Global Industry Analysts Predicts the World Cloud Based Solutions for Automotive Market to Reach $126.7 Billion by 2026

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Aug 20, 2021, 11:40 ET

SAN FRANCISCO, Aug. 20, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Cloud Based Solutions for Automotive - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

World Cloud Based Solutions for Automotive Market

FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Pool: 2163
Companies: 11 - Players covered include Airbiquity, Inc.; BlackBerry Ltd.; Continental AG; Delphi Automotive PLC; Denso Corporation; Ericsson AB; HARMAN International; Robert Bosch GmbH; Sierra Wireless, Inc.; TomTom International BV; Trimble, Inc.; Verizon Wireless and Others.
Coverage: All major geographies and key segments
Segments: Application (Fleet Management, Infotainment, Over the Air (OTA) Updates, Telematics, ADAS, Other Applications); Service Model (Professional, Managed); Vehicle Type (Passenger Cars (PC), Commercial Vehicles (CV))
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Cloud Based Solutions for Automotive Market to Reach $126.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Cloud Based Solutions for Automotive estimated at US$38.1 Billion in the year 2020, is projected to reach a revised size of US$126.7 Billion by 2026, growing at a CAGR of 19.7% over the analysis period. Fleet Management, one of the segments analyzed in the report, is projected to record a 20.8% CAGR and reach US$47.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Infotainment segment is readjusted to a revised 17.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $13.8 Billion in 2021, While China is Forecast to Reach $19.5 Billion by 2026
The Cloud Based Solutions for Automotive market in the U.S. is estimated at US$13.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$19.5 Billion by the year 2026 trailing a CAGR of 18.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.4% and 17.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.6% CAGR.

Over the Air (OTA) Updates Segment to Reach $5.8 Billion by 2026
In the global Over the Air (OTA) Updates segment, USA, Canada, Japan, China, and Europe will drive the 18.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$4.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2026. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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