The Global Automotive Cloud Market Growth is Accelerated by Increased Cloud Connectivity

 

Automobiles today are increasingly autonomous, connected and powered by intelligent technologies. The automotive cloud market provides cloud-based solutions to automakers to efficiently integrate features like vehicle infotainment systems, driving assistance technologies, predictive maintenance capabilities as well as over-the-air updates. By leveraging advanced cloud platforms and services, automotive companies can streamline software development processes, enable constant vehicle innovation and improve customer experience. The global Automotive Cloud Market is estimated to be valued at US$ 24.16 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased connectivity of vehicles to external cloud networks have accelerated the demand for automotive cloud platforms. Modern vehicles are now connected via embedded telematics devices to the internet, which allows for remote monitoring and control. This has created the need for centralized cloud infrastructure that can store, analyze and share vast amounts of vehicle data securely. Cloud providers have leveraged this opportunity to offer customized automotive cloud solutions tailored for real-time data management, advanced fleet management functions and delivery of over-the-air software updates. The seamless connectivity between vehicles and cloud backends have optimized operations for automakers while enhancing driving experiences for customers.

Segment Analysis
The global automotive cloud market is segmented by service type, deployment, vehicle type, and application. The automotive infrastructure-as-a-service sub segment dominates the market. It allows automotive manufacturers to develop and integrate new technologies and features into vehicles through over-the-air updates. This significantly reduces development and upgrade costs for automakers.

Key Takeaways
The Global Automotive Cloud Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: North America currently has the largest share of the global automotive cloud market led by the U.S. Several major automakers such as General Motors, Ford, Tesla have embraced connected car technologies and are rapidly deploying automotive cloud platforms. The region also hosts major technology players offering automotive cloud solutions. The Asia Pacific region is projected to witness the highest growth during the forecast period with a CAGR exceeding 20%. China has emerged as the largest automotive market globally and companies are aggressively adopting cloud-based technologies to deliver personalized in-vehicle experiences.

Key players: Integrated DNA Technologies, Inc., Thermo Fisher Scientific Inc., Eurofins Genomics, Biomers.net, GenScript are some of the key players operating in the automotive cloud market. Integrated DNA Technologies is a leading American biotech company offering DNA synthesis and gene editing technologies. Thermo Fisher Scientific is a global leader in scientific instruments, services, and consumables for research.

For More Insights, Read: https://www.newsstatix.com/automotive-cloud-market-size-share-and-growth-forecast-2023-2030/