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.
1 Demand for Integration of Vehicle Features With Smartphone
2 Introduction of Fast Communication Services Such as 5G & 4G in Automobiles
3 Leveraging on Big Data for Real-Time Insights
4 Advancements in Smart Technologies
North America: Dominating the Cloud-Based Solutions Market for Automotive From 2017 to 2022
North America is estimated to account for the largest share of the automotive cloud-based services market in 2017. The market growth in North America can be attributed to the production and sales of connected vehicles in the domestic market as well as exports. In recent years, the North American market has become the largest producer of vehicles equipped with advanced safety systems, infotainment systems, in-vehicle wireless internet connectivity, etc. It is thus the largest consumer of cloud-based services for automotive across the globe. The continuous growth of domestic players along with with Tier I companies, newer innovations and developments, and increasing mandates for implementation of various cloud-based services and systems are fostering the growth of automotive cloud-based services market in the North American region.
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Asia Pacific: Highest Growth in Cloud-Based Solutions Market for Automotive
The Asia Pacific is a key market for cloud-based solutions for automotive due to the large production volume of vehicles and favorable infrastructure growth. A few of the key Tier I suppliers of cloud-based services for automotive in the region are Pioneer (Japan), Denso Corporation (Japan), and Airbiquity (Japan). These companies have already planned to expand their offerings in the cloud-based solutions market for automotive. The Asia Pacific cloud-based services market is in a nascent stage and is expected to grow at a steady pace in the near future.
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)
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Increasing Emphasis on Developing Connected Vehicle to Boost the Cloud-Based Solutions Market for Automotive
The rising demand for modernization with connected features and developing vehicles with new safety and entertainment systems are driving the growth of the cloud-based solutions market for automotive. The most important thing for engineers and developers is to develop a cloud infrastructure that will provide seamless connectivity to vehicles to keep them connected to the grid and thus help in the proper functioning of cloud-based applications and systems. Moreover, the increased focus on developing semi-autonomous and autonomous cars will also boost the cloud-based solutions market for automotive as the cloud/internet has a much larger role to play in driverless cars and vehicles.
Consumer Preference for Wireless Connectivity Features to Drive Deployment of Cloud Integrated System in Cars
The other solutions (shared mobility, in-car data) are estimated to be the fastest-growing segment of the automotive cloud-based services market. With the penetration of smartphone and internet in vehicles, these solutions have gained a strong affinity among consumers. These solutions have several distinguishable features, which can help a consumer in multi-dimensional ways.
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• Automotive OEMs
• Cloud Infrastructure Developers
• Cloud Service Providers
• Cybersecurity Service Providers for Automotive
• Infotainment OEMs
• ADAS & Telematics Suppliers