What is the present valuation and projected CAGR of the automotive cloud based solutions market?
The automotive cloud based solutions market size has grown rapidly in recent years. It will grow from $63.94 billion in 2024 to $74.97 billion in 2025 at a compound annual growth rate (CAGR) of 17.2%. The growth in the historic period can be attributed to 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.
The automotive cloud based solutions market size is expected to see rapid growth in the next few years. It will grow to $129.89 billion in 2029 at a compound annual growth rate (CAGR) of 14.7%. 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. Major trends in the forecast period include AI and machine learning, sustainability and green solution, edge computing in automotive cloud, connected and autonomous vehicle, subscription-based models.
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What key drivers have fueled the automotive cloud based solutions market’s development over the years?
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. For instance, in January 2024, according to the Salesforce, a US-based cloud computing company, by 2030, it is projected that connected cars will account for 95% of all vehicles on the road. Additionally, in December 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, there will be 3.5 million self-driving vehicles on U.S. roads by 2025 and 4.5 million by 2030. Therefore, the increasing demand for connected and autonomous vehicles is driving the growth of the automotive cloud-based solutions market.
What is the segmentation for the automotive cloud based solutions market?
The automotive cloud based solutions market covered in this report is segmented –
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
Subsegments:
1) By Professional Services: Consulting Services, Integration Services, Implementation Services, Support And Maintenance Services
2) By Managed Services: Infrastructure Management, Application Management, Security Management, Network Management
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Who are the most influential companies in the automotive cloud based solutions market?
Major companies operating in the automotive cloud based solutions market report are 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.
What are the top industry trends projected to impact the automotive cloud based solutions market?
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. For instance, in September 2022, Amazon Web Services Inc., a US-based provider of cloud computing platforms, launched the AWS IoT FleetWise vehicle data service. The unique feature of the AWS IoT FleetWise vehicle data service is its tailored support for organizations, including automakers, car part suppliers, and delivery companies, in efficiently gathering data from their vehicles’ built-in sensors. With the newly launched IoT FleetWise service, AWS streamlines the process of sending vehicle data to the cloud, eliminating the need for custom software development for data collection and upload. This advancement allows automakers to expedite the processing of vehicle data while simultaneously reducing software development costs. At the core of IoT FleetWise is the AWS IoT FleetWise Edge Agent application, which can be seamlessly integrated into vehicle subsystems like telematic control units. Once deployed, the Edge Agent effectively manages the transmission of vehicle data to an organization’s AWS environment.
What are the major regional insights for the automotive cloud based solutions market, and which region holds the top position?
North America was the largest region in the automotive cloud based solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive cloud based solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Automotive Cloud Based Solutions Market Report 2025 Offer?
The automotive cloud based solutions market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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