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Automotive IoT Market in India 2024 – 2028

Publisher Netscribes (India) Pvt. Ltd.
Published Jan 02, 2024
Length 59 Pages
SKU # NBS18620797

Description

Automotive IoT Market in India 2024 – 2028


Within the automotive sector, IoT plays a vital role in overseeing car operations to improve safety and alleviate drivers' responsibilities. Automotive IoT specifically refers to the interconnected network of devices and systems, fostering communication and data exchange among vehicles, infrastructure, and other elements within the automotive ecosystem. This connectivity aims to amplify vehicle functionality, boost safety, and provide innovative services and experiences for both drivers and passengers.

Market insights:

The automotive IoT market in India was valued at INR 653.33 Bn in 2023. It is expected to reach INR 2,808.14 Bn by 2028, expanding at a compounded growth rate of 31.75% during the 2024 – 2028 period. Automotive companies are embracing integrated connectivity to meet the growing demand for autonomous vehicles, emphasizing the improvement of road safety through features like ADAS, satellite-based radio navigation assistance, and in-vehicle infotainment. This trend is projected to notably stimulate the expansion of the Automotive IoT market in the forecast period.

Market drivers:

The automotive IoT market is propelled by the increasing desire for connected vehicles, with various factors contributing to this surge. These include government initiatives dedicated to the development of intelligent transportation systems, a heightened demand for smart features and automated driving technologies, and the increased interest in advanced safety features. The integration of IoT in the automotive sector, particularly in fleet management, plays a crucial role, involving the incorporation of sensors, tracking software, and weight measurement tools in vehicles.

Market challenges:

In India, the progress of IT infrastructure on highways trails behind that of more technologically advanced nations. The essential 3G and 4G-LTE communication networks necessary for connectivity are primarily accessible in urban and semi-urban regions, resulting in limited access in rural areas. The high expenses involved pose a notable obstacle to the growth of the Automotive IoT market, particularly due to the high costs associated with vehicle components, software, and sensors in the Automotive IoT domain.

Table of Contents

59 Pages
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
3.2. Use cases of IoT in automotive industry
Chapter 4: Market Overview
4.1. Automotive IoT market in India – An overview
4.1.1. Automotive IoT market in India – size and growth forecast based on value (2021 – 2028e)
4.2. SWOT analysis
4.3. Porter’s five forces analysis
Chapter 5: IoT Applications
5.1. Application of IoT by automotive companies
Chapter 6: Market Trends
6.1. Key market trends
Chapter 7: Government Initiatives
7.1. Government initiatives
Chapter 8: Market Influencers
8.1. Market drivers
8.2. Market challenges
Chapter 9: Competitive Landscape
9.1. Bosch Limited
Company information
Business description
Products/services
Key people
Financial snapshot
Key ratios
Key financial performance indicators
Key business segments
Key geographic segments
Note: Financial and market segments’ information has been covered only for public companies
9.2. HCL Technologies Limited
9.3. Infosys Limited
9.4. Tata Consultancy Services Limited
9.5. Tech Mahindra Limited
9.6. Wipro Limited
9.7. Altizon Systems Private Limited
9.8. Capgemini Technology Services India Limited
9.9. IBM India Private Limited
9.10. Microsoft Corporation India Private Limited
Chapter 10: Recent Developments
10.1. Recent developments
Chapter 11: Appendix
11.1. Research methodology
11.2. About Netscribes
11.3. Disclaimer

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