Global IoT in Automotive Market: Overview
Global IoT in Automotive market is expected to grow with a growth rate over 28% during the forecast period due to its benefits like updating real-time traffic and incident alerts that help people in saving time and responding to critical situation intelligently. In the automotive industry, IoT has allowed greater transportation efficiency and management capabilities. The market is majorly accelerated by increasing need for time saving and maximizing productivity at the fast-paced world. Further, the presence of high-speed mobile networks will promote IoT growth, enhancing response times and vehicular communication.
Global IoT in Automotive Market: Scope of the Report
On the basis of the product, the IoT in Automotive market offering segment the market is categories as hardware, software, and service. Based on the connectivity form factors segment the market is segmented as embedded, tethered and integrated. Communication type In-vehicle, vehicle-to-vehicle and vehicle-to- infrastructure market is segmented by private charging station and OE Charging Station. By application, the market is segmented as Navigation, Telematics, and Infotainment. Finally, the report covers the analysis of these segments across North America, Europe, Asia Pacific, Middle East & Africa and Latin America along with the qualitative analysis for market estimates that boosts the growth of the global IoT in Automotive market during the forecast period.
The report also highlights the competitive landscape of the global IoT in Automotive market that includes the company overview, products & offerings, strategic decisions taken by the company, launch of new products, technology landscape, and financial highlights.
Global IoT in Automotive Market: Key Offering Analysis
IoT in Automotive is segmented, which includes hardware, Software, Service
Hardware is a combination of network
persistence, embedded technologies, and cloud that allows physically connected
computing systems to deliver innovative new services. Therefore, the IoT
employs technologies to enable automotive interactivity and automation. By
adding hardware accessories to the automotive vehicle, one can go beyond basic
GPS tracking and bring lots of value, at very little upfront set-up time.
Software in self-driving cars will be 90% will
be a mix of apps, software platform, and AI, whereas hardware is 10% of the IoT
Global IoT in Automotive Market: Connecting Form Factor Analysis
Embedded automotive utilize a built-in antenna
and set of electronic components, while tethered automotive use hardware to
enable drivers to interface with their cars by means of their cell phones.
Moreover, app integration is becoming commonplace in recent vehicles. Google
Maps and other route devices have started to supplement work in GPS frameworks.
Integrated vehicles enhance connectivity and the
vehicle is increasingly integrated into a broader ecosystem of other devices
and infrastructure, capabilities like smart traffic routing of self-driving
vehicles, designed to improve roadway efficiency which will increase the demand
for the segment.
Global IoT in Automotive Market: Communication Type Analysis
In-vehicle wireless connectivity makes creates
classy infotainment systems, heads-up displays, application processors,
graphics accelerators, and vehicle-to-vehicle communications, as well as
enhance fuel efficiency.
Vehicle-to-Vehicle help to prevent accidents by
allowing vehicles in transit to send position and speed data to one another
over an ad hoc mesh network.
Global IoT in Automotive Market: Application Analysis
Navigation– IoT will enhance an automotive
navigation system to find direction in an automobile. It typically uses a
satellite navigation device to get its position data, strategically calculates
the shortest path and best meets the drives requirement.
Infotainment- The Infotainment systems combine
entertainment and information delivery which has become a new focus area of
customers, implementation of IoT in infotainment will enhance entertainment
features in the vehicle.
Global IoT in Automotive Market: Competitive Dynamics
The global IoT in Automotive market is dominated by a number of players, amongst them, the major players are Texas Instruments Inc, Intel Corporation, GENERAL MOTORS, FORD MOTOR COMPANY, etc. Companies in this industry are highly investing in research and development to implement better technology, which is intensifying the rivalry among manufacturers making it difficult for new entrance.