Global Automotive Cloud Based Solutions Market Analysis 2024: Size Forecast and Growth Prospects

 

The automotive cloud based solutions global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Automotive Cloud Based Solutions Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
The automotive cloud based solutions market size has grown rapidly in recent years. It will grow from $54.38 billion in 2023 to $63.94 billion in 2024 at a compound annual growth rate (CAGR) of 17.5%.  The growth in the historic period can be attributed to evolution of technology for automotive systems, such as adas, growing demand for telematics in connected vehicles, increasing emphasis on in-car data services, rise in vehicle-to-everything (v2x) communication, and the revolutionary potential of iot and the introduction of the 5G network.

The automotive cloud based solutions market size is expected to see rapid growth in the next few years. It will grow to $113.65 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%.  The growth in the forecast period can be attributed to increasing demand for connected car services, rising emphasis on driver experience and vehicle performance, government initiatives and regulations, data analytics and predictive maintenance services, and partnerships and alliances. Major trends in the forecast period include AI and machine learning, sustainability and green solution, edge computing in automotive cloud, connected and autonomous vehicle, subscription-based models.

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Scope Of Automotive Cloud Based Solutions Market
The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Automotive Cloud Based Solutions Market Overview

Market Drivers -
The increasing demand for connected and autonomous vehicles is expected to propel the growth of the automotive cloud-based solutions market going forward. A connected and autonomous vehicle (CAV) is an advanced type of vehicle that incorporates both connectivity and autonomous driving capabilities. Cloud-based solutions offer the computational power and storage capacity required to process and analyze the extensive data generated by autonomous vehicles, which is crucial for informed decision-making regarding navigation, obstacle avoidance, and route planning in real-time. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, it is projected that there are expected to be 3.5 million autonomous vehicles on American roads by 2025. Furthermore, an estimated 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, the increasing demand for connected and autonomous vehicles is driving the growth of the automotive cloud-based solutions market.

Market Trends -
Major companies operating in the automotive cloud-based solutions market are developing advanced technologies, such as cloud-based vehicle data services, to better serve customers with advanced features. Cloud-based vehicle data service refers to the storage, processing, and management of vehicle-related information in the cloud, enabling real-time access, analytics, and remote functionalities for improved automotive operations and user experience. For instance, in September 2022, Amazon Web Services Inc., a US-based provider of cloud computing platforms, launched the AWS IoT FleetWise vehicle data service. The unique feature of the AWS IoT FleetWise vehicle data service is its tailored support for organizations, including automakers, car part suppliers, and delivery companies, in efficiently gathering data from their vehicles' built-in sensors. With the newly launched IoT FleetWise service, AWS streamlines the process of sending vehicle data to the cloud, eliminating the need for custom software development for data collection and upload. This advancement allows automakers to expedite the processing of vehicle data while simultaneously reducing software development costs. At the core of IoT FleetWise is the AWS IoT FleetWise Edge Agent application, which can be seamlessly integrated into vehicle subsystems like telematic control units. Once deployed, the Edge Agent effectively manages the transmission of vehicle data to an organization's AWS environment.

The automotive cloud based solutions market covered in this report is segmented –

1) By Service Model: Professional Services, Managed Services
2) By Deployment Type: Private Cloud, Public Cloud
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
4) By Application: Infotainment Systems, Telematics, Fleet Management, Over The Air (OTA) Systems, Advanced Driver-Assistance Systems (ADAS), Other Applications

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Regional Insights -
North America was the largest region in the automotive cloud based solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive cloud based solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -
Google LLC, Microsoft Corporation, Verizon, Robert Bosch GmbH, Amazon Web Services Inc., Siemens AG, Intel Corporation, IBM Corporation, Cisco Systems Inc., Denso Corporation, Oracle Corporation, Continental AG, SAP SE , Salesforce Inc., Ericsson AB, ServiceNow Inc., Harman International, Delphi Automotive PLC, Trimble Inc., Infor, Blackberry Limited, Sierra Wireless, Tomtom International Bv, Sierra Wireless, Airbiquity Inc.

Table of Contents
1. Executive Summary
2. Automotive Cloud Based Solutions Market Report Structure
3. Automotive Cloud Based Solutions Market Trends And Strategies
4. Automotive Cloud Based Solutions Market – Macro Economic Scenario
5. Automotive Cloud Based Solutions Market Size And Growth
…..
27. Automotive Cloud Based Solutions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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