Industrial Internet of Things (IIOT) for Automotive Market: Perspective on Upcoming Impacts and Forecast Analysis (2024-2030) by Component, Application, and Region.

Industrial Internet of Things (IIOT) for Automotive Market Overview:

The Internet of Things (IoT) is modifying a couple of regions, including the auto. IoT advances assist the auto business with making imaginative and progressed arrangements. For example, associated vehicle arrangements, Advanced Driver-Assistance Systems (ADAS), in-vehicle infotainment frameworks, route and telematics arrangements, and so on IoT has engaged more unmistakable transportation proficiency in the auto region. Car enterprises and related organizations can't overlook the meaning of IoT in car.

 

As indicated by a Forecast Analysis by SMR, "The venture and car IoT stage market will address a $11.3 billion open door in 2027, up at a 33% CAGR from 2020. Before the finish of the conjecture time frame, the biggest income areas will make and normal assets, transportation, and building robotization."

 

 

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Industrial Internet of Things (IIOT) for Automotive Market:

While IIoT executions can incomprehensibly work on functional efficiencies, they additionally uncover potential new assault surfaces and security targets while perhaps not appropriately safeguarded. For all intents and purposes anything can become defenseless against cyber-attacks, from high-esteem resources or administrations, basic responsibilities in the cloud, process control frameworks in digital actual frameworks, to basic business and functional information. To all the more likely comprehend IIoT security dangers and suggestions, the IBV banded together with Oxford Economics to study 700 chiefs. They address 700 organizations in 18 nations from the energy and modern areas (of which 135 were auto) that are carrying out IIoT in their plants. Machine/modern mechanization drives the rundown of IIoT applications for 76% of unique gear makers (OEMs) and 84% of providers. Then, 58% of OEMs and 75% of providers said they have mechanized work process applications. Shockingly, prescient support applications were not as high on the list as expected.

 

IoT Solutions for the Automotive Industry:

Traditional perspectives on the vehicle business are quickly changing with IoT improvement. Like prescient support, Wi-Fi offices controlled by 3G/4G/5G usefulness, and Car2Car availability. Underneath referenced are some financially savvy and efficient strides towards various phases of the Automotive Industry. There are different IoT arrangements that are changing the manner in which individuals communicate with their vehicles. How about we take check out some Automotive IoT use cases:

 

Fleet Management:

The utilization of IoT in the auto area has acquired an enormous progression in the field of armada the executives. Today, trucks are coordinated with various sensors like weight estimation, and vehicle following. A portion of the advantages of armada the executives are given beneath:

1. Continuous area observing of the fleet

2. Following traffic conditions out and about.

3. Course management

4. Time and Driver management

A few IoT applications in the automotive industry are listed below:

Driver and Fleet Management:

The most recent IoT use case in the automotive industry is fleet and driver management. It takes advantage of the Internet of Things and provides administrators with a variety of benefits in their day-to-day business operations. The ability of IoT applications in cars to coordinate with one another to monitor driver execution is, nevertheless, a key benefit.

There are numerous benefits to fleet management, including:

• Tracking of vehicles

• Monitoring fuel use

Furthermore, GPS is used by a key component of the system, vehicle tracking, to provide information such as the vehicle's location, direction, and speed.

 

Real-Time Vehicle Telematics:

A complete security solution is a real-time vehicle tracking system. This technology aids in the location of a vehicle utilizing various ways such as GPS. Other navigation systems that utilise satellites and ground-based stations are also used. The tracking system is installed in the vehicle. It also delivers accurate real-time location and data. This information can be saved in a computer and used for future study.

 

CV2X (Cellular Vehicle to Everything):

CV2X enables the development of cooperative intelligent transportation networks by connecting individual cars. This aids in the reduction of traffic and pollution. This automotive technology has the potential to improve travel by transforming data and safety services. C-V2X is designed to deliver services, such as LTE networks, to mobile devices.

 

IIOT in Automotive Market Segmentation:

During the projected period, the software market is expected to be the largest in terms of offerings.

Platforms and solutions that are critical to the operation of IoT in an automobile are available on the software market. Software solutions are created to address interoperability issues that occur from a variety of heterogeneous devices, as well as to handle massive amounts of data, as well as their security and privacy. IoT software solutions have been used as a result of factors such as the rising acceptance of connected cars and the growth of high-speed networking technology.

 

 

During the period 2020-2027, the market for vehicle-to-vehicle communication is expected to be at its peak:

It is both quick and dependable, and it gives drivers with real-time alerts. It is not affected by vehicle shadowing, which occurs when a smaller car is obscured by a larger vehicle, preventing it from communicating with roadside equipment. Vehicle-to-vehicle communication allows a vehicle to communicate its location, speed, steering wheel position, brake status, and other information to other cars. The elements driving the vehicle-to-vehicle communication market include the implementation of safety and security, forward hazard warning, curve speed warning, and overtake vehicle warning. The key causes pushing the vehicle-to-vehicle communication are the limitations of already deployed systems, which employ radar or ultrasound to identify few car lengths and are unable to pass nearest barriers.

 

Developments by Key Players in the IIOT in Automotive Market:

Object Recognition: Hamamatsu collaborates with automakers to integrate sensor technologies, imaging, radar, and LiDAR (light detection and ranging) into advanced cars to assist them distinguish and recognize objects ahead of them at high speeds. The system must quickly develop a 3D map up to a distance of around 100 metres and create high angular resolution pictures up to a quarter mile ahead of the vehicle using distance-gauging technologies.

 

Real-Time Line Visibility: Brembo, a manufacturer of braking systems and components for automobiles, motorcycles, industrial vehicles, and machinery, collaborates with PTC to integrate IoT into its operations and products. The purpose is to provide insight into line operations, improve troubleshooting capabilities, and improve operational uniformity and consistency. Brembo employs Kepware IoT technology to connect vintage equipment and programmable logic controllers (PLCs) to current systems, integrating diverse sources of data and providing real-time insights. Brembo North America operations manager Alvaro Quiroga remarked, "Efficiency gains and real-time insight helped Brembo save upwards of $1.5 million in 2020."

 

Metal Inspection: BMW is a prominent user of AI and IoT for metal inspection. In its metal pressing facility, where components for the car's body are manufactured from boards, it has an AI application. The BMW Group created a system that minimises potential deviations in collaboration with Robotron Datenbank-Software, a specialist in industrial computer vision and IoT. "After forming, metal chips or oil residues on body components might easily be fooled with very thin cracks," stated Michael Baling, head of Robotron's industry division.

 

Quality Control: Intel is assisting Audi in automating and improving quality-control processes in its manufacturing. Audi can eliminate human error and build automobiles with precision and accuracy by using a data-driven platform. 2,500 autonomous robots work on the production line of Audi's Neckarsulm factory, for example. 900 of them have welding guns with which they can make spot welds. At the Neckarsulm factory, Audi assembles up to 1,000 vehicles every day, with each car containing 5,000 welds, totaling nearly 5 million welds in a single day. A model based on electric voltage and current curves during welding was built by Intel's data scientists. When the system detects a bad weld or a prospective modification in the configuration that could reduce the amount of time it takes to repair it, it sends an alert to the professionals.

 

During the projection period, North America is expected to account for the highest market share.

During the projection period, the automotive IoT market in North America is predicted to have the greatest market share. The United States is a major contributor to the expansion of the North American automotive market. The industry is being driven by the presence of big corporations such as Ford and General Motors, which have been providing connectivity services. Furthermore, the United States has the largest telematics industry, which is luring the automotive IoT market.

 

The objective of the report is to present a comprehensive analysis of the Industrial Internet of Things (IIOT) for Automotive Market to the stakeholders in the industry. The report provides trends that are most dominant in the Industrial Internet of Things (IIOT) for Automotive Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Industrial Internet of Things (IIOT) for Automotive Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Industrial Internet of Things (IIOT) for Automotive Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also

 

includes the competitive landscape of key players in the industry along with their recent developments in the Industrial Internet of Things (IIOT) for Automotive Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Industrial Internet of Things (IIOT) for Automotive Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Industrial Internet of Things (IIOT) for Automotive Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Industrial Internet of Things (IIOT) for Automotive Market is aided by legal factors.

 

Industrial Internet of Things (IIOT) for Automotive Market Scope:

Industrial Internet of Things (IIOT) for Automotive Market
Market Size in 2023	USD 3.61 Bn.
Market Size in 2030	USD 26.63 Bn.
CAGR (2024-2030)	33%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Component Hardware Software Services
	by Application Design & Production Assembly Quality inspection Logistics & Inventory Management
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

Industrial Internet of Things (IIOT) for Automotive Market Players:

• Accenture (Ireland)
• Capgemini (France)
• CISCO (USA)
• Cognizant (USA)
• HCL Technologies Ltd. (India)
• Hortonworks (California, USA)
• IBM (USA)
• PTC (USA)
• SAP (Germany)
• Siemens (Germany)