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Europe IoT in Automotive Market Competitiveness, Forecasting and Insights for the Next Decade

The report presents a comprehensive overview of industry trends, growth, share and the competitive landscape in 120 pages.

The most recent research study on the global “Europe IoT in Automotive Market” [2023-2032] by Report Ocean provides a description of the segments and sub-segments. It offers a thorough examination of the sector, analyses historical data, forecasts the future, and aids in understanding the market situation, growth prospects, and difficulties.

The study also includes competitive information and profiles of well-known market competitors, facilitating marketing plans of action and strategic decision-making.

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The Europe IoT in automotive market is projected to grow at a CAGR of 26.62% leading to a revenue of USD 30.09 Billion by 2023.

The automotive industry is undergoing a transformation towards innovative connected self-driving vehicles with the help of Internet of Things (IoT). In Europe, the second largest revenue generating geography for IoT in the automotive market, strong economic backbone and increased awareness of fuel efficiency and road safety are driving the adoption of IoT. The European countries of Sweden, France, Italy, Germany, and Luxembourg have high IoT penetration in general and it is expected to drive the adoption of the technology in their respective automotive industries as well.

The adoption of IoT in Europe is being fueled by the support from the government and major automotive companies in the region. The EU has mandated the use of IoT-enabled eCall, which automatically contacts the nearest emergency center in case of a collision. Honda is deploying IoT solutions from Cisco Jasper and Bright Box across all European countries to deliver the MyHonda Connected Car platform to provide a variety of connected services that increase driver safety and enable new experiences for drivers.

The Europe IoT in automotive market is classified into three primary segments based on connectivity form, communication type, and application. The infotainment segment is expected to show the highest growth rate in the region owing to the high purchasing power of the people in Europe and their preference for using infotainment systems for accessing mails and social media, and streaming high definition video and audio inside the vehicle. Within the communication type segmentation, the vehicle to vehicle segment is expected to register a high growth rate through the forecast period 2018-2023.

The major players in the Europe IoT in automotive market are Cisco, Ford, IBM, Microsoft, AT&T, etc.

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The study objectives of this report are:

  • To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast to 2032.
  • To understand the structure of market by identifying its various subsegments.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
  • To analyze the growth trends, future prospects, and their contribution to the total market.
  • To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
  • To strategically profile the key players and comprehensively analyze their growth strategies.

The Study Explore COVID 19 Outbreak Impact Analysis

  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?

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