The cloud based solutions market for automotive is estimated to be USD 22.55 Billion in 2016 and is projected to grow at a CAGR of 19.88% during the forecast period.
Seattle, WA -- (SBWIRE) -- 10/12/2017 -- The report "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", The cloud based solutions market for automotive is estimated to be USD 27.03 Billion in 2017 and is projected to grow to USD 66.95 Billion by 2022, at a CAGR of 19.88% during the forecast period.
Browse 47 Market Data Tables and 45 Figures spread through 143 Pages and in-depth TOC on "Cloud Based Solutions Market for Automotive - Global Forecast to 2022"
Download PDF Brochure
Early buyers will receive 10% customization on reports.
The major factors driving the growth of the cloud based solutions market for automotive are the increasing installation of advanced driver assistance systems, upgraded infotainment systems, stringent automotive safety and security norms introduced by the government, and rising preference for in-vehicle connectivity among OEMs and Tier I suppliers.
Make an Inquiry
Fleet Management application holds the largest market share in 2017
With the modernization of fleet business and increase in businesses such as car-rental services and logistics & supply chain, the use of fleet management application has increased exponentially. The cloud based solutions for automotive market will be driven by applications include fleet management, infotainment, OTA updates, telematics, ADAS, and other services.
The cloud based solutions market for automotive fleet management is expected to grow at a moderate CAGR during the forecast period. This can be attributed to the deployment of fleet management services and solutions in various business establishments across several countries.
Passenger Cars– Largest share of cloud based solutions for automotive market in 2017
Growing demand for upgraded infotainment systems, facilities of ecalling, live monitoring, and in-car internet, and stringent safety & security norms have contributed to the growth of the global cloud based solutions for automotive market for passenger cars. The passenger car segment is estimated to hold the largest share of the automotive cloud based services market due to the increasing deployment of various systems that will function over the cloud. Also, safety mandates and emission regulations across developed nations have incentivized the OEMs to design passenger cars that feature advanced technologies, which serve the purpose of connected car. These factors have boosted the cloud based solutions market for passenger cars across the globe.
Asia-Pacific: Rapid vehicle electrification and demand of connected car in Japan, China market is propelling the growth of Asia-Pacific market
Witnessing the benefits of integrating IT services with automotive and transportation sectors, the Asia Pacific region has witnessed a growing demand for vehicles that are technologically advanced and efficient. This has resulted into the manifestation of an advanced vehicle ecosystem. Further, the implementation of safety regulations and construction of smart cities and infrastructure would trigger a change in the technology of passenger cars to keep them connected with the entire grid. The emergence of driving assistance technologies has incentivized the OEMs to opt for cloud based services to meet the ongoing market dynamics. Thus, expanding IT & communication infrastructure is expected to push the demand for cloud based services in vehicles in the Asia Pacific market.
The report also profiles the most promising players in the cloud based solutions market for automotive. The market presents an interesting picture of a large number of big and small players that have become a force to reckon. The key players in this market include Apple (US), BlackBerry (Canada), Verizon Wireless (US), Continental AG (Germany), Ericsson (Sweden), Bosch (Germany), Pioneer (Japan), Denso Corporation (Japan), Airbiquity (US), Delphi Automotive (UK), and Visteon (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
701 Pike Street,
Suite 2175, Seattle,
WA 98101, United States