Automotive IoT Market is expected to grow at a significant CAGR during the forecast period from 2021 to 2027. The factors that are contributing significantly to the growth of Automotive IoT market includes government funding for next-generation communication technologies such as vehicle-to-vehicle and vehicle-to-infrastructure communication; increasing demand for smartphone features in cars; increasing awareness towards safety and security of the passengers; and growth in automobile industry. With connectivity and smart devices gaining popularity in automotive sector, the manufactures in this industry are leveraging with technologies such as IoT, Big Data Analysis, and AI to enhance the business benefits coming in with the digital revolution. Automotive sector is changing at a rapid pace.
The North America is expected to be dominating in the IoT Automotive market owing to the presence of well-established technological infrastructure. In addition, investment from various IoT players in the region is another factor responsible for the regional growth. Europe is another significant market and holds a considerable market share in the global Automotive IoT market. Moreover, APAC is estimated to be growing at a faster pace. High capital expenditure and maintenance cost, as well as security and privacy issues hamper the market growth. Some of the players operating in the Automotive IoT market are Google Inc., Texas Instruments Inc., Audi AG, IBM Corporation, Cisco Systems Inc., and several others.
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A full report of Global Automotive IoT Market is available at: https://www.orionmarketreports.com/automotive-iot-market/51895/
The following Segmentation are covered in this report:
By Type
- Hardware
- Software
- Services
By Application
- Navigation
- Telematics
- Infotainment
- Others
By Region
North America:
- US
- Canada
Europe:
- France
- Italy
- Germany
- UK
- Rest of Europe
Asia Pacific:
- India
- China
- Japan
- Australia
- Rest of APAC
The report covers the following objectives:
- Proliferation and maturation of trade in the global Automotive IoT Market.
- The market share of the global Automotive IoT Market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Automotive IoT Market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Automotive IoT Market.
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
