Global Automotive Internet of things Market to Grow at a CAGR of 26.7% by 2023 - Driven by a Rising Demand for Smartphone Features in Cars
The global automotive IOT market to experience CAGR of 26.75% during the 2016-2023.
Automotive IoT is mainly concerned with internet of connected vehicles that distributes three kinds of communications such as vehicle-to-vehicle, vehicle-to-infrastructure and in-vehicle. In a vehicle, an Internet connection can be active for infotainment, navigation, and telematics applications.
The major boosting factor of the global automotive IOT market is self-driven cars expected to transform the IOT-enabled automotive market and predictive maintenance. The major driving factors are increasing demand for assisted & automated driving, rise in telematics mandates by governments and demand for smartphone features in cars. Moreover, lack of cellular connectivity coverage and cost burden on consumers are the key factors that are restricting the growth of the global automotive IOT market.
Moreover, the major challenges of the global automotive IOT market are security concern with data generated by IOT devices and variance in product life cycle of smartphones and embedded solutions in cars.
Key Topics Covered:
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Competitive Landscape
6. Global Automotive Iot Market By Region
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/3s258x/global_automotive
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