Market Overview
Automotive Cloud provides the infrastructure to the vehicle for monitoring, transferring data, connecting, and service networks.
According to the MarkNtel Advisors' research report, "Global Automotive Cloud Market Analysis, 2021," the market likely to grow at a CAGR of around 18% during 2021-26 due to fast-evolving consumer behavior and snowballing advances in connected, autonomous, shared, and electric (CASE) technology. The mushrooming need for 5G and IoT for vehicle connectivity, burgeoning cloud-based infotainment systems deployment in premium vehicles, and increasing integration of blockchain in the cloud are driving the automotive cloud market growth in the forecast period.
Besides, growing awareness of cloud benefits in the auto industry, including cost-efficiency, high scalability & reliability, and surging inclination of customers toward connected cars, are increasing the demand for automotive cloud. Moreover, augmenting e-mobility and emerging digitalization in the connected vehicle is imposing a significant influence on the market growth.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 18% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy, Others | |
| Asia-Pacific: China, India, Japan, South Korea, Others | |
| South America: Brazil, Others | |
| Europe: GCC, South Africa, Others | |
| Key Companies Profiled | 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. |
| Unit Denominations | USD Million/Billion |
Market Segmentation
Infotainment Witnessing Robust Growth
Based on the Application, the Infotainment segment is likely to witness robust growth in the Global Automotive Cloud market in the forecast period. Infotainment means information and entertainment. The system enhances passenger experience by providing applications for navigation & music, informational purpose, and weather & road conditions for a safe & pleasant driving experience. The rising deployment of technologies like Bluetooth connectivity, USB, and growing advancement in multimedia-enabled infotainment systems, such as touchscreen, Heads-up display, smartphone pairing, etc., is fueling the segment growth.
Besides, the launch of innovative infotainment systems, which connect with automotive technologies, such as smartphones, sensors, and telematics devices, enhance safety and ensure a productive driving experience. Moreover, the rising demand for luxury vehicles and the increasing focus of automakers on energy vehicles are likely to boost the Global Automotive Cloud market in the forecast period, reveals MarkNtel Advisors in their research report, "Global Automotive Cloud Market Analysis, 2021."
Passenger Vehicles Accounted for the Largest Market Share
Based on Vehicle Type, Passenger Vehicle accounted for the largest market share in the Global Automotive Cloud market in 2019 owing to robust growing passenger vehicle sales. The burgeoning deployment of advanced technologies to improve customer experience and reduce road accidents and the surging collaboration between companies and automotive OEMs for developing automated driving functions for passenger cars are factors driving the demand for the automotive cloud in the passenger segment.
Moreover, mounting demand for connected vehicles & autonomous driving and increased shared mobility due to the burgeoning emergence of ride-sharing companies in countries like China, India, Australia, and South Korea are factors strongly contributing to the market growth in coming years.
Regional Landscape
North America Dominated the Market
North America dominated the Global Automotive Cloud market in 2019 owing to mushrooming demand for advanced telematics, in-car connectivity, and infotainment systems. The surging penetration of hybrid electric vehicles has propelled the adoption of automotive cloud-based services. Moreover, mounting demand for premium & luxury vehicles, mounting sales of commercial vehicles due to robust growth in the logistics & transportation sector, and increasing development of 5G technologies are the factors likely to drive the demand for the automotive cloud in the coming years.
The US acquired the majority market share in the region due to the sturdy foothold of giant market leaders and automotive OEMs and the increasing integration of ADAS and automated driving in vehicles to enhance passenger safety, reduce congestion and make mobility comfortable. Besides, burgeoning electrification of the transportation industry, the launch of new electric car models by OEMs, and augmenting partnership among market players to develop telematics solutions for autonomous vehicles are the factors promising lucrative Automotive Cloud market growth.
Market Driver
Emerging Digitalization in Connected Vehicle
The growing smartphone user, increasing advancement in in-car connectivity, ADAS services like human-machine-interfaces (HMI), and escalating demand for IoT & 5G for vehicle connectivity are factors driving the growth of the automotive cloud market.
Mushrooming deployment of cloud services for cost control, communication, and networking technologies in the automobile industry drives the market growth. The burgeoning government investment in smart roads to communicate via V2X platform (vehicles to everything) and increasing adoption of AR/VR in connected cars are likely to fuel the market growth.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Automotive Cloud market are Tomtom International, Ericsson AB, Airbiquity, Harman International, Microsoft, Amazon Web Services, Inc., LG Electronics, Robert Bosch GmbH, Verizon Communications, Inc., Continental AG, Denso Corporation, Sierra Wireless, Blackberry Limited, Visteon Corporation, Telenav, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. Passenger Vehicle can certainly attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at a highest CAGR, thereby provides immense opportunities for market leaders of Global Automotive Cloud Market.
A. Tomtom International, Ericsson AB, Airbiquity, Harman International, Microsoft, Amazon Web Services, Inc., LG Electronics, Robert Bosch GmbH, Verizon Communications, Inc., Continental AG, Denso Corporation, Sierra Wireless, Blackberry Limited, Visteon Corporation, Telenav are few of the leading players in the Global Automotive Cloud Market.
A. The Global Automotive Cloud Market is forecast to grow at a CAGR of 18% during 2021-26.
A. The market size/industry size or the market value is in terms of USD Million.
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast up-to 2026.
