IoT in Automotive Market Size
PORTLAND, OREGAON, UNITED STATES, September 21, 2023/EINPresswire.com/ — Allied Market Research published a report, titled, “IoT in Automotive Market by communication, connectivity, application, and region. By communication, (Vehicle-to-Vehicle, In-vehicle Communication and Vehicle-to-Infrastructure. Further, based on vehicle type, (Passenger Cars and Commercial Vehicles). Based on application, (Autonomous Driving, Body Control & Comfort Systems, Infotainment System, Communication Systems, Connected Service and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global IoT in automotive industry generated $102.3 billion in 2022, and is anticipated to generate $760.3 billion by 2032, witnessing a CAGR of 22.6% from 2023 to 2032.
๐๐ซ๐ข๐ฆ๐ ๐๐๐ญ๐๐ซ๐ฆ๐ข๐ง๐๐ง๐ญ๐ฌ ๐จ๐ ๐ ๐ซ๐จ๐ฐ๐ญ๐ก
The global IoT in automotive market is experiencing growth due to an increasing demand for connected car services and features, rising focus on improving road safety and reducing accidents, and data-driven services and monetization. However, data privacy, security concerns, infrastructure limitations and interoperability challenges restrain the market growth to some extent. Nevertheless, vehicle to everything (V2X) communication and data driven services and monetization are expected to provide prolific growth opportunities in the upcoming years.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/4074
๐๐ก๐ ๐ฏ๐๐ก๐ข๐๐ฅ๐ ๐ญ๐จ ๐ข๐ง๐๐ซ๐๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on communication, the vehicle-to-infrastructure segment held the highest market share in 2022 accounting for nearly half of the IoT in automotive market size and is estimated to maintain its leadership status throughout the forecast period owing to its offering security applications that are designed to avoid vehicle accidents and crashes. Intelligent vehicles, equipped with advanced sensors, connectivity, and autonomous capabilities, are driving the need for seamless interaction with the surrounding infrastructure. However, the vehicle-to-vehicle segment is projected to manifest the highest CAGR of 24.4% from 2023 to 2032, as it enables vehicles to share real-time information about their speed, location, and other relevant parameters. This information can be used to warn drivers about potential collisions or hazardous road conditions, improving overall road safety.
๐๐ก๐ ๐๐๐ฏ๐ข๐ ๐๐ญ๐ข๐จ๐ง ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ ๐๐ซ๐ง๐๐ซ๐๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ฌ๐ก๐๐ซ๐ ๐ข๐ง ๐๐๐๐
Based on application, the Navigation segment held the highest market share in 2022 accounting for more than one-third of the IoT in automotive market revenue due to the growing adoption of connected vehicles presents a major growth opportunity for navigation applications in the IoT automotive market. However, the telematics segment is projected to manifest the highest CAGR of 25.8% from 2023 to 2032, owing to the incorporation of automotive telematics in electric vehicles (EVs).
๐๐ก๐ ๐ญ๐๐ญ๐ก๐๐ซ๐๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐ ๐ฉ๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Based on connectivity, the tethered segment accounted for the largest share in 2022 accounting for more than two-fifths of the IoT in automotive market revenue and is estimated to maintain its leadership status throughout the forecast period, as it enables the vehicle to access the internet through the connected device’s data connection which allows passengers and drivers to use internet-based services, such as real-time traffic updates, weather information, and online music streaming, directly from the vehicle’s infotainment system. However, the embedded segment is expected to portray the largest CAGR of 24.2% from 2023 to 2032, as it includes real-time traffic information, navigation, remote vehicle control, emergency assistance, vehicle diagnostics, and over-the-air software updates.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/IoT-in-automotive-market/purchase-options
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐๐ฒ ๐๐๐๐
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global IoT in automotive market revenue and is estimated to maintain its leadership status throughout the forecast period, due to the increasing adoption of connected technologies and the Internet of Things (IoT), the automotive sector in North America has witnessed significant advancements and opportunities for innovation. However, the LAMEA region is expected to witness the fastest CAGR of 25.4% from 2023 to 2032, owing to Increasing connectivity, and government initiatives promoting smart mobility across the region.
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
AT&T
Cisco System, Inc.
Alphabet Inc.
Intel
Microsoft Corporation
NXP Semiconductors
Robert Bosch
Texas Instruments
Thales SA
TOMTOM
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/4074
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ ๐๐ง๐ ๐๐ ๐๐๐ซ๐ค๐๐ญ : https://www.prnewswire.com/news-releases/automotive-ar-and-vr-market-projected-to-attain-673-60-bn-by-2025-at-175-7-cagr-says-amr-300794864.html
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐จ๐๐จ๐ญ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ : https://www.prnewswire.com/news-releases/automotive-robotics-market-to-garner-13-60-bn-globally-by-2027-at-12-8-cagr-says-allied-market-research-301207262.html
๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐๐๐๐ ๐๐๐ซ๐ค๐๐ญ : https://www.globenewswire.com/en/news-release/2021/08/19/2283325/0/en/Automotive-RADAR-Market-to-Garner-10-06-Billion-by-2028-Allied-Market-Research.html
David Correa
Allied Analytics LLP
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