The cloud can host a software service from a remote location that is freely accessible and used through the internet. Cloud-based systems enable monitoring of car performance and issues without any action needed at the driver end. A cloud-based system operates without the need for human intervention. This system operates automatically through a network of sensors when any issue about performance occurs in the vehicle. The cloud-based system is a software service that uses an internet network to monitor and detect problems, assuring the safety of drivers and passengers. The Asia-Pacific automotive cloud-based technology market is expected to grow considerably during the forecast period, followed by North America and Europe. This can be attributed to the rapid adoption of automotive cloud-based technologies in countries such as China, which is the largest manufacturer of vehicles across the globe. The development of cloud infrastructure and the use of cloud services by Indian automotive original equipment manufacturers (OEMs) have also contributed to the growth of the automotive cloud-based system market in the Asia-Pacific
COVID-19 Impact Analysis
The COVID-19 outbreak had a significant global impact on the automotive sector, resulting in a significant reduction in automotive sales, insufficiency of raw material, and others. Many small and large players in the automotive sector are experiencing difficulties such as production halts, mandated plant closures by the government, and others. Moreover, as a result of COVID-19, automotive OEMs and several advanced mobility players have experienced the biggest impact in the automotive industry. This could lead to a direct long-term influence on the automotive industry as well due to the macroeconomic trends, changes in consumer behavior, and regulatory developments. The automotive industries are on the search for how changes in consumer behavior may influence passenger cars sales with many changes imposed upon our daily lives by the COVID-19 pandemic. However, industry leaders are always investing into R&D activities to bring about the change in the in-car infotainment market. For Instance, in 2020, Mercedes-Benz introduced an advanced multimedia infotainment system, MBUX, that provides customers with real-time information about the pandemic. The infotainment system will enable users to navigate to the nearest COVID-19 testing centers. Furthermore, Jaguar Land Rover envisions a gesture control system for cars in 2020 to limit the virus transmission.
Top Impacting Factors
- Rise in adoption of connected cars, surge in adoption of cloud technology, and rise in demand for electric vehicles drive the growth of the market.
- High cost associated with procurement & maintenance of complex cloud-based system, failure of sensors, and increase in threats from hackers hinder the growth of the market.
- Rise in urbanization, and growth in g fleet of vehicles act as an opportunity for the market investments.
Key Benefits of the Report:
- This study presents the analytical depiction of the automotive cloud-based system market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive cloud-based system market.
- The current market is quantitatively analyzed to highlight the growth scenario of the automotive cloud-based system market.
- The report provides a detailed automotive cloud-based system market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Automotive Cloud Based System Market Research Report:
- Who are the leading market players active in the automotive cloud-based system market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the automotive cloud-based system market?
- What are the future projections that would help in taking further strategic steps?
Automotive Cloud based System Market Report Highlights
By Service Model
Key Market Players
Trimble Inc., Delphi Automotive PLC, Continental AG, Sierra Wireless, Denso Corporation, Verizon wireless., Robert Bosch GmbH, Tom-tom International, Harman International