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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