Global IoT in Automobile Market by Offering (Hardware, Software, Services), by Communication Type (In-vehicle, Vehicle to Vehicle, Vehicle to Infrastructure) and Application (Infotainment, Navigation, Telematics) – Forecast 2022
Market Synopsis of Global IoT in Automobile Market:
Internet of Things rather IoT is known as a concept or a paradigm that considers pervasive presence in the environment of a variety of things or objects that through wireless and wired connections and unique addressing schemes are able to interact with each other and cooperate with other things or objects to create new applications. It is basically the wireless connectivity of physical devices to achieve efficiency, business growth and quality. Also, internet of things in the automotive industry is helping the industry to redefine and reinvent. The automotive IoT transition is evolving through four phases.
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The key drivers for the growth of IoT in automobile market are real-time traffic and incident alerts, growing number of telematics mandates by various governments, and the growing demand for assisted & automated driving. The government funding for next generation vehicle-to-vehicle and vehicle-to-infrastructure cars and the high consumer’s demand for smartphone features in cars. However, the concerns over security and privacy are hindering the growth of the IoT in automobile market.
Geographically, North-America accounted for the largest market share in the global IoT in the automobile market whereas Asia-Pacific region is expected to grow at a fast pace over the forecast period 2016-2022.
The global IoT in automobile market is expected to reach USD 83 billion by the end of 2022 with 27% CAGR during forecast period 2016-2022
Key Players of Global IoT in the Automobile Market
The key players of global Iot in the automobile market report include Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), TOMTOM N.V. (Netherlands), IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), Microsoft Corp. (U.S.) ,Thales SA (France), AT&T Inc. (U.S.), Vodafone Group (U.K.), Robert Bosch GmbH (Germany), Google Inc. (U.S.), Apple Inc. (U.S.), General Motors (U.S.), Audi AG (Germany) , Ford Motor Company (U.S.) and others.
Study Objectives of Global IoT in the Automobile Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global IoT in the Automobile market.
- To provide insights about factors affecting the market growth.
- To analyze the global IoT in the Automobile market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by offering, communication type, application and region.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global IoT in the Automobile
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Market Segments of Global IoT in the Automobile Market:
The Global IoT in automobile market has been segmented on the basis of offering, communication type, application and region. By offering, the market has been bifurcated into hardware, software, services.
On the basis of communication type, the market can be segmented as in-vehicle, vehicle to vehicle, vehicle to infrastructure.
On the basis of application the market can be segmented infotainment, navigation and telematics. Further, the market has been segmented into four regions which include- North America, Europe, Asia-Pacific and RoW.
Out of these, infotainment accounted for the largest market share because of device integration, high-speed connectivity, intuitive and multi-modal user interfaces in the systems installed in vehicles.
Regional Analysis of Global IoT in the Automobile Market:
Regionally, North-America accounted for the largest market share because of the boom in the ICT sector, the automotive sector, and the transportation sector which resulted in the emergence of the connected vehicle ecosystem.
Asia-Pacific region is expected to grow over the forecast period, 2016-2022 especially in countries such as China and India countries because they are investing huge amount of money in the transportation sector.
Intended Audience of Global IoT in the Automobile Market
- IoT in the Automobile Manufacturers
- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Research organizations
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