Market Research Report
Germany Car Subscription Market Forecast 2021-2026
|Published by||Inkwood Research||Product code||1018689|
|Published||Content info||116 Pages
Delivery time: 2-3 business days
|Germany Car Subscription Market Forecast 2021-2026|
|Published: July 19, 2021||Content info: 116 Pages||
The Germany car subscription market is estimated to record a CAGR of 19.87% during the forecast period, 2021-2026. Germany is considered to be an automotive hub, with the presence of key automotive manufacturers. Such factors contribute to the car subscription market prospects.
Germany is considered to be a major automotive industry in Europe, due to the presence of big manufacturing companies like Audi, Volkswagen, Mercedes-Benz, BMW, etc. According to the German Trade & Invest (GTAI), the Federal Republic of Germany's economic development agency, almost 40 OEM automobile manufacturing sites manufactured around 16.4 million vehicles in 2017. Also, the IoT market is projected to record significant growth during the forecast period, given the huge demand for connected vehicles, the increasing development of cloud-based applications, and the growing internet penetration.
Furthermore, many companies have already implemented IoT solutions for several applications, along with adopting different smart manufacturing solutions. The small and medium enterprises sector is the base of the country's industrial output. It is also evaluated to be the primary beneficiary of the implemented solutions and technologies. Such factors facilitate market growth in Germany.
Some major market players include: Porsche Automobil Holding SE, SIXT SE, Toyota Motor Corporation, Volvo Care, Hyundai Motor, etc.