The IoT in Automotive is expected to experience a significant growth rate of 22.6% from 2023-2032 owing to the demand for IoT in automobiles, particularly for connected vehicles. - Allied Market Research
The demand for IoT in automobiles is increasing, particularly for connected vehicles. The market is expected to grow due to government initiatives aimed at developing smart cities. The utilization of IoT for traffic management is also projected to increase. Governments and authorities in various regions are consistently providing funding to boost the demand for autonomous vehicles. There is a growing demand for infotainment features in vehicles. Safety solutions for automobiles are also in high demand as they enhance driver safety. All these factors serve as driving forces for market growth.
Moreover, despite predictions of a major shift away from traditional car ownership, shared mobility's impact on the automotive industry has not yet resulted in the widespread abandonment of personal vehicle ownership. Initially, there were expectations that alternative transportation options would replace conventional models, particularly in densely populated urban areas. However, various offerings, including micro-mobility solutions such as scooters and vehicle-sharing services such as BMW's DriveNow, have emerged and faded over time. Nevertheless, the convergence of AI, autonomous vehicles, IoT app development, and IoT in automotive holds the potential to drive substantial transformation in this realm in the future.
For instance, services such as Uber and Lyft have gained significant popularity and disrupted traditional transportation models in many cities worldwide. They provide an alternative to car ownership by offering convenient and affordable on-demand transportation options. Many people now rely on ride-hailing services for their daily commuting needs, reducing the need for personal vehicle ownership.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the iot in automotive market analysis from 2022 to 2032 to identify the prevailing iot in automotive market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the iot in automotive market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global iot in automotive market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Communication
- Vehicle to Vehicle
- In vehicle communication
- Vehicle to infrastructure
By Application
- Navigation
- Infotainment
- Telematics
- Others
By Connectivity
- Embedded
- Tethered
- Integrated
By Region
- North America
- Europe
- UK
- Germany
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Intel Corporation
- Robert Bosch GmbH
- Cisco System, Inc.
- Thales
- Microsoft Corporation
- Alphabet Inc.
- AT&T
- NXP Semiconductors
- Texas Instruments Inc.
- TomTom International BV