Automotive IoT Market Key Highlights:
- Market Size (2024): USD 34.94 Billion
- Projected Market Size (2034): USD 143.81 Billion
- CAGR (2023-2034): 15.20%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Automotive IoT Market
The automotive IoT market deals in providing IoT-based solutions for the automotive industry across the world. The main components of this industry consist of hardware, software, and services. The hardware segment is divided into semiconductor components and connectivity ICs. The software segment is bifurcated into platforms and solutions. The services segment is fragmented into support services and integration services. This market is likely to rise significantly with the growth of the automotive industry across the world.
The growing adoption of hybrid and electric vehicles for reducing CO2 emissions has boosted the market growth. Also, the increasing use of embedded and tethered systems in modern vehicles, along with the rising trend of in-vehicle communication, has positively shaped the industry. Moreover, the upsurge in demand for automated driving solutions and ADAS, coupled with technological advancements in the automotive sector, is crucial for industrial expansion. Furthermore, the growing application of IoT in telematics, navigation, and infotainment systems in cars is expected to boost the growth of the automotive IoT market.
The advancements in cloud-based connectivity, along with a growing emphasis on personalized driving and improved navigation in automotive, are expected to create ample growth opportunities for the market players in the future. In September 2024, Ericsson launched Ericsson Cradlepoint R980 and S400. These routers are designed to provide enterprises with secure, seamless, and scalable connectivity to enable AI, computer vision, data analysis, and other automotive applications across IoT environments and vehicle networks.
Automotive IoT Market Segmentation:
By Type
- Hardware
- Software
- Services
By Application
- Navigation
- Telematics
- Infotainment
- Other
Automotive IoT Market Companies:
- Google (US)
- Apple (US)
- OnStar (US)
- Cisco Systems (US)
- Microsoft (US)
- Intel Corporation (US)
- IBM Corporation (US)
- Robert Bosch (Germany)
- AutoNavi (China)
- NAVINFO (China)
- QiMing Information Technology (China)
- Anhui Wantong Technology (China).
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