According to Stratistics MRC, the Global Automotive IoT Market is valued at $16.32 billion in 2015 and is expected to reach $80.37 billion by 2022 growing at a CAGR of 25.5% from 2015 to 2022. Growing importance of connectivity in vehicles is one of the key factors driving the market growth. Increased R&D spending by auto manufacturers and telecom companies, rising number of telematics mandates in various countries, and advanced driver assistance systems (ADAS) are other factors favouring the market growth.
Houston, TX -- (SBWIRE) -- 07/30/2018 -- The Global Automotive IoT Market is characterized by the presence of a large number of global, regional, and local players and is highly-competitive. These international players are increasingly focusing on expanding their geographical presence and they have huge production facilities located across the world. Several vendors are increasingly competing against each other based on factors such as innovations, price, and quality of the product. Vendors with better financial and technological resources can withstand changes in different market conditions when compared to their competitors.
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By application, infotainment is anticipated to command the market share during the forecast period. North America commanded the largest share in automotive IoT market with U.S. being the major revenue contributor. However, Asia-Pacific is anticipated to register significant CAGR attributed to increased demand for infotainment and navigation services, particularly in China and India. These countries have started finding automotive IoT as a solution to limit issues such as traffic congestion, air pollution, and greenhouse gas emissions. Moreover, strong economic growth, increasing population, and quick urbanization are fueling the market in the region.
Some of the key players in the market include: 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, Tomtom N.V. and Vodafone Group PLC.
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Data integration and capabilities are analyzed to aid the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of Automotive IoT market. Detailed evaluation is defined and given importance to with exceptional running fashions.
The Asia Pacific market for Automotive IoT is anticipated to witness a promising growth throughout the forecast period. The robust growth of this region can be attributed to the developing manufacturing infrastructure, easy availability of raw materials, and technological developments. In addition, a substantial contribution from India and China is predicted to encourage the growth of the overall market in the next few years. According to the research study, this region is projected to remain in the leading position in the next few years, and register a healthy growth rate. Furthermore, Latin America and North America are projected to grow significantly in the coming years. The speedy improvement of the automotive sector and the expanding demand for adhesive tapes from various manufacturing businesses are relied upon to support the development of the Automotive IoT market in these two regions. Europe, then again, is evaluated to show a high development rate in a coming couple of years.
The record on the global Automotive IoT marketplace is a comprehensive review of the marketplace, covering numerous components including product definition, segmentation primarily based on diverse parameters, distribution channel, deliver chain evaluation, and the triumphing supplier landscape. It compiles exhaustive statistics sourced via validated research methodologies.
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Table of Contents (TOC)
Global Automotive IoT Market Research Report Forecast 2023
Chapter 1 Global Automotive IoT Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Production, Business Opportunities with Potential Analysis
Chapter 4 Global Rising Trends and New Technologies with key players
Chapter 5 Manufacturing Cost Analysis
Chapter 6 Technology Progress, Development Process and Downstream Buyers
Chapter 7 Marketing Strategy Analysis, Distributors/Traders
Chapter 8 Automotive IoT Market Research Findings, Appendix and Data Source
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