Computer on Wheels Market Grow USD 3.8 Billion Globally by 2033, Riding a 7.3% CAGR Wave - Exclusive Report by Allied Market Research

Allied Market Research published a report, titled, "Computer on Wheels Market by Component (Hardware and Software) and Vehicle (Light Duty Vehicle, Heavy Duty Vehicle, and Robotaxi): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the computer on wheels market was valued at $1.9 billion in 2023, and is estimated to reach $3.8 billion by 2033, growing at a CAGR of 7.3% from 2024 to 2033.

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Progression in technology and change in consumer demand are two factors driving the growth of computer on wheels market. Furthermore, the data management issues and high development expenditure risk are two main factors restraining the growth of this market. Moreover, rise in electric vehicles is a significant growth opportunity for the global computer on wheels market.

Key Strategies and Developments

In September 2023, Tesla Inc. launched new Tesla model 3. Tesla started selling the model in Europe and China. This new vehicle has many exterior and internal modifications that make it a huge advance version over the original version. The car model consists of a center touchscreen that is 17 inches and has brighter screen and high contrast. This strategic move will strengthen Tesla's positon in the computer on wheels market share.

In November 2022, Volvo Cars launched the Volvo EX90 SUV, in Stockholm. The SUV is powered by Nvidia's Drive Orin and Drive Xavier platforms. These advanced computing platforms enable the EX90 to handle complex AI computations required for autonomous driving and advanced driver-assistance systems (ADAS) . The artificial intelligence (AI) capabilities include features such as real-time traffic data processing, driver monitoring systems, and predictive maintenance alerts. This strategic move will enhance Volvo's positon in the computer on wheels market growth.

In May 2022, the software division of the Volkswagen Group, Cariad, collaborated with Qualcomm Technologies, Inc. for system-on-chips (SoCs) for its software platform, which enabled level 4 assistance and automated driving functionalities. The snapdragon RideTM Platform SoCs from Qualcomm Technologies played a significant role as hardware in Cariad's scalable and standardized compute platform. This strategic move will create growth for Volkswagen Group in the computer on wheels market opportunity.

In September 2023, Honda Motor Co. Ltd, launched an all-electric Honda Prologue SUV. The Prologue SUV, featured an anticipated EPA range of 300 miles, and is powered by advanced computing platforms and integrates Google built-in services, offering a tech-rich, user-friendly cabin experience with wireless apple carplay and android auto compatibility​. This strategic move will enhance Honda Motor Co. Ltd. positon during the computer on wheels market forecast.

In January 2023, Advantech Co. Ltd. launched MIC 733-AO, a Nvidia Jetson AGX Orin based AI computing system. This system is designed for applications that integrate video, AI, and 5G. It supports multiple video inputs, including gigabit multimedia serial link (GMSL) , universla seral bus (USB) , and power over ethernet (PoE) , making it ideal for autonomous mobile robots (AMRs) and automated guided vehicles (AGVs) in industrial settings. The MIC-733-AO is built for harsh environments, capable of operating in temperatures ranging from -10 to 60 °C​.

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The computer-on-wheels market is segmented into components, vehicles, and regions. Based on components, the market is bifurcated into hardware and software. Based on vehicles, the market is divided into light-duty vehicles, heavy-duty vehicles, and robotaxi. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Based on component, the software segment is dominating the computer on wheels market. This is due to property of software to provide features such as autonomous driving, advanced driver assistance systems (ADAS), connectivity solutions, and in-vehicle infotainment systems. However, hardware segment is also growing at a significant rate. This is because hardware provides the physical infrastructure and computing power necessary for computer on wheels systems, due to the increasing emphasis on software-driven innovation, connectivity, and customization.

Based on vehicle type, the light duty vehicle segment, is dominating the market. This is due to large volume of production of light duty vehicle and widespread consumer adoption. However, the robotaxi segment is growing at an increasing rate. This is because autonomous driving technology is continuously advancing, and there is growing interest in deploying robotaxi fleets for urban mobility solutions.

Regional Outlook

Based on region, North America region is dominating the market. This is due to strong presence of tech giants and automotive manufacturers investing in computerized vehicle technologies. However, the Asia-Pacific region is growing at an increasing rate due to presence of tech-savvy consumers, strong manufacturing capabilities, and government initiatives promoting electric vehicles and smart transportation systems.

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Key Players:

Tesla Inc.
Volvo
Cardiad (Volkswagen Group)
Honda
BMW
Aptiv
Mercedes Benz
Lyft Inc.
Didi Chuxing Technology Co.
Baidu
Jaco
Advantech
Scott Clark Medical
Cura
Nanjing Tianao
Ergotron
Capsa Solutions
Enovate
Rubbermaid
Parity Medical
Stanley
Villard
ITD
Bytec
Convergint Innovation Medical

The report provides a detailed analysis of these key players in the global computer on wheels market. These players have adopted different strategies such as new product launch, and collaboration to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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