Asia-Pacific IoT in Automotive Market
Asia-Pacific is the fastest growing IoT in automotive market in the world. The major countries like China, India and Japan are adopting IoT at a fast pace, which is driving the adoption of IoT in Asia-Pacific automotive market as well. Increasing level of pollution in the Asian countries, especially in China, is a concern. So, the governments are shifting focus towards less CO2 emission and fuel efficient solutions where IoT enabled navigation and telematics play a great role by reducing carbon emission and providing real-time emission data. According to Netscribes, the Asia-Pacific IoT in automotive market is projected to grow at a compound annual growth rate (CAGR) of 31.37% leading to a revenue of USD 18.66 Bn by 2023.
Though Asia-Pacific is in its developmental stage in full adoption of IoT, the region is expected to register the highest CAGR among all the other regions. Countries like China and Japan have deep-rooted interest in technology. Thus, adoption of IoT in automotive can happen very quickly. Government initiatives for collecting traffic data for proper monitoring of vehicles is also an extremely positive initiative towards adoption of IoT technology in the Asia-Pacific countries.
Asia-Pacific IoT in automotive market is classified into three primary segments:
– based on connectivity form: tethered, integrated, embedded
– based on communication type: vehicle to vehicle, in-vehicle, vehicle to infrastructure
and based on application: navigation, telematics, and infotainment.
The navigation segment is expected to show the highest growth rate in the region owing to the government investments in IoT related infrastructure development and local business modernization in China, India and the Philippines for better navigation. Navigation in Asia-Pacific is quite difficult, given the congestion, road conditions and poor lighting in some parts of the region.
Key growth factors
A lot of focus on usage based insurance is being given in the Asia-Pacific region and there is a constant push towards penetration of automotive insurance. This is expected to drive the adoption of automotive IoT as it enables monitoring of driver behavior and car condition which are important data for automotive insurance companies.
Asia-Pacific is expected to become one of the most prominent markets by 2025 for IoT enabled cars owing to high growth in the automotive market and enhanced connectivity infrastructures across the region.
Threats and key players
Regulatory standard in Asia-Pacific has not evolved at the same pace as technology has evolved. Thus, rapid adoption of automotive IoT in this region is expected to be challenging in the upcoming years.
Major players in the Asia-Pacific IoT in automotive market are Cisco, Ford, IBM, Microsoft, AT&T, etc.
What’s covered in the report?
1. Overview of the Asia-Pacific IoT in automotive market.
2. Market drivers and challenges in the Asia-Pacific IoT in automotive market.
3. Market trends in the Asia-Pacific IoT in automotive market.
4. Historical, current and forecasted market size data for the Asia-Pacific IoT in automotive market segmentation by connectivity form (tethered, integrated, embedded) – by revenue (USD Bn).
5. Historical, current and forecasted market size data for the Asia-Pacific IoT in automotive market segmentation by communication type (vehicle to vehicle, in-vehicle, vehicle to infrastructure) – by revenue (USD Bn).
6. Historical, current and forecasted market size data for the Asia-Pacific IoT in automotive market segmentation by application (navigation, telematics, infotainment) – by revenue (USD Bn).
7. Historical, current and forecasted country-wise (China, India, and Japan) market size data (USD Bn) for the Asia-Pacific IoT in automotive market and its segmentations by connectivity form (tethered, integrated, embedded), by communication type (vehicle to vehicle, in-vehicle, vehicle to infrastructure), and by application (navigation, telematics, infotainment).
8. Analysis of the competitive landscape and profiles of major companies operating in the market.
o Understand the demand for IoT in automotive market to determine the viability of the market.
o Determine the developed and emerging markets where IoT for automotive market is provided.
o Identify the challenge areas and address them.
o Develop strategies based on the drivers, trends and highlights for each of the segments.
o Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.
o Recognize the key competitors of this market and respond accordingly.
o Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth.
o Define the competitive positioning by comparing the products and services with the key players in the market.