can restrain the growth of the market in developing countries such as India, Russia, and Brazil.
“Shared mobility and in-car data services are estimated to experience the highest growth rate during the forecast period”
Other services such as shared mobility and in-car data services are estimated to experience the highest growth rate in the cloud based services for automotive market. With the increasing penetration of smartphone, several mobile phone apps have been launched. These apps enable the sharing of a vehicle with other travelers. Shared mobility has multiple benefits in the current traffic scenario. It helps to reduce traffic congestion and pollution and makes a ride economical by dividing fuel charges among the riders. Further, people now prefer to stay connected through the internet even while traveling to get news updates, official emails, etc. The demand for in-car data services has thus increased.
“Professional service’ market is estimated to have the largest market share during the forecast period”
By service model segmentation, the professional services segment is estimated to have the largest share of the cloud based services for automotive market during the forecast period. With the establishment of a better cloud infrastructure and rapid integration of cloud based services in cars and vehicles, the demand for professional services will grow significantly. There would be increased need for data security and managing data with necessary back-end support.
“Asia Pacific is estimated to be the fastest growing automotive cloud based services market”
Asia Pacific is estimated to be the fastest growing market for automotive cloud based services during the forecast period, followed by North America and Europe. The market growth in Asia Pacific can be attributed to the high adoption of automotive cloud based services in countries such as China, which produces the maximum number of vehicles in the region.
India is also expected to contribute to the growth of the Asia Pacific cloud based services market. The development of cloud infrastructure and subsequent adoption of cloud based services by automotive OEMs have fuelled the Indian cloud based services market.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type - Tier 1 - 55%, Tier 2 - 20%, Others - 25%
• By Designation - C level - 35%, D level - 25%, Others - 40%
• By Region - North America - 45%, Europe - 30%, Asia Pacific - 20%, Rest of the World - 5%
Major players profiled in the report are:
• Airbiquity (US)
• BlackBerry (Canada)
• Verizon Wireless (US)
• Continental AG (Germany)
• Ericsson (Sweden)
• Bosch (Germany)
• Delphi Automotive (UK)
• Harman international (US)
• Denso Corporation (Japan)
• Trimble (US)
• Sierra Wireless (Canada)
• TomTom (Netherlands)
The report segments the cloud based solutions market for automotive and forecasts its size, by value, on the basis of region (Asia Pacific, Europe, North America, and RoW), application (Fleet Management, Infotainment, Over the Air (OTA) Updates, Telematics, ADAS, and other services (Shared Mobility, In-Car Data Services etc.)), electric vehicle type (BEV, HEV, and PHEV), vehicle type (passenger cars and commercial vehicles), service model (Professional and Managed), and deployment type (Private and Public).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the global cloud based services for automotive market. Apart from analyzing the quantitative aspects, the report also covers qualitative aspects such as macro-economic factors for the global cloud based services for automotive market.
Reasons to Buy the Report:
The report provides insights into the following points:
• Market Penetration: The report provides comprehensive information about the cloud based services for automotive market and the top 12 players in the market.
• Product Development/Innovation: The report gives detailed insights into upcoming technologies, R&D activities, and new product launches in the cloud based services for automotive market.
• Market Development: The report provides comprehensive information about cloud based services. The report analyzes the cloud based services for automotive market across regions.
• Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the cloud based services for automotive market.