Cloud Based Solutions - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Cloud Based Solutions market is accounted for $31.33 billion in 2018 and is expected to reach $137.72 billion by 2027 growing at a CAGR of 17.9% during the forecast period. Some of the key factors propelling the market growth are innovations in smart technologies, increasing demand for incorporation of vehicle features with smart phone and mobility services and infotainment. However, limitations in network coverage and cyber security are the restraining factor for the growth of the market.
Cloud Computing is an advanced technology in which a network of servers are used via internet to store and manage and data, instead of using the hard disks. The main objective of cloud based solution for automotive is improving the vehicle safety. Cloud computing technologies have potential due to which the automotive manufacturers can develop intelligent vehicles that are capable of engaging with their environment. The applications of cloud based solutions for automotive industry includes advanced vehicle connectivity, mobile computing, machine learning,, voice and video data communication. These applications are offering positive growth of cloud based solutions market for automotive market. In recent years, Cloud-based computing is used along with car telematics enabling new mobility models. To control and navigate these autonomous vehicles safely, intelligent transportation systems will coordinate the traffic, and digital maps in the car are constantly updated over the cloud.
By service model, managed services segment is expected to grow at the significant market share during the forecast period. With the organization of better cloud infrastructure and its integration in cars and vehicles, the demand for managed services is expected to grow extensively and is therefore a suitable option for various service providers.
On the basis of geography, North America is anticipated to hold considerable market share during the forecast period due to increasing popularity of automotive cloud based services. The existing vehicles in region are already equipped with advanced safety features and infotainment system, which drive the growth of the market.
Some of the key players in Cloud Based Solutions Market include Airbiquity Inc, Blackberry Limited, Continental AG, Delphi Automotive PLC, Denso Corporation, Ericsson AB, Harman International, Robert Bosch GmbH, Sierra Wireless, Tomtom International Bv, Trimble Inc and Verizon Wireless.
Vehicle Types Covered:
• Commercial Vehicle
• Passenger Car
Service Models Covered:
• Managed Services
• Professional Services
Electric Vehicle Types Covered:
• Plug-In Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)
• Battery Electric Vehicle (BEV)
Deployment Types Covered:
• Public Cloud
• Private Cloud
• Advanced Driver Assistance Systems (ADAS)
• Fleet Management Application
• Infotainment System
• Over the Air (OTA) Updates
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.