New York, June 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive IOT Global Market Report 2022" - https://www.reportlinker.com/p06284270/?utm_source=GNW
The global automotive iot market is expected to grow from $115.06 billion in 2021 to $125.59 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. The market is expected to grow to $219.61 billion in 2026 at a compound annual growth rate (CAGR) of 15.0%.
The automotive IOT market consists of sales revenue generated by entities (organizations, partnerships, sole proprietors) through IOT hardware, software and services to automotive customers. Automotive IOT is an integration of sensors, gadgets, software applications, and others designed to perform a specific or wide range of activities, such as fleet management, predictive diagnostics, and others.
The main types of offerings in the automotive IOT market are hardware, software, and services.The hardware market consists of sales of automotive IOT hardware by entities (organizations, sole proprietors, partnerships), which includes remote dashboard, devices for control, servers, routing or bridge device, and sensors.
The automotive IOT market is divided by connectivity into embedded, tethered, and integrated.The automotive IOT market is divided by application into infotainment, fleet management, predictive maintenance, vehicle security, automotive driver assistance system, and traffic management.
Lastly, automotive IOT market is divided by end users into original equipment manufacturers and aftermarket.
North America was the largest region in the automotive IOT market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive IOT market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Automotive predictive diagnostics solutions are a key trend gaining popularity in the automotive IOT market.The automotive companies are partnering with technology players for the integration of predictive diagnostics solutions into their existing models, which allows the upkeep frequency to be as low as possible to stop unplanned reactive maintenance, without incurring costs related to doing an excessive amount of preventive maintenance.
The predictive maintenance systems within the vehicle, continuously monitor, collects, record, transfer and evaluate data from in-vehicle sensors to keep track of vehicle functional metrics. For instance, in February 2022, Ashok Leyland, an India-based automotive manufacturer partnered with Syncron, a Sweden-based after-sales service provider, to integrate predictive vehicle maintenance solutions into Ashok Leyland Condition Monitoring Systems (CMS).
Automotive predictive diagnostics solutions are a key trend gaining popularity in the automotive IOT market.The automotive companies are partnering with technology players for the integration of predictive diagnostics solutions into their existing models, which allows the upkeep frequency to be as low as possible to stop unplanned reactive maintenance, without incurring costs related to doing an excessive amount of preventive maintenance.
The predictive maintenance systems within the vehicle, continuously monitor, collects, record, transfer and evaluate data from in-vehicle sensors to keep track of vehicle functional metrics. For instance, in February 2022, Ashok Leyland, an India-based automotive manufacturer partnered with Syncron, a Sweden-based after-sales service provider, to integrate predictive vehicle maintenance solutions into Ashok Leyland Condition Monitoring Systems (CMS).
In February 2021, Harman International, an automotive infotainment company acquired Savari with an undisclosed amount.With this acquisition, Harman wants to expand their company’s portfolio in automotive telematics and advanced driving assistance systems (ADAS) capabilities and enhance 5G Edge, multi-access edge computing (MEC) and smart infrastructure solutions.
Savari is an automotive infotainment company with V2X sensor solutions and also includes vVehicle-to-pPhone for pedestrians and bicyclists, vVehicle-to-vInfrastructure and vVehicle-to-vVehicle and iInfrastructure-to-pPhone.
The countries covered in the automotive IOT market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284270/?utm_source=GNW
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