Automotive Industrial Internet of Things (IIoT) Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Industrial Internet of Things (IIoT) technology leveraged automotive manufacturers by staying connected to integrate different technologies like machine learning, big data, sensor data, machine-to-machine communication, and automation. Automotive Industrial Internet of Things helps to gain competitive advantage and open new revenue streams for the automotive market.

MARKET SCOPE

The "Global Automotive Industrial Internet of Things (IIoT) Market Analysis to 2031" is a specialized and in-depth study of the Automotive Industrial Internet of Things (IIoT) market with a special focus on the global market trend analysis. The report aims to provide an overview of Automotive Industrial Internet of Things (IIoT) market with detailed market segmentation component, application., and geography. The global Automotive Industrial Internet of Things (IIoT) market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Automotive Industrial Internet of Things (IIoT) market players and offers key trends and opportunities in the Automotive Industrial Internet of Things (IIoT) market.

MARKET SEGMENTATION

•   Based on component, the market is segmented as hardware, software and services.
  
•   On the basis of the application the market is segmented into design & production, assembly, quality inspection, and logistics & inventory management.
  

MARKET DYNAMICS

Drivers:

•   Substantial operational cost benefit to OEMs, and suppliers, increased labor productivity and process efficiency, and mass customization
  
•   auto manufacturers' inclination towards the smart factories, digitalizing different manufacturing process
  Restraint -
  
•   lack of leadership commitments, lack of understanding of potential use cases, and limited budget allocation
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Automotive Industrial Internet of Things (IIoT) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Automotive Industrial Internet of Things (IIoT) market in these regions.

IMPACT OF COVID-19ON AUTOMOTIVE INDUSTRIAL INTERNET OF THINGS (IIOT) MARKET

COVID-19 severely impacted the automobile industry by the end of 2021 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the automotive and transportation industry, including Automotive Industrial Internet of Things (IIoT) manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, automotive manufacturers have been focusing on reducing costs and expenses, which includes cutting back on production spending. Due to long duration of halts in the supply chain of major automotive production, the Automotive Industrial Internet of Things (IIoT) suppliers have been facing a reduction in demand. However, as the lockdown measures start getting lifted, the demand for passenger cars with improved safety features is expected to rise. This is expected to create opportunities for growth as more auto-makers are shifting to smart production techniques such as industrial IoT in their manufacturing processes.

MARKET PLAYERS

The reports cover key developments in the Automotive Industrial Internet of Things (IIoT) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Automotive Industrial Internet of Things (IIoT) market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive Industrial Internet of Things (IIoT) market. Below mentioned is the list of few companies engaged in the Automotive Industrial Internet of Things (IIoT) market.

The report also includes the profiles of key Automotive Industrial Internet of Things (IIoT) market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   Accenture
  
•   Capgemini
  
•   CISCO
  
•   Cognizant
  
•   HCL Technologies Ltd
  
•   Hortonworks
  
•   IBM
  
•   PTC
  
•   SAP
  
•   Siemens
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive Industrial Internet of Things (IIoT) Report Scope