Mentions of cloud computing in automotive company filings increased by 26% between the third and fourth quarters of 2021.
In total, the frequency of cloud computing-related phrases in 2021 was 54% higher than in 2016, when GlobalData, from which our data comes from for this article, began tracking top issues mentioned in company filings.
When companies in the automotive industry publish annual and quarterly reports, ESG reports and other documents, GlobalData analyzes the text and identifies individual phrases related to the disruptive forces companies will face in the years to come. Cloud computing is one such topic – companies that excel and invest in these areas are considered better prepared for the future business landscape and better equipped to overcome unforeseen challenges.
To assess whether cloud computing features more in the summaries and strategies of companies in the automotive industry, two measures were calculated. First, we looked at the percentage of companies that mentioned cloud computing at least once in their filings over the last twelve months – it was 56% compared to 29% in 2016. Second, we calculated the percentage of the total parsed sentences referring to the cloud. computing.
Among the 10 largest employers in the automotive industry, Lear is the company that referred to cloud computing the most in 2021. GlobalData identified 13 cloud-related phrases in documents filed by the US-based company , or 0.2% of all sentences. Denso mentioned cloud computing in second place – the issue was mentioned in 0.12% of sentences in the company’s filings. Magna, Toyota, and Continental are other top employers with high cloud mentions.
This analysis provides a rough indication of which companies are focusing on cloud computing and how big the problem is in the automotive industry, but it also has limitations and should be interpreted with caution. For example, a company mentioning cloud computing more regularly is not necessarily evidence that it is using new techniques or prioritizing the problem, nor does it indicate whether the company’s companies in cloud computing have been successes or failures.
Last quarter, US-based automotive companies were the most likely to mention cloud computing with 0.05% of sentences in company filings referencing the issue. In contrast, companies headquartered in Asia mention cloud computing in just 0.03% of sentences.