Automotive Cloud Based System Market: Introduction
- The cloud has the ability to host a software service from a remote location that can be freely accessed and used via the internet. Cloud-based systems enable monitoring of car performance and issues without any action needed at the driver end.
- A cloud-based system eliminates human intervention in its operation. 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 based on internet network to monitor and determine whether an issue occurs, thus ensuring the safety of driver and passengers.
Key Drivers of Automotive Cloud Based System Market:
- In conventional vehicles, major accidents occur due to careless driving and undeveloped technologies in vehicles, which causes injuries to passengers. Such vehicles are unsafe for both driver and passengers, which is one of the major causes for the high rate of fatal accidents. Various manufacturing companies have recognized the safety concerns in conventional vehicles and have developed the cloud-based system for modern vehicles. Rise in production of vehicles integrated with such technology is likely to boost the cloud based system in developed countries.
- A surge in migration from rural areas to urban areas to earn a livelihood has been witnessed across the globe. Rise in urbanization increases the use of vehicles and boosts the production of vehicles within the region. Thus, growing fleet of vehicles to cater mobility needs of the urban population is driving the cloud-based system market across the globe.
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Challenges in Automotive Cloud-based System Market:
- High cost associated with procurement and maintenance of complex cloud-based system restrains the market. Furthermore, failure of sensors to detect the issue in the vehicle results in an injury and also causes high fatal accidents. These concerns related to costs and malfunction of the system hamper the market. Lack of infrastructure in vehicles and increased threats from hackers are also likely to restrain the global automotive cloud based system market.
Global Automotive Cloud-based System Market to Offer Attractive Opportunities:
- Increase in number of value added services is fueling the demand from such a vehicles consistently. People are looking forward to choosing such type of vehicles, which is likely to boost the production of vehicles and subsequently, propel the demand for cloud-based systems across the globe.
Asia Pacific Automotive Cloud-based System Market to Expand Rapidly
- The automotive cloud-based technology market in Asia Pacific is estimated to expand significantly during the forecast period, followed by North America and Europe. This can be attributed to the high rate of adoption of automotive cloud-based technology in countries such as China, which is the largest manufacturer of vehicles across the globe.
- Development of cloud infrastructure and adoption of cloud services by automotive OEMs based in India have also contributed to the expansion of the automotive cloud based system market in Asia Pacific
Key Players Operating in Global Cloud-based System Market:
The global automotive cloud-based system market is consulted with top manufacturers across the globe. Some key players operating in the global automotive cloud-based system market are:
- Robert Bosch GmbH
- Harman International
- Denso Corporation
- Delphi Automotive PLC
- Trimble Inc.
- Continental AG
- Denso Corporation
- Sierra Wireless
- Tom-tom International
- Verizon wireless
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Global Automotive Cloud-based System Market: Research Scope
Global Automotive Cloud-based System Market, by Deployment Type
- Private Cloud
- Public Cloud
Global Automotive Cloud-based System Market, by Vehicle Type
- Passengers Vehicles
- Commercial Vehicles
Global Automotive Cloud-based Market, by Electrical Vehicle Type
- Battery Electrical Vehicles
- Hybrid Electrical Vehicles
Global Automotive Cloud-based Market, by Application
- Advanced Driver Assistant Systems (ADAS)
- Fleet Management Application
- Over The Air (OTA)
- Connected Car Data Service
Global Automotive Cloud-based System Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.