New report examines the Automotive IoT market forecast to 2022

Automotive IoT Market Overview:

Planet Market Reports study identifies the growing market for wearable technology in industries to be one of the primary growth factors for the IoT market in automotive industry. IoT is widely used in several industries contributing towards businesses steadily incorporating wearables in their product portfolio. Engineers are developing wearable devices integrated with advanced sensor technologies and focusing on the miniaturization trend. This trend has resulted in wearable devices equipped with tiny sensors and electronic components to improve human ergonomics and decrease fatigue-related issues. These devices aid in asset monitoring, and tracking human resources and inventory in industries. Our market analysts estimate that the market will grow steadily at a CAGR of greater than 33% by 2021.

Automotive industry has widely adopted virtual reality due to the prospect of cost and time reductions. Automotive applications such as manufacturing workstation optimization, vehicle design, and assembly training make use of VR. Automotive companies use VR for the virtual environment to determine the vehicle’s performance in various environments and car crashes. VR and IIoT collectively result in better designs for automobiles, speed-up the manufacturing processes, and help in delivering customer preferred standards. The integration of virtual reality in automotive industry is identified to be one of the key trends contributing towards the growth of the IIoT market in automotive industry. The IoT market in automotive industry is significantly concentrated owing to the presence of few key players offering moderately differentiated products. High adoption of IoT in the automotive industry provides growth potential for the new players. The entry of new players will cause price war as they offer products and services at low rates. Higher adoption and penetration of IoT in the automotive industry is resulting in profitability for the established players in the automotive IIoT market.

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Automotive IoT11

The global Automotive IoT industry is provided in the report based on product scope and market status & outlook. The market is segmented on the basis of type, end-users/application, and geography. By type, the market is further bifurcated into Extreme File Hardware, Software, Services. The report provides information about the production, price, revenue, market share, and growth rate of each type. Application wise, the market is segmented into Extreme File Navigation, Telematics, Infotainment, OtherRegarding this segment, this report focuses on the status and outlook for major applications/end users, consumption, market share, and growth rate. Geographically, the market has been analyzed across North America, Europe, China, Japan, Southeast Asia, and India. The status and prospect through 2012-2022 for each of these regions are listed in the report.

The key players which provide solutions in the global Automotive IoT market include 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. Information about the production, capacity, price, revenue (value), and market share of each of these manufacturers from 2012 to 2017 are clearly described in the report.

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The trends and marketing strategies such as mergers and acquisitions, adopted by each of the manufacturers provide an understanding of the level of competitiveness prevailing in the industry.

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