DUBLIN--(BUSINESS WIRE)--The "North America IoT in Automotive Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
According to the report, the North America IoT in automotive market is projected to grow at a compound annual growth rate (CAGR) of 28.23% leading to a revenue of USD 46.28 billion by 2023.
Huge demand for self-driving cars in the North America region is being witnessed owing to the high purchasing power as well as access to superior technology. This is driving the IoT in automotive market forward in North America.
Also, use of IoT for car health diagnostics is expected to be an important factor in the future. The measures taken for environment safety like reduction in pollution will further supplement the need for regular information on the health of a car. This is expected to further upscale the demand for IoT in automotive.
Users in the North America region are uncomfortable with IoT tracking their ride. Being connected all the time might lead to invasion of privacy. Thus, the users for whom privacy is very important may not want solutions like IoT to track their daily movements. This can challenge the growth of the market.
Given North America's rigidity on regulatory issues and government permissions, adoption of IoT in automotive can be critical due to various legal procedures relating to consumer privacy and data protection.
The infotainment segment is expected to show the highest growth rate in the region owing to the demand for rear seat digital entertainment and upcoming technologies like satellite radios, etc. which will be aided by the adoption of IoT based sensors.
Within the communication type segmentation, the vehicle to vehicle segment is expected to register a high growth rate through the forecast period 2018-2023.
Key Players Profiled
- Cisco
- Ford
- IBM
- Microsoft
- AT&T
- TomTom
- General Motors
- Audi
- NXP Semiconductors
Topics Covered
Chapter 1. Executive Summary
Chapter 2. North America IoT in Automotive Market - Overview
Chapter 3. North America IoT in Automotive Market - by Countries
Chapter 4. Competitive Landscape
Chapter 5. Conclusion
For more information about this report visit https://www.researchandmarkets.com/research/7nnfxw/iot_in_the_north?w=4
