IoT in Automotive Market Size, Share 2024, Impressive Industry Growth Report 2031

The Global IoT in Automotive Market is estimated to grow at a CAGR of 26.5% during the forecast period. The phrase "automotive IoT" refers to the integration of Internet of Things (IoT) technologies into automotive systems, in order to develop new applications and solutions that can make vehicles smarter and more intelligent, allowing for safer, more efficient, and more comfortable driving. One of the reasons, why the automotive industry has been unable to break its annual production and sales records is the lack of unique features in automobiles. In today's market, purchasers look for a vehicle with more than four tyres and a steering wheel. They look for a futuristic mode of communication and connection. The Internet of Things (IoT) has opened up new possibilities for carmakers and buyers all over the world. IoT has become a hotspot for a number of multi-purpose applications in the automotive industry, with uses in both the industrial and commercial sectors.

Get Free Sample link @ https://www.omrglobal.com/request-sample/iot-in-automotive-market

Vehicle-to-vehicle communication allows a vehicle to communicate its location, speed, steering wheel position, brake status, and other information to other cars. The elements driving the vehicle-to-vehicle communication market include the implementation of safety and security, forward hazard warning, curve speed warning, and overtake vehicle warning. The market for vehicle-to-vehicle communication is being driven by the limitations of existing deployed systems that employ radar or ultrasound to detect few car lengths and are unable to pass nearby impediments.

For Instance, in July 2016, Intel (US), BMW (Germany), and Mobileye (Israel) teamed up to develop solutions for highly extensive automated driving into series production by 2021. Moreover, in October 2015, Texas Instruments announced that its MCU easily connects IoT endpoints to the Amazon Web Services (AWS) cloud for remote management and data analysis.

Full report of IoT in Automotive Market available @ https://www.omrglobal.com/industry-reports/iot-in-automotive-market

Market Coverage

Segment Covered-
o By Offering

o By Connectivity Form Factor

o By Communication type

o By Application

Regions Covered
o North America

o Europe

o Asia-Pacific

o Rest of the world

Competitive Landscape: Texas Instruments, Intel, NXP Semiconductors, TOMTOM, IBM among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominates the market in base year?
Which segment and region will project fastest growth in the market?
How COVID-19 impacted the market?
o Recovery Timeline

o Deviation from pre-COVID forecast

o Most affected region and segment

Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global IoT in Automotive Market Segmentation,

By Offering:

Hardware
Software
Services

By Connectivity Form Factor:

Embedded
Tethered
Integrated

By Communication Type:

In-Vehicle Communication
Vehicle-to-Vehicle Communication
Vehicle-to-Infrastructure Communication

By Application:

Infotainment
Navigation
Telematics


Reasons to Buying From us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/iot-in-automotive-market

Media Contact:

Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

This release was published on openPR.