Global cloud computing in automotive market was estimated to be US$ 5.05 billion in 2020 and is anticipated to reach US$ 19.28 billion by 2030, growing at an estimated CAGR of 16.2% over the forecast period. Absolute Markets Insights has added the report titled global Cloud Computing in Automotive Market to its ever-growing repository to enable an effective business outlook. The report comprises an in-depth study of varying features characteristic of industries, such as trends, policies, and clients operating in several regions. Qualitative and quantitative data analysis methods have been used by analysts to provide accurate and applicable data to readers, business owners and industry experts. The research report intrinsically incorporates client’s demands as well as charts the future progress of this market across the global regions.
Key Companies Profiled:
- Amazon Web Services
- Intellias Ltd. Microsoft Azure
- Google Cloud Platform
Get a link for more details of market report at @https://www.absolutemarketsinsights.com/reports/Global-Cloud-Computing-in-Automotive-Market-2022—2029-906
The offerings segments can be segregated into solution and services. The solution segment captured more than 80% of the overall market and has the highest penetration in 2020. On the other hand, the services segment is expected to witness the highest growth over the forecast period. Rising number of car accidents is one of the reasons that are driving the growth of cloud computing in automotive market. Companies are providing cloud solutions and DevOps that can offer businesses secure and sustainable growth.
AI/ML segment is expected to witness substantial growth over the next eight years. For personalized and predictable autonomous driving experiences, OEMs and Tier 1 suppliers have been investing in automotive grade AI solutions and machine learning. AI automotive algorithms, artificial neural networks, and machine learning for automotive help smart vehicles see and interpret road environments up to 99.8% better than human drivers. Real time tracking, data interpretation, time travel prediction and traffic congestion, and even vehicle breakdowns have led to the adoption of machine learning technology in automotive application.
Europe accounted for the largest share in market; this growth can be attributed to companies that are mainly situated in Ireland, France, UK and the Netherlands and Germany. Germany region captured more than 30% in 2020 and is expected to continue the same trend over the forecast period. The United Kingdom region is expected witness the highest growth under Europe region. Auto Europe turned to digital technologies to match travellers with the nominal rental car rates in countries across the globe, and recently their forward-looking investments in private cloud are propelling them through the economic challenges caused by the COVID-19 pandemic. The company has been around for over 65 years, starting as a broker and wholesaler helping travel agents secure rental cars for their clients. Rising internet penetration helped the company widen its reach to individual travellers specifically.
Cloud Computing in Automotive Market:
By Offerings
- Solutions
- Services
By Technology
- AI/ML
- IoT
- HPC
- Data analytics
- Others
By Application
- Connected Mobility
- Autonomous Development
- Manufacturing/Supply Chain
- Navigation and Mapping
- Navigation Data Standard and Electric Vehicle Navigation
- Big Data
- Digital Customer & Engagement and Electronic Control Unit
- Others
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