Global Internet of Vehicle Market valued approximately USD 49.9 billion in 2017 is anticipated to grow with a healthy growth rate of more than 33.13% over the forecast period 2018-2025. The major driving factor of global Internet of Vehicle Market are rise in trends of vehicle tracking & safety and surging adoption of Internet of Things. In addition, increasing demand for GID processor is on rise due to the security of vehicle is also a major driving factor of Internet of vehicle market. The major restraining factors of Internet of Vehicle Market are high risk of data loss and inefficiency in determining the exact vehicle position. Internet of things (IoT) is a worldwide network connecting all the smarts object together. It is the way in which all things are enabled to talk with each other’s. Whenever those smart things are connected over internet are restricted to only vehicles, then it is called as Internet-of-Vehicles. With increasing urban population and rapidly expanding cities, vehicle ownership has been increasing at an exponential rate. The Internet-of-vehicle helps us to connect the nearby vehicle or the other traffic infrastructure utilizing a wireless network. Internet-of-Vehicles also provide safety to the users. It helps the user to locate the vehicle as well as ones around.
The regional analysis of Global Internet of Vehicle Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America has dominated the market of total generating revenue across the globe due to increase in investment on automation and infrastructure with 43% share in 2017. Europe is also contributing major share in the global market of Internet of vehicle. Asia-Pacific region is also anticipated to exhibit higher growth rate / CAGR over the over the forecasted period 2018-2025 due to increasing adoption of vehicle tracking and safety.
The major market player included in this report are:
- Ford Motor Company
- Texas Instrument Inc.
- Audi AG
- Intel Corporation
- NXP Semiconductors N.V.
- Apple Inc.
- Google Inc.
- IBM Corporation
- Cisco Systems Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Communication Type:
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Internet of Vehicle Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers