Cloud Computing Is The Largest Segment Driving The Growth Of Automotive Cloud Market



https://www.coherentmarketinsights.com/market-insight/automotive-cloud-market-4746 Automotive Cloud Market
Automotive Cloud Market


Market Overview:
The automotive cloud market involves information technologies and cloud services utilized to enable onboard and offboard connectivity in vehicles. Cloud computing allows seamless transfer of vehicle data including navigation, diagnostics, and infotainment services.

Market key trends:
Connected vehicles generate huge amounts of data that need to be securely stored, processed and analyzed in real-time. Cloud computing offers scalable data storage and analytics capabilities to extract valuable insights from vehicle data. Automakers are partnering with cloud service providers to develop cloud-connected vehicle platforms and build advanced mobility services. For example, major automakers like BMW, Ford and GM have partnered with Microsoft Azure to deploy connected vehicle solutions leveraging cloud infrastructure. Growing adoption of advanced driver assistance systems and autonomous vehicles will also drive the need for high-performance cloud computing networks to power safety-critical functions.

The global Automotive Cloud Market Demand is estimated to be valued at US$ 24.16 Bn in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights

SWOT Analysis
Strength: The automotive cloud market is witnessing high adoption of cloud computing solutions by automakers to enhance vehicle performance, connectivity, and services. It allows for remote diagnosis, firmware updates, and personalization.
Weakness: Data privacy and security concerns persist regarding critical vehicle systems and customer data stored in the cloud. Regular updates are required to improve cybersecurity safeguards.
Opportunity: Rising demand for connected mobility solutions for infotainment, predictive maintenance, and autonomous driving presents growth prospects. Developing technologies like 5G will boost scope for advanced applications.
Threats: Fragmented standards for connectivity protocols pose interoperability challenges. Stiff competition from new entrants can squeeze margins for established automotive cloud platform providers.

Key Takeaways
The global automotive cloud market is expected to witness high growth, exhibiting CAGR of 18% over the forecast period, due to increasing connectivity in vehicles. Rising demand for advanced mobility solutions is prompting automakers to adopt cloud platforms.

Regional analysis
North America dominates the global automotive cloud market currently, owing to the rapid adoption of connected vehicles. Asia Pacific is forecast to be the fastest growing region, led by China. Countries like Japan, South Korea and India are also contributing substantially to the regional market growth.

Key players operating in the automotive cloud market are Airbiquity, Amazon, Bosch, CloudMade, Connexion, Continental, Denso, Ericsson AB, Harman, Intellias, LG Electronics, Microsoft, Sierra Wireless, Telenav, and Verizon. Some leading players are focusing on strategic partnerships and collaborations to develop innovative cloud-based automotive solutions. For instance, in 2023, Verizon collaborated with Amazon Web Services to launch new automotive cloud solutions.

Comments

Post a Comment

Popular posts from this blog

Agricultural Micronutrients Market Growth Accelerated By Increasing Need For Improved Soil Fertility

Image
Agricultural Micronutrients Market Agricultural micronutrients are essential plant nutrients required in small quantities for healthy plant growth and development. Micronutrients such as iron, zinc, manganese, molybdenum, and boron play vital roles in various metabolic functions of crops such as photosynthesis, nitrogen fixation, and enzyme activity. The increasing need to boost crop yields and improve soil fertility has raised the demand for micronutrient fertilizers globally. The growing population and reducing arable land have fueled the need for sustainable agricultural practices, propelling the micronutrients market. The global Agricultural Micronutrients Market is estimated to be valued at US$ 5.19 Bn in 2024 and is expected to exhibit a CAGR of 27.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing adoption of precision farming and digital technologies in the agriculture sector is...
Read more

Dairy Alternative Market Expected To Reach USD 26.01 Billion By 2023

Image
Dairy Alternative Market Market Overview: Dairy alternative products are gaining significant popularity due to their numerous advantages. These products are plant-based, making them suitable for individuals with lactose intolerance or those following a vegan diet. They offer similar nutritional benefits as traditional dairy products such as milk, cheese, and yogurt, while also addressing concerns related to animal welfare and environmental sustainability. The growing demand for dairy alternative products among health-conscious consumers is driving market growth. Market Key Trends: One key trend observed in the dairy alternative market is the increasing preference for plant-based milk substitutes. Plant-based milk alternatives such as almond milk, soy milk, and oat milk, among others, are gaining traction among consumers as a healthier and more sustainable option compared to traditional dairy milk. These plant-based milk alternatives offer various benefits such as being lactose-free, c...
Read more

Antimicrobial Additives Market Growth Accelerated By Rising Demand From End-Use Industries

Image
Antimicrobial Additives Market Antimicrobial additives are extensively used in a wide range of end-use industries such as healthcare, packaging, food and beverage, construction, and automotive. These additives help protect various materials from microorganisms such as bacteria, viruses, etc. Some key applications of antimicrobial additives include packaging of food, medical devices, fabrics, flooring, coatings, etc. The ongoing COVID-19 pandemic has further increased the importance of hygiene and sanitation, driving demand for antimicrobial materials from various sectors. The global Antimicrobial Additives Market is estimated to be valued at US$ 3.47 Bn in 2024 and is expected to exhibit a CAGR of 25.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key drivers of the market's growth is the rising demand for antimicrobial additives from the packaging industry. Packaging manufacturers ...
Read more