Registering 22.6% CAGR | The IoT in Automotive Market Size Reach USD 760.3 Billion by 2032 Globally
The IoT in automotive market outlook is driven by factors such as the adoption of smart vehicles, and growing demand for connected cars.
WILMINGTON, DE, UNITED STATES, December 9, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Registering 22.6% CAGR | The IoT in Automotive Market Size1 Reach USD 760.3 Billion by 2032 Globally ." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porterโs Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.The global IoT in automotive market was valued at $102.3 billion in 2022, and is projected to reach $760.3 billion by 2032, growing at a CAGR of 22.6% from 2023 to 2032.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ โ 263 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/4074
The global IoT in automotive market is experiencing growth due to an increasing demand for connected car services and features, rising focus on improving road safety and reducing accidents, and data-driven services and monetization. However, data privacy, security concerns, infrastructure limitations and interoperability challenges restrain the market growth to some extent. Nevertheless, vehicle to everything (V2X) communication and data driven services and monetization are expected to provide prolific growth opportunities in the upcoming years.
The IoT in Automotive market is segmented based on communication, connectivity, application, and region. By communication, the market is segmented into the vehicle to vehicle, in vehicle communication and vehicle-to-infrastructure. Further, by vehicle type, the market is segmented into passenger cars and commercial vehicles. By application, the market is segmented into autonomous driving, body control & comfort systems, infotainment systems, communication systems, connected services, and others. Region-wise, the market is classified into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa (LAMEA) including country-level analysis for each region.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/4074
Based on application, the Navigation segment held the highest market share in 2022 accounting for more than one-third of the IoT in automotive market revenue due to the growing adoption of connected vehicles presents a major growth opportunity for navigation applications in the IoT automotive market. However, the telematics segment is projected to manifest the highest CAGR of 25.8% from 2023 to 2032, owing to the incorporation of automotive telematics in electric vehicles (EVs).
Based on connectivity, the tethered segment accounted for the largest share in 2022 accounting for more than two-fifths of the IoT in automotive market revenue and is estimated to maintain its leadership status throughout the forecast period, as it enables the vehicle to access the internet through the connected device's data connection which allows passengers and drivers to use internet-based services, such as real-time traffic updates, weather information, and online music streaming, directly from the vehicle's infotainment system. However, the embedded segment is expected to portray the largest CAGR of 24.2% from 2023 to 2032, as it includes real-time traffic information, navigation, remote vehicle control, emergency assistance, vehicle diagnostics, and over-the-air software updates.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/4074
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global IoT in automotive market revenue and is estimated to maintain its leadership status throughout the forecast period, due to the increasing adoption of connected technologies and the Internet of Things (IoT), the automotive sector in North America has witnessed significant advancements and opportunities for innovation. However, the LAMEA region is expected to witness the fastest CAGR of 25.4% from 2023 to 2032, owing to Increasing connectivity, and government initiatives promoting smart mobility across the region.
Key players operating in the IoT in automotive market are AT&T, Cisco System, Inc., Google, Intel, Microsoft Corporation, NXP Semiconductors, Robert Bosch, Texas Instruments, Thales SA and TomTom.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (263 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/IoT-in-automotive-market/purchase-options
Covid-19 Scenario-
โ Prototype testing of hybrid aircraft, certification, and production were severely impacted during the pandemic, due to the need for increased economic growth to sustain development across the industry.
โ However, the airline industry has started to recover from losses incurred during the pandemic. As such, the development of the IoT in automotive market has given rise to several proposals for the certification and approval of various electric aircraft models by electric aircraft OEMs.
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๐ถ๐๐๐๐ ๐ป๐๐๐๐ ๐๐๐ ๐น๐๐๐๐๐๐:
1. Vehicle Diesel Engine Market : https://www.alliedmarketresearch.com/vehicle-diesel-engine-market-A125642
2. Automotive Radiator Market : https://www.alliedmarketresearch.com/automotive-radiator-market-A11411
3. Autonomous Driving SoC Market : https://www.alliedmarketresearch.com/autonomous-driving-soc-market-A323750
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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