What is Automotive IoT Market Scope?
The global automotive IoT market is expected to witness high demand due to technological advancements that help automotive industry sees a rapid transformation and growth. Automotive IoT is an embedded IoT technology into automotive systems to create new applications and solutions which can make vehicles smarter and more intelligent, facilitating safe, efficient and comfortable driving. IoT technologies are used in the automotive sector to create innovative and advanced solutions, including connected car solutions, in-vehicle infotainment systems, Advanced Driver-Assistance Systems (ADAS), navigation & telematics solutions, Vehicle-to-Vehicle (V2V) applications, predictive maintenance solutions, Vehicle to Everything (V2X) communication applications and Vehicle to Infrastructure (V2I) applications.
Influencing Trend:
Growing Demand for Assisted & Automated Driving
Market Growth Drivers:
Rising Demand of Consumers for Smartphone Features in Cars and Growing Demand for Automated Driving and Real-Time Traffic and Incident Alerts
Challenges:
Protection of Data Generated By IoT Devices
Restraints:
High Cost of the System to Built-in and Implementation of System and Lack of Connectivity Coverage
Opportunities:
Growth in Automobile Sector in Developing Countries and Self-Driven Cars Likely to Revolutionize the IoT-Enabled Automotive Market
The Automotive IoT market study is being classified by Type (Hardware, Software and Services), by Application and major geographies with country level break-up.
The increasing traffic and accident incident overheads over the past few years, there is an increasing demand for automation in automotive. Thus, the number of IT infrastructure providers, as well as software developers, have entered the market resulting in the increasing competition over the past couple of years. Moreover, the threat of new entrants is also maximum since the automotive IoT can be developed in open source. Thus, the overall competitive rivalry is going to intensify in the forecasting years. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Automotive IoT market throughout the predicted period.
Texas Instruments (United States), Intel (United States), NXP Semiconductors (Netherlands), TOMTOM (Netherlands), IBM (United States), Cisco (United States), Microsoft (United States), Thales SA (France), AT&T (United States), Vodafone (United Kingdom) and NEC Corporation (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Robert Bosch (Germany), Apple (United States), General Motors (United States), Audi (Germany) and Ford Motor (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Automotive IoT market by Type, Application and Region.
On the basis of geography, the market of Automotive IoT has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In Dec 2019, Ericsson and Microsoft are bringing their connected vehicle expertise together. Ericsson is building its Connected Vehicle Cloud on top of the Microsoft Connected Vehicle Platform that is running on the Microsoft Azure cloud platform. The integrated solution allows automakers to deploy and scale global vehicle services such as fleet management, over-the-air software updates and connected safety services much easier and faster while reducing costs. It provides flexibility through modular design and multiple deployment options.
In March 2019, Renault-Nissan-Mitsubishi announced the production release of the Alliance Intelligent Cloud, a new platform that is enabling Renault, Nissan, and Mitsubishi Motors to deliver connected services in vehicles sold in nearly all 200 markets served by the Alliance member companies. Culminating joint development efforts between the Alliance and Microsoft, the auto industry’s first global and most ambitious connected vehicle program will be deployed utilizing the cloud, artificial intelligence (AI), and IoT technologies provided by Microsoft Azure
Key Target Audience
Automotive IoT Service Provider, Large, Medium-Sized and Small Enterprises, Venture Capitalists, Industry Association Related With the Automotive IoT, Potential Investors, Government Regulatory Bodies, Government and Private Research Organization and Others
Automotive IoT Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Automotive IoT Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Automotive IoT industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.