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Jul 31, 2020 6:22 PM ET

Global Internet of Cars Market Top Countries Data 2020 Industry Trends, Share, Size, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis by Forecast By 360 Market Updates

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“Global Internet of Cars Market size”2020 has covered and analyzed the potential of Worldwide Internet of Cars Industry and provides statistics and information on market dynamics, growth factors, key challenges, major drivers & restraints, opportunities and forecast. This report presents a comprehensive overview, market shares, and growth opportunities of Internet of Cars market 2020 by product type, application, key manufacturers and key regions and countries.

Global “Internet of Cars Market” Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Internet of Cars in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India.Internet of Cars Market report categorizes the market based on manufacturers, regions, type, and application. Internet of Cars Market reports offer a detailed assessment of the Internet of Cars including enabling technologies, current market situation, market assumptions, restraining factors.


The Global Internet of Cars market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.




The Internet of Cars market was valued at USD 68.12 billion in 2017, and is expected to reach a value of USD 365.96 billion by 2023 at a CAGR of 32.34%, during the forecast period (2018-2023). The scope of the report is limited to services offered by major players for Internet of Cars market including Business and Cloud Services, Support and Maintenance, Consulting Services. The end-users considered in the scope of the report include Government, Healthcare, Transportation and Logistics, and Homeland Security. The study also emphasizes on various attack points on materials used for Internet of cars and various regions considered globally along with various segments, such as software solutions, applications, products, and services.Following the development of technology and emerging trends in IoT, Machine to Machine (M2M) and big data analytics, there has been a fast growth for IoT in the automotive sector. This exponentially growing trend of connected cars, along with other technologies, is driving the market on a large scale. These connected features involve the exchange of real-time data that offers better comfort, security, entertainment and safety for the end-user. Various automobile manufacturers, such as BMW, Mercedes, Ford, General Motors and others are now offering IoT-connected cars. It is expected that approximately 360 million connected cars would be on road by 2020, globally. To eradicate the situation of traffic blocks, the use of connected cars can be justified. Due to rise in urbanization, most of the cities across the world are facing traffic jams. For example, drivers in New York currently spend more time in traffic jams than those in any other city; they spend an average of 127 hours each year, stuck in traffic.Rise in Demand for Safety, Comfort and Convenience in Automotive Sector Drives the Growth of Connected Cars.Safety, comfort, and convenience systems have become vital in the automotive sector. In addition, the automobile industry, globally, is flourishing and it is expected that the total number of vehicles, globally, could double to 2.5 billion by 2050. In 2014, light vehicle sales exceeded the pre-crisis level (2008 financial crisis) for the first time, owing to rise in household incomes and fulfilment of overdue demand. At the same time, the need to replace obsolete vehicles is boosting demand for the automobile industry and presents significant growth opportunity for IoC manufacturers and suppliers.Every year, approximately 1.25 million people are dying because of the road traffic crash. Moreover, 20-50 million people are suffering from non-fatal injuries, with many incurring a disability as a result of their injury. These injuries from road accidents are causing considerable economic losses to victims and to nations, as a whole. These issues are boosting the demand for more efficient safety systems in cars, which can tackle the accident situations on a real-time basis. The next groundbreaking connected solutions, such as integration between car parts and the whole software environment can create a smart car ecosystem.Mobility Management is Expected to Have Highest Growth Owing to Traffic and Safety ConcernsMobility management comprises of all the systems that allow drivers to reach their destination safe and quickly with optimal fuel consumption. In addition, cars can access real-time traffic information through their onboard navigation systems and reroute automatically to avoid traffic jams. They also can provide information on parking lots and refueling stations, which can save the travel time. Over the next few years, because of the advancements in IoT, drivers would be able to access highway warnings and messages to avoid the accidents.Currently, the incorporation of IoT is typically remained in the sample stage because of the complex configurations and implementation process of hardware and software systems. However, mobility management has the potential to reduce maintenance cost and improve both asset availability and reliability. However, even to utilize the value services of IoT and cloud-based data networks, organizations need not only to collect data, but also need to invest more into building IT infrastructure. In addition, the shortage of data scientists and skilled professionals is a major issue hindering the mobility services market.North America is One of the Largest Market for the Growth of Connected Cars in the RegionThe emergence of information technology and the increased usage of IoT in automotive applications have added a new dimension in the manner of conducting business operations in this region. The deployment of smarter functional systems, based on IoT techniques, helps automotive companies establish and maintain an operational process. The growth of electric vehicles in North America presents a long-term growing opportunity and the increase in electronics content, particularly in vehicle management systems, to achieve greater emission control and improve safety features in cars. Thus, there is an attractive market for IoC, which is expected to accelerate the market growth. Spending in the United States logistics and transportation industry totaled USD 1.45 trillion in 2014 and represented 8.3% of annual GDP. New-vehicle registrations eclipsed the number of scrapped vehicles by more than 42%, in 2014, recording the highest rate since 2012 and this has increased the obsolete vehicle car fleet in the region.


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Key Developments in the Internet of Cars Market:•February 2018 – Panasonic and Trend Micro have had an agreement to develop cyber security solutions for connected cars. This collaboration of the two companies is expected to detect and prevent various intrusions into Electronic Control Units (ECUs)•February 2018 – a private start-up company Cubic Telecom has announced that it has about a million cars in its software. This software facilitates connected cars in connecting to an LTE network. This software also enables the cars to connect to any high-speed mobile network•February 2018 – Cisco and Hyundai were collaborating to develop Software Defined Network (SDN) platform. This platform would allow the deployment of connected, driverless or autonomous cars. This platform would enable sensor integration, hardware and software integration, end-to-end networking, and security etc


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Finally, the report Global Internet of Cars Market 2020 describes the Internet of Cars industry expansion game plan, the Internet of Cars industry knowledge supply, appendix, analysis findings, and the conclusion.


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