According to a new report, published by KBV research, The Global Automotive IoT Market size is expected to reach $340.8 billion by 2029, rising at a market growth of 19.6% CAGR during the forecast period.
The Navigation segment is showcasing a CAGR of 19.8% during (2023 - 2029). Adopting navigation systems that offer thorough information about traffic, alternate routes, road conditions, etc., will increase, fueling the market's expansion in this area. In addition to the navigation category, the entertainment and telematics segments will also experience strong growth during the projected period. The demand for infotainment systems in cars is very high. More demand for this segment has been generated by rising purchasing power.
The Embedded segment acquired maximum revenue share in the Global Automotive IoT Market by Connectivity Form in 2022 thereby, achieving a market value of $148.1 billion by 2029. The popularity of portable devices like wearables as well as multicore processors in military applications, along with a growing number of embedded systems-related research & development projects, are major drivers of the segment’s expansion. In addition, ADAS and electromobility solutions for hybrid and electric cars are other important elements.
The Software segment has shown the growth rate of 19.8 % during (2023 - 2029). Because of the government's increased investment and customers' increased purchasing power, smart automobile demand is high. The forecasted time frame is anticipated to be advantageous for the sales of autonomous vehicles. Greater usage of software enables improved experiences for drivers and passengers. Real-time information is very helpful for the passenger or the driver to take decisions, and software can help provide this information.
The In-vehicle Communication segment is leading the Global Automotive IoT Market by Communication Type in 2022 thereby, achieving a market value of $148.8 billion by 2029. In-vehicle communication is expanding quickly due to the rising demand for sophisticated navigation and infotainment systems in luxury and affordable cars. In order to connect an automobile to the Internet of Things (IoT) for navigation and entertainment services, Bluetooth and the Global Positioning System (GPS) must be installed.
The North America market dominated the Global Automotive IoT Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $116.5 billion by 2029. The Europe market is exhibiting a CAGR of 18.9% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 20.6% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/automotive-iot-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Intel Corporation, Robert Bosch GmbH, NXP Semiconductors N.V., STMicroelectronics N.V., Infineon Technologies AG, Texas Instruments, Inc., TomTom N.V., Harman International Industries, Inc. (Samsung Electronics Co., Ltd.), Renesas Electronics Corporation and EUROTECH S.p.A.
By Application
By Connectivity Form
By Offering
By Communication Type
By Geography
Companies Profiled
Unique Offerings 
