The IoT technology helps to connect different objects in an environment with the help of both wired and non-wired connections. Moreover, an automotive IoT helps to control the operations of the vehicle to avoid any kind of accident and reduce the load from the driver. In addition, this allows complex devices like electronics, actuators, and sensors to share information with each other and other cars connected to the internet. Factors like the growing demand for connected vehicles, government initiatives for smart traffic system management, and rising adoption of road vehicle safety is driving the growth of the market. For instance, the Government of India has mandated connecting features for public transport vehicles under AIS-140 which has been regulated and enforced since April 2018.

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 Based on the offering, the market is segmented into hardware, software, and services. The software category is to witness a higher CAGR during the forecast period. In addition, increasing the usage of software improves the experience for drivers and passengers and real-time information is provided by the software that helps the passenger or the driver to make decisions. Moreover, the growing use of advanced technologies is also a key factor that will drive the growth of the market in the forecast period.

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Based on the connectivity, the market is categorized into embedded, tethered, and integrated. Among all these, integrated hold a significant share of the market in 2020 owing to their ability to connect different fleets with operators and vehicle users. It is an electronic device that monitors various aspects of the vehicle and sends information to the driver.

Based on the communication type, the market is categorized into in-vehicle, vehicle to vehicle, and vehicle to infrastructure. Among all these, vehicle-to-vehicle hold a significant share in the market in 2020. The vehicle-to-vehicle can provide the drivers with information on other vehicles including the speed, direction, and location, and alert the driver to be aware of any mishappening. In addition, companies operating in the market are focusing on new product development. For instance, in January 2020, Qualcomm Technologies Inc. introduced a new Qualcomm C-V2X reference platform for vehicular and roadside units (RSUs).  

APAC to witness extensive growth

For a better understanding of the market adoption of the Automotive IoT industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. mainly driven by the rapidly developing economies, broadening internet connectivity and high-speed networks, technological developments in the automotive sector, and government initiatives for smart cities & smart traffic management systems. Moreover, the growing income of the populace is also a key factor driving the growth of the market. Some of the market players are working to advance technology to boost the growth of the market. For instance, Intel, BMW, and Mobileye three leaders from the machine learning industries, automotive, technology, and computer vision collaborated to bring solutions for highly extensive automated driving into series production by 2021.

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 According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Automotive IoT market are Texas Instruments Incorporated, Intel Corporation, NXP Semiconductors N.V., TomTom N.V., Robert Bosch GmbH, Google LLC, Apple Inc, The General Motors Company, Audi AG, Ford Motor

 “Global Automotive IoT Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings. 

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Market Segmentation:

1.      By Offering (Hardware, Software, and Services)

2.      By Communication Type (In-Vehicle, Vehicle to Vehicle, and Vehicle to Infrastructure)

3.      By Connectivity (Embedded, Tethered, and Integrated)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (Texas Instruments Incorporated, Intel Corporation, NXP Semiconductors N.V., TomTom N.V., Robert Bosch GmbH, Google LLC, Apple Inc, The General Motors Company, Audi AG, Ford Motor.)

Key questions answered in the study:

1.      What are the current and future trends of the global automotive IoT industry?

2.      How the industry has been evolving in terms of the offering, communication type, component, and connectivity?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global automotive IoT industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global automotive IoT suppliers across various region and countries?

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