Automotive Cloud Market to surpass US$ 6,673.0 Mn by end of 2027, Says Coherent Market Insights

Automotive Cloud Market to surpass US$ 6,673.0 Mn by end of 2027, Says Coherent Market Insights

PR Newswire

SEATTLE, Dec. 21, 2021

SEATTLE, Dec. 21, 2021 /PRNewswire/ -- According to Coherent Market Insights, The global automotive cloud market is estimated to account for 6,673.0 Mn in terms of value by the end of 2027.

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The automotive cloud is an open infrastructure for data from cars and the automotive supply chain. It provides access to information from different sources, including dealers, manufacturers, and other partners. For example, it can improve supply chain visibility and resolve issues faster. As a result, it will help the automotive industry plan its activities more efficiently and profitably.

The automotive cloud provides robust infrastructure and services for a multitude of connected devices, including vehicles, smartphones, infrastructure, and other APIs. It will require careful planning and preparation, as it will connect hundreds of thousands of devices. Besides, it will help automotive manufacturers focus on their core business. It will also give them the opportunity to achieve more by enabling them to focus on more complex tasks.

Its high availability makes it the best solution for automotive data. With cloud storage, the automotive cloud can reduce the risk of system failure and can focus on core business. It can back up important data, ensuring that critical data is never lost. It will also help it grow and scale faster. As the automotive industry has become more software-centric, it is critical to get instant connectivity. This is why the automotive cloud is a powerful solution for the automotive industry. It provides better cost-efficiency, speed-to-market, and reliability, and it helps access to new technology.

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Market Drivers:

Launch of new products is expected to propel growth of the global automotive cloud market over the forecast period. For instance, in December 2021, Amazon Web Services launched AWS FleetWise, a new cloud-based data service which allows automakers to collect and retrieve sensor and telemetry data from their vehicle fleets.

Moreover, launch of cloud-native retail operating platforms is also expected to propel growth of the global automotive cloud market over the forecast period. For instance, in July 2020, Tekion, a technology company, launched Zero-Contact Digital Sales, and Service, a consumer-facing products for dealers. The applications are part of the company's Automotive Retail Cloud, a cloud-native retail operating platform.

Market Opportunities:

Increasing adoption of vehicle infotainment is expected to offer lucrative growth opportunities for players in the global automotive cloud market. For instance, in February 2021, Ford Motors signed a six-year agreement with Google GOOG to leverage the Google Cloud Platform to power vehicle infotainment.

Moreover, launch of telematics platforms is also expected to offer lucrative growth opportunities for players in the global automotive cloud market. For instance, in April 2019, ORBCOMM Inc. launched its enhanced web platform and its latest telematics devices for heavy equipment industry.

Market Trends:

Major players operating in the global automotive cloud market are focused on adopting partnership strategies to enhance their market share. For instance, in February 2021, Car.Software Organisation, a software company of Volkswagen Group, partnered with Microsoft to build a cloud-based Automated Driving Platform on Microsoft Azure.

Major players operating in the global automotive cloud market are focused on launching new products to expand their product portfolio. For instance, in January 2019, HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co. Ltd., launched the new HARMAN Ignite 3.0, an automotive cloud platform for OEMs.

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Competitive Landscape:

Major players operating in the global automotive cloud market include, Ericsson AB, Denso, Harman, Continental, Intellias, Connexion, LG Electronics, CloudMade, Microsoft Corporation, Bosch, Sierra Wireless, Amazon, Inc., Telenav, Airbiquity, and Verizon.

Market Segmentation:

On the basis of vehicle type, the global automotive cloud market is segmented into:

On the basis of propulsion type, the global automotive cloud market is segmented into:

On the basis of deployment type, the global automotive cloud market is segmented into:

On the basis of application type, the global automotive cloud market is segmented into:

On the basis of region, the global automotive cloud market is segmented into:

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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