IoT in Automotive Market Analysis and Forecast to 2023

The Internet of Things (IoT) is a system of interrelated computing devices, mechanical & digital machines and objects to transfer data over a network automatically. It is an integral part of the automotive industry. Further, the introduction of IoT in automotive industry encourages the demand for automated devices that help analyze real-time information on fleet operators and vehicle users. Moreover, it is related with the internet of connected vehicles that distributes three kinds of communications such as vehicle-to-vehicle and vehicle-to-infrastructure and in-vehicle.

The IoT in automotive market is expected to experience a significant growth during the forecast period owing to real-time traffic alerts and incident alerts, increase in R&D expenditure by auto manufacturers and government funding for next-generation vehicle-to-vehicle and vehicle-to-infrastructure communication technologies.

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Self-driven cars as these are expected to transform the IoT-enabled automotive market, predictive maintenance, rise in demand for smart devices, rise in telematics mandates by governments, and demand for smartphone features in cars drive the market. However, lack of cellular connectivity coverage and premium pricing are expected to hinder the growth of the market.

The report segments the IoT in automotive market on the basis of connectivity form factor, component, application, communication-type, and geography. On the basis of connectivity, it includes tethered, integrated, and embedded. On the basis of component, it is divided into hardware, software, and services.

On the basis of application, the market is classified into navigation, telematics, and infotainment. On the basis of communication type, it includes vehicle-to-vehicle communication, in-vehicle communication, and vehicle-to-infrastructure communication. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The major players profiled in the report include Texas Instruments Inc., General Motors, Ford Motor Company, Apple Inc., Cisco Systems Inc., Intel Corporation, IBM Corporation, Google Inc., Microsoft Corporation, and Vodafone Group.

IoT in Automotive Market Key Segments:

By Connectivity Form Factor

• Tethered
• Integrated
• Embedded

By Component

• Hardware
• Software
• Services

By Application

• Navigation
• Telematics
• Infotainment

By Communication Type

• Vehicle-to-Vehicle Communication
• In-vehicle Communication
• Vehicle-to-Infrastructure Communication

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