Research Nester released a report titled “Automotive Data Cloud Technology Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global automotive data cloud technology market in terms of market segmentation by application, electric vehicle type, vehicle type, service model, deployment and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The automotive data cloud technology market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the rising demand for advanced infotainment systems and need for the advanced driver assistance systems in car networking.
The market is segmented by application into fleet management, infotainment systems, telematics, over the air (OTA) updates, ADAS, and others. Among these segments, the fleet management segment is anticipated to hold the largest share by the end of 2021 in the automotive data cloud technology market due to the modernization of the fleet business and an increase in industries like car-rental services.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the automotive data cloud technology market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. This can be attributed because the government has mandated to have telematics systems and pre-installed satellite positioning for fleet vehicles to enhance fuel economy and vehicle wear.
Rising Demand for Advanced Infotainment Systems to Drive Market Growth
Adopting data cloud technology in the automotive market is higher as it enables better vehicle engineering by acknowledging customer’s demands with advanced analytic capabilities. It results in lower costs in inventory planning, replenishment, forecasting, and transport scheduling and optimization. It also leads to scalability and permits the supply chain to adjust to unexpected growth.
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This report also provides the existing competitive scenario of some of the key players of the global automotive data cloud technology market which includes company profiling of Apple Inc. (NASDAQ: AAPL), BlackBerry Limited (ETR: RI1), Verizon Wireless, Continental AG (ETR: CON), Ericsson AB (STO: ERIC-B), Robert Bosch GmbH, Airbiquity Inc., DENSO Corporation (TYO: 6902), and Trimble Inc. (NASDAQ: TRMB). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive data cloud technology market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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