Automotive IoT Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

  • Single User License $3500

Automotive IoT Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : January, 2022 | Semiconductor & Electronics

Report Digest


Global Automotive IoT Market: Snapshot

Present-day vehicles are becoming more connected than ever before. The rising level of connectivity in vehicles is enabling new business models. With the aim of gaining a competitive edge in the intensely competitive global auto industry, automakers, service providers, and suppliers are increasing their focus on cognitive IoT as one of the most promising transformative forces.

Connected vehicles are now becoming increasingly capable of analyzing real-time data, providing new insights about the overall state of various parts of a vehicle and its internal processes to vehicle users and fleet operators, helping significantly optimize their experience. Information is derived from vehicles and in-vehicle data to understand the drivers, helping reduce the number of accidents from the present average, reduce fuel costs, and boost productivity. Engineers are making use of connected-vehicle data throughout the vehicle’s lifetime to enhance and improve its functionalities and avoid quality issues and the possibility of recalls.

Looking forward, one thing can be stated without doubt - technological advances will play a critical role in the development of automotive IoT market. The move from conventional automotive systems to completely connected ones has the potential of significantly bringing about a host of benefits in terms of fuel consumption, reduction of the risk of accidents, and boosting productivity. However, bringing this vision into reality will require that the transportation ecosystem achieves a high level of collaboration and a vast set of technological advances spanning critical fronts such as connectivity technologies and the vehicle infrastructure. This report on the global automotive IoT market gives a detailed overview of the market’s present scope of development as well as its future potential of growth.

Global Automotive IoT Market: Overview

The Internet of Things (IoT) is reshaping several sectors, including automotive. With IoT, automobiles are now equipped with value added services and applications such as automated driving and real-time traffic alerts to improve the overall driving experience. Owing to increased disposable income among the urban population and demand for technologically advanced products, the automotive sector is currently flourishing. This factor is reflecting positively on global automotive IoT market, which is projected for a strong growth rate during the forecast period of 2017 to 2025. 

Automotive IoT makes for a progressive market and this report is a comprehensive analysis of the current situation of the products and technology. Based on an in-depth analysis of all the major factors that are expected to influence the demand in the near future, the report estimates the future state of the market. It also contains a dedicated section on company profiles, wherein a number of key players have been analyzed for their market share, product portfolio, research and development activities, and geographical presence. The global automotive IoT market can be segmented on the basis of offerings into hardware, software, and service, on the basis of connectivity form factor into embedded, tethered, and integrated, on the basis of communication type into in-vehicle communication, vehicle-to-vehicle communication, and vehicle-to-infrastructure communication. By application, the global automotive IoT market can be segmented into infotainment, navigation, and telematics. Geographically, the report studies the opportunities available in the regions of North America, Asia Pacific, Europe, and Rest of the World. 

Global Automotive IoT Market: Drivers and Restraints

The automotive IoT is internet connected vehicles that can communicate with other vehicles and infrastructures. With the growing number of vehicles, especially in the urban locations, the need for real-time traffic alert is escalating. With the Internet of Things, it is possible to update the end-users about congestions on the road and alternate routes on the real time. This factor is the most prominent factor driving the market for automotive IoT. Considering it as the future of the automobile sector, several companies with financial might are aggressively investing on the research and development of new products and technologies pertaining to automotive IoT. This encouragement is significantly benefitting the global automotive IoT market. Growing number of telematics mandates by several governments, escalating demand for assisted and automated driving to reduce accidents, and exponential rise in smartphone usage are some of the other factors propelling the market. However, as this technology is still in development stage, it is not cost-effective, which is acting as a hindrance for the market’s growth rate. 

Currently, in-vehicle communication contributes the maximum demand as far as communication type segment is concerned, providing accurate route to a user with real-time traffic updates, while infotainment accounts for the most demand in terms of application segment. Users can now use multimedia support and smart apps to connect with multi-modal user interfaces in the systems installed in vehicles, and enjoy streaming music, Internet radio, and social networking apps. 

Global Automotive IoT Market: Regional Outlook

North America currently serves the maximum demand among all regions for automotive IoT, especially from the developed countries of the U.S. and Canada, which resides research and development units of several prominent companies. Consumers in these two countries have high buying power and high awareness levels about the new technology. The convergence of ICT sector, the automotive industry, and the transportation sector, is also expected to boost the North America automotive IoT market. 

Companies mentioned in the research report

Some of the prominent companies currently operational in global automotive IoT market are Apple Inc., IBM Corporation, Cisco Systems Inc., Microsoft Corp., Intel Corporation, NXP Semiconductors N.V., Texas Instruments Inc., TOMTOM N.V., Thales SA, AT&T Inc., Vodafone Group, Robert Bosch GmbH, Google Inc., General Motors, Audi AG, and Ford Motor Company.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?