The automotive IoT market was valued at US$ 19.9 billion in 2016 and is projected to reach US$ 165.5 billion by 2025, according to a market research report Automotive Internet of Things Market, by Offering (Hardware, Software, and Services), by Connectivity Form Factor (Embedded, Tethered, and Integrated), by Communication Type (In-Vehicle Communication, Vehicle-To-Vehicle Communication, and Vehicle-To-Infrastructure Communication), by Application (Navigation, Telematics, and Infotainment) and by Geography – Global Forecast to 2025.
Automotive IoT is an internet connected vehicle that provides in-vehicle, vehicle-to-vehicle and vehicle-to-infrastructure communication. In automotive, the Internet is used for application in infotainment, telematics, and navigation. Increasing installation of infotainment systems is a major factor for growth of IoT technology in the automotive industry. Demand for in-car smartphone integration technologies is increasing and this is expected influence demand for infotainment systems. According to , it is projected that around 65% of the total vehicles are expected to have in-vehicle infotainment systems by 2020, globally. Hence, on the basis of concept of connected cars, new segments have immerged such as Vehicle-to-Pedestrian, Vehicle-to-Infrastructure, Vehicle-to-Vehicle and Vehicle-to-Cloud, which are expected lead to increase demand for IoT technology in automotive industry.
Browse 40 Market Data Tables and 60 Figures spread through 300 Pages and in-depth TOC on " Automotive Internet of Things Market, by Offering (Hardware, Software and Services), by Connectivity Form Factor (Embedded, Tethered and Integrated), by Communication Type (In-Vehicle Communication, Vehicle-To-Vehicle Communication and Vehicle-To-Infrastructure Communication), by Application (Navigation, Telematics and Infotainment) and by Geography -Global Forecast to 2025.
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Key Takeaways of the Automotive Internet of Things Market:
Some of the major companies in the global automotive IoT market are Apple, Inc., AT&T Inc., Audi AG, Cisco Systems, Inc., Ford Motor Company, General Motors, Google Inc., Intel Corporation., International Business Machines Corporation, Microsoft Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, Texas Instruments Inc., Thales Sa, and Tomtom N.V.