Global Automotive IoT Market Size study & Forecast, by Communication (Vehicle to Vehicle, In vehicle communication, Vehicle to infrastructure), by Application (Navigation Infotainment, Telematics, Others), by Connectivity (Embedded, Tethered, Integrated),

Global Automotive IoT Market Size study & Forecast, by Communication (Vehicle to Vehicle, In vehicle communication, Vehicle to infrastructure), by Application (Navigation Infotainment, Telematics, Others), by Connectivity (Embedded, Tethered, Integrated), and Regional Analysis, 2023-2030

Global Automotive IoT Market is valued at approximately USD 102.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 22.6% over the forecast period 2023-2030. Automotive IoT integration is a range of elements into cars, including devices, sensors, cloud computing, and applications, to create a sophisticated system that links them together. The Automotive IoT market is expanding because of factors such as growing demand and adoption of smart vehicles coupled with the increase in popularity of connected cars. However, growing concerns for security, data privacy and the high cost of implementing IoT technology in vehicles tend to hinder the market.

The growth in the adoption of smart and connected cars has resulted in the growth of IoT in automotive sector is acting as a key driving factor for the market growth. According to Statista 2021, it is estimated that there are around 237 million connected cars in operation, which is likely to rise and reached 400 million connected cars by 2025. This rise in connected cars has resulted in a rise in demand for IoT in automotives. Moreover, the rise in IoT devices also results in the growth of the market. According to Statista 2023, the number of IoT devices is expected to nearly double globally from 15.1 billion IoT devices in 2020 to more than 29 billion IoT devices in 2030. This growth in IoT devices has resulted in growth in automotive connected to IoT. Furthermore, rapid technological advancement, strict government regulations related to vehicle safety and the rapid development of autonomous vehicles act as an opportunity for the growth of the market.

The key regions considered for the Global Automotive IoT Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to an increase in investment by the government, growing demand for smart cities and a rise in investment and innovation. Moreover, collaboration between automakers has been common in this region leading to the growth of the market. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as developing countries such as China, Japan, and South Korea in this region has major automotive manufacturing hubs. Moreover, an increase in disposable income coupled with urbanization and rapid 5G infrastructure development in this region resulted in growth of the market.

Major market player included in this report are:
Alphabet Inc.
Intel Corporation
Cisco System, Inc.
Thales Group
Robert Bosch GmbH
NXP Semiconductors
Microsoft Corporation
AT&T
Texas Instruments Inc.
TomTom International BV

Recent Developments in the Market:
In May 2023, Alphabet Inc., through its subsidiary Google. provided several new applications and services aimed toward automobiles, including YouTube, video conferencing, and gaming.Furthermore, it allows developers to integrate Internet of Things (IoT) and weather apps into Android Auto, broadening the categories of apps available for vehicles..
In March 2021, Microsoft Corporation collaborated with Argus. With this collaboration, companies provide automakers with the capacity they need to maintain surveillance on, location, and combat threats in the cloud. Global Automotive IoT Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Communication, Application, Connectivity, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Communication:
Vehicle to Vehicle
In vehicle communication
Vehicle to infrastructure

By Application:
Navigation
Infotainment
Telematics
Others

By Connectivity:
Embedded
Tethered
Integrated

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Alphabet Inc.
Intel Corporation
Cisco System, Inc.
Thales Group
Robert Bosch GmbH
NXP Semiconductors
Microsoft Corporation
AT&T
Texas Instruments Inc.
TomTom International BV

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