Iot In Automotive Market
IoT in Automotive Market- Global Industry Size, Share, Trend Analysis, Outlook, Growth, Opportunity and Forecast, 2017-2027, Segmented By Offering (Hardware, Software, Service), By Connectivity Form Factor (Embedded, Tethered, Integrated), By Communication Type (In-Vehicle, Vehicle-to-Vehicle, Vehicle-to-Infrastructure), By Application (Navigation, Telematics, Infotainment), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: November 2021
- Report ID: BWC1851
- Available Format: PDF
- Page: 193
Report Overview
The global IoT in automotive market is gaining significant traction because of the smart features of IoT such as updating real-time traffic and incident alerts that help people in saving time and responding to critical situations intelligently.Global IoT in Automotive Market- Industry Trends & Forecast Report 2027
The global IoT in automotive market was worth USD 47.4 billion in 2020 and is further projected to reach USD 227.7 billion by the year 2027, growing at a CAGR of 25.2% by 2027. The market is gaining significant traction because of the smart features of IoT, such as updating real-time traffic and incident alerts that help people save time and respond to critical situations intelligently. In addition, the presence of high-speed mobile networks will stimulate IoT growth in the forecast period, improving response times and vehicular communicat.
Source: BlueWeave Consulting
Global IoT in Automotive Market- Overview
New avenues have opened for automakers and buyers worldwide with the advent of the Internet of Things (IoT). By making accurate decisions and assisting the driver, automotive IoT reduces accident risks and simplifies driving. Other features of automotive IoT include predictive maintenance, which prevents vehicles from further damage. Increasing technological advancements have led automobile manufacturers to embed technologies, such as IoT, into their products. With the implementation of IoT in automotive market, transportation efficiency and management capabilities have increased. Connected cars and automated transport systems are just two of the growing applications that make up the IoT in the global automotive industry.
Global IoT in Automotive Market Forecast and Trends
Growth Drivers
Expanding Production of Automotive
The automotive industry is one of the fastest growing industries in the world due to the growing sales of automobiles and increasing demand for OEM technologies. This is expected to fuel the demand for IoT in automotive in the upcoming years. The manufacturers of developed economies, such as North America, focus on the early adoption of advanced technologies to gain the upper hand in the market. OEMs in emerging economies like China and India are expanding their production capacities to meet growing demand. As a consequence, IoT will likely drive the demand in automobiles throughout the forecast period.
Launch Of 5G Networks and Increasing Penetration of Cloud
IoT is a network of interconnected digital devices and, therefore, is completely cellular network-dependent. With the launch of 5G networks, the interconnectivity of devices will increase, which will lead to better data transmission and receiving. Furthermore, the growing adoption of the cloud and the emergence of new cloud data centers will also provide lucrative growth opportunities for expanding the storage of data generated by the Internet of Things. The cloud offers better scalability with limited resources, which will boost IoT adoption for the automotive industry.
Restraints
Increased Risk on Data Privacy
The IoT solutions and services generate a great deal of data to predict and make decisions. Data generated is transferred either on personal devices like smartphones or through cloud services. This exposes the users’ data to potential cyberattacks and thefts, a major restraining factor for the global IoT in automotive market. The cases of malware attacks are very common in IoT applications, and despite the devices offering advanced in-built security features, these are not sufficient to protect data.
Impact of COVID-19 on the Global IoT in Automotive Market
The unprecedented outbreak of COVID-19 tremendously halted the growth of the global IoT in automotive market. As the countries imposed strict lockdowns to curb the spread of the virus, the manufacturing of automobiles was completely restricted. Following the COVID-19, even after the restrictions were loosened, the shortage of body parts and a shortage of workers led to a halt in automotive production. This resulted in a sharp drop in the demand for IoT automotive during this period, causing huge losses to the market.
Global IoT in Automotive Market - By Offering
Based on offerings, the global IoT in automotive market is segmented into hardware, software, and service. The software segment held the largest market share in 2020. AI and apps make up 90% of the software in self-driving cars, while the hardware make up only 10%. Over the forecast period, self-driving cars and improved mobile networks are expected to drive the software segment. On the other hand, since hardware in IoT is used to establish connectivity among different elements, its market is also growing rapidly.
Global IoT in Automotive Market - By Connectivity Form Factor
Based on the connectivity form factors, the global IoT in automotive market is segmented into embedded, tethered, and integrated. Among these, the embedded segment accounts for the largest market share. However, integrated connectivity is anticipated to witness the highest CAGR during the forecast period because of the increasing app integration in vehicles. Integrating vehicles with other devices and infrastructure is enabling enhanced connectivity, including capabilities like smart traffic routing of self-driving vehicles, which will improve roadway efficiency and increase demand for integrated connectivity.
Global IoT in Automotive Market - Regional Insights
Geographically, the global IoT in automotive market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. North America dominates the global IoT in automotive market owing to the presence of major automobile manufacturers, such as General Motors (GM), Ford, Tesla, etc. Moreover, significant investment towards early adoption of advanced technologies also favors the market. A strong 4G network and growing penetration of 5G, which offers better connectivity among IoT components, are also expected to boost the region’s market growth during the forecast period.
Source: BlueWeave Consulting
Competitive Landscape
The leading players in the global IoT in automotive market are Ford Motor Company, Intel Corporation, Texas Instruments Inc., General Motors, Google Inc., Apple Inc., Cisco Systems Inc., Microsoft Corporation, Robert Bosch GmbH, Audi AG, Thales SA, IBM Corporation, TOMTOM NV, Vodafone, AT&T, NXP Semiconductors, and other prominent players.
The market is dominated by the leading industry players, such as Ford, IBM, Google, Microsoft, etc. However, with expanding technology, more and more IoT solutions startups are also emerging giving tough competition to these established players. The companies constantly launch new IoT services and solutions to stand out from the competition. Furthermore, the adoption of competitive strategies, such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Recent Developments
- In October 2021, Dellfer, a US-based IoT and cybersecurity startup, announced to have raised USD 8 million in Series A investment from mobility supplier DENSO and specialist cybersecurity private equity firm Option3.
- In October 2021, MG Motors, the leading British automotive company, announced its partnership with Jio to provide high-speed-car-connectivity with Jio’s eSIM and IoT solutions.
Scope of the Report
Attributes | Details |
Years Considered | Historical data – 2017-2020 |
Base Year – 2020 | |
Forecast – 2021 – 2027 | |
Facts Covered | Revenue in USD Billion |
Market Coverage | U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
Product Service/Segmentation | By Offering, By Connectivity Form Factor, By Communication Type, By Application, By Region |
Key Players | Texas Instruments Inc., Intel Corporation, General Motors, Ford Motor Company, Apple Inc., Cisco Systems Inc., IBM Corporation, Google Inc., Microsoft Corporation, Robert Bosch GmbH, Audi AG, NXP Semiconductors, TOMTOM, Thales SA, Vodafone, AT&T, and other prominent players. |
By Offering
- Hardware
- Software
- Service
By Connectivity Form Factor
- Embedded
- Tethered
- Integrated
By Communication Type
- In-Vehicle
- Vehicle-to-Vehicle
- Vehicle-to- Infrastructure
By Application
- Navigation
- Telematics
- Infotainment
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Research Framework
- Research Objective
- Product Overview
- Key Market Segments
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Market Drivers
- Expanding Production of Automobile
- Launch Of 5G Networks and Increasing Penetration Of Cloud
- Market Restraints
- Increased Risk on Data Privacy
- Market Challenges
- Negative Impact of the COVID-19 Pandemic
- Market Opportunity
- Growing Consumer Demand for Advanced Connectivity Features and Infotainment Systems
- Benefits of IoT Such as Predictive Maintenance
- Market Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Global IoT in Automotive Market Overview
- Market Size & Forecast by Value, 2017-2027
- Market Size and Forecast, By Segment
- By Offering
- Hardware
- Software
- Service
- By Connectivity Form Factor
- Embedded
- Tethered
- Integrated
- By Communication Type
- In-Vehicle
- Vehicle-to-Vehicle
- Vehicle-to- Infrastructure
- By Application
- Navigation
- Telematics
- Infotainment
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- By Offering
- North America IoT in Automotive Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Connectivity Form Factor
- By Communication Type
- By Application
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe IoT in Automotive Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Connectivity Form Factor
- By Communication Type
- By Application
- By Country
- Germany
- U.K.
- Russia
- France
- Italy
- Spain
- Rest of Europe
- Market Size and Forecast
- APAC IoT in Automotive Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Connectivity Form Factor
- By Communication Type
- By Application
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM IoT in Automotive Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Connectivity Form Factor
- By Communication Type
- By Application
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA IoT in Automotive Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Offering
- By Connectivity Form Factor
- By Communication Type
- By Application
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis (2020)
- Competitive Benchmarking by Operating Parameters
- Impact of COVID-19 on Global IoT in Automotive Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Texas Instruments Inc.
- Intel Corporation
- General Motors
- Ford Motor Company
- Apple Inc.
- Cisco Systems Inc.
- IBM Corporation
- Google Inc.
- Microsoft Corporation
- Robert Bosch GmbH
- Audi AG
- NXP Semiconductors
- TOMTOM
- Thales SA
- Vodafone
- AT&T
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Global IoT in Automotive Market Segmentation
Figure 2: Global IoT in Automotive Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2020
Figure 4: Global IoT in Automotive Market Size, By Value (USD Billion), 2017-2027
Figure 5: Global IoT in Automotive Market Share (%), By Offering, By Value, 2017-2027
Figure 6: Global IoT in Automotive Market Share (%), By Connectivity Form Factor, By Value, 2017-2027
Figure 7: Global IoT in Automotive Market Share (%), By Communication Type, By Value, 2017-2027
Figure 8: Global IoT in Automotive Market Share (%), By Application, By Value, 2017-2027
Figure 9: Global IoT in Automotive Market Share (%), By Region, By Value, 2017-2027
Figure 10: North America IoT in Automotive Market Size, By Value (USD Billion), 2017-2027
Figure 11: North America IoT in Automotive Market Share (%), By Offering, By Value, 2017-2027
Figure 12: North America IoT in Automotive Market Share (%), By Connectivity Form Factor, By Value, 2017-2027
Figure 13: North America IoT in Automotive Market Share (%), By Communication Type, By Value, 2017-2027
Figure 14: North America IoT in Automotive Market Share (%), By Application, By Value, 2017-2027
Figure 15: North America IoT in Automotive Market Share (%), By Country, By Value, 2017-2027
Figure 16: Europe IoT in Automotive Market Size, By Value (USD Billion), 2017-2027
Figure 17: Europe IoT in Automotive Market Share (%), By Offering, By Value, 2017-2027
Figure 18: Europe IoT in Automotive Market Share (%), By Connectivity Form Factor, By Value, 2017-2027
Figure 19: Europe IoT in Automotive Market Share (%), By Communication Type, By Value, 2017-2027
Figure 20: Europe IoT in Automotive Market Share (%), by Application, By Value, 2017-2027
Figure 21: Europe IoT in Automotive Market Share (%), By Country, By Value, 2017-2027
Figure 22: Asia-Pacific IoT in Automotive Market Size, By Value (USD Billion), 2017-2027
Figure 23: Asia-Pacific IoT in Automotive Market Share (%), By Offering, By Value, 2017-2027
Figure 24: Asia-Pacific IoT in Automotive Market Share (%), By Connectivity Form Factor, By Value, 2017-2027
Figure 25: Asia-Pacific IoT in Automotive Market Share (%), By Communication Type, By Value, 2017-2027
Figure 26: Asia-Pacific IoT in Automotive Market Share (%), By Application, By Value, 2017-2027
Figure 27: Asia-Pacific IoT in Automotive Market Share (%), By Country, By Value, 2017-2027
Figure 28: Latin America IoT in Automotive Market Size, By Value (USD Billion), 2017-2027
Figure 29: Latin America IoT in Automotive Market Share (%), By Offering, By Value, 2017-2027
Figure 30: Latin America IoT in Automotive Market Share (%), By Connectivity Form Factor, By Value, 2017-2027
Figure 31: Latin America IoT in Automotive Market Share (%), By Communication Type, By Value, 2017-2027
Figure 32: Latin America IoT in Automotive Market Share (%), By Application, By Value, 2017-2027
Figure 33: Latin America IoT in Automotive Market Share (%), By Country, By Value, 2017-2027
Figure 34: Middle East & Africa IoT in Automotive Market Size, By Value (USD Billion), 2017-2027
Figure 35: Middle East & Africa IoT in Automotive Market Share (%), By Offering, By Value, 2017-2027
Figure 36: Middle East & Africa IoT in Automotive Market Share (%), By Connectivity Form Factor, By Value, 2017-2027
Figure 37: Middle East & Africa IoT in Automotive Market Share (%), By Communication Type, By Value, 2017-2027
Figure 38: Middle East & Africa IoT in Automotive Market Share (%), By Application, By Value, 2017-2027
Figure 39: Middle East & Africa IoT in Automotive Market Share (%), By Region, By Value, 2017-2027
List of Tables
Table 1: Global IoT in Automotive Market Size, By Offering, By Value, 2017-2027
Table 2: Global IoT in Automotive Market Size, By Connectivity Form Factor, By Value (USD Billion), 2017-2027
Table 3: Global IoT in Automotive Market Size, By Communication Type, By Value (USD Billion), 2017-2027
Table 4: Global IoT in Automotive Market Size, By Application, By Value (USD Billion), 2017-2027
Table 5: Global IoT in Automotive Market Size, By Region, By Value (USD Billion), 2017-2027
Table 6: North America IoT in Automotive Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 7: North America IoT in Automotive Market Size, By Connectivity Form Factor, By Value (USD Billion), 2017-2027
Table 8: North America IoT in Automotive Market Size, By Communication Type, By Value (USD Billion), 2017-2027
Table 9: North America IoT in Automotive Market Size, By Application, By Value (USD Billion), 2017-2027,
Table 10: Europe IoT in Automotive Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 11: Europe IoT in Automotive Market Size, By Connectivity Form Factor, By Value (USD Billion), 2017-2027
Table 12: Europe IoT in Automotive Market Size, By Communication Type, By Value (USD Billion), 2017-2027
Table 13: Europe IoT in Automotive Market Size, By Application, By Value (USD Billion), 2017-2027
Table 14: the Asia-Pacific IoT in Automotive Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 15: the Asia-Pacific IoT in Automotive Market Size, By Connectivity Form Factor, By Value (USD Billion), 2017-2027
Table 16: the Asia-Pacific IoT in Automotive Market Size, By Communication Type, By Value (USD Billion), 2017-2027
Table 17: the Asia-Pacific IoT in Automotive Market Size, By Application, By Value (USD Billion), 2017-2027
Table 18: Latin America IoT in Automotive Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 19: Latin America IoT in Automotive Market Size, By Connectivity Form Factor, By Value (USD Billion), 2017-2027
Table 20: Latin America IoT in Automotive Market Size, By Communication Type, By Value (USD Billion), 2017-2027
Table 21: Latin America IoT in Automotive Market Size, By Application, By Value (USD Billion), 2017-2027
Table 22: The Middle-East & Africa IoT in Automotive Market Size, By Offering, By Value (USD Billion), 2017-2027
Table 23: The Middle-East & Africa IoT in Automotive Market Size, By Connectivity Form Factor, By Value (USD Billion), 2017-2027
Table 24: The Middle-East & Africa IoT in Automotive Market Size, By Communication Type, By Value (USD Billion), 2017-2027
Table 25: The Middle-East & Africa IoT in Automotive Market Size, By Application, By Value (USD Billion), 2017-2027
Table 26: Texas Instruments Inc. Financial Analysis
Table 27: Texas Instruments Inc. Business Overview
Table 28: Intel Corporation Financial Analysis
Table 29: Intel Corporation Business Overview
Table 30: GENERAL MOTORS Corporation Financial Analysis
Table 31: GENERAL MOTORS Corporation Business Overview
Table 32: FORD MOTOR COMPANY Financial Analysis
Table 33: FORD MOTOR COMPANY Business Overview
Table 34: APPLE INC. Financial Analysis
Table 35: APPLE INC. Business Overview
Table 36: CISCO SYSTEMS INC. Financial Analysis
Table 37: CISCO SYSTEMS INC. Business Overview
Table 38: IBM CORPORATION Financial Analysis
Table 39: IBM CORPORATION Business Overview
Table 40: Google Inc. Financial Analysis
Table 41: Google Inc. Business Overview
Table 42: Microsoft Corporation Financial Analysis
Table 43: Microsoft Corporation Business Overview
Table 44: Robert Bosch GmbH Financial Analysis
Table 45: Robert Bosch GmbH Business Overview
Table 46: Audi AG Financial Analysis
Table 47: Audi AG Financial Analysis
Table 48: NXP Semiconductors Financial Analysis
Table 49: NXP Semiconductors Business Overview
Table 50: TOMTOM Financial Analysis
Table 51: TOMTOM Business Overview
Table 52: Thales SA Financial Analysis
Table 53: Thales SA Business Overview
Table 54: Vodafone Financial Analysis
Table 55: Vodafone Business Overview
Table 56: AT&T Financial Analysis
Table 57: AT&T Business Overview
Market Segmentation
By Offering
- Hardware
- Software
- Service
By Connectivity Form Factor
- Embedded
- Tethered
- Integrated
By Communication Type
- In-Vehicle
- Vehicle-to-Vehicle
- Vehicle-to- Infrastructure
By Application
- Navigation
- Telematics
- Infotainment
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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