IoT in Automotive, also known as the Internet of Things in the automotive industry, refers to the integration of internet connectivity and communication technologies into vehicles. It involves connecting various components, systems, and devices within a car to the internet, allowing them to communicate with each other and with external networks. IoT in automotive enables real-time data exchange, remote monitoring, and control, as well as the seamless integration of smart devices and services within the vehicle. The goal of IoT in automotive is to enhance functionality, safety, efficiency, and overall driving experience by leveraging the power of connected technologies in the automotive sector.
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.
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
- U.S.
- Canada
- Mexico
- 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
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: IOT IN AUTOMOTIVE MARKET, BY COMMUNICATION
CHAPTER 5: IOT IN AUTOMOTIVE MARKET, BY APPLICATION
CHAPTER 6: IOT IN AUTOMOTIVE MARKET, BY CONNECTIVITY
CHAPTER 7: IOT IN AUTOMOTIVE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
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.IoT in Automotive (Internet of Things) refers to the application of IoT technology in the automotive industry. It involves connecting vehicles, devices, and infrastructure and through the internet to enable communication, data exchange, and intelligent functionality within the automotive ecosystem. The goal of IoT in Automotive is to enhance the driving experience, improve safety, increase efficiency, and provide new services and features for both vehicle occupants and external stakeholders. It enables vehicles to be part of a larger network, where they can interact with other vehicles, infrastructure, and various digital services.
The market for user-friendly vehicles utilizing IoT technology is anticipated to expand during the forecast period, propelled by increased investments in smart cities and smart parking. This growth is driven by the aim to decrease the occurrence of road accidents and subsequent fatalities and injuries.
The IoT in Automotive market is driven by factors such as data-driven services and monetization, a rise in focus on improving road safety and reducing accidents, and the emergence of autonomous vehicles are expected to drive the market growth. However, data privacy and security concerns and infrastructure limitations and interoperability challenges hinder market growth. Further, the potential of 5G and AI, growing developments in semi-autonomous and autonomous vehicles and data monetization in the extended automotive ecosystem are some of the factors that are expected to offer lucrative opportunities for market growth.
Moreover, the demand for IoT in automotive is projected to rise due to the growing popularity of smart devices, particularly in cars. Automobile manufacturers are focusing on producing vehicles that utilize software. This will lead to increased adoption of IoT in automotive as it enables drivers to access real-time information that is highly beneficial. Furthermore, the increased integration of the Internet of Things in cars facilitates three types of communication: in-vehicle communication, vehicle-to-infrastructure communication, and vehicle-to-vehicle communication.
Vehicle-to-infrastructure (V2I) communication offers security applications that are designed to avoid vehicle accidents and crashes. Intelligent vehicles, equipped with advanced sensors, connectivity, and autonomous capabilities, are driving the need for seamless interaction with the surrounding infrastructure. The growing demand for V2I communication is the development of smart cities and intelligent transportation systems. Many cities worldwide are investing in infrastructure upgrades to support V2I communication and create connected transportation ecosystems.
Moreover, smart traffic management systems are being implemented, where traffic signals, surveillance cameras, and other infrastructure components are interconnected. Through V2I communication, these systems can collect real-time traffic data, monitor congestion, and optimize traffic flow by adjusting signal timings and providing alternative routes. For instance, in May 2022, The Madurai City Corporation will introduce an intelligent traffic management system with an advanced application that uses communication and information technologies for road transport, infrastructure, vehicles, users, and traffic management.
Furthermore, to stimulate the sales of self-driving vehicles, governments in these countries are investing substantial resources. Stringent regulations have been implemented to ensure certain services are provided in the automotive sector to prevent road accidents. The European regulatory body has mandated the inclusion of the E-call system in every car, which proves crucial in emergency situations. Governments in various regions are also enforcing mandatory connectivity services. The increasing integration of connected technologies in automobiles will drive market growth in the foreseeable future. Additionally, the rising per capita income in developed nations will contribute to a higher demand for automated systems. Furthermore, there is an increasing demand for infotainment services in automobiles within these developed countries.
The IoT in Automotive market is segmented based on communication, connectivity, application, and region. By communication, the market is segmented into the vehicle to vehicle, in vehicle communication and vehicle-to-infrastructure. Further, by vehicle type, the market is segmented into passenger cars and commercial vehicles. By application, the market is segmented into autonomous driving, body control & comfort systems, infotainment systems, communication systems, connected services, and others.
By region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA) including country-level analysis for each region.
The major companies profiled in the IoT in the Automotive market include AT&T, Cisco System, Inc., Google, Intel, Microsoft Corporation, NXP Semiconductors, Robert Bosch, Texas Instruments, Thales SA and TomTom.
Key Market Insights
By communication, the Vehicle to infrastructure segment was the highest revenue contributor to the market and is estimated to dominate the market during the forecast period.By application, the Navigation segment was the highest revenue contributor to the market in 2022 and is estimated to capture the highest revenue during the forecast period.
By connectivity, the Tethered segment dominated the global market in 2022, and distributed area network is estimated to capture the highest market share during the forecast period.
By region, North America was the highest revenue contributor, accounting for the largest market share in 2022, and is estimated to grow with a significant CAGR 21.2% during the forecast period.
Companies Mentioned
- Intel Corporation
- Robert Bosch GmbH
- Cisco System, Inc.
- Thales
- Microsoft Corporation
- Alphabet Inc.
- AT&T
- NXP Semiconductors
- Texas Instruments Inc.
- TomTom International BV
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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