Automotive IoT – What’s driving the market Forward?

As per a recent research study, automotive IoT market is set to chart significant growth, through the period ending 2025. It will lead the market present players with lucrative growth opportunities and a higher market worth.

With Internet of Things (IoT), gaining traction across industry verticals, it does not come as a surprise that the world is seeing more and more connected vehicles than it did ever in the history of automobiles. Thus, it would not be wrong to say that the reason stakeholders have keen focus on the cognitive IoT is because it is transformative and promising.

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The fact that these can analyze data in real-time and can provide valuable insight on the health of the vehicle, including processes, strongly goes in favor of its popularity.  Besides, it can optimize user experience in a major way and with disposable income rising worldwide, this is not something too hard to afford for a vast majority of people.

The global automotive IoT market is fragmented and prominent names in the market landscape include Apple Inc., IBM Corporation, Cisco Systems Inc., Microsoft Corp., Intel Corporation, NXP Semiconductors N.V., Texas Instruments Inc., TOMTOM N.V., Thales SA, AT&T Inc., Vodafone Group, Robert Bosch GmbH, Google Inc., General Motors, Audi AG, and Ford Motor Company.

Region-wise, North America will hold a dominant position owing to a massive demand for IoT- based products, particularly from the developed regions such as the United States (U.S.) and Canada. Besides, these are regions that are marked by presence of some of the most prominent names from the global automotive IoT market landscape. High buying power and ease of using technology is leading to much growth in the market.

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Another region that will show promising numbers in the market is the Asia Pacific region, owing to a number of developing economies performing extremely well on the economic front.

Automotive IoT Market: Innovations Promises Big Opportunities

Automotive IoT market is predicted to witness a major growth in the near future. However, the road to growth will not easy for all players in the automotive IoT market. The term ‘automotive IoT’ is used for denoting a combination of various Internet of Things (IoT) technologies which power automotive. IoT technologies promise safer, smarter, and more efficient vehicles and vehicle related infrastructure. However, getting there is expected to be a challenge as initiatives like smart cities are still in their nascent stages and innovation continues to knock on doors on conventional systems which are completely unprepared.

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Automotive IoT market offers many products which are expected to propel its growth in the short run. These products include advanced driver assistance systems, navigation solutions, connected car solution for traffic management, and in-vehicle infotainment systems. Additionally, in the long run, the market players can solve global challenges of traffic management and accident fatalities through vehicle to vehicle communication, and vehicle to infrastructure applications as well. Rise of 5G technology, growing benefits of IoT devices for vehicle consumers, and large penetration of internet globally are expected to drive significant growth for the automotive IoT market in the near future.

Communication and Infotainment Systems to Drive Robust Growth

In-vehicle communication and infotainment systems are capturing the imagination of vehicle users in unique and engaging manners. Communication systems provided by new companies like Tesla are making way for a completely-hands-off driving experience. Additionally, it promises to make driving a lot safer and richer experience, especially in countries like the USA. The large geography of these countries necessitates the reliance on driving long miles every day to get to work. Costs remain a major challenge for adoption but with economies of scale, these systems can safe valuable human efforts and lives in the process. It is expected to drive demand for luxury vehicles in the near future and register significant revenue growth for the automotive IoT market.

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High speed connectivity, interconnected devices, and growing demand for on-board entertainment are also expected to drive growth for the automotive IoT market.

Wide Advantages to Enhance Adoption of Automotive IoT

San Francisco, California, October 16, 2017: Proliferating vehicle connectivity to bolster the growth of the global market for automotive IoT, states TMR Research in a research report. The report is titled, “Automotive IoT Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.”

Current day vehicles are winding up more associated than any time in recent memory. The rising level of availability in vehicles is empowering new plans of action. With the point of picking up an aggressive edge in the seriously focused worldwide auto industry, automakers, specialist organizations, and providers are expanding their emphasis on cognitive IoT as a standout amongst the most encouraging transformative powers.

Associated vehicles are presently winding up progressively fit for breaking down ongoing information, giving new bits of knowledge about the general condition of different parts of a vehicle and its inner procedures to vehicle clients and armada administrators, helping altogether streamline their experience. Data is gotten from vehicles and in-vehicle information to comprehend the drivers, decreasing the quantity of mischances from the present normal, diminish fuel expenses, and lift profitability. Architects are making utilization of associated vehicle information all through the vehicle’s lifetime to upgrade and enhance its functionalities and maintain a strategic distance from quality issues and the likelihood of reviews.

Looking forward, one thing can be expressed without question – innovative advances will assume a basic part in the improvement of automotive IoT market. The move from traditional car frameworks to totally associated ones has the capability of essentially achieving a large group of advantages as far as fuel utilization, diminishment of the danger of mishaps, and boosting profitability. In any case, bringing this vision into reality will require that the transportation biological community accomplishes an abnormal state of joint effort and an immense arrangement of innovative advances crossing basic fronts, for example, network advances and the vehicle foundation. This write about the worldwide automotive IoT market gives a definite diagram of the market’s available extent of advancement and additionally its future capability of development.

The Internet of Things (IoT) is reshaping a few divisions, including car. With IoT, automobiles are presently furnished with esteem included administrations and applications, for example, robotized driving and ongoing activity cautions to enhance the general driving background. Inferable from expanded extra cash among the urban populace and interest for mechanically propelled items, the car segment is as of now prospering. This factor is pondering emphatically worldwide automotive IoT market, which is anticipated for a solid development rate amid the gauge time of 2017 to 2025.

Automotive IoT makes for a dynamic market and this report is an exhaustive examination of the present circumstance of the items and innovation. In light of an inside and out investigation of all the central point that are relied upon to impact the request soon, the report assesses the future condition of the market. It likewise contains a devoted area on organization profiles, wherein various key players have been examined for their piece of the pie, products portfolio, geographical presence, and activities pertaining to research and development. Region-wise, the global market for automotive IoT is likely to be led by North America owing to demand from countries such as Canada and the U.S. These countries have the leading awareness levels and the maximum purchasing power. The top drawer companies operating in the market are Ford Motor Company, Audi AG, General Motors, Google Inc., Robert Bosch GmbH, Microsoft Corp., and IBM Corporation, among many others.

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