Automotive IoT Market Worth $541.73 Billion by 2025 - Exclusive Report by Meticulous Research®
IoT devices are used in the automotive sector to create innovative solutions and applications which can make vehicles smarter and intelligent, facilitating safe, efficient, and comfortable driving. IoT connects people, vehicles, auto parts, machines, and services to make the efficient flow of data, allow real-time decisions, and improve automotive experiences. In order to achieve this, leading automotive manufacturers, suppliers, and dealers have started investing heavily in the Internet of Things. Growing demand for connected vehicles, government initiatives for smart cities & smart traffic management systems, approvals & funding for autonomous vehicle testing, demand of infotainment and real-time vehicle tracking system, and adoption of road vehicle safety solutions are the key factors driving the growth of the global automotive IoT market. However, high cost for IoT connectivity and lack of cellular connectivity coverage obstructs the growth of this market to a certain extent.
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5071
The global automotive IoT market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025. The market is segmented on the basis of offering (component, platforms, IoT services, and IoT solutions), connectivity (tethered, integrated, embedded), application (infotainment, fleet management, predictive maintenance, vehicle security, automatic driver assistance system (ADAS), traffic management, and others), and end-user (original equipment manufacturers, aftermarket). The study also evaluates industry competitors and analyses the market at a country level.
Based on the offering, the platform segment is the largest as well as the fastest-growing segment during the forecast period. The growth of this segment is mainly attributed to its high adoption in both developed and developing countries for monitoring the data generated from connected vehicles. Also, factors such as increasing demand for data storage over the cloud and connected devices in the IoT ecosystem further helps to drive the growth of the automotive IOT platform market.
Based on application, infotainment application is estimated to account for the largest share of the overall automotive IoT market in 2019. However, predictive maintenance application is expected to witness rapid growth during the forecast period. The rapid growth of this segment is primarily attributed to increasing demand for predictive maintenance technology from fleet companies to avoid downtime as well as growing adoption of this technology in luxury vehicles as it optimizes engine performance and monitors and predicts ambient conditions, fuel consumption, and other factors for ideal performance.
Based on end-user, the Original Equipment Manufacturers (OEMs) segment is projected to grow at the fastest CAGR during the forecast period. The fast growth of this segment is mainly attributed to the government mandates in various countries to implement IoT features such as GPS, e-calls, and vehicle tracking systems in vehicles; growing need to improve the driver & passenger travel experience; and consumers' demand for smartphone features in cars.
Browse key industry insights spread across 277 pages with 287 market data tables & 53 figures & charts from the market research report: https://www.meticulousresearch.com/product/automotive-iot-market-5071/
Geographically, Europe is estimated to command the largest share of the overall automotive IoT market in 2019. The large share of Europe is primarily attributed to the presence of major automotive companies and their focus on IOT, European Government's initiative to increase the IoT adoption in automotive; funding for autonomous vehicle testing facilities; and presence of strict telematics regulations. However, Asia Pacific region is expected to witness rapid growth during the forecast period. The rapid growth of this region is mainly attributed to the growing government initiatives for smart cities & smart traffic management systems. For instance, the government of India is working on the intelligent traffic system project in Delhi. The new project, which will cost around ₹1,000 crores (approx. $145.1 million), will aim to refit the current traffic system in Delhi. Moreover, factors such as rapidly developing economies, broadening internet connectivity and high-speed networks, and technological developments in the automotive sector are also supporting the growth of the automotive IOT market in Asia Pacific region.
The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016-2019). The automotive IoT market has witnessed number of product launches in recent years. For instance, in March 2019, TomTom launched the industry's first High Definition (HD) map horizon for automated driving. This HD map horizon helps vehicles to build highly accurate virtual picture of the road ahead, enhancing driver safety and comfort. Similarly, in September 2018, NXP Semiconductors N.V. introduced its newest NTAG DNA tag chip that deliver privacy enabled, multi-layered security for NFC and IoT authentication applications.
The global automotive IoT market is consolidated and dominated by a few major players, namely Texas Instruments Inc. (U.S.), NXP Semiconductors N.V. (The Netherlands), Intel Corporation (U.S.), Tom Tom N.V. (The Netherlands), Cisco Systems, Inc. (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Google Inc. (U.S.), AT&T Inc. (U.S.), Apple, Inc. (U.S.), and Robert Bosch GmbH (Germany), among others.
Request Sample Report@ https://www.meticulousresearch.com/request-sample-report/cp_id=5071
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
Europe : +44-203-868-8738
APAC: +91 744-7780008
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive IoT Market Worth $541.73 Billion by 2025 - Exclusive Report by Meticulous Research® here
News-ID: 2651156 • Views: 171
More Releases from Meticulous Research®
Oligonucleotide Synthesis Market worth $3.9 billion by 2025 - Exclusive Report b …
According to a new market research report titled, "Oligonucleotide Synthesis Market by Product & Service (Synthesizer, Custom Oligonucleotide Synthesis Service, Probes, Primers, Linkers & Adaptor, Reagents & Consumables), Application (Research, Therapeutics, Diagnostics), and End User - Global Forecast to 2025", the global oligonucleotide synthesis market is expected to grow at a CAGR of 10.4% from 2019 to 2025 to reach $3.9 billion by 2025. The unique ability of oligonucleotides (ON) to
Healthcare Artificial Intelligence Market to Reach $51.3 Billion by 2027, Growin …
Meticulous Research® in its latest publication titled "Healthcare Artificial Intelligence Market by Product and Services (Software, Services), Technology (Machine Learning, NLP), Application (Medical Imaging, Precision Medicine, Patient Management), End User (Hospitals, Patients) - Global Forecast to 2027", states that the healthcare artificial intelligence market is expected to grow at CAGR of 41.4% from 2020 to reach $51.3 billion by 2027. The growth of this market is primarily driven by factors such
Water and Wastewater Treatment Market Worth $956.48 billion by 2032 | Veolia Env …
According to a new market research report titled, 'Water and Wastewater Treatment Market by Type (Water Treatment, Wastewater Treatment), Offering, Application (Municipal, Industrial), and Geography-Global Forecast to 2032,' the water and wastewater treatment market is expected to grow at a CAGR of 5.4% during the forecast period 2022-2032 to reach $956.48 billion by 2032. Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5026 The aim of wastewater treatment is to protect humans and the
Location-Based Services (LBS) Market Worth $239.7 Billion by 2029
Location-based services (LBS) is a solution that utilizes the device's geographical location to provide information to the user. The technology has gained considerable significance and is becoming an integral part of organizations due to the numerous benefits offered by location-based services, including store locators, proximity-based marketing, real-time information, such as traffic updates or weather reports, roadside assistance, mobile workforce management, and fraud prevention. Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5252 According to
More Releases for IoT
Global IoT Gateway Market
Global IoT Gateway Market – Industry Analysis and Forecast (2018-2026) – by Node, Connectivity Technology, Component, Application, and Region. Global IoT Gateway Market was valued US$ 11.5 Bn in 2017 and is expected to reach US$ 85 Bn by 2026, at a CAGR of 28.41 % during the forecast period. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated
Global IoT Software Market
Global IoT Software Market is segmented into type, application, and geography. On the basis of type, a market is segmented into Real-time Streaming, Analytics Software, Security Solution Software, Data Management Software, Remote Monitoring System Software, and Network Bandwidth Management Software Global IoT Software Market was valued US$ 1.5 Bn in 2017 and expected to reach US$ 7.9 Bn in 2016, at CAGR 23.8% during forecast period. Browse Complete Premium Research
Global IOT Sensors Market
Global IOT Sensors Market – Industry Analysis and Forecast (2016-2024) Global IOT Sensors Market was valued at more than US$ 4 Bn in 2016 and is expected to cross US$ 45 Bn by 2024, at CAGR of more than 40%. The increase in IoT sensors market growth is driven by the certain key factors such as development of cheaper, smarter, and advanced sensors, rising market demand for smart devices and
IoT Data Management Market
The demand for IoT data management has increased due to widespread adoption of end-to-end data management platforms to capitalize IoT data more efficiently. Moreover, modernization of data warehouse architecture, rising need for data security and data traffic management, and rising implementation of IoT device security for data encryption are some of the other factors driving demand in this market. The global IoT data management market can be categorized based on type
Publisher’s market research analysts predict the global telecom IoT market to grow steadily during the forecast period and post an impressive CAGR of more than 42% by 2020. This industry research report identifies the growing adoption of intelligent transportation systems (ITS) to be one of the major factors that will have a positive impact on the growth of this market in the coming years. In addition to enabling operators to
IoT Processor Market
In this connected world, internet of things (IoT) is fueling every aspect of human lives. The data that is generated every day from these connected devices is humongous. Proper functioning of these connected devices requires real time exchange of data and information amongst them so that they can solve human problems. In another word IoT means more data, more sensors, agile responses, end-to-end connectivity and smarter user interfaces. All these