US IoT in automotive market is expected to witness a significant growth with the CAGR of approximately 20% during the forecast period. Automotive sector is changing at a rapid pace. One of the factors that are indicating the wellbeing of a country is development in transportation. One of the uses of IoT in transportation is its application in electrical vehicle. It is an important tool to reduce the fuel cost as well as the impact of global warming. IoT in transportation eliminates the problems regarding poor fleet management through better analytics and control such as monitoring idling, fuel consumption, travel conditions, and travel time between points.
Connected cars along with the IoT enabled car offers opportunities for consumer as well as automotive manufacturers. Connected car for the consumers is the integration of traffic and navigation information, entertainment, and advanced features including remote diagnostics and maintenance, safety and emergency assistance. While for the manufacturers, it enables valuable insights into vehicle operations and performance, safety services for the lifetime of a vehicle, remote diagnostics, and creates better interaction with customers. Also, the number of automobile production is increasing at a significant rate, in turn creating new opportunities for the IoT in the automobile sector.
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US IoT in automotive market is segmented on the basis of communication component, communication type, and application. Based on the communication component, the market is segmented into hardware, software, and services. Based on the communication type, the market is segmented into in-vehicle communication, vehicle-to-vehicle communication, and vehicle-to-infrastructure communication. Further, based on the application, the market is segmented into infotainment, telematics, and navigation.
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US IoT in Automotive Market Segmentation
By Communication Component
- Hardware
- Software
- Services
By Communication Type
- In-Vehicle Communication
- Vehicle-To-Vehicle Communication
- Vehicle-To-Infrastructure Communication
By Application
- Infotainment
- Telematics
- Navigation
Company Profiles
- AT&T Inc
- AUDI AG
- BMW AG
- Cisco Systems Inc.
- Ford Motor Company
- Honda Motor Company, Ltd.
- Honeywell International Inc.
- Robert Bosch GMBH
- Tesla
- Toyota Motor Corp.
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