IoT in Automobile Market 2019 Global Size, Share, Trends, Business Analysis, Segments, Gross Margin Business Strategy, Applications and Growth Prospects to 2023

IoT in Automobile Market 2019 Global Size, Share, Trends, Business Analysis, Segments, Gross Margin  Business Strategy, Applications and Growth Prospects to 2023

“” IoT in Automobile Market “”
IoT in Automobile Market has been valued at USD ~83 billion by 2022 growing with ~27% of CAGR during forecast period 2018 to 2022.

Market Highlights

IoT in Automobile Market Research Report 2018 – Global Industry analysis by Key Companies, Type, Application, Market Share, Growth Rate, and Key Country forecast to 2022. IoT in Automobile Industry depth analysis is done for North America, Europe, APAC and Rest of the World. IoT in Automobile Market growing at rapid pace over the forecast period of 2018 to 2022. The key drivers for the growth of IoT in automobile market are real-time traffic and incident alerts, growing number of telematics mandates by various governments, and the growing demand for assisted & automated driving. The government funding for next generation vehicle-to-vehicle and vehicle-to-infrastructure cars and the high consumer’s demand for smartphone features in cars. However, the concerns over security and privacy are hindering the growth of the IoT in automobile market. 
Geographically, North-America accounted for the largest market share in the global IoT in the automobile market whereas Asia-Pacific region is expected to grow at a fast pace over the forecast period 2016-2022.   

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The automotive industry redefining and reinventing because of application of internet of things. The industry has evolved through four phases. The first phase is connectivity and sensors progressively enabling passive monitoring, interaction, ambient awareness, and automation. The second phase added an interaction component. The transition to phase 3 will allow vehicles to be aware of what is happening in the immediate vicinity through Advanced Driver Assistance Systems (ADAS) sensors or even through vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I). Now, in the fourth phase introduces automation by making vehicles independent through driverless cars and autonomous.

Key Players 

The key players of global Iot in the automobile market report include Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), TOMTOM N.V. (Netherlands), IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), Microsoft Corp. (U.S.) ,Thales SA (France), AT&T Inc. (U.S.), Vodafone Group (U.K.), Robert Bosch GmbH (Germany), Google Inc. (U.S.), Apple Inc. (U.S.), General Motors (U.S.), Audi AG (Germany) , Ford Motor Company (U.S.) and others.  

Market Segmentation:

On the basis of communication type, the market can be segmented as in-vehicle, vehicle to vehicle, vehicle to infrastructure. Out of these, in-vehicle accounted for the largest market share because it is used to provide accurate route information to a user while on road and also update the road-traffic controller with detailed information about the conditions on a road.

 On the basis of application the market can be segmented infotainment, navigation and telematics. Out of these, infotainment accounted for the largest market share because of device integration, high-speed connectivity, intuitive and multi-modal user interfaces in the systems installed in vehicles.

On the basis of offering, communication type, application and region. By offering, the market has been bifurcated into hardware, software, services.

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Regional Analysis: 

Regionally, North-America accounted for the largest market share because of the boom in the ICT sector, the automotive sector, and the transportation sector which resulted in the emergence of the connected vehicle ecosystem.
Asia-Pacific region is expected to grow over the forecast period, 2016-2022 especially in countries such as China and India countries because they are investing huge amount of money in the transportation sector.

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