LONDON--(BUSINESS WIRE)--According to the research report by Technavio on the global IIoT market in the automotive industry, the market is expected to accelerate at a CAGR of more than 33% during the forecast period. The decreasing cost of sensors is one of the key drivers for the IIoT market.
This research report titled ‘Global IIoT Market in the Automotive Industry 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The report on the global IIoT market in the automotive industry categorizes the market into the following solutions:
- Hardware and software
In 2016, the hardware and software segment accounted for over 89% of the IIoT market share and is projected to dominate the market throughout the forecast period.
Global IIoT market in the automotive industry: Top emerging trend
The adoption of virtual reality in the automotive industry is an emerging trend in the IIoT market. Virtual reality has witnessed rapid development in the last decade. The automotive industry has widely adopted VR owing to the prospect of cost and time reductions resulting from the execution of this technology. The benefits of VR in manufacturing range from the improvement of decision-making process to cost reduction and augmentation of risk measures and control of manufacturing processes. VR allows the assembly and disassembly of virtual objects in assembly training. The visual stimulation provided by VR has more chances of retention among the trainees than that of traditional training approaches.
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Technavio’s report provides expert market research on the following topics:
- Market Outline
- Global IIoT market in the Automotive Industry Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries
- Market segmentation by application (manufacturing operations, production asset management and maintenance, and inventory and supply chain management)
- Market segmentation by solution (hardware and software and services)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Cisco, HCL, IBM, and PTC)
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