Press release
Internet of Vehicles Market to Reach USD 311.00 Billion by 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
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Market Statistics
• Forecast value (2028): USD 311.00 billion
• CAGR: 20.6%
• Forecast period: 2022-2028
• Base year: 2021
• Total number of segments: 3
• Tables & figures: 100+
• Country-Level Market Assessment: 20
MARKET SEGMENTATION
By Component (Hardware, Software, Services)
By Communication Type (Vehicle-to-Vehicle, Vehicle-to-infrastructure)
By Region (North America, Europe, Asia-Pacific, Rest of the World)
SEGMENT ANALYSIS
The software segment is the dominant category within the component segmentation of the Internet of Vehicles market due to its critical role in enabling interoperability between heterogeneous automotive systems and processing real-time data streams. Increasing adoption of connected vehicles and advancements in high-speed networking are accelerating software deployment across vehicle platforms. This strengthens ecosystem integration, and automotive OEMs expanding digital service offerings can enhance long-term customer engagement and recurring revenue opportunities.
Within communication type, vehicle-to-vehicle communication is identified as the fastest-growing segment, driven by its ability to deliver real-time safety alerts and eliminate limitations associated with traditional sensor-based systems such as radar and ultrasound. It enables direct data exchange including speed, position, and braking status, improving accident prevention and traffic coordination. Automotive technology providers investing in V2V capabilities can position themselves strongly in the evolving autonomous and safety-driven mobility ecosystem.
REGIONAL INSIGHTS
North America is the dominant region in the Internet of Vehicles market due to the strong presence of major automotive manufacturers and advanced telematics adoption across vehicles. Companies such as General Motors and Ford are actively integrating connectivity solutions, which supports large-scale commercialization of IoV technologies. The region's established digital infrastructure and early adoption of connected mobility platforms continue to reinforce its leadership position, creating strong opportunities for technology providers and automotive software vendors.
MARKET DRIVERS
• Rising demand for safer and more efficient driving experiences is accelerating adoption of connected vehicle technologies across global automotive ecosystems
• Government mandates such as eCall in Europe and AIS-140 in India are driving large-scale deployment of connected mobility infrastructure
• Expansion of 5G networks is enabling low-latency, high-speed vehicle communication essential for real-time applications
• Increasing investments in autonomous vehicle testing are boosting demand for advanced vehicle-to-vehicle and vehicle-to-infrastructure systems
• Growing integration of infotainment, telematics, and real-time tracking systems is enhancing consumer and fleet-level connectivity adoption
COMPETITIVE LANDSCAPE
Top Companies in the Market
Google LLC (US)
IBM (US)
NXP Semiconductor (Netherlands)
Intel Corporation (US)
Apple Inc. (US)
Cisco Systems Inc (US)
Volkswagen (Germany)
Ford Motor Company (US)
Cloud Your Car (US)
Veniam (US)
FAQs
1. Why are automakers increasing investment in Internet of Vehicles platforms right now?
Automakers are investing heavily due to rising demand for connected mobility, regulatory pressure for safety systems, and the shift toward software-defined vehicles that generate recurring digital revenue streams.
2. Which component segment is getting the highest enterprise spending in IoV deployments?
Software is attracting the highest spending because it enables real-time data processing, system interoperability, cybersecurity, and integration of cloud-based vehicle services.
3. How is 5G infrastructure changing IoV deployment strategies for OEMs and suppliers?
5G enables ultra-low latency communication, allowing OEMs and suppliers to shift toward cloud-based vehicle architectures and support advanced autonomous and safety applications.
4. What role do government regulations play in scaling connected vehicle ecosystems?
Regulations such as eCall and AIS-140 are forcing mandatory adoption of connectivity systems, significantly accelerating large-scale IoV deployment across public and private transport networks.
5. Why is vehicle-to-vehicle communication becoming a priority for automotive technology developers?
V2V communication enhances real-time safety alerts and overcomes limitations of sensor-based systems, making it essential for autonomous driving and advanced driver assistance systems.
Related links :
1. Drone simulator market : https://www.friend007.com/read-blog/317780
2. Ductile iron pipes market: https://researchnews08.blogspot.com/2026/05/ductile-iron-pipes-market-forecast.html
3. Fiber Reinforced Plastic Bridge Market : https://vintfint.com/blogs/189054/Global-Fiber-Reinforced-Plastic-Bridge-Market-Share-Analysis-and-Competitive
4. Flexible foam market : https://ivebo.co.uk/read-blog/322941
5. Flexographic printing machine market : https://sway.cloud.microsoft/MlWhPUiCicCjXVwC
6. Gas fire pits market : https://social.ghame.org/read-blog/55070_gas-fire-pits-industry-outlook-consumer-demand-innovation-and-lifestyle-trends.html
7. Gelcoat market : https://zeustrahub.osloop.com/read-blog/94522
8. Glycol ethers market : https://note.com/researchnews_07/n/n11ae57ea48c3?app_launch=false
9. Heating and cooling market : https://plaza.rakuten.co.jp/researchnews08/diary/202605200000/
10. High-voltage multilayer ceramic capacitor market : https://www.tumblr.com/researchnews09/817123374061977600/high-voltage-multilayer-ceramic-capacitors-market
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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