IoT in Automobile Market Scenario
The IoT
in Automobile Market 2020 to rise at a high pace, states Market Research Future
(MRFR). The rise of the IoT in Automobile industry can be credited to the
expansion of the automobile sector. The IoT in Automotive industry can
experience decent rise due to high utility of Internet of Things enabled
devices.
The chief drivers
for the rise of the IoT in automobile market are incident alerts, real-time
traffic, and increase in the number of telematics mandates offered by different
governments, and the high demand for automated and assisted driving.
The high influence
of Internet of Things on wireless connectivity can impact the IoT in automobile
market positively. The growing popularity of connected vehicles and other new
applications of wireless connectivity to achieve higher efficiency, followed by
business better quality and growth can boost the IoT automobile market.
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Internet of things
technology in the automotive sector is aiding to redefine and reinvent the
sector. The evolution of automotive IoT can bolster the expansion of the market
in the years to come. Governments across the globe are funding the design and
launch of next generation vehicle-to-vehicle and redefining
vehicle-to-infrastructure vehicle. The rise in consumer’s demand for feature of
smartphone can impel the expansion of the market. On the downside, the rising
concerns over privacy and security can interfere the expansion of the IoT in
automobile market.
Market Segments
The world IoT in
automobile market segment study is based on communication type, offering, and
application.
The offering based
segments of the IoT in automobile market are hardware, software, services.
The communication
type based segments of the IoT in automobile market are in-vehicle, vehicle to
infrastructure, and vehicle to vehicle. Infotainment is the IoT in automobile
market segment that is based on application.
Features, such as
high-speed connectivity, device integration, and intuitive user interface, and
multi-modal user interfaces and the high rate of adoption of IoT by the
automobile segment can stir up high revenue generation through the assessment
period.
Regional
Analysis
MRFR analysis of
the world IoT in the automobile market reveals that the rise of the IoT in the
automobile market is likely to be significant in North America.
North America
accounted for the major market share owing to the rise in formulation and the
adoption of modern technologies by the automobile sector. The booming ICT
sector, the transportation sector, and the automotive sector. The growing
utility of connected vehicle ecosystem and high adoption of contemporary
technologies can prompt the regional market rise.
Europe IoT in the
automobile market rise can be attributed to the high application of IoT in
automobile. The growing inclination towards infotainment segment can impel IoT
in the automobile. The market of IoT in the automobile in Europe can rise at a
high growth rate in the near future.
Asia Pacific IoT in
the automobile market can expand at a rapid pace owing to the expansion of the
automobile sectors across India and China. The rise in funding to boost the
adoption of latest technologies and rapid expansion of transportation sector
can bolster the regional market growth.
Key Players
MRFR listed well
established players in the world IoT in the automobile global market. They are;
Intel Corporation (U.S.), Texas Instruments Inc. (U.S.), TOMTOM N.V. (Netherlands),
NXP Semiconductors N.V. (Netherlands), Cisco Systems Inc. (U.S.), IBM
Corporation (U.S.), Thales SA (France), Microsoft Corp. (U.S.) , Vodafone Group
(U.K.), AT&T Inc. (U.S.), Google Inc. (U.S.), Robert Bosch GmbH (Germany),
General Motors (U.S.), Apple Inc. (U.S.), Ford Motor Company (U.S.), and Audi
AG (Germany) among others.
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