Global IoT in Automotive Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 24 % during the forecast period.
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Global IoT in Automotive Market Overview:
In the concept of IoT (Internet of Things) the instance of connected automotive is the most common and popular worldwide. Since past few years, automobiles have become extensively software-driven, among which the term IoT plays vital role. The Internet of Things (IoT) is a basis of interconnected computing devices, which supports the digital & mechanical devices along with the autonomy in data transfer. The introductions of IoT in automotive market supplement the need for automated gadgets that offers benefits like, analysing real-time data of vehicles on road and fleet operators. Further, it is integrated with internet of smart automotive that allows diverse communication types such as, in-vehicle, vehicle-to-vehicle, and vehicle-to-infrastructure. Large base of players in automotive sector have started interlinking cars to data streams. But the relation between automotive technology and drivers is the example of most definite, productive and extended record of success & best management than any other industry.
The report presents the analysis of Global IoT in Automotive Market with regards to different segments, geography and role of several small & large companies in the market. At the same time the report study has also analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global IoT in Automotive Market Dynamics:
The growing focus and investments from the worldwide automobile manufacturers is boosting the development in the sector and opening doors for launch of advanced vehicles embedded with latest technology. The facilities like real-time incident, location mapping, other error detection & alarming and traffic alerts fuel the demand for latest technology like IoT in automotive world-wide. The upsurge in R&D expenses and concern for safety and other regulations from government on every vehicle manufactured is driving the growth in global market. In addition, extended version of vehicle-to-vehicle as well as vehicle-to-infrastructure communication technologies will drive the development in sector. This anticipates the automotive IoT market to witness a noteworthy growth in the forecasted years. Rising use of smart phones and other smart gadgets is estimated to bring the exponential demand and rapid adoption of automotive integrated with IoT. Conversely, lack of coverage and uneven connectivity in cellular or smart devices are likely to hamper the market growth in forecasted period. In addition, the high cost involved in the manufacturing, instalment and maintenance will affect the market adversely and the major challenges for market players to overcome. Another essential part responsible for boosting market demand is growing attraction towards latest technology embedded automotive and rise in per capita income of large amount of population around globe.
Global IoT in Automotive Market Regional Analysis:
In 2019, North America stood as the leading region with US$ XX Bn. The region is expected to reach US$ XX Bn by 2027 growing with CAGR XX% during forecast period. The growth in this region is mainly contributed from the emerged economy of the Canada and the U.S. as R&D units of various major companies are existed in these countries. Besides, The North America market is anticipated to be the leading region as its population has high awareness levels and buying capacity for the new technology. Europe is also estimated to grow at accelerated CAGR of XX% during forecast period owing to the attraction of people for luxury and advanced vehicles. Similarly, the report covers the detail analysis of all the regions such as, Asia Pacific, Latin America, and Middle East & Africa. Their growth rate and the reason for growth along with the expected value to be reached by end of the 2027 are mentioned in the final report.
Objective of the Global IoT in Automotive Market:
The objective of the report is to present a comprehensive analysis of the Global IoT in Automotive Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global IoT in Automotive Market dynamics, structure by analyzing the market segments and projects the Global IoT in Automotive Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global IoT in Automotive Market make the report investor’s guide.
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Global IoT in Automotive Market, By Connectivity Form Factor
• Tethered
• Integrated
• Embedded
Global IoT in Automotive Market, By Component
• Hardware
• Software
• Services
Global IoT in Automotive Market, By Application
• Navigation
• Telematics
• Infotainment
Global IoT in Automotive Market, By Communication Type
• Vehicle-to-Vehicle Communication
• In-vehicle Communication
• Vehicle-to-Infrastructure Communication
Global IoT in Automotive Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global IoT in Automotive Market
• Texas Instruments Inc.,
• General Motors,
• Ford Motor Company,
• Apple Inc.,
• Cisco Systems Inc.,
• Intel Corporation,
• IBM Corporation,
• Google Inc.,
• Microsoft Corporation,
• Vodafone Group,
• Audi AG,
• Robert Bosch GmbH
• NXP Semiconductors
• TOMTOM
• Thales SA
• AT&T
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