Press release
Internet of Things in Automotive Market Expected to Reach USD 671.37 Bn. by 2030 with an 26.7% CAGR: Poised for Significant Growth
Internet of Things in Automotive Market
Internet of Things in Automotive Market size was valued at USD 128.09 Bn. in 2023 and the total revenue is expected to grow by 26.7% from 2024 to 2030, reaching nearly USD 671.37 Bn.
Internet of Things in Automotive Market Overview:
The Internet of Things (IoT) in the automotive market was valued at USD 128.09 billion in 2023, with projections indicating significant growth to nearly USD 671.37 billion by 2030, at a compound annual growth rate (CAGR) of 26.7%. IoT in automotive refers to the integration of internet-connected devices and sensors within vehicles, enhancing their capabilities in terms of safety, efficiency, and user experience. This technology allows for real-time data collection and sharing, transforming the interaction between consumers and vehicles. IoT is making cars smarter and more connected, improving driving quality, maintenance, and overall vehicle management.
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Drivers in the Internet of Things in Automotive Market:
The growth of the IoT in the automotive market is driven by several factors, including the increasing integration of electronics and advanced technologies in vehicles. The demand for enhanced driving experiences, real-time traffic and safety information, and preventive maintenance solutions are key contributors. Moreover, the rise of autonomous vehicles and the need for smart, connected infrastructure are further propelling the market. Governments are also investing in next-generation vehicle communication technologies, supporting the development and adoption of IoT in automotive applications.
Internet of Things in Automotive Market Trends:
One of the notable trends in the IoT automotive market is the shift towards Mobility as a Service (MaaS), where consumers prefer flexible, short-term vehicle access options such as rentals and ride-sharing over traditional ownership. Additionally, there is a growing demand for a seamless digital environment that integrates connectivity, transportation, entertainment, and other services. The use of 5G networks and the development of smart city infrastructure are also enhancing the integration of IoT in vehicles, facilitating advanced vehicle-to-vehicle and vehicle-to-infrastructure communications.
𝐍𝐞𝐞𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 + 𝐆𝐫𝐚𝐩𝐡𝐬 𝐇𝐞𝐫𝐞:https://www.maximizemarketresearch.com/inquiry-before-buying/10421/
Internet of Things in Automotive Market Opportunities:
The IoT automotive market presents significant opportunities for innovation and growth. The ongoing advancements in data processing and connectivity infrastructure are creating new possibilities for real-time vehicle monitoring and management. Companies can capitalize on the rising demand for smart, connected vehicles by developing IoT-enabled solutions that enhance safety, efficiency, and user convenience. Additionally, government initiatives supporting smart city projects and the increasing adoption of autonomous vehicles are expected to drive further market expansion.
What is Internet of Things in Automotive Market Regional Insight?
Regionally, Europe led the IoT in the automotive market in 2023, followed by North America, Asia-Pacific, South America, the Middle East, and Africa. The Asia-Pacific region is anticipated to experience substantial growth during the forecast period, driven by rapidly growing economies, technological advancements in the automotive sector, and government initiatives for smart traffic management. North America holds a significant market share due to its high awareness and purchasing power for new technologies, along with robust R&D activities in the automotive IoT space.
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Segmentation Analysis of the Internet of Things in Automotive Market
by Application
Infotainment
Navigation
Telematics
by Connectivity Type
Embedded
Tethered
Integrated
by Communication Type
In-vehicle
vehicle to vehicle
vehicle to infrastructure
by Offering
Hardware
Service
Who is the largest manufacturers of Internet of Things in Automotive Market worldwide?
1. Qualcomm (US)
2. Intel Corporation (US)
3. NVIDIA. (US)
4. Texas Instruments Inc (US)
5. Aeris Communications, Inc. (US)
6. Amazon Web Services, Inc. (US)
7. Avnet, Inc. (US)
8. Zoho Corporation- WebNMS (US)
9. IBM Corporation (US)
10.Cisco Systems Inc (US)
11.AT&T Inc (US)
12.Microsoft (US)
13.Apple (US)
14.Google Inc (US)
15.Moj.io, Inc. (Canada)
16.Vodafone Group Plc (UK)
17.AppyParking (UK)
18.NXP Semiconductors N.V. (Netherlands)
19.Audi Ag (Germany)
20.CarIQ (India)
21.Evoke Motorcycles (Hong Kong)
22.Advantech Co., Ltd (Taiwan)
23.LG CNS (South Korea)
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Key Offerings:
• Past Market Size and Competitive Landscape
• Internet of Things in Automotive Market Size, Share, Size & Forecast by different segment
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Internet of Things in Automotive Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
•
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