Internet of Things in Automotive Market Overview
Internet of Things (IoT) refers to an integrated system that comprises machines, people, computing devices,. And other devices that allow data sharing among them over a defined network. As the automotive sector is observing a significant technological shift. Automakers across the world are integrating this technology in their vehicle models. With the surging customer preference for a convenient driving experience and seamless connectivity. Automobile manufacturers are increasingly incorporating the IoT technology in their offerings. Additionally, the burgeoning need for capturing real-time information by vehicle operators and users is also augmenting the adoption of this technology worldwide.
Besides, the increasing shift toward connected cars will also fuel the IoT in automotive market during 2020–2030. Connected cars have internet access and a wireless local area network (LAN). Which facilitate the cars to share their information with various devices inside and outside the vehicles. As these cars are mostly dependent on the usage of IoT. The rising demand for connected cars will amplify the need for IoT solutions in the coming years.
Besides, the introduction of autonomous technology in vehicles has also boosted the adoption of IoT solutions in the automobile industry. Autonomous vehicles include advanced driver assistance systems (ADASs), which are primarily dependent on IoT,. As this technology assists drivers in driving safely and uninterruptedly. These systems are used to provide important information about traffic. Congestion levels, suggested routes to avoid dense traffic, and closure and blockage of roads ahead.
Internet of Things in Automotive Market Growth and
Currently, IoT solution providers such as Robert Bosch GmbH, NXP Semiconductors NV, International Business Machines Corp., General Motors Co., Google LLC, Cisco Systems Inc., Intel Corp., and Microsoft Corp. Are offering such solutions to be installed in ADAS components such as park assist system. Tire pressure monitoring system (TPMS), adaptive cruise control system (ACCS), drowsiness monitoring systems (DMS), lane departure warning system (LDWS), blind spot detection system (BSDS), adaptive front lighting system (AFLS), driver monitoring system, and night vision system.
In the coming years, the introduction of fully autonomous vehicles will accelerate the utilization of IoT technology at a significant rate. Even though these vehicles are still in the testing phase across the world. Germany has already approved the use of semi and fully autonomous driving systems. In June 2017, the government of Germany amended the German Road Traffic Act to allow a driver to pass off driving control to an autonomous vehicle.
As this technology assists drivers in driving safely and uninterruptedly.
Internet of Things in Automotive Market Size and Emerging Trends
According to P&S Intelligence, North America dominates the IoT in automotive market, with the automotive industry in the U.S. witnessing the large-scale use of IoT solutions. Such as advancements in telematics for vehicles. Besides, the presence of leading automobile manufacturers, such as Ford Motor Co. and General Motors Co. And their increasing focusing on developing connected vehicle technologies are also accelerating the adoption of IoT solutions in the automotive industry in the region.
Thus, the soaring demand for connected cars and the rising integration of ADAS components in vehicles will augment the need for IoT solutions in the foreseeable future.
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Automotive Camera Module Market Overview
The increasing popularity of autonomous and luxury vehicles and the rising integration of advanced safety features in automobiles. Are some of the major factors fuelling the surge in the adoption of camera modules in automobiles across the world. Furthermore, the mushrooming incidence of road mishaps and accidents is boosting the growth of the insurance companies. Who are in turn, promoting the incorporation of complementary metal-oxide semiconductor (CMOS) sensors. Such as camera module sensors having several features and affordable costs in vehicles all over the world.
In order to reduce the prevalence of road accidents and the growing popularity of the New Car Assessment Program (NCAP). Are the other major factors boosting the demand for automotive camera modules throughout the globe. As a result, the global automotive camera module market is expected to exhibit substantial growth during the forecast period (2020—2030).
Automotive Camera Module Market Emerging Trends
Such as rain and fog and their widespread usage in night vision systems. Primarily because of the presence of infrared camera technology in autonomous vehicles across the globe.
One of the prominent trends presently being witnessed in the automotive camera. Module market is the rising adoption of automotive camera modules. And cameras in advanced driver assistance systems (ADAS) across the world. Many original equipment manufacturers (OEMs) are increasingly developing and integrating advanced night vision camera modules in automobiles for curtailing the prevalence of road collisions. In addition to this, the modular automotive reference system (MARS), comprising image sensors, image signal processors. And various types of lenses is being increasingly adoption in autonomous vehicles, in-cabin cameras, and surround-view and rear-view systems.
Automotive Camera Module Market Size and Growth
Owing to the mushrooming popularity of luxury vehicles and increasing incorporation of ADAS in commercial vehicles and passenger cars in the region. Europe is expected to register the second highest sales of automotive camera modules. During the forecast period. Due to the presence of various regulations and norms regarding the integration of ADAS and other safety technologies in passenger cars in the region.
Therefore, it can be concluded that the demand for automotive camera modules. It will shoot-up throughout the world in the coming years. Mainly because of the rising sales of autonomous and premium-class vehicles. Increasing incidence of road accidents and collisions all around the world. And the ballooning requirement of advanced safety systems and features in vehicles across the world.North America dominates the IoT in automotive market. With the automotive industry in the U.S. witnessing the large-scale use of IoT solutions.
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