Global IoT in Automobile Market by Offering (Hardware, Software, Services), by Communication Type (In-vehicle, Vehicle to Vehicle, Vehicle to Infrastructure) and Application (Infotainment, Navigation, Telematics) - Forecast 2030

IoT In Automobile Market Overview:

The IoT in the Automobile Market is expected to help the market grow at a 25.5% CAGR by the end of the global forecast period of 2021-2030. The estimated market valuation by the end of the global forecast sums up to USD 286.8 billion. 

Iot is a crucial component of the auto industry. The use of IoT in the automotive sector also stimulates the market for automated devices that assist in the analysis of real-time data on fleet operators & vehicle users. Also, it has something to do with the internet of linked vehicles, which disperses three different types of communications: vehicle-to-infrastructure, vehicle-to-vehicle, and in-vehicle. The IoT in Automotive process involves incorporating IoT technology in the automotive sector to improve the comfort, productivity, and intelligence of automobiles. Smart apps can be used by connecting computer, digital, and mechanical equipment to automatically supply data transmission. In the automotive sector, IoT development aims to give real-time data and information on passengers.

Because of how quickly it is developing and expanding, the automotive IoT is transforming the automotive industry. The IoT makes driving and travelling safer and more efficient. From the standpoint of the automotive IoT, internet-connected vehicles have the capacity to identify problems and avoid failure. As automation and artificial intelligence technology advanced, autonomous vehicles grew in popularity in the automotive industry.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Industry News of IoT in the Automobile Market

March 2023

The agritech division of Mahindra Group unveiled on Thursday the Krish-e-Smart Kit, an IoT-based aftermarket product for agricultural machinery. According to a press release from agri-tech startup Carnot Technologies, the device gives extensive information about tractors & farm equipment with the help of GPS-enabled timetracking & remote monitoring of numerous metrics via a smartphone. According to the manufacturer, the tool helps fleet managers and equipment owners to increase profits, control maintenance expenses, reduce downtime for tractors, and prevent unauthorized use of their equipment.

The kit also has a sophisticated trip replay feature especially for monitoring tram as well as commercial transportation activity. The Krish-e Rental Partner Application is connected to the device. In addition, the app grants users pay-per-use access to a database of expensive farm equipment, according to the press release.

According to Ramesh Ramachandran, head and senior vice president of Krish-e Farm Equipment Sector at M&M Ltd., Krish-e Smart Kit presents the most economical and sustainable approach for farmers and companies to link and monitor their farm equipment.

COVID-19 Analysis: 

A glimpse of The Great Depression, the spread of the novel coronavirus has pushed both humanities, as well as the economy into a great crisis. The global economies on a large scale had imposed temporary and constant lockdowns to curb the spread of the pandemic. The lockdown might have helped in curbing the pandemic but has forced many productions and manufacturing units to stop production, in the meantime. The value chain analysis of the economy was also disrupted and had a major effect on the automotive industry also. 

The result of the COVID 19 had multiple effects and the industries are still struggling to come over. There is a prolonged demand for the demand of the customers related to the automobile sector that is expected to increase the revenues and cash flows of the manufacturers. 

Market Dynamics:

Drivers and Opportunities: 

The demand for the IoT in the Automotive Market Trends is witnessing an increase concerning real-time traffic, along with incident alerts. Also, there is a growth in the telematics mandates by the governments of different economies. There is a steep increase in the demand for assisted, as well as, automated driving, too. The government is extending the funds for the vehicle-to-vehicle, as well as, vehicle-to-infrastructure availability of cars, for the upcoming generations. There is also an emerging need for cars with smartphone features. All these are stimulating the market growth. 

Restraints:

There are prevalent concerns in the IoT in the Automobile Industry regarding security and data privacy that are major restraints in the growth process for the global growth of the market. 

Value Chain Analysis: 

The evolution of IoT in the Automotive Industry is bringing about real change but providing technological services of both wired and wireless connections to its target audience. The market is aiming to provide real-time data solutions to its users and is seeking growth in the quantum of telematics mandates from the end of the government sector. They are aiming to provide assisted driving and technology updates services for their cars and other automotive vehicles. 

Study Objectives: 

• To provide an elaborated market analysis along with the growth forecast for the market as a whole, the segments, and sub-segments


• To analyze the Global IoT in the Automobile Market concerning the geographical locations of the world


• Help in the provision of the market analysis studying the key market players and their on-field operations


• To analyze the market on the different segments like Type, Application, as well as Regions


• To draw a competitive market landscape and predict the growth by the end of the global forecast period of 2016-2022 

Segment Overview: 

Global IoT in the Automobile Industry has segments that are based on its Offering, Application, Type of Communication, as well as Regions. 

Global IoT in the Automobile Industry has segments that are based on its Offering, Application, Type of Communication, as well as Regions. 

Offering - The market includes hardware, services, as well as software services. 

Type of Communication - This market segment includes in-vehicle, vehicle to infrastructure, along with, vehicle to vehicle communication. 

Application: 

The applications responsible for the growth of the market size are telematics, infotainment, as well as navigation. Infotainment is expected to have the largest share in the market owing to reasons like high-speed connectivity, integration of the devices, as well as the multi-user interface that has been established in the vehicles.

Regional Insights: 

The IoT in the Automotive Market Size consists of geographical locations like Asian Pacific nations, North America, Europe, as well as the rest of the world (RoW). North America is expected to emerge as a dominant force in the market owing to the ICT, transportation, as well as automotive sector boost. Also, the market is opening its doors to the connected ecosystem of vehicles. 

China and India, which belong to the Asian Pacific regions are also expecting great growth by the end of the global forecast period of 2016-2022. The main reason behind this is that there is a growth in the quantum of investment in the automotive sector by both the governments, as well as the key market players. The aim is to expand the research, and development initiatives, bring about changes in the product portfolio and add the maximum advantages of the IoT in connecting the devices through wired, and wireless modes. 

Competitive Landscape: 

The study of the report has its objectives as studying the role of the key players and understand the competition amongst them. The key market players of the market include: 

• Texas Instruments Inc. (U.S.)


• Intel Corporation (U.S.)


• NXP Semiconductors N.V. (Netherlands)


• TOMTOM N.V. (Netherlands)


• Cisco Systems Inc. (U.S.)


• Microsoft Corp. (U.S.)


• Thales SA (France)


• IBM Corporation (U.S.)


• AT&T Inc. (U.S.)


• Vodafone Group (U.K.)


• Robert Bosch GmbH (Germany)


• Google Inc. (U.S.)


• Apple Inc. (U.S.)


• General Motors (U.S.)


• Audi AG (Germany)


• Ford Motor Company (U.S.) 

The USA-based companies are emerging as major contributors in the growth process of the automotive market. Ford, as well as General Motors are the major companies that are aiming to provide a high-scale connection of services and devices to its target audience. Also, the USA-based companies are evolving as the largest telematics and are attracting major growth for the global growth of the Automotive IT Market.