The global cloud computing in automotive market size was USD 2.00 billion in 2018 and is expected to USD 9.62 billion by the end of 2025. Boost in security and reduced risk led the higher adoption of cloud computing in automotive industry.
Dallas, TX -- (SBWIRE) -- 02/03/2020 -- Cloud computing is anticipated to lead the development of safer vehicles therefore it is expected to have enormous scope in the upcoming years. To offer best-in-class facilities to customers, the manufacturers have chosen latest technology and innovation. For example, vehicle telematics is one of the most popular vendor among others as it covers wide range of computing and communications services situated within a car. Safety and convenience, security are their main concern. It is comprehensive of features like concierge services, remote diagnostics, remote door unlocking, stolen vehicle recovery and emergency calls. Adoption of green technology is another vital aspect of cloud computing in automotive industry.
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Environmental issues is the main problem that automotive industry is constantly encountering. Now a days consumers are aware of these environmental problems and finding alternative forms of transportation. Green technology is embraced with the help of cloud computing along with reduction in CO2. The required systems and processes to build and design electric vehicles can be developed with the help of Cloud computing.
Cloud computing serves an enterprise by offering access to storage, servers, databases, and an array of application services over the Internet. End-user enterprises provision and use what they need via web applications whereas a provider of cloud services, owns the essential network-connected hardware for application services. As it enables better vehicle engineering by acknowledging customer's demands with advanced analytic capabilities, adoption of cloud computing in automotive market is higher. This results in lower costs in inventory planning, replenishment, forecasting, and transport scheduling and optimization. In addition to that, it leads to scalability and permit supply chain to adjust to unexpected growth.
Along with the growth factors there are many challenges as well that the global cloud computing Market has to face. These challenges obstruct the growth. Out of the many challenges security of data is one of the most important challenge. Cloud is off-premises system. To prevent the system from cyberattacks, comply with international regulations and protect data strong security strategy is required. There are some common IT priorities of organizations in the automotive industry, With help of cloud computing, reduce energy consumption and data center usage, Build intelligent automobiles that are capable of interacting with their environment, Increase the application of cloud computing for product development and understand product consumption patterns. Another important aspect of the study i.e. regional analysis shows that the regions like Europe, North America, Asia Pacific, South America, Middle East and Africa are some the key regions in the Global market. The Global Cloud computing Market has a huge number of big and small vendors all over the world.
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North America and Europe are mature markets in terms of cloud computing services adoption, owing to very early adoption. Due to this cloud providers are focusing on new revenue streams coming from developing cloud markets in Asia, Africa, and South America. Rapid technological advancements in the regions of South America and the Middle-East & Africa region will propel the demand for cloud computing services in the respective regions. South America will be the next cloud market after the Asia Pacific, especially in thriving economies such as Brazil and Argentina.
Segment Overview of Global Cloud Computing in Automotive Market
Regional Overview:
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- UK
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- India
- Japan
- China
- Southeast Asia
- Rest of APAC
- South America
- Brazil
- Argentina
- Chile
- Peru
- Rest of South America
- Middle East and Africa
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