North America to Lead Global Automotive IoT Market Driven by Driverless Cars
United States/WA: The global Automotive Internet of Things market is estimated to account for US$ 165.5 Billion by 2025
Report Pages:[180 Pages]
Major Key Companies Involving in Automotive Internet of Things Market:
Apple, Inc., AT&T Inc., Audi AG, Cisco Systems, Inc., Ford Motor Company, General Motors, Google Inc., Intel Corporation., International Business Machines Corporation, Microsoft Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, Texas Instruments Inc., Thales Sa, and Tomtom N.V.
The Automotive Internet of things (“IoT”) refers to a global network of connected physical devices and components around the world interconnected via the web. These devices are usually equipped with Internet-enabled sensors which provide continuous data collection and transfer. The devices may include any one of a variety of technologies, including computers, consumer electronics, medical devices, or even vehicle engines. The systems are capable of sensing and interpreting data and processing them for usage in a dynamic way. These networks are used in many different industries, including automotive maintenance, fleet management, customer service, or distribution. In short, an automobile’s onboard computer is used to collect data, process them, and present them to the right party or parties in real-time.
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Increasing cases of automobile collisions due to human error is fostering the growth of the automotive internet of things market. According to the World Health Organization, approximately 1.35 million people die each year as a result of road traffic crashes. In order to reduce collision key players are developing self-driving vehicles. For instance, in October 2020, Ford Motor plans to launch its self-driving commercial business in 2022 with vehicles based on the Ford Escape Hybrid crossover. According to Coherent Market Insights analysis, 10% of self-driving vehicles of the total vehicles could decrease deaths by 1,100 in the U.S. caused due to collision and save US$ 38 billion per year.
North America is expected to hold the dominant position in the global automotive internet of things market and this is attributed to the growing deployment of driverless cars in the region. For example in 2017, Volvo has announced that they will supply 24,000 self-driving cars to Uber. Moreover, the presence of leading companies in this region is another driving factor for the growth of the automotive IoT market in this region for example Apple, Inc., AT&T Inc, Cisco Systems, Inc, etc.
- In January 2021, Tata Consultancy Services a global IT services, consulting, and business solutions organization, has launched the Autoscape
solution suite to enable connected and autonomous vehicle ecosystem players – such as automotive OEMs, suppliers, fleet owners, and start-ups - In September 2020, TomTom releases new tech for autonomous vehicles to better manage roads and weather
- In October 2020, Tesla has announced its plan to launch a self-driving vehicle
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