Global Automotive IoT Market Detailed Analytical Overview by 2026

 The Infinium Global Research analyzes the Automotive IoT Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global automotive iot market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of automotive iot. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the automotive iot market during the period. The global automotive IoT market is projected to grow at a CAGR of 24.3% over the forecast period of 2020-2026.

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Self-Driving Cars Provide A Lucrative Growth Opportunity for the Automotive IoT Market

The IoT car with a lot of IoT properties inbuilt is developed that uses data collected by connected cars in many ways. Such as traffic control systems that can provide real-time data collected from connected cars. This helps to avoid traffic jams and accidents. These benefits offered by IoT in the automotive sector is driving the growth of the automotive IoT market. Furthermore, automobile manufacturing companies, telecommunication service providers, and software companies are coming together to build a connected car. A connected car using its onboard sensors and internet connectivity that enhances the in-car experience of its user. Connected cars have the capacity to surf the internet on the move, but the communication between cars, communication of cars with other devices. There are only a small number of cars which are internet-enabled but it is projected that the number will rise considerably in less than a decade’s. Again exposure to smartphones will definitely help the connected cars market to grow exponentially.

Additionally, the problem of emission of gases from vehicles is increasing the pollution levels. American drivers spend on average 17 hours per year looking for parking and results in a collective annual cost of $73 billion in time, fuel, and emissions loss. Incomplete combustion of fuel is one of the main reasons for this high level of emissions. With the use of IoT based system consisting of smoke and temperature sensors, along with GSM and GPS based modules vehicle emissions can be monitored and controlled. Such a system can save the environment by controlling air pollution caused by vehicles. This benefit of emission control is driving the growth of the market.

However, the high cost associated with IoT -enabled automotive is affecting the growth of the market. Moreover, self-driving cars provide a lucrative growth opportunity for the automotive IoT market. An autonomous or self-driving car is a vehicle that is designed to sense its environment and navigate without any human input.

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North America Dominates the Automotive IoT Market

North America dominates the automotive IoT market. The U.S. government introduced legislation that forces vendors to ensure basic security within IoT devices. According to the National Highway Traffic Safety Administration of the U.S. Department of Transportation In 2015, 1.5 million vehicles were recalled for cyber security vulnerabilities. Furthermore, in an effort to reduce the potential for a vehicle crash on America’s roadways, the Department of Transportation issued a Notice of Proposed Rulemaking (NPRM) that would enable V2V communication technology. This again contributing to the growth of the market in the North American region.

Automotive Iot Market: Segmentation

The report on the global automotive IoT market covers segments such as offering, connectivity form factor, communication type, and application. On the basis of offering, the sub-markets include hardware and software. On the basis of connectivity form factor, the sub-markets include embedded, tethered, and integrated. On the basis of communication type, the sub-markets include in-vehicle, vehicle-to-vehicle, and vehicle-to- infrastructure. On the basis of application, the sub-markets include navigation, telematics, and infotainment.

Automotive Iot Market: Competitive Analysis

The report provides profiles of the companies in the market such as Intel Corporation., NXP Semiconductors N.V., Tomtom N.V., International Business Machines Corporation, Microsoft Corporation, Cisco Systems, Inc., AT&T Inc., General Motors, Robert Bosch GmbH, and Google Inc.

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