Top Internet Of Vehicle Companies

Internet Of Vehicle Market Competitive Landscape

To understand the competitive landscape, we are analyzing key Internet Of Vehicle Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Internet Of Vehicle Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

• rnet Of Vehicle Market size was valued at USD 95.62 billion in 2021 and is poised to grow from USD 115.81 billion in 2022 to USD 351.71 billion by 2030, growing at a CAGR of 21.3% in the forecast period (2023-2030).
• Due to concerns over vehicle security and safety, which are key factors in the expansion of the internet of vehicles market, the demand for GID, a key component of that market, has significantly expanded. In previous years, the market was led by the Wi-Fi segment, and this trend is predicted to continue. Additionally, the entire internet of vehicles market share was controlled by the vehicle-to-vehicle communication category in the same year. The market for the internet of vehicles is expanding as a result of rising demand for driver and vehicle tracking, as well as increased IoTand cloud service usage. However, limitations like the difficulty in pinpointing the precise location of the vehicle and data loss as a result of impediments like terrain limit market expansion to some extent. In addition to safer roads and decision-making based on precise data collection and analysis, improved city infrastructure and traffic management also benefit governments and individual users. IoV also prepares the way for a wider uptake of autonomous driving and carsharing, which is a significant cost-saving solution for both people and cities. The key reasons propelling the growth of the internet of vehicles market are the rise in demand for vehicle tracking and driver safety, as well as the rising usage of IoT and cloud services. Market expansion is, however, somewhat constrained by issues like the difficulty in detecting the precise vehicle position and data loss as a result of barriers like terrain.
• Asia Pacific is anticipated to hold the largest Internet Of Vehicles Market share. Supportive regulatory measures are being implemented in Japan to facilitate IoV architecture testing and boost engineering capability. China is also the world leader in 5Gnetworking in terms of adoption rate and implementation due to its early deployment. Federal policies and new IoV standards are being developed quickly nationwide. These elements are therefore considered responsible for the area's quick market expansion. With major investments in the internet of cars sector, driven by vehicle security, infotainment, and fleet management, Europe is also predicted to witness significant market growth. Priorities for investment will be on lowering risks associated with driving and raising situational awareness, with a focus on V2I and V2V solutions.
• Global Internet Of Vehicle Market Dynamics
• Internet Of Vehicle Market Driver
• Implementation of Traffic Management to Drive Market Growth
• Traffic management is generating significant revenue for the internet of vehicles market, with applications that range from smart traffic lights that can optimize traffic flow by assessing the current road situation to weather-adaptable lighting systems. Furthermore, sensors can guide drivers to open parking spaces, and beacons and rescue services can be automatically notified when drivers are involved in an accident via CCTV cameras that provide real-time data. As a result, the increasing use of IoV in traffic and parking management will drive market growth.
• Internet Of Vehicle Market Restraint
• Rising Security Concerns
• The internet of vehicles establishes a network of connected devices and integrates various services, technologies, and communication protocols, raising concerns about information security. It exposes the system to various forms of malicious interference, such as distributed denial-of-service (DDoS) attacks. They can be directed at various levels, such as the vehicle or the communication network that is transferring the data. In IoV, vehicle components including steering wheel, brakes, GPS, accelerator, and alarms can be remotely accessed, and a successful breach or hack can result in fatalities.
• Global Internet Of Vehicle Market Competitive Landscape
• The Global internet of the vehicle market is relatively fragmented, with a high level of competition. Few large players, like Ford Motor Company, Texas Instruments Inc., Audi AG, Intel Corporation, SAP, Apple Inc., Google Inc., IBM Corporation, and Cisco Systems Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other enterprises to enhance their market share and profitability.
• Internet Of Vehicle Market Recent Developments
• In June 2022, Intel reaffirmed its intention to employ technology to improve Indian roads' safety. The Union Minister for Road Transport and Highways, Shri Nitin Gadkari, inaugurated the Safety Pioneers Conference in New Delhi, where Intel brought together top businesses like technology and transportation providers, automakers, and academic institutions, and the government to work together and develop solutions to issues relating to road safety. The partnership will serve as a catalyst to promote regional ideas in addition to saving lives on the roads. The business highlighted Intel Onboard Fleet Services (Solution), an AI-powered fleet safety solution for commercial vehicles, as part of its commitment to employing technology to improve road safety.
• In February 2021, Ford and Google joined hands to develop unique capabilities and services for Lincoln and Ford customers. This six-year-old partnership would enable the company to power millions of future Lincoln and Ford vehicles by Android with Google services and applications. At the same time, it would help Ford to boost its transformation plan.
• Global Internet Of Vehicle Key Market Trends
• Manufacturers hope to transition to a cloud-based electrical/electronic (E/E) vehicle architecture as the 5G network develops. Image processing and other tasks that require a lot of computing power can be moved to the cloud. Among other advantages, it improves optional efficiency and processing capacities, both of which are important to meet future mobility demands.
• Global Internet Of Vehicle Market SkyQuest Analysis
• SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
• According to our Internet Of Vehicles Market analysis, the market for connected automobiles is anticipated to increase quickly due to the rising number of automotive accidents around the world. The market for the internet of vehicles is expanding as a result of rising demand for driver and vehicle tracking, as well as increased IoT and cloud service usage. However, limitations like the difficulty in pinpointing the precise location of the vehicle and data loss as a result of impediments like terrain limit market expansion to some extent. A vehicle GID functions as a communication gateway and is connected to the worldwide universal network. North America appears to be the market's largest contributor and consumer at the moment. This might be a result of improved infrastructure development and supply for this product. A significant factor is the region's growing acceptance of electric vehicles by the general public. The Asia Pacific region has a great deal of potential to quickly challenge North America as the world's top IoV consumer.
• KEY MARKET SEGMENTS
• Component
• Hardware, Software, Service
• Networking Technology
• Wi-Fi, Bluetooth, Cellular, Others
• Communication Type
• Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Others
• By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
• KEY MARKET PLAYERS
• Cisco Systems
• AT&T
• Microsoft Corporation
• IBM Corporation
• Intel Corporation
• TomTom International BV
• General Motors
• Ford Motor Company
• Tesla, Inc.
• BMW AG
• Daimler AG
• Audi AG
• Toyota Motor Corporation
• Volvo Cars
• Honda Motor Co., Ltd.
• Volkswagen AG
• Nissan Motor Co., Ltd.
• BlackBerry Limited
• Harman International Industries, Inc.
• Continental AG