/
Global IoT in Automotive Market- Industry Trends & Forecast Report 2027 Global IoT in Automotive Market- Industry Trends & Forecast Report 2027

Global IoT in Automotive Market- Industry Trends & Forecast Report 2027 - PDF document

Paritosh
Paritosh . @Paritosh
Follow
345 views
Uploaded On 2021-12-01

Global IoT in Automotive Market- Industry Trends & Forecast Report 2027 - PPT Presentation

IoT in Automotive Market Global Industry Size Share Trend Analysis Outlook Growth Opportunity and Forecast 20172027 Segmented By Offering Hardware Software Service By Connectivity Form Factor Embedded Tethered Integrated By Communication Type InVehicle VehicletoVehicle Vehic ID: 904224

IoT in Automotive Market IoT in Automotive Market Size IoT in Automotive Market Share

Share:

Link:

Embed:

Download Presentation from below link

Download Pdf The PPT/PDF document "Global IoT in Automotive Market- Industr..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.


Presentation Transcript

Global IoT in Automotive Market Set for Explosive Growth: Forecast to Grow at a CAGR of 25.2% by 2027 Global IoT in Automotive Market - Industry Trends & Forecast Report 2027 Summary A recent study, conducted by the strategic consulting and market research firm, BlueWeave Consulting , revealed that the global IoT in the automotive market was worth USD 47 .4 billion in 2020. The market is estimated to grow at a CAGR of 25.2%, earning revenue of around USD 227.7 billion by the end of 2027. The global IoT market in the automotive industry is growing rapidly due to the increasing application of IoT to provide advanced features like access to traffic information, improving driving behavior, remote vehicle diagnostics and predictive maintenance, monitoring road conditions, and fuel usage. In addition to establishing connections between vehicles, IoT is also being used to enable vehicle - to - vehicle connectivity. Although, the increased risk of data theft and cyberattacks may act as a huge hindrance to market growth . Report Overview The global IoT in automotive market is gaining significant traction because of the smart features of IoT such as updating real - time traffic and incident alerts that help people in saving time and responding to critical situations intelligently . Global IoT in Automotive Market - Industry Trends & Forecast Report 202 7 View report Press release Sample report Global IoT in Automotive Market Set for Explosive Growth: Forecast to Grow at a CAGR of 25.2% by 2027 The global IoT in automotive market was worth USD 47.4 billion in 2020 and is further projected to reach USD 227.7 billion by the year 2027, growing at a CAGR of 25.2% by 2027. The market is gaining significant traction because of the smart features of IoT , such as updating real - time traffic and incident alerts that help people save time and respond to critical situations intelligently. In addition, the presence of high - speed mobile networks will stimulate IoT growth in the forecast period, improving respon se times and vehicular communicate . Global IoT in Automotive Market - Overvie w New avenues have opened for automakers and buyers worldwide with the advent of the Internet of Things (IoT) . By making accurate decisions and assi sting the driver, automotive IoT reduces accident risks and simplifies driving. Other features of automotive IoT include predictive maintenance, which prevents vehicles from further damage. Increasing technological advancements have led automobile manufact urers to embed technologies, such as IoT, into their products. With the implementation of IoT in automotive market, transportation efficiency and management capabilities have increased. Connected cars and automated transport systems are just two of the gro wing applications that make up the IoT in the global automotive industry . Global IoT in Automotive Market Forecast and Trend s Growth Driver s Expanding Production of Automotiv e The automotive industry is one of the fastest growing industries in the world du e to the growing sales of automobiles and increasing demand for OEM technologies. This is expected to fuel the demand for IoT in automotive in the upcoming years. The manufacturers of developed economies, such as North America, focus on the early adoption of advanced technologies to gain the upper hand in the market. OEMs in emerging economies like China and India are expanding their production capacities to meet growing demand. As a consequence, IoT will likely drive the demand in automobiles throughout th e forecast period . Launch Of 5G Networks and Increasing Penetration of Clou d IoT is a network of interconnected digital devices and, therefore, is completely cellular network - dependent. With the launch of 5G networks, the interconnectivity of devices will increase, which will lead to better data transmission and receiving. Furtherm ore, the growing adoption of the cloud and the emergence of new cloud data centers will also provide lucrative growth opportunities for expanding the storage of data generated by the Internet of Things. The cloud offers better scalability with limited reso urces, which will boost IoT adoption for the automotive industry . Global IoT in Automotive Market Set for Explosive Growth: Forecast to Grow at a CAGR of 25.2% by 2027 Restraint s Increased Risk on Data Privac y The IoT solutions and services generate a great deal of data to predict and make decisions. Data generated is transferred either on personal devices like smartphones or through cloud services. This exposes the users’ data to potential cyberattacks and thefts, a major restraining factor for the global IoT in automotive market. The cases of malware attacks are very common in IoT applications, and despit e the devices offering advanced in - built security features, these are not sufficient to protect data . Impact of COVID - 19 on the Global IoT in Automotive Marke t The unprecedented outbreak of COVID - 19 tremendously halted the growth of the global IoT in autom otive market. As the countries imposed strict lockdowns to curb the spread of the virus, the manufacturing of automobiles was completely restricted. Following the COVID - 19, even after the restrictions were loosened, the shortage of body parts and a shortag e of workers led to a halt in automotive production. This resulted in a sharp drop in the demand for IoT automotive during this period, causing huge losses to the market . Global IoT in Automotive Market - By Offerin g Based on offerings, the global IoT in a utomotive market is segmented into hardware, software, and service. The software segment held the largest market share in 2020. AI and apps make up 90% of the software in self - driving cars, while the hardware make up only 10%. Over the forecast period, sel f - driving cars and improved mobile networks are expected to drive the software segment. On the other hand, since hardware in IoT is used to establish connectivity among different elements, its market is also growing rapidly . Global IoT in Automotive Market - By Connectivity Form Facto r Based on the connectivity form factors, the global IoT in automotive market is segmented into embedded, tethered, and integrated. Among these, the embedded segment accounts for the largest market share. However, integrated co nnectivity is anticipated to witness the highest CAGR during the forecast period because of the increasing app integration in vehicles. Integrating vehicles with other devices and infrastructure is enabling enhanced connectivity, including capabilities lik e smart traffic routing of self - driving vehicles, which will improve roadway efficiency and increase demand for integrated connectivity . Global IoT in Automotive Market - Regional Insight s Geographically, the global IoT in automotive market is segmented in to North America, Europe, Asia - Pacific, Latin America, and Middle - East & Africa. North America dominates the global IoT in automotive market owing to the presence of Global IoT in Automotive Market Set for Explosive Growth: Forecast to Grow at a CAGR of 25.2% by 2027 major automobile manufacturers, such as General Motors (GM), Ford, Tesla, etc. Moreover, s ignificant investment towards early adoption of advanced technologies also favors the market. A strong 4G network and growing penetration of 5G, which offers better connectivity among IoT components, are also expected to boost the region’s market growth du ring the forecast period . Competitive Landscap e The leading players in the global IoT in automotive market are Ford Motor Company, Intel Corporation, Texas Instruments Inc., General Motors, Google Inc., Apple Inc., Cisco Syste ms Inc., Microsoft Corporation, Robert Bosch GmbH, Audi AG, Thales SA, IBM Corporation, TOMTOM NV, Vodafone, AT&T, NXP Semiconductors, and other prominent players . The market is dominated by the leading industry players, such as Ford, IBM, Google, Microsof t, etc. However, with expanding technology, more and more IoT solutions startups are also emerging giving tough competition to these established players. The companies constantly launch new IoT services and solutions to stand out from the competition. Furt hermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market . Recent Development s  In October 2021, Dellfer, a US - based IoT and cybersecurity startup, announced to have raised USD 8 million in Series A investment from mobility supplier DENSO and specialist cybersecurity private equity firm Option3 .  In October 2021, MG Motors, the leading British automoti ve company, announced its partnership with Jio to provide high - speed - car - connectivity with Jio’s eSIM and IoT solutions . Scope of the Repor t Attribute s Detail s Years Considere d Historical data – 2017 - 202 0 Base Year – 202 0 Forecast – 2021 – 202 7 Global IoT in Automotive Market Set for Explosive Growth: Forecast to Grow at a CAGR of 25.2% by 2027 Facts Covere d Revenue in USD Billio n Market Coverag e U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabi a Product Service/Segmentatio n By Offering, By Connectivity Form Factor, By Communication Type, By Application, By Regio n Key Player s Texas Instruments Inc., Intel Corporation, General Motors, Ford Motor Company, Apple Inc., Cisco Systems Inc., IBM Corporation, Google Inc., Microsoft C orporation, Robert Bosch GmbH, Audi AG, NXP Semiconductors, TOMTOM, Thales SA, Vodafone, AT&T, and other prominent players . By Offerin g  Hardwar e  Softwar e  Servic e By Connectivity Form Facto r  Embedde d  Tethere d  Integrate d By Communication Typ e  In - Vehicl e  Vehicle - to - Vehicl e  Vehicle - to - Infrastructur e By Applicatio n  Navigatio n Global IoT in Automotive Market Set for Explosive Growth: Forecast to Grow at a CAGR of 25.2% by 2027  Telematic s  Infotainmen t By Regio n  North Americ a  Europ e  Asia - Pacifi c  Latin Americ a  Middle East & Afric a About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative dat a to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or s ervice markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For mor e information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global IoT in Automotive Market Set for Explosive Growth: Forecast to Grow at a CAGR of 25.2% by 2027 Global IoT in Automotive Market Set for Explosive Growth: Forecast to Grow at a CAGR of 25.2% by 2027