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
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- Supply chain trends mapping the latest technological advancements
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