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Global IoT in Automotive Market Expected to Grow at CAGR over 28% during 2018-2025

IoT in Automotive Market

IoT in Automotive Market

Global IoT in Automotive Market is expected to grow with a growth rate over 28% during the forecast period due to its benefits like updating real-time traffic and incident alerts that help people in saving time and responding to critical situation intelligently. In the automotive industry, IoT has allowed greater transportation efficiency and management capabilities. The market is majorly accelerated by increasing need for time saving and maximizing productivity at fast-paced world. Further, the presence of high-speed mobile networks will promote IoT growth, enhancing response times and vehicular communication.

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Growing consumer demand for better software and connectivity features embedded into their infotainment systems will drive the Global IoT in Automotive market.
Consumers are looking for better infotainment system in car, demanding smart apps to enjoy in-car navigation, telematics, and entertainment. IoT helps customers to solve the problems regarding poor fleet management by offering better analytics and control such as fuel consumption, monitoring idling, travel conditions and travel time which is gaining consumer’s interest. Increasing concern towards safety and security of the passengers and growth in automobile industry will further promote IoT growth. Further, collaboration and partnership among several industry players in the market and development of 5G technology hold huge opportunity for the growth of global IoT Automotive market.

Scope of the Report
On the basis of the product, the IoT in Automotive market offering segment the market is categories as hardware, software, and service. Based on the connectivity from factors segment the market is segmented as embedded, tethered and integrated. Communication type In-vehicle, vehicle-to-vehicle and vehicle-to- infrastructure market is segmented by private charging station and OE Charging Station. By application, the market is segmented as Navigation, Telematics, and Infotainment. Finally, the report covers the analysis of these segments across North America, Europe, Asia Pacific, Middle East & Africa and Latin America along with the qualitative analysis for market estimates that boosts the growth of the global IoT in Automotive market during the forecast period.

The report also highlights the competitive landscape of the global IoT in Automotive market that includes the company overview, products & offerings, strategic decisions taken by the company, launch of new products, technology landscape, and financial highlights.

Key Offering Analysis
IoT in Automotive is segmented in offering which includes hardware, Software, Service

• Hardware is a combination of network persistence, embedded technologies, and cloud that allows physically connected computing systems to deliver innovative new services. Therefore, the IoT employs technologies to enable automotive interactivity and automation. By adding hardware accessories to automotive vehicle, one can go beyond basic GPS tracking and bring lots of value, at very little upfront set-up time.
• Software in self-driving cars will be 90% will be a mix of apps, software platform, and AI, where as hardware are 10% of the IoT automotive

Connecting Form Factor Analysis
• Embedded automotive utilize a built-in antenna and set of electronic components, while tethered automotive use hardware to enable drivers to interface with their cars by means of their cell phones. Moreover, app integration is becoming commonplace in recent vehicles. Google Maps and other route devices have started to supplement work in GPS frameworks.
• Integrated vehicles enhances connectivity and the vehicle is increasingly integrated into a broader ecosystem of other devices and infrastructure, capabilities like smart traffic routing of self-driving vehicles, designed to improve roadway efficiency which will increasing the demand for the segment.

Competitive Dynamics
The global IoT in Automotive market is dominated by a number of players, amongst them, the major players are Texas Instruments Inc, Intel Corporation, GENERAL MOTORS, FORD MOTOR COMPANY, etc. Companies in this industry are highly investing on research and development to implement better technology, which is intensifying the rivalry among manufacturers making it difficult for new entrance.

In addition, the report provides analysis of the global IoT in Automotive market with respect to the following geographic segments:
• North America
• Europe
• Germany
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• Latin America

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