Global Automotive Internet of Things Market Trends, Applications, Analysis, Growth, and Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global automotive internet of things market in its upcoming report titled, “Global Automotive Internet of Things Market Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global automotive internet of things market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018 to 2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive internet of things market has been segmented on the basis of offering, connectivity form factor, communication type, application, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Automotive internet of things, as the name suggests, is integration of internet of things in vehicles, allowing for in-vehicle, vehicle-to-vehicle, and vehicle-to-infrastructure communication. In a vehicle, an internet connection can be active for infotainment, navigation, and telematics applications. Ability to convert technology advances and capabilities into new value, is largely driven by analytics and customization that is a key part of the internet of things value chain. Various application of internet of things in automotive include intelligent transportation systems, self-driving cars, smart fleet management etc. and increasing demand for these has led to growth of the market across the globe.

Growing adoption of internet of things in the automotive industry, owing to increasing deaths due to automotive collisions is a major factor driving growth of the global automotive internet of things market. In addition, rising demand for internet of things in automotive, owing to benefits offered by real-time traffic and incident alerts. Furthermore, increase in telematics mandates by several governments across the globe is another factor expected to fuel growth of the target market over the forecast period. Moreover, growing demand for assisted and automated driving is another factor expected to drive growth of the automotive internet of things market over the forecast period.

However, lack of cellular connectivity coverage is a major factor expected to limit growth of the global automotive internet of things market over the forecast period.

Currently, market in North America accounts for highest market share in the global automotive internet of things market in terms of revenue. This can be attributed to increasing deployment of driverless cars in the region. Moreover, presence of leading companies in this region such as Apple Inc., AT&T Inc., Cisco Systems, Inc. etc. is another factor driving growth of the automotive internet of things market. The market in Asia Pacific is also expected to witness significant growth over the forecast period, owing to increasing consumer spending power and manufacturing of hubs for automotive in the region over the forecast period. Also the market in North America is expected to register a CAGR of X.X% during the forecast period.

Global automotive internet of things market segmentation:

By offering:

• Hardware
• Software
• Services

By connectivity form factor:

• Embedded
• Tethered
• Integrated

By communication type:

• In-Vehicle
• Vehicle-to-Vehicle
• Vehicle-to-Infrastructure

By application:

• Infotainment
• Navigation
• Telematics

 By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa