Automotive IoT Market by Offering (Hardware, Software, Service) Geography - Global Forecast to 2022
Automotive IoT Market is expected to grow from USD 15.87 Billion in 2015 to USD
82.79 Billion by 2022, at a CAGR of 26.75% during the forecast period. The
factors driving the automotive IoT market is real-time traffic and incident
alerts, growing number of telematics mandates by various governments, and the
growing demand for assisted & automated driving.
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Forecast to 2022"
The major players in the automotive IoT market
are Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), NXP Semiconductors
N.V. (Netherlands), TOMTOM N.V. (Netherlands), IBM Corporation (U.S.), Cisco
Systems Inc. (U.S.), Microsoft Corp. (U.S.) ,Thales SA (France), AT&T Inc.
(U.S.), Vodafone Group (U.K.), Robert Bosch GmbH (Germany), Google Inc. (U.S.),
Apple Inc. (U.S.), General Motors (U.S.), Audi AG (Germany) , Ford Motor
Company (U.S.).
On the
basis of connectivity form factor, the market is segmented into embedded,
tethered, and integrated form factors. Embedded connectivity solutions provide
vehicle-centric, high-reliability, and high-availability apps (such as eCall
and breakdown call, or bCall, services) which is driving the embedded
connectivity market
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In-vehicle communication to hold the largest share of the
automotive IoT market
In-vehicle communication is used to provide accurate route
information to a user while on road and also update the road-traffic controller
with detailed information about the conditions on a road. Road users receive
information such as up-to-date travelling times and the maximum speed limit.
They also receive warnings in case of accidents or other incidents. This way,
in-vehicle communication offers users an option to choose their route based on
relevant and up-to-date information.
Infotainment application to drive the growth of the
automotive IoT market
The introduction of cloud-based services for music and other
multimedia support such as games led to increase an infotainment application in
vehicles. Users look for multimedia support and smart apps for device
integration, high-speed connectivity, intuitive and multi-modal user interfaces
in the systems installed in vehicles. Internet radio, streaming music, and
social networking apps are the services which are commonly available.
North America to hold the major market share for the
automotive IoT market during the forecast period
North America, which comprises the U.S., Mexico, and Canada,
dominates the global automotive IoT market. It is expected that the growth in
the region would be the largest with regard to one of the major application
areas of connected vehicle vehicle to X communication. Also, the demand for
cars has witnessed a boost recently with the convergence of the ICT sector, the
automotive sector, and the transportation sector resulting in the emergence of
the connected vehicle ecosystem.
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