Trends and Forecast for the Global Automotive IoT Market Trends, opportunities and forecast in automotive IoT market to 2025 by application (infotainment, navigation, and telematics), communication type (in-vehicle communication, vehicle-to-vehicle communication, and vehicle-to-infrastructure communication), connectivity form factor (embedded, tethered, and integrated), offering (hardware, software, and services), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Lucintel's latest market report analyzed that automotive IoT provides attractive opportunities in infotainment, navigation, and telematics applications. The automotive IoT market is expected to grow at a CAGR of 24%-26%. In this market, software are the largest segment by offering.
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Based on offering, the automotive IoT market is segmented into hardware, software, and services. The software segment accounted for the largest share of the market in 2020 due to growing adoption of connected cars and development of high speed networking technologies.
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The automotive IoT market is marked by the presence of several big and small players. Some of the prominent players offering automotive IoT include Texas Instruments, Intel, NXP Semiconductors, TOMTOM, IBM, Cisco, Microsoft, Thales SA, AT&T, Vodafone, Robert Bosch, Google, Apple, General Motors, Audi, and Ford Motor.
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