A report on the Global IOT in Automotive Market has been published by Contrive Datum Insights. The report provides clients with the latest trending insights into the IOT in Automotive market. It can be seen that the report includes market value and growth rate, size, production consumption and gross margin, pricing and other influencing factors. Along with this, in the report, you will get detailed information about every distributor, supplier, and retailer in the market. The competitive scenarios of all industry players are mentioned in detail in the report. The pandemic has caused market participants to strategically change their business plans.
The Global IoT In Automotive Market size was valued at USD 47.10 Billion in 2020 and is projected to reach USD 289.36 Billion by 2030, growing at a CAGR of 25.5% from 2022 to 2030.
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In recent years, the automotive business has experienced significant technological change. The worldwide Internet of Things (IoT) in the automotive industry is expanding as consumer preferences are changing in favour of seamless connectivity and convenient driving experiences. The Internet of Things (IoT) is a networked, integrated system of computers, machines, people, and other devices that permits data-sharing operations. The need for IoT in the automotive sector is expected to see a sharp increase during the forecast period as the demand for real-time information capture of car users and operators rises.
According to the communication techniques, the IoT in the automotive industry is divided into three categories: in-vehicle communication, V2V (vehicle-to-vehicle) communication, and V2I (vehicle-to-Infrastructure) communication. Future demand for V2I communication is anticipated to increase considerably due to growing concerns about passenger safety. With the aid of cameras, radio waves, light sensors, and other parts/devices, V2I technology enables vehicles to collect data from the surrounding world. Through the use of information collected from the environment, drivers can operate their vehicles more safely and effectively.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as Thales SA, Texas Instruments, TomTom, Cisco, Intel Corporation, NXP Semiconductors, Vodafone, AT&T. Geographically, this market has been segmented into regions such as North America, Latin America, Europe, Asia Pacific and Rest of the World. The study details country-level aspects based on each segment and gives estimates in terms of market size.
Europe dominated the IoT market for automobiles in 2021, with North America, Asia Pacific, South America, the Middle East, and Africa following. However, over the course of the forecast period, the APAC region is anticipated to experience remarkable development. The region’s rapid growth is primarily due to the region’s rapidly expanding economy, expansion of high-speed networks and Internet connectivity, technological advancements in the automotive industry, and government initiatives for smart cities and intelligent traffic management systems.
With emerging countries like Canada and the United States, North America is anticipated to account for the second-largest market share. It is housed in the R&D divisions of different large corporations. Because economic users in North America have a high degree of awareness and purchasing power for new technologies, the region is leading the IoT in the automotive industry.
IOT in Automotive Market Segmentation:
By Type:
Embedded
Tethered
Integrated
Others
By Communication Type:
Vehicle-to-Vehicle Communication
Vehicle-to-Infrastructure Communication
In-Vehicle Communication
By Application:
Infotainment System
Navigation
Telematics
Other
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Related Sources:
IOT in Automotive- https://www.digitaljournal.com/pr/global-iot-in-automotive-market-is-projected-to-reach-usd-289-36-billion-by-2028
IOT in Automotive- https://www.newstrail.com/iot-in-automotive-market-analysis-and-industry-research-report-to-2030/
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