Automotive IOT Market Expansion Continues, with Forecast Valuation of $294.4 Billion by 2029

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Automotive IOT Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the automotive IoT market has seen a substantial increase in recent times. The market is expected to rise from $157.1 billion in 2024 to around $176.66 billion in 2025, demonstrating a Compound Annual Growth Rate (CAGR) of 12.5%. The substantial development seen during the historic period can be linked to advancements in connected car technologies, vehicle-to-everything (v2x) communication, and advanced driver assistance systems (ADAS); increased usage of telematics; and improved safety and security features.

Automotive IOT Market Size Forecast: What's the Projected Valuation by 2029?
In the forthcoming years, the automotive IoT market is anticipated to witness considerable expansion, elevating to a worth of $294.4 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 13.6%. The predicted growth during the forecast period can be linked to factors such as the introduction of 5G connectivity in vehicles, the application of edge computing in automotive IoT, incorporation of artificial intelligence in automotive, the emergence of autonomous vehicles and predictive maintenance solutions. Noteworthy trends in this forecast period will include the evolution of in-car entertainment systems, the rise of smart parking solutions, enhanced fleet management optimization, the incorporation of blockchain technology in automotive IoT, and advanced vehicle health monitoring.

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What Are the Drivers Transforming the Automotive IOT Market?
The rise in demand for self-operating vehicles is predicted to boost the expansion of the automotive IoT market. Autonomous vehicles, which are self-driving vehicles equipped with several technologies to function independently, are empowered by the Internet of Things to wirelessly connect to a cloud system through multiple devices. This enhances vehicle-to-vehicle interaction, consequently leading to an uplifted demand for autonomous vehicles and the automotive IoT market. For instance, the National Highway Traffic Safety Administration (NHTSA), a government agency in the U.S., anticipated that around 3.5 million autonomous vehicles would be on U.S. roads by 2025, projecting this number to increase to 4.5 million by 2030. Therefore, the escalating demand for autonomous vehicles is instrumental in driving the growth of the automotive IoT market.

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What Long-Term Trends Will Define the Future of the Automotive IOT Market?
The rising trend of applying predictive diagnostics solutions in the automotive IoT market is proving to be highly advantageous. Collaborations are increasing between automotive firms and tech companies to incorporate these solutions into already available modes, minimizing upkeep intervals and preventing untimely reactive maintenance without bearing charges for overdoing standard maintenance. The in-car predictive maintenance systems continually oversee, amass, log, transmit, and examine data from vehicular sensors to maintain an ongoing log of various vehicle operations. For instance, Ashok Leyland, an automotive manufacturer from India, teamed up with Syncron, a post-sales service firm based in Sweden, in February 2022. Their partnership aims to incorporate predictive vehicle maintenance solutions into Ashok Leyland Condition Monitoring Systems (CMS).

Which Segments in the Automotive IOT Market Offer the Most Profit Potential?
The automotive iotmarket covered in this report 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

Subsegments:
1) By Hardware: IoT Sensors, Connectivity Devices, On-Board Units (OBUs), Vehicle Telematics Devices
2) By Software: Fleet Management Software, Vehicle Tracking Software, Predictive Maintenance Software, Data Analytics Platforms, Vehicle-To-Everything (V2X) Communication Software
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Cloud Services, Data Management Services

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Which Firms Dominate the Automotive IOT Market by Market Share and Revenue in 2025?
Major companies operating in the automotive iot market include Texas Instruments Incorporated, NXP Semiconductors N. V., Intel Corporation, TomTom N. V., Cisco Systems Inc., Microsoft Corporation, International Business Machines Corporation (IBM), Google LLC, AT&T Inc., Apple Inc., Robert Bosch GmbH, Harman International Industries Inc., Ghost Locomotion Inc., Hologram Inc., Infineon Technologies AG, Octo Group S. p. a., Alibaba Group Holding Limited, Huawei Technologies Co. Ltd., Indeema Software, Digital Management Inc., Orange SA, PixelCrayons, Aeris Communications Inc., KORE Wireless Group Inc., IOTTIVE PVT. LTD., Eurotech S. p. A., STMicroelectronics N. V., Cloudmade Limited, Sierra Wireless Inc., Verizon Communications Inc., Telefónica S. A., Mitsubishi Electric Corporation, Tech Mahindra Ltd.

Which Regions Offer the Highest Growth Potential in the Automotive IOT Market?
North America was the largest region in the automotive IoT market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive IoT market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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