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Global Automotive IoT Market Insights, Industry Outlook, Growing Trends And Demands 2032
Automotive IoT Market
The Business Research Company's Automotive IoT Global Market Report 2023 identifies Increasing demand for autonomous vehicles as the major driver for the Automotive IoT market's growth in the forecast period. Autonomous vehicles refer to self-driving vehicles that perform various functions and can operate on their own using various technologies. The Internet of things enables autonomous vehicles to connect wirelessly on a cloud system through multiple devices and provides vehicle-to-vehicle interaction, as a result, increasing demand for autonomous vehicles increases the demand for the automotive IoT market.
The global automotive IoT market size will grow from $125.82 billion in 2022 to $143.72 billion in 2023 at a compound annual growth rate (CAGR) of 14.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the automotive IoT is expected to grow to $246.58 billion in 2027 at a CAGR of 14.4%.
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Major competitors in the Automotive IoT market are Texas Instruments, NXP Semiconductors, Intel Corporation, TomTom, Cisco Systems, Microsoft Corporation, IBM Corporation, Google, AT&T, Apple, and Robert Bosch
A key trend in the Automotive IoT market includes Automotive predictive diagnostics solutions. The automotive companies are partnering with technology players for the integration of predictive diagnostics solutions into their existing models, which allows the upkeep frequency to be as low as possible to stop unplanned reactive maintenance without incurring costs related to doing an excessive amount of preventive maintenance. The predictive maintenance systems within the vehicle continuously monitor, collects, record, transfer and evaluate data from in-vehicle sensors to keep track of vehicle functional metrics
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The Automotive IoT market is segmented -
1) By Offering: Hardware, Software, Services
2) By Connectivity: Embedded, Tethered, Integrated
3) By Application: Infotainment, Fleet Management, Predictive Maintenance, Vehicle Security, Automatic Driver Assistance System, Other Applications
4) By End User: Original Equipment Manufacturers, Aftermarket
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Automotive IoT market.
The Business Research Company's "Global Automotive IoT Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive IoT Market Include:
1. Executive Summary
2. Automotive IoT Market Characteristics
3. Automotive IoT Market Trends And Strategies
4. Automotive IoT Market - Macro Economic Scenario
5. Automotive IoT Market Size And Growth
.......
26. Africa Automotive IoT Market
27. Automotive IoT Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive IoT Market
29. Automotive IoT Market Future Outlook and Potential Analysis
30. Appendix
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