OREANDA-NEWS.  Automotive IoT Market by Offering (Hardware, Software, Service), Connectivity Form Factor (Embedded, Tethered, Integrated), Communication Type (In-Vehicle, Vehicle-to-Vehicle, Vehicle-to- Infrastructure) Application, & Geography - Global Forecast to 2022..., Market Research Report: MarketsandMarkets.

According to the MarketsandMarkets forecast, the automotive IoT market size, in terms of value, is expected to grow from USD 15.87 Billion in 2015 to USD 82.79 Billion by 2022, at a CAGR of 26.75% between 2016 and 2022. The consumers are seeking in-car mobile connectivity to make their journey a richer experience for which auto manufacturers and telecom vendors are spending heavily in R&D. Real-time traffic alerts and incident alerts, growing number of telematics mandates by various governments, and advanced driver assistance systems (ADAS) are some of the major factors driving the market.

This report segments the automotive IoT market based on offerings, connectivity form factors, communication types, applications, and geographical regions. The market is further segmented on the basis of geography into various countries. The infotainment application is expected to hold the largest market share during the forecast period.

On the basis of connectivity form factor, the market is segmented into embedded, tethered, and integrated form factors. Embedded connectivity solutions provide vehicle-centric, high-reliability, and high-availability apps (such as eCall and breakdown call, or bCall, services) which is driving the embedded connectivity market.

In terms of communication type, in-vehicle communication accounted for the largest share in 2015. With the increase in infotainment and navigation applications inside the car, in-vehicle communication is growing rapidly in luxury as well as economy cars.

North America accounted for the largest share of the automotive IoT market in 2015. The U.S. is the major contributor to the growth of the market in North America. Presence of major companies such as Ford and General Motors who have been proving connectivity services is the major factor driving the market. However, the market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to huge demand for IoT-enabled cars from China and India.

Lack of cellular connectivity and privacy concern limit the use of IoT in automobiles. Due to the limited network connectivity on high-speed highways, the information and in-car services are not properly delivered to drivers. Additional cost burden on consumers by telecom service provider companies also limits the use of Internet for connected vehicles.

The major players in the automotive IoT market are Texas Instruments Inc. (U.S.), Intel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), TOMTOM N.V. (Netherland), IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), Microsoft Corp.(U.S.), Thales SA (France), AT&T Inc. (U.S.), Vodafone Group (U.K.), Robert Bosch GmbH (Germany), Google Inc. (U.S.), Apple Inc. (U.S.), General Motors (U.S.), Audi AG (Germany), Ford Motor Company (U.S.). General Motors (U.S.) is expected to hold the first position in manufacturing connected cars. The Company designs, manufactures, and markets cars, crossovers, trucks, and automobile parts worldwide. General Motors announced that its Onstar unit, in collaboration with AT&T (U.S.), would start providing the high-speed LTE network service in its vehicles manufactured in late 2014 and to be rolled out in 2015.