(MENAFNEditorial) IoT in Automobile Market by Offering (Hardware, Software, Services), by Communication Type (In-vehicle, Vehicle to Vehicle, Vehicle to Infrastructure) and Application - Forecast 2022
Market Highlights:
Internet of Things rather IoT is known as a concept or a paradigm that considers pervasive presence in the environment of a variety of things or objects that through wireless and wired connections and unique addressing schemes are able to interact with each other and cooperate with other things or objects to create new applications. It is basically the wireless connectivity of physical devices to achieve efficiency, business growth and quality. Also, internet of things in the automotive industry is helping the industry to redefine and reinvent. The automotive IoT transition is evolving through four phases.
The automotive industry redefining and reinventing because of application of internet of things. The industry has evolved through four phases. The first phase is connectivity and sensors progressively enabling passive monitoring, interaction, ambient awareness, and automation. The second phase added an interaction component. The transition to phase 3 will allow vehicles to be aware of what is happening in the immediate vicinity through Advanced Driver Assistance Systems (ADAS) sensors or even through vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I). Now, in the fourth phase introduces automation by making vehicles independent through driverless cars and autonomous.
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Major Key Players
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.) and others.
The global is expected to reach USD 83 billion by the end of 2022 with 27% CAGR during forecast period 2016-2022
Market Segments:
The Global IoT in automobile market has been segmented on the basis of offering, communication type, application and region. By offering, the market has been bifurcated into hardware, software, services.
On the basis of communication type, the market can be segmented as in-vehicle, vehicle to vehicle, vehicle to infrastructure.
On the basis of application the market can be segmented infotainment, navigation and telematics. Further, the market has been segmented into four regions which include- North America, Europe, Asia-Pacific and RoW.
Out of these, infotainment accounted for the largest market share because of device integration, high-speed connectivity, intuitive and multi-modal user interfaces in the systems installed in vehicles.
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Regional Analysis:
Regionally, North-America accounted for the largest market share because of the boom in the ICT sector, the automotive sector, and the transportation sector which resulted in the emergence of the connected vehicle ecosystem.
Asia-Pacific region is expected to grow over the forecast period, 2016-2022 especially in countries such as China and India countries because they are investing huge amount of money in the transportation sector.
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