Cloud Based Solutions for automotive may be a product that applies cloud storage, cloud computing, Internet of things (IoT) and mobile internet technology in vehicles. Rising demand for advanced infotainment systems and in-car connectivity is expected to extend the utilization of cloud-based services in automobiles throughout the forecast period. Technological developments are expanding to almost all industry-verticals, particularly, for the automotive industry. The cloud-based solutions are supposed to play an important role in automotive sector in the outlook period owing to multiple advantages they provide to drivers & passengers.
As per analysis, “Cloud Based Solutions Market for Automotive” the key companies operating in the global cloud based solutions market for automotive include Continental AG, Apple, Bosch, BlackBerry, Ericsson, Verizon Wireless and among others.
Based on application type, global cloud based solutions for automotive market can be bifurcated as Over the Air (OTA) Updates, ADAS, fleet management, telematics, infotainment and other services (In-car data and shared mobility). Fleet management segment holds major share in global market because of modernization of fleet business coupled with increase in businesses for instance car-rental services and logistics & supply chain. Based on electric vehicle type, market can be bifurcated as Hybrid Electric Vehicle (HEV), Battery Electric Vehicle (BEV) and Plug-In Hybrid Electric Vehicle (PHEV). HEV segment dominates the global market owing to increase in penetration of HEV and consequent increase in cloud-based services to improve the connectivity & semi-autonomous applications in these vehicles. Based on vehicle type, market can be bifurcated as commercial vehicles (CV) and passenger cars (PC). PC segment is likely to exhibit substantial growth rate due to rise in installation of various systems that will function over the cloud during the forecast period. Based on service model, market can be bifurcated as managed and professional. In addition, based on deployment, market can be bifurcated as public cloud and private cloud.
The global cloud based solutions for automotive market is driven by rise in need for advanced driver assistance systems (ADAS), followed by growth in demand for advanced infotainment systems, rise in consumer disposable income, growth in population. Apart from this, network coverage limitation is a major hindering factor for market. Moreover, unprecedented advancements toward making autonomous vehicles reality and rise in adoption of cloud are leading opportunities for market.
By regional analysis, the Asia-Pacific is the leading region in global cloud based solutions for automotive market owing to expansion of the IT & communication infrastructure, presence of a dealer management systems technology-based start-up features and increase in advantages of cloud in the automotive manufacturing sector including collaboration, promoting sustainability and improving the vehicle safety across the region. The Europe region is expected to witness higher growth rate because of growing at a sturdy pace as most of the vehicles are equipped with high-end entertainment & safety features over the forecast period. Additionally, existing vehicles in North-America region are already furnished with advanced safety features & infotainment system that drive the growth of market. It is predicted that future of the global cloud based solutions for automotive market will be optimistic as a result of growth in demand for upgraded infotainment system during the forecast period.
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Ankur Gupta, Head Marketing & Communications