by The global automotive IoT market size is expected to be worth around USD 811.72 billion by 2032 and is expected to drive growth at a CAGR of 23.10 % over the forecast period 2023 to 2032.
The North American region is expected to dominate the automotive IoT market during the forecast. As a large number of manufacturers of the IoT based automotive’s a present in the North American region. There has been an increase in the investments nearby the major manufacturers and the government which have proved to be beneficial for the growth of the market. In the past the North American region has had the largest market share due to the technological advancements in this region.
Major manufacturing companies in the North American region are focusing on providing smart parking as well as smart cities which shall drive the market growth during the forecast period. There has also been a great demand for the electric vehicles as well as the fuel cell vehicles in the North American region. The growing concerns for the number of fatal road accidents and the injuries caused by these road accidents has led the government to mandate a few features in the automobiles. Increased use of IoT in the automotive it will be extremely helpful in reducing the road traffic accidents in the forecast period and this is expected to drive the market growth in the coming years. Increased use of the collision avoidance systems in the vehicles will also be beneficial in driving the market growth of the North American region during the forecast period.
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Report Highlights
- The software segment will have a larger market share due to a greater use of software in the automotive’s. Growing demand for smart parking and automated driving will be responsible for the growth of this segment. Increased use of the software shall be extremely beneficial in providing real-time data about the condition of the batteries which may be helpful in predictive maintenance.
- On the basis of the type of communication, the vehicle-to-vehicle communication segment will have a larger market share due to a growing trend and a greater demand for this type of communication. In recent years the vehicle-to-vehicle communication segment has grown to a great extent.
- Based on application, the navigation segment will dominate the market in the coming years. The navigation system helps provide real-time data regarding the traffic on the roads, the condition of the roads and the time required to reach the destination all of these factors will drive the growth of the segment in the coming years period there is also a growing demand for infotainment in the vehicles. Increase in the purchasing power and growing demand for comfort and luxury will drive the market growth.
Market dynamics
Drivers
The market is expected to grow during the forecast period as there has been an increase in the investments made by the companies as well as the government’s further smart city initiatives. Governments and companies are also focusing on providing smart parking to vehicles and it is expected to drive the market growth period to provide better safety and comfort for the passengers as well as the driver the demand for vehicles that seem to be user-friendly is expected to grow and drive the market growth in the coming years. An increase in road traffic accidents and an increase in deaths because of these accidents will drive the market growth during the forecast period.
Automotive IoT has been commercialized in the North American region and many other developed countries which has proven to be extremely favorable for the growth of the market. Increased use of artificial intelligence that shall support the parking in navigation in vehicles will drive the market growth. Real time information about the parking spots, and parking sensors or beneficial for the growth of the market. Inbuilt communication will also be beneficial in providing road accidents.
Restraints
Smart vehicles or autonomous vehicles are expensive compared to convenient vehicles. This shall be a major restraint in the group the market in the coming years. Due to the increased use of the sensors, the amount of information that will require processing will also need more processing power, and this shall increase the cost of the vehicles.
Opportunities
During the pandemic, there has been a great demand for hybrid electric vehicles and electric vehicles which is expected to drive the market growth of IoT in the automotive. An increase in the number of sales of the vehicles will drive the market growth during the forecast period. As the system helps provide real time data making decisions on the spot has become easier. The number of road accidents it will also reduce due to the use of smart devices and smart systems.
The use of the system should ensure a safe and comfortable journey of the passengers as road accidents due to human error will be reduced to a great extent. Increased investments from the government and the manufacturers in increasing the production of vehicles will also drive the market growth in the coming years period policies from the governments that have made mandatory integration of IoT in the vehicles will drive the market growth in the coming years. It helps in the predictive maintenance of the vehicles which proves to be beneficial.
Challenges
All the vehicles that make use of IoT may not always work effectively. For all the functions to perform smoothly there is a need for a stable Internet connectivity. Requirement of the Internet happens to be the infrastructure needed for the smooth functioning of these cars and in the developing nations Internet connectivity may be a problem. In the rural areas the use of such vehicles may not be of any use. There is a greater demand for these cars in the urban areas and they shall perform well in these areas. There is an increased risk of security. Sensitive information can be stolen add the breach of this information movie be at times responsible for accidents.
Read More: Electric Vehicle Motor Market Worth USD 56.95 Billion by 2032
Recent developments
- By providing anti-theft feature in the vehicles along with parking assistance a new accessory which will be helpful in tracking these vehicles was launched by Volvo car in the year 2021, and the technology used is VTS S5 provided by Vodafone automotive.
Market Segmentation
By Communication
- Vehicle to Vehicle
- In vehicle communication
- Vehicle to infrastructure
By Offering
- Hardware
- Software
- Services
By Connectivity Form
- Embedded
- Tethered
- Integrated
By Application
- Navigation
- Infotainment
- Telematics
By End User
- OEM
- Aftermarket
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Automotive IoT Market
5.1. COVID-19 Landscape: Automotive IoT Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Automotive IoT Market, By Communication
8.1. Automotive IoT Market, by Communication, 2023-2032
8.1.1. Vehicle to Vehicle
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. In vehicle communication
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Vehicle to infrastructure
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Automotive IoT Market, By Offering
9.1. Automotive IoT Market, by Offering, 2023-2032
9.1.1. Hardware
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Software
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Services
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Automotive IoT Market, By Connectivity Form
10.1. Automotive IoT Market, by Connectivity Form, 2023-2032
10.1.1. Embedded
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Tethered
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Integrated
10.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Automotive IoT Market, By Application
11.1. Automotive IoT Market, by Application, 2023-2032
11.1.1. Navigation
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Infotainment
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Telematics
11.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Automotive IoT Market, By End User
12.1. Automotive IoT Market, by End User, 2023-2032
12.1.1. OEM
12.1.1.1. Market Revenue and Forecast (2020-2032)
12.1.2. Aftermarket
12.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 13. Global Automotive IoT Market, Regional Estimates and Trend Forecast
13.1. North America
13.1.1. Market Revenue and Forecast, by Communication (2020-2032)
13.1.2. Market Revenue and Forecast, by Offering (2020-2032)
13.1.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.1.4. Market Revenue and Forecast, by Application (2020-2032)
13.1.5. Market Revenue and Forecast, by End User (2020-2032)
13.1.6. U.S.
13.1.6.1. Market Revenue and Forecast, by Communication (2020-2032)
13.1.6.2. Market Revenue and Forecast, by Offering (2020-2032)
13.1.6.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.1.6.4. Market Revenue and Forecast, by Application (2020-2032)
13.1.7. Market Revenue and Forecast, by End User (2020-2032)
13.1.8. Rest of North America
13.1.8.1. Market Revenue and Forecast, by Communication (2020-2032)
13.1.8.2. Market Revenue and Forecast, by Offering (2020-2032)
13.1.8.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.1.8.4. Market Revenue and Forecast, by Application (2020-2032)
13.1.8.5. Market Revenue and Forecast, by End User (2020-2032)
13.2. Europe
13.2.1. Market Revenue and Forecast, by Communication (2020-2032)
13.2.2. Market Revenue and Forecast, by Offering (2020-2032)
13.2.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.2.4. Market Revenue and Forecast, by Application (2020-2032)
13.2.5. Market Revenue and Forecast, by End User (2020-2032)
13.2.6. UK
13.2.6.1. Market Revenue and Forecast, by Communication (2020-2032)
13.2.6.2. Market Revenue and Forecast, by Offering (2020-2032)
13.2.6.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.2.7. Market Revenue and Forecast, by Application (2020-2032)
13.2.8. Market Revenue and Forecast, by End User (2020-2032)
13.2.9. Germany
13.2.9.1. Market Revenue and Forecast, by Communication (2020-2032)
13.2.9.2. Market Revenue and Forecast, by Offering (2020-2032)
13.2.9.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.2.10. Market Revenue and Forecast, by Application (2020-2032)
13.2.11. Market Revenue and Forecast, by End User (2020-2032)
13.2.12. France
13.2.12.1. Market Revenue and Forecast, by Communication (2020-2032)
13.2.12.2. Market Revenue and Forecast, by Offering (2020-2032)
13.2.12.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.2.12.4. Market Revenue and Forecast, by Application (2020-2032)
13.2.13. Market Revenue and Forecast, by End User (2020-2032)
13.2.14. Rest of Europe
13.2.14.1. Market Revenue and Forecast, by Communication (2020-2032)
13.2.14.2. Market Revenue and Forecast, by Offering (2020-2032)
13.2.14.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.2.14.4. Market Revenue and Forecast, by Application (2020-2032)
13.2.15. Market Revenue and Forecast, by End User (2020-2032)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Communication (2020-2032)
13.3.2. Market Revenue and Forecast, by Offering (2020-2032)
13.3.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.3.4. Market Revenue and Forecast, by Application (2020-2032)
13.3.5. Market Revenue and Forecast, by End User (2020-2032)
13.3.6. India
13.3.6.1. Market Revenue and Forecast, by Communication (2020-2032)
13.3.6.2. Market Revenue and Forecast, by Offering (2020-2032)
13.3.6.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.3.6.4. Market Revenue and Forecast, by Application (2020-2032)
13.3.7. Market Revenue and Forecast, by End User (2020-2032)
13.3.8. China
13.3.8.1. Market Revenue and Forecast, by Communication (2020-2032)
13.3.8.2. Market Revenue and Forecast, by Offering (2020-2032)
13.3.8.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.3.8.4. Market Revenue and Forecast, by Application (2020-2032)
13.3.9. Market Revenue and Forecast, by End User (2020-2032)
13.3.10. Japan
13.3.10.1. Market Revenue and Forecast, by Communication (2020-2032)
13.3.10.2. Market Revenue and Forecast, by Offering (2020-2032)
13.3.10.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.3.10.4. Market Revenue and Forecast, by Application (2020-2032)
13.3.10.5. Market Revenue and Forecast, by End User (2020-2032)
13.3.11. Rest of APAC
13.3.11.1. Market Revenue and Forecast, by Communication (2020-2032)
13.3.11.2. Market Revenue and Forecast, by Offering (2020-2032)
13.3.11.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.3.11.4. Market Revenue and Forecast, by Application (2020-2032)
13.3.11.5. Market Revenue and Forecast, by End User (2020-2032)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Communication (2020-2032)
13.4.2. Market Revenue and Forecast, by Offering (2020-2032)
13.4.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.4.4. Market Revenue and Forecast, by Application (2020-2032)
13.4.5. Market Revenue and Forecast, by End User (2020-2032)
13.4.6. GCC
13.4.6.1. Market Revenue and Forecast, by Communication (2020-2032)
13.4.6.2. Market Revenue and Forecast, by Offering (2020-2032)
13.4.6.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.4.6.4. Market Revenue and Forecast, by Application (2020-2032)
13.4.7. Market Revenue and Forecast, by End User (2020-2032)
13.4.8. North Africa
13.4.8.1. Market Revenue and Forecast, by Communication (2020-2032)
13.4.8.2. Market Revenue and Forecast, by Offering (2020-2032)
13.4.8.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.4.8.4. Market Revenue and Forecast, by Application (2020-2032)
13.4.9. Market Revenue and Forecast, by End User (2020-2032)
13.4.10. South Africa
13.4.10.1. Market Revenue and Forecast, by Communication (2020-2032)
13.4.10.2. Market Revenue and Forecast, by Offering (2020-2032)
13.4.10.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.4.10.4. Market Revenue and Forecast, by Application (2020-2032)
13.4.10.5. Market Revenue and Forecast, by End User (2020-2032)
13.4.11. Rest of MEA
13.4.11.1. Market Revenue and Forecast, by Communication (2020-2032)
13.4.11.2. Market Revenue and Forecast, by Offering (2020-2032)
13.4.11.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.4.11.4. Market Revenue and Forecast, by Application (2020-2032)
13.4.11.5. Market Revenue and Forecast, by End User (2020-2032)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Communication (2020-2032)
13.5.2. Market Revenue and Forecast, by Offering (2020-2032)
13.5.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.5.4. Market Revenue and Forecast, by Application (2020-2032)
13.5.5. Market Revenue and Forecast, by End User (2020-2032)
13.5.6. Brazil
13.5.6.1. Market Revenue and Forecast, by Communication (2020-2032)
13.5.6.2. Market Revenue and Forecast, by Offering (2020-2032)
13.5.6.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.5.6.4. Market Revenue and Forecast, by Application (2020-2032)
13.5.7. Market Revenue and Forecast, by End User (2020-2032)
13.5.8. Rest of LATAM
13.5.8.1. Market Revenue and Forecast, by Communication (2020-2032)
13.5.8.2. Market Revenue and Forecast, by Offering (2020-2032)
13.5.8.3. Market Revenue and Forecast, by Connectivity Form (2020-2032)
13.5.8.4. Market Revenue and Forecast, by Application (2020-2032)
13.5.8.5. Market Revenue and Forecast, by End User (2020-2032)
Chapter 14. Company Profiles
14.1. Texas Instruments (US)
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Intel (US)
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. NXP Semiconductors (Netherlands)
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. TOMTOM (Netherlands)
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. Robert Bosch (Germany)
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Google (US)
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Apple (US)
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. General Motors (US)
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Audi (Germany)
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Ford Motor (US)
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
Chapter 15. Research Methodology
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
Chapter 16. Appendix
16.1. About Us
16.2. Glossary of Terms
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