According to the report, the global IoT in automotive market is
projected to grow at a compound annual growth rate (CAGR) of 27.55%
leading to a global revenue of USD 104.16 Bn by 2023.
High demand for connected cars is being witnessed all over the globe.
The global number of cars on the road is expected to double by 2040 and
of this at least 80%-90% are expected to be cars connected through IoT.
due to the increase in disposable income of people, infotainment
services inside the car are also becoming very important to them. People
expect their digital lifestyles to be extended into their cars with the
help of IoT, etc. These are expected to accelerate the market.
The in-vehicle communication segment has seen great acceptance among
consumers. Developed countries like North America and Europe are
focusing on reducing road risks and crashes through V2V and
vehicle-to-infrastructure (V2I) using IoT.
Within the communication type, the vehicle-to-vehicle segment is
expected to register a high growth rate through the forecast period of
2018-2023 as many IoT providers are looking to improve driving
conditions and prevent road accidents by letting one vehicle to transfer
speed and position data to the other over the internet.
The car companies need to spend more on educating users about the
advanced technologies in their automotive vehicles. To do so they have
to invest in training and provide easy to understand manuals. This might
pose as an initial roadblock to the adoption of IoT in automotive.
Given the fact that it is a new technology, it is often not cost
effective to adopt unless a proper business model is set up for the
proper utilization of it. Lack of a sound business model to monetize the
IoT applications in automotive may hinder the growth of the market.
Also, internet access and speed are not the same across all places in
the world. So, adoption is expected to be slow in low internet
Major IoT providers in automotive operating in the market are Cisco,
Ford, IBM, Microsoft, AT&T, etc.
Key Topics Covered
Chapter 1: Executive Summary
Chapter 2: Global IoT in Automotive Market - Overview
Chapter 3: North America IoT in Automotive Market - Market Overview
Chapter 4: Europe IoT in Automotive Market - Market Overview
Chapter 5: Asia-Pacific IoT in Automotive Market - Market Overview
Chapter 6: Latin America IoT in Automotive Market - Market Overview
Chapter 7: The Middle East and Africa IoT in Automotive Market - Market
Chapter 8: Competitive Landscape
Chapter 9: Conclusion
8. General Motors
10. NXP Semiconductors
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