The automotive IoT market size has witnessed significant growth in recent years. From $157.1 billion in 2024, the market will surge to a staggering $178.07 billion in 2025 at a compound annual growth rate (CAGR) of 13.4%. This positive trend can be largely attributed to the influx of connected car technologies, vehicle-to-everything (v2x) communication, advanced driver assistance systems (ADAS), and the broad adoption of telematics.
Looking at the coming years, the automotive IoT market size is expected to further expand swiftly. Forecasts show it will reach a whopping $300.82 billion in 2029 at a compound annual growth rate (CAGR) of 14.0%. Gains in this forecasted period will be driven by the advent of 5g connectivity in vehicles, the use of edge computing in automotive IoT, the advancement of artificial intelligence in automotive, development of autonomous vehicles, and the application of predictive maintenance solutions. Major trends propelling this growth include in-car infotainment systems, smart parking solutions, optimization of fleet management, application of blockchain in automotive IoT, and the implementation of vehicle health monitoring systems.
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What Are The Key Growth Drivers for the Automotive IOT Market?
The automotive IoT market is getting a significant boost from the increasing demand for autonomous vehicles. Autonomous vehicles, or self-driving vehicles, leverage various technologies to operate without human intervention. The Internet of Things makes this possible by linking these vehicles wirelessly on a cloud system via several devices, enabling vehicle-to-vehicle interaction. For instance, predictions by the U.S.-based government agency, National Highway Traffic Safety Administration (NHTSA), in December 2022 state that approximately 3.5 million autonomous vehicles could be on U. S. roads by 2025, reaching 4.5 million by 2030. Hence, the surge in demand for autonomous vehicles is likely to drive growth in the automotive IoT market.
Which Segments Contribute The Most To The Automotive IOT Market?
1) By Offering: Hardware, Software, Services
2) By Connectivity: Embedded, Tethered, Integrated
3) By Application: Infotainment, Fleet Management, Predictive Maintenance, Vehicle Security, Automatic Driver Assistance System, Other Applications
4) By End User: Original Equipment Manufacturers, Aftermarket
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Who Are The Market Leaders In The Automotive IOT Market?
The automotive IoT market comprises major companies such as Texas Instruments Incorporated, NXP Semiconductors N.V., Intel Corporation, TomTom N.V., Cisco Systems Inc., Microsoft Corporation, International Business Machines Corporation (IBM), Google LLC, AT&T Inc., Apple Inc., Robert Bosch GmbH, Harman International Industries Inc., Ghost Locomotion Inc., Hologram Inc., Infineon Technologies AG, Octo Group S.p.a., Alibaba Group Holding Limited, Huawei Technologies Co. Ltd., Indeema Software, Digital Management Inc., Orange SA, PixelCrayons, Aeris Communications Inc., KORE Wireless Group Inc., IOTTIVE PVT. LTD., Eurotech S.p.A., STMicroelectronics N.V., Cloudmade Limited, Sierra Wireless Inc., Verizon Communications Inc., Telefónica S.A., Mitsubishi Electric Corporation, and Tech Mahindra Ltd.
What Market Trends Are Dominating The Automotive IOT Market?
A primary trend shaping the automotive IoT market is the rising popularity of automotive predictive diagnostics solutions. Automotive companies are partnering with tech players to integrate predictive diagnostics solutions into their current models. This integration helps to minimize upkeep frequency and avoid premature preventive maintenance. The predictive maintenance systems within vehicles actively monitor, record, transfer, and evaluate data from in-vehicle sensors to monitor vehicle functional metrics. For instance, in February 2022, Ashok Leyland, an India-based automotive manufacturer, teamed up with Syncron, a Sweden-based after-sales service provider to incorporate predictive vehicle maintenance solutions into Ashok Leyland Condition Monitoring Systems (CMS).
Which Region Dominates The Automotive IOT Market?
In 2024, North America was the largest region in the automotive IoT market, and Asia-Pacific is expected to be the fastest-growing region during the forecast period. The regions covered in the automotive IoT market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Automotive IOT Market Report 2025 Offer?
The Automotive IoT Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Automotive IoT is the integration of sensors, devices, software applications, and other components in automotive that perform specific or wide-ranging activities, including fleet management, predictive diagnostics, and more.
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