Asia Pacific IoT Automotive Market was valued at USD 4.46 Billion in 2016 with a CAGR of 26.4% between the forecast period of 2016 and 2024. The Asia Pacific IoT Automotive Market is segmented by application (infotainment, navigation, and telematics), connectivity form (embedded, tethered, and integrated), communication type (in-vehicle, vehicle to vehicle, vehicle to infrastructure), offering (hardware, software, service), and by Region (China, Japan, India, South Korea, Australia, Others).

Asia Pacific IoT Automotive MarketAsia Pacific IoT Automotive Market1Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current Asia Pacific IoT Automotive Market outlook. The report encompasses the Asia Pacific IoT Automotive Market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry.

Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Asia Pacific IoT Automotive Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing the market know-how of our clients and at the same time explain the market positioning of competitors.

Connectivity is getting better in today’s world, with new high tech gadgets and machines at disposal. There is the upcoming smart world where the much-hyped Internet of things (IoT) and machine to machine (M2M) connections will together bring in the massive transformation. Asia Pacific region has been at the forefront of a technological revolution especially with China, the world’s largest manufacturer looking at speeding up IoT and M2M technologies. By 2020, it is expected that there will be 200 billion IoT connected devices globally, out of which 95% will be completely manufactured in China itself.

An increasing 4G network coverage has helped in connecting China’s car market. There is expected to be around 68 million smart cars on the country's roads by 2019. Chinese company Baidu has tied up with BMW to introduce a driverless car soon, while the Volvo Car Corp. is working with China Unicom on its in-car services, which includes voice recognition systems and rapid assistance.

Experiments are going on to implant cars with SiM solutions having a built-in capability to monitor vehicle performance, offering connected services that are integrated with driving experience and installing an emergency call system as well. Recently, the famous Chinese automaker ByD introduced a new car, the Qin, that are equipped with hybrid power and remote controllers. The built-in the technology of IoT allow using a smartphone to check the car’s status, location, as well as control the air conditioner.

The smartphones can also be used for driving the car by remote control from several feet away. Automakers are working on deploying in-vehicle connectivity for collecting data about the car’s performance in order to form hi-tech vehicles with value-added services.

The automotive industry has been around for quite some time and has hugely evolved ever since, but the major transformation happening now with vehicles driven by themselves will eventually have a long-term impact on society.

The automobile industry is on the edge of a revolution, to move on towards the self-driving automobile industry, with the main driving force behind this being the Internet of Things (IoT). IoT will change the automobile industry and at the same time, the automobile industry will also provide a big boost to the IoT applications especially for the Asia Pacific IoT Automotive Market.