Mumbai – (ROGM) Research On Global Markets, a global market research firm, published a report on the Europe IoT in automotive market today. The report, prepared by Netscribes, shows that the Europe IoT in automotive market is set to expand 26.62% in compound annual growth rate (CAGR) and reach a market size of USD 30.99 Bn by 2023.
Europe is the second largest revenue generating region for IoT in automotive market. Strong economic infrastructure and increased awareness about fuel efficiency and road safety are driving the adoption of IoT in automotive industry in Europe. European countries like Sweden, France, Italy, Germany, and Luxembourg have high IoT penetration and is expected to drive the adoption of the technology.
However, IoT-enabled connected car value chain is quite complex owing to the involvement of multiple stakeholders in this business trend. Thus, cooperation between the different stakeholders is a pre-requisite to achieve the full potential of this market, which might be a challenge in the foreseeable future.
Key highlights of this report:
• Market drivers and challenges in the Europe IoT in automotive market
• Market trends in the Europe IoT in automotive market
• Historical, current and forecasted market size data for the Europe IoT in automotive market segmentation by connectivity form
• Historical, current and forecasted market size data for the Europe IoT in automotive market segmentation by communication type
• Analysis of the competitive landscape and profiles of major companies operating in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for IoT in the automotive sector of Europe to determine the viability of the market, developing strategies based on the drivers, trends and highlights for each of the segments, and helping brands identify their major competitors and respond accordingly.
For more information, download the Europe IoT in Automotive Market report
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