The global IoT automotive market is anticipated to grow at a considerable CAGR of 25.0% during the forecast period (2021-2027). The increasing demand for the connected car is one of the prime factors affecting and driving the market. The connected car supports in accessing entertainment services, navigation system through 3rd party application along with providing safety to reduce the chances of accidents. Through the connected car if the accident occurs with the support of an e-call the person can contact the nearest emergency response network. Additionally, the European transportation authority had also instructed that e-Call is a must in cars. Through various offerings by connected cars, its demand is increasing leading to the growth of the automotive IoT market.
Browse the full report description of "Global IoT Automotive Market Research By Component (Hardware, Software, and Services), By Communication Type (In-Vehicle Communication, Vehicle-To-Vehicle Communication, and Vehicle-To-Infrastructure Communication), and By Application (Infotainment, Telematics and Navigation) Forecast Period 2021-2027" at https://www.omrglobal.com/industry-reports/iot-automotive-market
To gain on the opportunity key players operating in the global IoT automotive market had been adopting an expansion strategy. For instance, in December 2020, Huawei Technologies Co., Ltd., had got into an agreement with Chery Automobile Co., Ltd. (Chery) in order to provide the depth cooperation in various fields to offer effective services to customers including smart car solutions that will support in developing business at both sides.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
o By Component
o By Communication Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global IoT Automotive Market
By Component
• Hardware
• Software
• Services
By Communication Type
• In-Vehicle Communication
• Vehicle-To-Vehicle Communication
• Vehicle-To-Infrastructure Communication
By Application
• Infotainment
• Telematics
• Navigation
Global IoT Automotive Market by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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