According to the MarkNtel Advisors’ research report, "Global Automotive Cloud Market Analysis, 2021," the market may grow at a CAGR of 18% during 2021-26 on account of mushrooming cooperation and partnership among auto industry and software developers to launch the latest infotainment and telematics cloud platform. The increasing adoption of the Internet of Things (IoT) and vehicle-to-everything (V2X) communication, rise in ride-hailing companies, surging up-gradation of an existing digital platform of the vehicle industry is promulgating the demand for the automotive cloud.
Moreover, the rising initiatives of the government to boost sales of electric cars, snowballing integration of smartphone features in the vehicle, and the burgeoning deployment of various technologies such as 5G and AI in vehicles are factors propelling the adoption of the automotive cloud. Additionally, the snowballing customer inclination toward fully autonomous vehicles is fueling the global market growth.
Key questions answered in the study
Telematics Acquired Significant Market Share
Within Application, Telematics acquired a significant market share in the Global Automotive Cloud market in 2019. A wide range of automotive connectivity uses telematics systems because they enable remote control of vehicle functions, such as door lock/unlock, vehicle preconditioning, and helps in finding parking positions.
The mandatory EU regulation for the deployment of the emergency call system in vehicles due to surge in road fatalities, burgeoning adoption of the Next-Generation Telematics Protocol (NGTP) along with mushrooming integration of real-time fleet monitoring systems in passenger and commercial vehicle is likely to amplify the demand for telematics in the forecast timeline.
“Global Automotive Cloud Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and available opportunities for Automotive Cloud providers across the globe. Moreover, the report also comprises the key strategic imperatives for the competitors' success and strategic factorial indexing measuring competitors’ capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
Asia-pacific registers the fastest growth in the Global Automotive Cloud market over the forecast period during 2021-26 due to the robust presence of technology-based start-ups. The increasing advancement in driving assistance systems, mobility services, and infotainment, burgeoning demand for connectivity solutions, and snowballing development of 5G to upsurge the safety and efficiency of connected cars are the reason responsible for the market growth.
Soaring support of the government to promote sales of electric vehicles in countries like India & China, rapid demand for ride-hailing services, and mounting awareness among consumers toward integrating such solutions are factors likely to boost the global Automotive Cloud market in the forecast period. , says MarkNtel Advisors in their research report, “Global Automotive Cloud Analysis, 2021.”
According to MarkNtel Advisors, the key industry leaders in the Global Automotive Cloud market are Harman International, Robert Bosch GmbH, Verizon Communications, Inc., Continental AG, Denso Corporation, Sierra Wireless, Tomtom International, Ericsson AB, Airbiquity, Blackberry Limited, Visteon Corporation, Telenav, Microsoft, Amazon Web Services, Inc., LG Electronics, etc.