London, United Kingdom, January 06, 2017 --(PR.com
)-- In the year 2015, the world’s automotive IoT market reached the value of USD 16.32 billion. This market is predicted to register remarkable growth at a 25.5% CAGR between 2016 and 2022 to go beyond the value of USD 80 billion.
Robust growth in the worldwide market for the automotive IoT will likely be propelled by rising R&D spending, enhancing importance of connectivity in vehicles, increasing number of telematics mandates in different countries and also ongoing development of advanced driver assistance systems (ADAS).
On the basis of applications, the major share of the global automotive IoT market belongs to the infotainment segment. This segment is expected to continue gaining traction through 2022.
North America ranks the top regional market for automotive IoT. The US is the key revenue contributor in the region. But, in the years to come the most robust growth will likely be seen in the APAC automotive IoT market, primarily due to escalating demand for infotainment and navigation services (especially in India and China), strong economic performance, rising population number and quick urbanization.
Some of the leading companies in the world automotive IoT market include Apple, AT&T, Audi AG, Ford Motor Company, Cisco Systems, General Motors, Intel Corporation., Google, International Business Machines Corporation, NXP Semiconductors N.V., Microsoft Corporation, Robert Bosch GmbH, Thales SA, Texas Instruments, Tomtom N.V. and Vodafone Group PLC.
Find further reliable information on the world’s automotive IoT market in the research report “Automotive IoT - Global Market Outlook (2016-2022)
” prepared by Stratistics MRC and available at MarketPublishers.com.
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