From Personalized Driving Insights to Feedback, Connected Vehicle Cloud Solutions Helping Drivers Improve Their Driving Ability: Fact.MR Report

Fact.MR, in its newly published report, projects the global connected vehicle cloud market at a value of US$ 48.49 billion in 2024 and has forecasted it to expand at a CAGR of 14% between 2024 and 2034.

Growing demand for safer, more intelligent, and more efficient driving experiences is propelling the connected car cloud market ahead. With the help of this technology, cars are now able to function as mobile hubs for communication, providing drivers with a host of advantages that improve convenience and safety. Road safety has greatly increased for drivers with connected car cloud systems, which offer real-time traffic information, predictive maintenance alarms, and emergency support. Backed by this technology, drivers can now start their cars remotely, change the temperature inside, and use smartphone apps to find their whereabouts. While seamless integration with entertainment systems enhances the entire driving experience, personalized driving insights facilitate fuel-efficient driving through improvement in driving behavior.

Features such as usage-based insurance coverage and over-the-air software upgrades provide ease and cost savings. Connected car cloud technology, which gives drivers a better, more responsive driving experience that adjusts to their requirements and the changing road conditions around them, has become increasingly crucial as urban surroundings become more complicated and digitally intertwined.

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Key Takeaways from Market Study

• The global connected vehicle cloud market is forecasted to reach US$ 180.16 billion by 2034-end.The North American market is projected to expand at a CAGR of 14.3% through 2034.
• Vehicle management is set to account for 36.2% market share in 2024.East Asia is projected to account for 33.7% of the global market share by 2034.
• The South Korea market is foreseen to progress at a CAGR of 15.9% between 2024 and 2034.

“Emergency notification and assistance is helping drivers remain alert and cautious in case of any danger, saving the lives of many people,” says a Fact.MR analyst.

Advanced-Data Analytics Helping Drivers Understand Their Driving Patterns and Improve

More individualized driving experiences have been made possible by advanced data analytics, which adjusts vehicle performance to suit user tastes and driving behaviors. The advent of 5G is enabling more dependable autonomous driving features, better traffic management, and significant improvements in real-time communication capabilities. Latency is being reduced through edge computing integration, which is important for time-sensitive applications such as collision avoidance systems. Blockchain is being used to improve data security and open up new services such as automatic, safe toll, parking, and charge payments. The ability for automobiles to communicate with other vehicles and the infrastructure is known as vehicle-to-everything (V2X) communication, and it is rapidly enhancing traffic flow and safety.

These developments are turning automobiles into intelligent, networked platforms that improve user experience, efficiency, and safety. Because of this, there is a huge increase in the demand for connected car cloud solutions worldwide as both car manufacturers and customers realize the enormous potential and worth of this cutting-edge technology.

Insufficient Infrastructure Hindering Market Revenue Growth

The lack of robust network infrastructure on roads is limiting the ability of most vehicles to connect to the cloud or communicate with one another. In countries like Mexico, Brazil, and India, the growth of IT infrastructure on roadways is lagging behind that of developed nations. The required 3G and 4G-LTE networks are predominantly available only in urban and semi-urban areas, leaving rural regions with limited connectivity. Despite many third-party logistics companies operating in these areas, poor connectivity remains a significant challenge.

To foster the growth of the connected automotive sector in these countries, it may be essential to improve IT and communication infrastructure and implement appropriate regulations. Additionally, industry players may need to comply with national telecom regulations, including those related to lawful interception and in-country entity requirements. Discussions around platform interoperability, cross-border use cases, and net neutrality—where internet service providers prioritize certain data transmissions—will also need to be addressed due to the global reliance on data networks.

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Key Market Players:

• Siemens AG
• Robert Bosch GmbH.
• IBM Corporation
• Amazon Web Services
• Cisco System, Inc
• Verizon Communications Inc.
• Harman International
• Continental AG
• AT&T
• Robert Bosch Gmb
• Daimler AG
• Audi

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the connected vehicle cloud market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on deployment model (private cloud, public cloud, hybrid cloud), connectivity mode (embedded, integrated, tethered), service (vehicle management, infotainment services, safety & security services, driver assistance services), and vehicle type (passenger, commercial), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

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