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According to estimates, the worldwide Automotive IoT Market will generate USD 131.20 billion in revenue in 2023 and is expected to reach USD 322.10 billion by 2030, rising at a CAGR of 20.7% between 2023 and 2030. An analysis of the market's industry trends makes up the new research study.
Automotive IoT is the integration of various parts into vehicles, including devices, sensors, cloud computing, and applications. This results in a sophisticated system that connects cars and makes it possible for features like fleet management, insurance services, predictive maintenance, and OEM collaboration. The adoption of the Internet of Things in the automotive industry gives manufacturers the ability to introduce highly anticipated breakthroughs, moving automobiles closer to the domain of artificial intelligence. We may anticipate much more complex innovations to appear as embedded vehicle IoT solutions develop. Automotive manufacturers can continually offer their clients new, innovative services because to the rapid advancements in linked car technology and mobile communication speed.
The Internet of Things has its most visible and well-known use in the linked automobile. However, as today's cars become more and more software-driven, the actual IoT development in the automotive industry is happening behind the scenes, as both software developers and automakers vie for control. The Internet of Things (IoT) is a framework of mechanical and digital objects that are autonomously transmitting data. Additionally, the introduction of the automotive IoT market promotes the demand for automated devices that assist in the analysis of real-time data on drivers and fleet operators. It also has a connection to the internet of smart vehicles, which allows for three different kinds of communications: in-vehicle, vehicle-to-vehicle, and vehicle-to-infrastructure. The car has been connected in ways for years that now appear to be regular. Undoubtedly, automakers have started connecting vehicles to data streams. And the automobile industry has a richer and longer track record of success than any other industry when it comes to bridging technology and drivers.
The key option for alternative technologies of powering engines that do not need petroleum is non-fossil-fuelled motor vehicles including electric, hybrid, and solar-powered automobiles. As the number of electric and hybrid vehicles rises, customers will benefit from lower fuel prices, less air pollution due to a drop in greenhouse gas emissions, better air quality in cities, and a decrease in their reliance on fossil fuels.
For linked cars to operate smoothly, telematics technology, sensor-equipped fleets, and high-speed connectivity are essential. Telematics hardware, sensors, and software are used to capture data for applications like geo-fencing and real-time monitoring. For connected automobiles, highway data such as lane changes, object recognition, vehicle distances, and traffic conditions, as well as services like navigation and networking, are crucial. Due to the poor network connectivity on highways, however, automobiles are not connected to one another or the cloud. The growth of IT infrastructure on highways is slower in developing nations like Mexico, Brazil, and India than it is in wealthy nations. Only urban and semi-urban areas have the 3G and 4G-LTE communication networks needed for connectivity. There are a lot of third-party logistics businesses operating in semi-urban and rural locations, but connectivity is a problem. As a result, the connected automobile market may not expand as quickly in emerging regions due to a lack of IT and communication infrastructure.
The adoption of smart vehicles and the rising demand for connected automobiles are two aspects that are driving the IoT in automotive market outlook. In order to create a more connected driving experience, consumers increasingly demand their cars to seamlessly interact with their smartphones, offer cutting-edge entertainment systems, and provide navigation services. However, security and data privacy concerns may hamper the market's development. All of the data is uploaded to servers as vehicles become digitalized through the internet. These essential details cover travel habits, statistics, places, and much more. Due to lax security, server-based data can be breached, and hackers can seize control of a vehicle and cause issues for the end user. Additionally, continuous IoT technology developments like 5G connection and edge computing greatly contribute to the expansion of linked automobile solutions. These developments enable quicker and more dependable connectivity, allowing the creation of cutting-edge IoT applications for automobiles. Additionally, the Internet of Things (IoT) industry accounts for about 9.6% of the IoT market share in the automobile sector.
New business models and sources of income are also produced by the IoT in the car industry. To diversify their services and boost revenue, IoT in automotive manufacturers and service providers should look into monetizing data, provide subscription-based services, and cooperate with other companies. The automobile sector is becoming more influenced by environmental issues, and IoT is essential for allowing energy-efficient and sustainable transportation solutions. IoT technology is becoming more important in attaining these aims as the business shifts toward environmentally friendly solutions.
Report Coverage
Global Automotive IoT research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive IoT report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive IoT competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive IoT market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive IoT market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive IoT market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
NXP Semiconductors (Netherlands), Harman (US), Robert Bosch (Germany), Thales (France), TomTom International (Netherlands), IBM (US), Geotab Inc. (Canada), Texas Instruments (US), Intel Corp. (US), Eurotech (Italy), STMicroelectronics (Switzerland), Renesas (Japan), Infineon Technologies (Germany). Apart from this, Airbiquity (US), Qualcomm (US), Visteon (US), Vodafone Group (UK), Microsoft Corporation (US), Alphabet Inc. (US), AT&T (US), Cloudmade (UK), Sierra Wireless (Canada), Verizon Communications, Inc. (US), Telefonica SA (Spain), Mitsubishi Electric Corp. (Japan), Tech Mahindra Ltd. (India), Desay SV HV Automotive (China), Valeo (France), Aptiv Plc (Ireland), Intellias (Ukraine)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive IoT market based on the below-mentioned segments:
Global Automotive IoT Market, By Communication
Vehicle to Vehicle
In vehicle communication
Vehicle to infrastructure
Global Automotive IoT market, By Application
Navigation
Infotainment
Telematics
Others
Global Automotive IoT Market, By Connectivity
Embedded
Tethered
Integrated
Global Automotive IoT market, Regional Analysis
Automotive IoT is the integration of various parts into vehicles, including devices, sensors, cloud computing, and applications. This results in a sophisticated system that connects cars and makes it possible for features like fleet management, insurance services, predictive maintenance, and OEM collaboration. The adoption of the Internet of Things in the automotive industry gives manufacturers the ability to introduce highly anticipated breakthroughs, moving automobiles closer to the domain of artificial intelligence. We may anticipate much more complex innovations to appear as embedded vehicle IoT solutions develop. Automotive manufacturers can continually offer their clients new, innovative services because to the rapid advancements in linked car technology and mobile communication speed.
The Internet of Things has its most visible and well-known use in the linked automobile. However, as today's cars become more and more software-driven, the actual IoT development in the automotive industry is happening behind the scenes, as both software developers and automakers vie for control. The Internet of Things (IoT) is a framework of mechanical and digital objects that are autonomously transmitting data. Additionally, the introduction of the automotive IoT market promotes the demand for automated devices that assist in the analysis of real-time data on drivers and fleet operators. It also has a connection to the internet of smart vehicles, which allows for three different kinds of communications: in-vehicle, vehicle-to-vehicle, and vehicle-to-infrastructure. The car has been connected in ways for years that now appear to be regular. Undoubtedly, automakers have started connecting vehicles to data streams. And the automobile industry has a richer and longer track record of success than any other industry when it comes to bridging technology and drivers.
The key option for alternative technologies of powering engines that do not need petroleum is non-fossil-fuelled motor vehicles including electric, hybrid, and solar-powered automobiles. As the number of electric and hybrid vehicles rises, customers will benefit from lower fuel prices, less air pollution due to a drop in greenhouse gas emissions, better air quality in cities, and a decrease in their reliance on fossil fuels.
For linked cars to operate smoothly, telematics technology, sensor-equipped fleets, and high-speed connectivity are essential. Telematics hardware, sensors, and software are used to capture data for applications like geo-fencing and real-time monitoring. For connected automobiles, highway data such as lane changes, object recognition, vehicle distances, and traffic conditions, as well as services like navigation and networking, are crucial. Due to the poor network connectivity on highways, however, automobiles are not connected to one another or the cloud. The growth of IT infrastructure on highways is slower in developing nations like Mexico, Brazil, and India than it is in wealthy nations. Only urban and semi-urban areas have the 3G and 4G-LTE communication networks needed for connectivity. There are a lot of third-party logistics businesses operating in semi-urban and rural locations, but connectivity is a problem. As a result, the connected automobile market may not expand as quickly in emerging regions due to a lack of IT and communication infrastructure.
The adoption of smart vehicles and the rising demand for connected automobiles are two aspects that are driving the IoT in automotive market outlook. In order to create a more connected driving experience, consumers increasingly demand their cars to seamlessly interact with their smartphones, offer cutting-edge entertainment systems, and provide navigation services. However, security and data privacy concerns may hamper the market's development. All of the data is uploaded to servers as vehicles become digitalized through the internet. These essential details cover travel habits, statistics, places, and much more. Due to lax security, server-based data can be breached, and hackers can seize control of a vehicle and cause issues for the end user. Additionally, continuous IoT technology developments like 5G connection and edge computing greatly contribute to the expansion of linked automobile solutions. These developments enable quicker and more dependable connectivity, allowing the creation of cutting-edge IoT applications for automobiles. Additionally, the Internet of Things (IoT) industry accounts for about 9.6% of the IoT market share in the automobile sector.
New business models and sources of income are also produced by the IoT in the car industry. To diversify their services and boost revenue, IoT in automotive manufacturers and service providers should look into monetizing data, provide subscription-based services, and cooperate with other companies. The automobile sector is becoming more influenced by environmental issues, and IoT is essential for allowing energy-efficient and sustainable transportation solutions. IoT technology is becoming more important in attaining these aims as the business shifts toward environmentally friendly solutions.
Report Coverage
Global Automotive IoT research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Automotive IoT report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Automotive IoT competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Automotive IoT market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | NXP Semiconductors (Netherlands), Harman (US), Robert Bosch (Germany), Thales (France), TomTom International (Netherlands), IBM (US), Geotab Inc. (Canada), Texas Instruments (US), Intel Corp. (US), Eurotech (Italy), STMicroelectronics (Switzerland), Renesas (Japan), Infineon Technologies (Germany). Apart from this, Airbiquity (US), Qualcomm (US), Visteon (US), Vodafone Group (UK), Microsoft Corporation (US), Alphabet Inc. (US), AT&T (US), Cloudmade (UK), Sierra Wireless (Canada), Verizon Communications, Inc. (US), Telefonica SA (Spain), Mitsubishi Electric Corp. (Japan), Tech Mahindra Ltd. (India), Desay SV HV Automotive (China), Valeo (France), Aptiv Plc (Ireland), Intellias (Ukraine) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Automotive IoT Market from 2021 to 2030.
- Market Forecast for Automotive IoT Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Automotive IoT competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Automotive IoT
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Automotive IoT market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Automotive IoT market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
NXP Semiconductors (Netherlands), Harman (US), Robert Bosch (Germany), Thales (France), TomTom International (Netherlands), IBM (US), Geotab Inc. (Canada), Texas Instruments (US), Intel Corp. (US), Eurotech (Italy), STMicroelectronics (Switzerland), Renesas (Japan), Infineon Technologies (Germany). Apart from this, Airbiquity (US), Qualcomm (US), Visteon (US), Vodafone Group (UK), Microsoft Corporation (US), Alphabet Inc. (US), AT&T (US), Cloudmade (UK), Sierra Wireless (Canada), Verizon Communications, Inc. (US), Telefonica SA (Spain), Mitsubishi Electric Corp. (Japan), Tech Mahindra Ltd. (India), Desay SV HV Automotive (China), Valeo (France), Aptiv Plc (Ireland), Intellias (Ukraine)
Primary Target Market
- Market Players of Automotive IoT
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Automotive IoT market based on the below-mentioned segments:
Global Automotive IoT Market, By Communication
Vehicle to Vehicle
In vehicle communication
Vehicle to infrastructure
Global Automotive IoT market, By Application
Navigation
Infotainment
Telematics
Others
Global Automotive IoT Market, By Connectivity
Embedded
Tethered
Integrated
Global Automotive IoT market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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