Global IoT in Automobile Market, By Offering (Hardware, Software and Services), Connectivity Form Factor (Tethered Connectivity, Integrated Connectivity and Embedded Networks), Communication Type (In-Vehicle Communication, Vehicle-to-Vehicle Communication and Vehicle-to-Infrastructure Communication), Application (Infotainment, Telematics, Navigation, Fleet Management, Predictive Maintenance, Vehicle Security, Automatic Driver Assistance System, Traffic Management and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of IoT in Automobile Market
Data Bridge Market Research analyses that the IoT in automobile market will exhibit a CAGR of 22.10% for the forecast period of 2021-2028. Rising demand and application of connected technology in the vehicles, rising demand for infotainment and real time vehicle tracking system and increased adoption of advanced technological solutions such as artificial intelligence and machine learning by the automotive industry are the major factors attributable to the growth of IoT in automobile market.
IoT in automotive is nothing but the incorporation of internet of things technology in the vehicles which results in creating the vehicle more smart, efficient, comfortable and intelligent. The internet of things technology interrelate the mechanical and digital devices and helps in providing real time data and information about the vehicle users. The incorporation of internet of things in technology in the automobiles has brought about a revolution in the automobile sector.
Rising expenditure for research and development activities by the automobile manufacturers on IoT in automobile is generating lucrative market growth opportunities for the market. Rising incidences of traffic alerts and incident alerts will further induce growth in the IoT in automobile market. Increased government support and spending on next generation vehicle-to-vehicle and vehicle-to-infrastructure communication technologies will further generate lucrative and remunerative market growth opportunities. Rise in the personal disposable income is another indirect market growth determinant.
However, high costs associated with the installation of this technology will pose a major challenge to the growth of IoT in automobile market. Insufficient internet connectivity coverage will also derail the market growth rate.
This IoT in automobile market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on IoT in automobile market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global IoT in Automobile Market Scope and Market Size
The IoT in automobile market is segmented on the basis of offering, connectivity form factor, communication type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of offering, the IoT in automobile market is segmented into hardware, software and services.
- On the basis of connectivity form factor, the IoT in automobile market is segmented into tethered connectivity, integrated connectivity and embedded networks.
- On the basis of communication type, the IoT in automobile market is segmented into in-vehicle communication, vehicle-to-vehicle communication and vehicle-to-infrastructure communication.
- On the basis of application, the IoT in automobile market is segmented into infotainment, telematics, navigation, fleet management, predictive maintenance, vehicle security, automatic driver assistance system, traffic management and others.
Global IoT in Automobile Market Country Level Analysis
The IoT in automobile market is analysed and market size, volume information is provided by country, offering, connectivity, form factor, communication type and application as referenced above.
The countries covered in the IoT in automobile market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America holds a prominent share in the global IoT in automobile market owing to the earliest adoption of connected technology in the automobiles. Also, the dominance is a result of prevalence of major key players spread across countries in this region. USA and Canada have emerged to be the major contributors owing to the increased focus of the companies on innovations obtained from research and development and technological up gradations. Asia-Pacific on the other hand is projected to score the highest CAGR for the forecast period owing to increased personal disposable income coupled with the overall growth and expansion of automotive industry in this region.
The country section of the IoT in automobile market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and IoT in Automobile Market Share Analysis
The IoT in automobile market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to IoT in automobile market.
The major players covered in the IoT in automobile market report are Texas Instruments Incorporated., NXP Semiconductors., Microsoft, Intel Corporation, IBM, TomTom International BV., Cisco Systems, Inc., Google LLC, AT&T Intellectual Property., Apple Inc., Robert Bosch GmbH, Thales Group, Vodafone Limited., General Motors, AUDI AG., Ford Motor Company, Huawei Technologies Co., Ltd., Qualcomm Technologies, Inc., Oracle and ABB among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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