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Internet of Vehicle Market Size, Share, Growth, Opportunities, and Forecast to 2024
Internet of Vehicle Market by Component (Hardware, Software, and Service), Technology (Bluetooth, Cellular, Wi-Fi, NFC, and Others), and Communication Type (Vehicle-to-Vehicle, Vehicle-to-Infrastructure, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2024
- Report Number: 188199
- Publish Date: 3-August-2018
- Pages: 239
- Tables: 73
Internet of Vehicle Market Overview:
Internet of Vehicles (IoV) helps a vehicle to connect to the nearby vehicle or other traffic infrastructure using a wireless network. Through this technology the vehicles send floating data to the base area located at long distances. It helps the user to locate the vehicle as well as the ones around. In addition to it, the vehicles detect the speed and distance of the nearby vehicle and manage self-speed accordingly. The global internet of vehicles market was valued at $66,075 million in 2017, and is projected to reach at $208,107 million by 2024, growing at a CAGR of 18.00% from 2018 to 2024.
The increased demand for GID, which is a prominent part of internet of vehicle market, is on a significant rise due to the security of the vehicle and safety issues which drives the growth of the internet of vehicle market.
The Wi-Fi segment led the market in 2017 and is expected to remain dominant in future. Furthermore, the vehicle-to vehicle communication segment dominated the overall internet of vehicle market share in the same year.
Increase in demand for vehicle tracking and driver safety and surge in adoption of IoT and cloud services are the major factors that fuel the growth of the internet of vehicle market. However, factors such as inefficiency in determining the exact vehicle position and loss of data due to obstacles such as landscapes hamper the market growth to a certain extent.
The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The Porters five forces analysis of the industry helps understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the internet of vehicle market growth.
Global Internet of Vehicles Market
The global internet of vehicles market is segmented into component, technology, communication type and region. Based on component, it is divided into hardware, software, and service. Based on technology, it is classified into Bluetooth, cellular, Wi-Fi, NFC, and others. By communication type, it is categorized into vehicle-to-vehicle, vehicle-to-infrastructure, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global internet of vehicles market include Ford Motor Co., Texas Instruments Inc., Audi AG, Intel Corporation, SAP, NXP semiconductors, Apple Inc., Google Inc., IBM Corporation, and Cisco Systems Inc.
Global Internet of Vehicles Market By Components
Global Internet of Vehicles Market By Communication Type
Global Internet of Vehicles Market By Technology
Top Impacting Factors
Factors such as rising internet penetration, growth associated with connected devices, increase in presence of automation solutions in automotive industry, introduction of Logistics4.0, drive the internet of vehicle market growth. However, inefficiency in determining the exact vehicle position and loss of floating data due to obstacles are expected to hamper the market growth during the forecast period.
Penetration of IoT and Cloud Services
Many organizations and personal user are adopting internet of vehicles, as it helps them to track fleet, trains, buses, and cars. IoV uses the sensors and presently available mobile phones and other gadgets to further the mobility of. In addition, the moving vehicles transmit a lot of information while travelling and cloud services provide the required platform. This in turn boosts the adoption of internet of vehicle.
Emergence of Global Identification (GID)
A vehicular GID is a communication gateway and is integrated with the global universal network connectivity. It is a smart in-vehicle sensor that provides global positioning, online identification of the vehicle, and the name of its owner. It acts as a virtual license plate of the vehicle. GID increases the usability of IoV; thus, fueling the market growth.
The future of IoV lies in the automation of vehicles. With the advancement of technology, the vehicles are geared up to slow down the speed after avoiding the warnings, on detection of any vehicle nearby and further, if necessary apply brakes or turn the wheels. The next generation of IoV would see a fully automated driver car.
Key Benefits for Stakeholders
- This study includes the analytical depiction of the global internet of vehicles market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2017 to 2024 to highlight the financial competency of the industry.
- Porters five forces analysis illustrates the potency of buyers & suppliers in the global internet of vehicles industry.
Internet of Vehicle Market Key Segments:
By Communication Type
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Ford Motor Company
- Texas Instruments Inc.
- Audi AG
- Intel Corporation
- NXP Semiconductors N.V.
- Apple Inc.
- Google Inc.
- IBM Corporation
- Cisco Systems Inc.
Table Of Content
Chapter: 1: INTRODUCTION
1.1. REPORT DESCRIPTION
1.3.1. Secondary research
Chapter: 2: EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
Chapter: 3: MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2.1. Top impacting factors
22.214.171.124. Top winning strategies
3.3. PORTER’S FIVE FORCES ANALYSIS
126.96.36.199. Rise in the trends of vehicle tracking and safety
188.8.131.52. Inefficient positioning of vehicle.
184.108.40.206. Automated functions
Chapter: 4: INTERNET OF VEHICLE MARKET, BY COMPONENT
4.2.1. Key market trends, growth factors and opportunities
4.3.1. Key market trends, growth factors and opportunities
4.4.1. Key market trends, growth factors and opportunities
Chapter: 5: INTERNET OF VEHICLE MARKET, BY TECHNOLOGY
5.2.1. Key market trends, growth factors and opportunities
5.3.1. Key market trends, growth factors and opportunities
5.4.1. Key market trends, growth factors and opportunities
5.5.1. Key market trends, growth factors and opportunities
5.6.1. Key market trends, growth factors and opportunities
Chapter: 6: INTERNET OF VEHICLE MARKET, BY COMMUNICATION TYPE
6.2.1. Key market trends, growth factors and opportunities
6.3.1. Key market trends, growth factors and opportunities
6.4.1. Key market trends, growth factors and opportunities
Chapter: 7: INTERNET OF VEHICLE MARKET, BY GEOGRAPHY
7.2.1. Key market trends, growth factors and opportunities
220.127.116.11. Market size and forecast, by component
7.2.7. Canada Internet of Vehicle market
18.104.22.168. Market size and forecast, by component
7.2.8. Mexico Internet of Vehicle market
22.214.171.124. Market size and forecast, by component
7.3.1. Key market trends, growth factors and opportunities
126.96.36.199. Market size and forecast, by component
7.3.7. France Internet of Vehicle market
188.8.131.52. Market size and forecast, by component
7.3.8. Germany Internet of Vehicle market
184.108.40.206. Market size and forecast, by component
7.3.9. Rest of Europe Internet of Vehicle market
220.127.116.11. Market size and forecast, by component
7.4.1. Key market trends, growth factors and opportunities
18.104.22.168. Market size and forecast, by component
7.4.7. Japan Internet of Vehicle market
22.214.171.124. Market size and forecast, by component
7.4.8. India Internet of Vehicle market
126.96.36.199. Market size and forecast, by component
7.4.9. Rest of Asia-Pacific Internet of Vehicle market
188.8.131.52. Market size and forecast, by component
7.5.1. Key market trends, growth factors and opportunities
184.108.40.206. Market size and forecast, by component
7.5.7. Middle East Internet of Vehicle market
220.127.116.11. Market size and forecast, by component
7.5.8. Africa Internet of Vehicle market
18.104.22.168. Market size and forecast, by component
Chapter: 8: COMPANY PROFILES
8.1. FORD MOTOR COMPANY
8.1.1. Company overview
8.2. TEXAS INSTRUMENTS INC.
8.2.1. Company overview
8.3. AUDI AG
8.3.1. Company overview
8.4. INTEL CORPORATION
8.4.1. Company overview
8.5.1. Company overview
8.6. NXP SEMICONDUCTORS N.V.
8.6.1. Company overview
8.7. APPLE INC.
8.7.1. Company overview
8.8. GOOGLE INC.
8.8.1. Company overview
8.9. IBM CORPORATION
8.9.1. Company overview
8.10. CISCO SYSTEMS INC.
8.10.1. Company overview
LIST OF TABLES
TABLE 01. GLOBAL INTERNET OF VEHICLE MARKET REVENUE, BY COMPONENT, 2015–2024 ($MILLION)
LIST OF FIGURES
FIGURE 01. GLOBAL INTERNET OF VEHICLE MARKET, 2017–2024