Growing consumer demand for better software and connectivity features embedded into their infotainment systems will drive the Global IoT in the Automotive market.
Consumers are looking for a better infotainment system in the car, demanding smart apps to enjoy in-car navigation, telematics, and entertainment. IoT helps customers to solve the problems regarding poor fleet management by offering better analytics and control such as fuel consumption, monitoring idling, travel conditions and travel time which is gaining consumer’s interest. Increasing concern towards the safety and security of the passengers and growth in the automobile industry will further promote IoT growth. Further, collaboration and partnership among several industry players in the market and development of 5G technology hold huge opportunity for the growth of the global IoT Automotive market.
According to a new market report published by BlueWeave Consulting, the Global IoT in the Automotive market will expand at a CAGR over 28% from 2018 to 2025. According to the report, North America holds the major market in terms of revenue to the Global IoT in Automotive market in 2017.
Global IoT in Automotive Market: Scope of the Report
The Global IoT in Automotive market is segmented on the basis of offering, connecting form factor, communication type, and application industry. On the basis of the offering, the market is segmented into hardware, software, and Service. Based on the application, the market is segmented into navigation, telematics, and infotainment. The market is further segmented as communication type In-Vehicle, Vehicle-to-Vehicle and Vehicle-to- Infrastructure. By connecting the form factor market is segmented based on embedded, tethered and integrated. On the basis of region, the market is segmented into five parts namely North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
Global IoT in Automotive Market: Competitive Dynamics
Companies such as Texas Instruments Inc., Audi AG, FORD MOTOR COMPANY, APPLE INC., CISCO SYSTEMS INC, etc are the key players in manufacturing IoT in Automotive systems. The companies are highly investing in the deployment of new technology which is intensifying the rivalry among manufacturers.
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Market Segmentation: Global IoT in Automotive Market
By Connecting Form Factor
By Communication Type
- Vehicle-to- Infrastructure
In addition, the report provides analysis of the global IoT in Automotive market with respect to the following geographic segments:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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