Pune, Feb. 16, 2023 (GLOBE NEWSWIRE) -- A global Automotive and Transportation business-consulting firm, Maximize Market research, has published a market intelligence and competitive landscape report on the “Internet of Things in Automotive Market”. As per the report, which is a combination of primary and secondary data, the total market opportunity for the Internet of Things in Automotive was USD 79.80 Bn in 2021 and is expected to grow at 26.7 percent CAGR through the forecast period reaching USD 529.93 Bn.
Internet of Things in Automotive Market Scope
| Market Size in 2021 | USD 79.80 Bn |
| Market Size in 2029 | USD 529.93 Bn |
| CAGR | 26.7 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 269 |
| No. of Tables | 111 |
| No. of Charts and Figures | 103 |
| Segment Covered | Connectivity Type, Communication Type, Offering and Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Request For Free Sample Report: https://www.maximizemarketresearch.com/request-sample/10421
Heavy funding by the government in the next-generation vehicle-to-vehicle and vehicle-to-infrastructure communication technologies
During the forecast period, the market is expected to grow at a fast growth rate. The growth of the Internet of Things in Automotive Market is majorly expected to grow due to autonomous vehicles, maintenance alerts, increasing telematics orders from governments, increasing demand for smart devices and the necessity for smartphone functionality in vehicles.
Increasing Sales of Connected Cars is the major driver for the Internet of Things in Automotive Market growth
The connected cars have internet access and local area network (LAN), which facilitates the cars to share their information with different devices inside and outside the cars. The increasing demand for connected cars is driving the Internet of Things in Automotive Market.
Get a Sample Copy of the Report: https://www.maximizemarketresearch.com/request-sample/10421
The Internet of Things in Automotive Market in the Asia Pacific region is expected to grow at a high CAGR during the forecast period
The growth of the regional Internet of Things in Automotive Market is majorly driven by the increasing high-speed networks and internet access, continuous technological advancements in the industry, government programs for smart cities and smart traffic and rapidly growing economies.
The Internet of Things in Automotive Market in the North America region is expected to hold the second-largest market
In the region, the governments are implementing policies to provide safety to the consumers by integrating smart features in the vehicles due to the increasing road accidents.
Get a Sample PDF Brochure: https://www.maximizemarketresearch.com/request-sample/10421
Internet of Things in Automotive Market Segmentation
By connectivity type, the market for integrated connectivity is expected to register the highest growth rate during the forecast period
Reduction in up-front hardware connectivity costs in the vehicles, as consumers need to pay for network data cost and as communication costs are directly connected to the user, which allows them to use according to the need, which is a major factor influencing the integrated connectivity market.
By Communication Type, Vehicle to Vehicle segment is expected to dominate the market in the coming years
Increasing demand for the Vehicle to Vehicle communication, which helps communicate with other vehicles that are nearby. It helps to drive safely as it provides real-time information from person to person. Cameras and RFID readers are used to transfer real-time information. The information from the traffic lights and parking meter are also conveyed in an efficient manner.
By offering type, the Software segment is expected to dominate the highest market share over the forecast period
Demand for smart vehicles due to an increase in the investment from the government and purchasing power of the consumer. Use of software helps provides an enhanced experience to drivers as well as passengers. Monitoring the condition of the batteries that are utilized in these electric vehicles is expected to drive growth.
Purchase Report: https://www.maximizemarketresearch.com/checkout/?method=PayPal&reportId=10421&type=Single%20User
By Connectivity Type:
- Embedded
- Tethered
- Integrated
By Communication Type:
- In-vehicle
- vehicle to vehicle
- vehicle to infrastructure
By offering:
- Hardware
- Service
By Application:
- Infotainment
- Navigation
- Telematics
Key Companies covered in the Internet of Things in Automotive Market are:
- Qualcomm (US)
- Intel Corporation (US)
- NVIDIA. (US)
- Texas Instruments Inc (US)
- Aeris Communications, Inc. (US)
- Amazon Web Services, Inc. (US)
- Avnet, Inc. (US)
- Zoho Corporation- WebNMS (US)
- IBM Corporation (US)
- Cisco Systems Inc (US)
- AT&T Inc (US)
- Microsoft (US)
- Apple (US)
- Google Inc (US)
- Moj.io, Inc. (Canada)
- Vodafone Group Plc (UK)
- AppyParking (UK)
- NXP Semiconductors N.V. (Netherlands)
- Audi Ag (Germany)
- CarIQ (India)
- Evoke Motorcycles (Hong Kong)
- Advantech Co., Ltd (Taiwan)
- LG CNS (South Korea)
Microsoft (US)
Microsoft creates and develops industry-specific cloud solutions on the platform with intelligent edge-to-cloud technologies that come with security, privacy, and compliance built-in. Drive transformation and achieve desired business outcomes by building intelligent environments that allow to connect, monitor, automate, and model devices and applications—all with the Microsoft Cloud. Internet of Things or IoT refers to a collection of managed and platform services across edge and cloud that connect, monitor and control billions of IoT assets in Microsoft.
Qualcomm (US)
Their unique product roadmap supports accelerated innovation and comprehensive system integration for automotive applications. They support automotive product trends in telematics, infotainment, ADAS, and cloud management mobile solutions. The Qualcomm Snapdragon 602 automotive platform, is specifically designed to meet automotive industry standards.
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Connectivity type, Communication type, Offerings, and Application
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Key questions answered in the Internet of Things in Automotive Market are:
- What is Internet of Things in Automotive market?
- What is the growth rate of the Internet of Things in Automotive market?
- What is the forecast period of the Internet of Things in Automotive market?
- Which segment dominated the Internet of Things in Automotive Market growth?
- Which factor is expected to drive the Internet of Things in Automotive market?
- What is the demand pattern for the Internet of Things in Automotive market?
- Who held the largest market share in the Internet of Things in Automotive market?
- Who are the key players in the Internet of Things in Automotive market?
Maximize Market Research is leading Information technology and Telecommunication research firm, has also published the following reports:
Solar-Based Internet of Things (IoT) Market: The total market size is expected to hold 9.95 percent CAGR during the forecast period and the market size is expected to reach nearly USD 21.99 Bn by 2029. Rapid technological advancements combined with digitization are expected to drive market growth.
Internet of Things (IoT) Manufacturing Market: The total market size is expected to reach USD 122.04 Bn by 2029, at a CAGR of 11.8 percent during the forecast period. IoT intelligent systems enable rapid manufacturing of new products, active response to product demands, and real-time optimization of manufacturing production.
Internet of Things (IoT) in Retail Market: The total market size is expected to reach USD 72.63 Bn in year 2029, at a CAGR of 19.6 percent during the forecast period. Deployment of the Internet of Things (IoT) through the retail sector is expected to drive market growth.
Internet of Things (IoT) Connected Cars Market: The total market size is expected to grow at a CAGR of 25.5 percent during the forecast period and is expected to reach USD 363.7 Bn by 2029. A connected smart car comes in a revolutionary way, which is expected to drive market growth.
Industrial Internet of Things (IIoT) Market: The total market growth size is expected to reach USD 298.98 Bn by 2029, at a CAGR of 7.3 percent during the forecast period. Technological advancements in semiconductor and electronics devices and the availability of automation solutions is expected to drive market growth.
Internet of Things Testing Market: The total market size was valued at USD 1.56 Bn in 2021 and the total revenue is expected to grow at 29.6 percent from 2022 to 2029, reaching nearly USD 12.48 Bn. IoT Testing ensures that firms build and approve appropriate IoT applications and designs is expected to drive market growth.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
