Automotive cloud market to surpass US $ 6,673 million by end 2027

0
291
Automotive cloud market to surpass US $ 6,673 million by end 2027
Automotive cloud market to surpass US $ 6,673 million by end 2027

The automotive cloud can reduce the risk of system failure and can focus on core business with cloud storage

Cloud plays a critical role in connected cars, autonomous driving, shared mobility, deeper consumer insights and digital manufacturing in the world of automotive. A latest research by Coherent Market Insights shows that by the end of 2027, the global automotive cloud market is estimated to account for US $ 6,673 million in terms of value.

For data from cars and the automotive supply chain, the automotive cloud is an open infrastructure. Including dealers, manufacturers, and other partners, it provides access to information from different sources. For example, it can improve supply chain visibility and resolve issues faster. As a result, it will help the automotive industry plan its activities more efficiently and profitably.

Including vehicles, smart phones, infrastructure, and other APIs, the automotive cloud provides robust infrastructure and services for a multitude of connected devices. As it will connect hundreds of thousands of devices, it will require careful planning and preparation. Besides, it will help automotive manufacturers focus on their core business. It will also give them the opportunity to achieve more by enabling them to focus on more complex tasks.

Its high availability makes it the best solution for automotive data. The automotive cloud can reduce the risk of system failure and can focus on core business with cloud storage. Ensuring that critical data is never lost, it can back up important data. It will also help it grow and scale faster. It is critical to get instant connectivity as the automotive industry has become more software-centric. This is why, for the automotive industry, the automotive cloud is a powerful solution. It provides better cost-efficiency, speed-to-market, and reliability, and it helps access to new technology.

Market Drivers:

Over the forecast period, the launch of new products is expected to propel growth of the global automotive cloud market. For instance, in December 2021, Amazon Web Services launched a new cloud-based data service – AWS FleetWise that allows automakers to collect and retrieve sensor and telemetry data from their vehicle fleets.

Moreover, over the forecast period, the launch of cloud-native retail operating platforms is also expected to propel growth of the global automotive cloud market. For instance, Tekion, a technology company, launched Zero-Contact Digital Sales, and Service, a consumer-facing product for dealers in July 2020. The applications are part of the company’s Automotive Retail Cloud, a cloud-native retail operating platform.

Market Opportunities:

For players in the global automotive cloud market, increasing adoption of vehicle infotainment is expected to offer lucrative growth opportunities. For instance, in February 2021, to leverage the Google Cloud Platform to power vehicle infotainment, Ford Motors signed a six-year agreement with Google GOOG.

Moreover, launch of telematics platforms is also expected to offer lucrative growth opportunities for players in the global automotive cloud market. For instance, in April 2019, ORBCOMM Inc. launched its enhanced web platform and its latest telematics devices for heavy equipment industry.

Market Trends:

To enhance their market share, major players operating in the global automotive cloud market are focused on adopting partnership strategies. For instance, in February 2021, Car.Software Organisation, a software company of Volkswagen Group, partnered with Microsoft to build a cloud-based Automated Driving Platform on Microsoft Azure.

Major players operating in the global automotive cloud market are focused on launching new products to expand their product portfolio. For instance, in January 2019, HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co. Ltd., launched the new HARMAN Ignite 3.0, an automotive cloud platform for OEMs.

Also readCIO News interviews Shri Wangki Lowang, Minister (IT) of Arunachal Pradesh

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.