The latest research study “Automotive Cloud Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global automotive cloud market size reached US$ 22.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 60.2 Billion by 2028, exhibiting a growth rate (CAGR) of 17.30% during 2023-2028.
What is Automotive Cloud Market?
Automotive cloud refers to a global cloud platform designed to serve the needs for automotive manufacturers and the mobility ecosystem. It is highly affordable as the automotive cloud saves the expense of hardware and information technology (IT) support as compared to traditional on-premises systems. It is easy to install and configure by offering access from any multimedia device and a comprehensive overview of all manufacturing operations. It also helps in securing sensitive data by using advanced data encryption protocols.
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Automotive Cloud Market Trends and Drivers:
The escalating demand for this platform to deliver numerous services, including entertainment, telematics, and navigation is primarily augmenting the automotive cloud market. Furthermore, it is also utilized to provide stable services for several connected devices, such as cars, cellphones, and other application programming interfaces (APIs), which is positively influencing the global market. Apart from this, the rising number of connected vehicles with advanced software and onboard sensors that can communicate with other vehicles and drivers while monitoring road infrastructures across countries is acting as another significant growth-inducing factor. Moreover, the expanding automotive sector is further bolstering the market growth. Besides this, the widespread adoption of the Internet of Things (IoT) technology as well as 5G networks in automobiles to improve driving experiences and make them smarter and safer is further catalyzing the global market. Additionally, the growing integration of blockchain technology with enhanced platforms by service providers for providing highly decentralized ledger capabilities to increase security is expected to fuel the automotive cloud market in the coming years.
Automotive Cloud Market Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Propulsion Type:
- IC Engine Vehicle
- Electric Vehicles
Breakup by Deployment:
- Public Cloud
- Private Cloud
Breakup by Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
Breakup by Application:
- Infotainment Systems
- Fleet Management
- OTA (Over The Air) Systems
- ADAS (Advanced Driver-Assistance Systems)
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- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Amazon Web Services Inc. (Amazon.com Inc.), BlackBerry Limited, CloudMade (Valeo), Continental Aktiengesellschaft, Harman International Industries (Samsung Electronics Co. Ltd.), Intellias, Robert Bosch GmbH (Robert Bosch Stiftung GmbH), Telefonaktiebolaget LM Ericsson, Telenav Inc., TomTom International BV. and Visteon Corporation.
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