Automotive Cloud Based Solutions market size, share, revenue, trends, and drivers for 2024-2033

LONDON, GREATER LONDON, UK, July 4, 2024 /EINPresswire.com/ -- The automotive cloud based solutions market has experienced robust growth in recent years, expanding from $54.38 billion in 2023 to $63.94 billion in 2024 at a compound annual growth rate (CAGR) of 17.5%. The growth in the historic period can be attributed to the evolution of technology for automotive systems, such as ADAS, growing demand for telematics in connected vehicles, increasing emphasis on in-car data services, rise in vehicle-to-everything (v2x) communication, and the revolutionary potential of IoT and the introduction of the 5G network.

Strong Future Growth Anticipated
The automotive cloud based solutions market is projected to continue its strong growth, reaching $113.65 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to increasing demand for connected car services, rising emphasis on driver experience and vehicle performance, government initiatives and regulations, data analytics and predictive maintenance services, and partnerships and alliances.

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Growth driver of the automotive cloud based solutions market
The increasing demand for connected and autonomous vehicles is expected to propel the growth of the automotive cloud-based solutions market going forward. A connected and autonomous vehicle (CAV) is an advanced type of vehicle that incorporates both connectivity and autonomous driving capabilities. Cloud-based solutions offer the computational power and storage capacity required to process and analyze the extensive data generated by autonomous vehicles, which is crucial for informed decision-making regarding navigation, obstacle avoidance, and route planning in real-time.

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Major Players and Market Trends
Key players in the automotive cloud based solutions market include Google LLC, Microsoft Corporation, Verizon, Robert Bosch GmbH, Amazon Web Services Inc., Siemens AG, Intel Corporation, IBM Corporation, Cisco Systems Inc., Denso Corporation, Oracle Corporation, Continental AG, SAP SE, Salesforce Inc., Ericsson AB, ServiceNow Inc., Harman International, Delphi Automotive PLC, Trimble Inc., Infor, Blackberry Limited, Sierra Wireless, Tomtom International Bv, Sierra Wireless, Airbiquity Inc..
Major companies operating in the automotive cloud-based solutions market are developing advanced technologies, such as cloud-based vehicle data services, to better serve customers with advanced features. Cloud-based vehicle data service refers to the storage, processing, and management of vehicle-related information in the cloud, enabling real-time access, analytics, and remote functionalities for improved automotive operations and user experience.

Segments:
1) By Service Model: Professional Services, Managed Services
2) By Deployment Type: Private Cloud, Public Cloud
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
4) By Application: Infotainment Systems, Telematics, Fleet Management, Over The Air (OTA) Systems, Advanced Driver-Assistance Systems (ADAS), Other Applications

Geographical Insights: North America Leading the Market
North America was the largest region in the automotive cloud based solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of automotive cloud based solutions.

Automotive Cloud Based Solutions Market Definition
Automotive cloud-based solutions refer to a set of technological services and applications in the automotive industry that leverage cloud computing infrastructure to provide various functionalities, enhance connectivity, and improve overall vehicle performance. These solutions utilize remote servers, data storage, and processing capabilities to offer a range of services for both vehicles and users.

Automotive Cloud Based Solutions Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive Cloud Based Solutions Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive cloud based solutions market size, automotive cloud based solutions market drivers and trends, automotive cloud based solutions market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive cloud based solutions market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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