Industrial Internet of Things (IIOT) for Automotive Market Is Expected To Reach USD 11.31 Billion By 2027 At A CAGR Of 33 Percent.
A report on the Industrial Internet of Things (IIOT) for Automotive Market by Stellar Market Research offers a thorough analysis for the forecast period of 2021 to 2027.
Industrial Internet of Things (IIOT) for Automotive Market Scope:
The report provides in-depth market insights for market participants, such as estimates of market size and trends, details on the history and present state of the industry, and an explanation of complicated market numbers in plain language. Every industry sector is examined in the report, with an emphasis on significant companies including market leaders, laggards, and new entrants. The report includes a thorough PESTLE analysis for several nations. The report is helpful for investors because it provides a complete perspective of the competitive landscape of the top companies in the Industrial Internet of Things (IIOT) for Automotive market in terms of revenue, financial state, portfolio, growth plans, and regional presence.
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Industrial Internet of Things (IIOT) for Automotive Market Overview:
The auto industry is among the many areas that the Internet of Things (IoT) is changing. IoT innovations help the car industry come up with innovative and sophisticated plans. IoT has increased obvious transportation competence in the auto sector, for instance, through associated vehicle arrangements, Advanced Driver-Assistance Systems (ADAS), in-vehicle infotainment frameworks, route and telematics arrangements, and so forth. The significance of IoT in cars cannot be ignored by the automotive industry or organisations associated to it.
Industrial Internet of Things (IIOT) for Automotive Market Dynamics:
While IIoT implementations can illogically improve operational efficiencies, they also reveal potential new attack surfaces and security targets when potentially not properly protected. Everything, from highly valued resources or administrations to fundamental tasks in the cloud to process control frameworks in digital actual frameworks to fundamental business and functional information, can theoretically become defenceless against cyber-attacks. The IBV teamed up with Oxford Economics to analyse 700 leaders in order to better understand the IIoT security risks and recommendations. They speak with 700 firms across 18 countries, 135 of which are automotive, that are implementing IIoT in their facilities.
Machine/modern mechanisation is the driving force behind 76 percent of original equipment manufacturers (OEMs) and 84 percent of suppliers’ list of IIoT applications. Then, 58 percent of OEMs and 75 percent of suppliers reported having applications for robotic work processes. Surprisingly, foresight support applications did not rank as well as expected.
Fleet and driver management is the most current IoT use case in the automotive sector. It makes use of the Internet of Things and offers managers numerous advantages in their daily corporate operations. Nevertheless, a significant advantage is that IoT applications in cars can work together to monitor driver execution.
A real-time vehicle tracking system is a complete security solution. This technology uses several methods, such as GPS, to help locate a car. There are several other satellite-based and ground-based navigation systems in use. The vehicle has the tracking system fitted. Additionally, it provides precise real-time position and data. A computer can be used to save this information and use it for later research.
Industrial Internet of Things (IIOT) for Automotive Market Regional Analysis:
The North American region is expected to hold the major share of the Industrial Internet of Things (IIOT) for automotive market over the forecast period. The North American region is expected to hold the major volume of the Industrial Internet of Things (IIOT) for automotive market over the forecast period. The growth of the North American automotive market is largely due to the United States. Large firms like Ford and General Motors, which have been offering connectivity services, are the industry’s driving forces. Additionally, the U.S. has the largest telematics sector, which is drawing customers in the automotive IoT market.
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Industrial Internet of Things (IIOT) for Automotive Market Segmentation:
By Component:
- Hardware
- Software
- Services
By Application:
- Design & Production
- Assembly
- Quality inspection
- Logistics & Inventory Management.
Industrial Internet of Things (IIOT) for Automotive Market Key Competitors:
- Accenture (Ireland)
- Capgemini (France)
- CISCO (USA)
- Cognizant (USA)
- HCL Technologies Ltd. (India)
- Hortonworks (California, USA)
- IBM (USA)
- PTC (USA)
- SAP (Germany)
- Siemens (Germany)
About Stellar Market Research:
A consultancy company in India named Stellar Market Research was founded in 2018. Its primary goal is to aid clients in achieving their goals for organisational change through consulting services and long-term planning. The company provides analytical comments on reports that give clients a strategic advantage with the help of its wide network and in-depth industry experience. Its keen focus on secondary market analysis, consumer buying patterns, and price fluctuations offers clients a market portfolio that will either help their organisation strategize and take the course of action that will result in incredible growth and market dominance or allow it to establish a long-lasting presence.
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