Automotive Internet of Things Market Research Report 2026 - Innovation In Products Is Expected To Generate Higher Revenue For The Manufacturers -Apple, AT&T, Audi AG, Cisco Systems, Ford Motor Company, General Motors, Google

Automotive IoT, as the name suggests, is the integration of IoT invehicle vehicles, allowing for in-vehicle, vehicle-to-vehicle, and vehicle-to-infrastructure communication. Increasing consumer inclination towards autonomous driving vehicles is one of the major factors for growth of the automotive IoT market over the forecast period. Driverless cars require large volume of data for analysis and are connected with cloud based traffic and navigation services, which aids them in navigating on roads. This has led to increasing demand for internet connectivity in automotive vehicles.

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Market Dynamics

Rising demand for Internet in automotive vehicles, owing to increasing application in infotainment system, navigation system, and telematics systems is one of the major factors for growth of the IoT in the automotive industry. According to Coherent Market Insights, it is projected that by 2020 around 250 million cars would be Internet connected, globally. In addition to this, high investment in autonomous cars by various market leaders is also expected to be another factor for growth of the market. For instance, in 2017, SoftBank Group Corp.—a Japan-based telecommunication company—General Motors, and BMW invested US$ 159 million in Nauto— a U.S.-based driverless car startup.

North America held the dominant position in the market in 2016

North America held a dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. The U.S. and Canada are the major growth engines in the region. Increasing deployment of driverless cars is one of the major factors for growth in this region. For example in 2017, Volvo have announced that they will supply 24,000 self-driving cars to Uber. Moreover, presence of leading companies in this region is another driving factor for growth of the automotive IoT market in this region for example Apple, Inc., AT&T Inc, Cisco Systems, Inc etc.

Asia Pacific is projected to be fastest growing market for IoT automation over the forecast period, with India, China, and Japan positioned as the major growth engines in the region. This is mainly attributed to increasing consumer spending power and the region emerging as one of the largest manufacturing hubs for automotive.

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Key Companies- Global Automotive Internet of Things Market

Some of the major companies in the global automotive IoT market are Apple, Inc., AT&T Inc., Audi AG, Cisco Systems, Inc., Ford Motor Company, General Motors, Google Inc., Intel Corporation., International Business Machines Corporation, Microsoft Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, Texas Instruments Inc., Thales Sa, and Tomtom N.V.

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This release was published on openPR.