PUBLISHER: Inkwood Research | PRODUCT CODE: 1395539
PUBLISHER: Inkwood Research | PRODUCT CODE: 1395539
The Germany car subscription market is estimated to record a CAGR of 28.56% during the forecast period, 2024-2032. The country is considered to be an automotive hub, with the presence of key automotive manufacturers. The Market prospect for car subscriptions are influenced by these factors.
Germany holds a prominent position in the European automotive industry, with major manufacturing companies like BMW, Volkswagen, Audi, Mercedes-Benz, and others contributing to its status. According to the German Trade & Invest (GTAI), the Federal Republic of Germany's economic development agency, there are approximately 40 original equipment manufacturer (OEM) automobile manufacturing sites that produced about 16.4 million vehicles. The Internet of Things (IoT) market in Germany is anticipated to experience growth during the forecast period, driven by the increasing demand for connected vehicles, rising internet penetration, and the development of cloud-based applications.
Many companies in the region have already initiated and implemented Industrial Internet of Things (IIoT) solutions for various applications, embracing smart manufacturing solutions. The small and medium enterprises sector, which forms the foundation of Germany's industrial output, is anticipated to be the primary beneficiary of the implementation of these technologies and solutions. Such factors facilitate market growth in nation.
Some major market players include: Avis Budget Group, Cazoo Ltd, Hertz Germany, Nissan Motor Corporation, Hyundai Motor, etc.