Global IIoT Market in Automotive Industry 2017-2021

The infographic below contains key findings from our analysis of the IIoT market in automotive industry

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Overview of the global IIoT market in automotive industry

Technavio’s market study identifies the growing market for wearable technology in industries to be one of the primary growth factors for the IIoT market in automotive industry. IoT is widely used in several industries contributing towards businesses steadily incorporating wearables in their product portfolio. Engineers are developing wearable devices integrated with advanced sensor technologies and focusing on the miniaturization trend. This trend has resulted in wearable devices equipped with tiny sensors and electronic components to improve human ergonomics and decrease fatigue-related issues. These devices aid in asset monitoring, and tracking human resources and inventory in industries. Our market analysts estimate that the market will grow steadily at a CAGR of greater than 33% by 2021.

Automotive industry has widely adopted virtual reality (VR) due to the prospect of cost and time reductions. Automotive applications such as manufacturing workstation optimization, vehicle design, and assembly training make use of VR. Automotive companies use VR for the virtual environment to determine the vehicle’s performance in various environments and car crashes. VR and IIoT collectively result in better designs for automobiles, speed-up the manufacturing processes, and help in delivering customer preferred standards. The integration of virtual reality in automotive industry is identified to be one of the key trends contributing towards the growth of the IIoT market in automotive industry.

Competitive landscape and key vendors

The IIoT market in automotive industry is significantly concentrated owing to the presence of few key players offering moderately differentiated products. High adoption of IIoT in the automotive industry provides growth potential for the new players. The entry of new players will cause price war as they offer products and services at low rates. Higher adoption and penetration of IIoT in the automotive industry is resulting in profitability for the established players in the automotive IIoT market.

The leading vendors in the market are

• Cisco
• HCL
• IBM
• PTC

The other prominent vendors in the market are Accenture, Capgemini, Cognizant, Hortonworks, SAP, Siemens, and Telit.

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Segmentation by application and analysis of the IIoT market in automotive industry

• Manufacturing operations
• Production asset management and maintenance
• Inventory and supply chain management

Automotive industry is increasingly incorporating IIoT in machines and equipment. Factors such as digitization of manufacturing processes, use of intelligent assets and equipment, and availability of real-time and historical data contribute towards the growth of the manufacturing operations segment in the automotive IIoT market.

Segmentation by solutions and analysis of the IIoT market in automotive industry

• Hardware and software
• Solutions

IIoT solutions are incomplete without the hardware and software to efficiently adopt remote monitoring, data management, analytics, and security software solutions. Automotive industry increasingly adopts IIoT to reduce the reliance on human labor. Additionally, the reduced prices of hardware products such as sensors and controllers, further contribute to the growth of the automotive IIoT market.

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Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global IIoT market in automotive industry?
• What are the key market trends impacting the growth of the global IIoT market in automotive industry?
• What are the challenges to market growth?
• Who are the key vendors in the global IIoT market in automotive industry?
• What are the market opportunities and threats faced by the vendors in the global IIoT market in automotive industry?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global IIoT market in automotive industry?

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