The newest research report from Report Ocean, titled “Internet of Vehicle Market” Size, Share, Pricing, Trends, Growth, Opportunities, and Forecast 2023-2030,” presents a comprehensive analysis of the global market. This report offers a detailed examination of future revenue projections, market demands, regional analysis, and other crucial information about the target market, including drivers, restraints, opportunities, and threats. Additionally, the report provides insights into the key companies operating in the market, supply chain trends, financials, significant developments, and technological innovations. It also encompasses future strategies, acquisitions, and mergers that may impact the ASRS industry.
The global Internet of Vehicle market was valued at $66,075 million in 2017, and is estimated to reach $208,107 million by 2024, growing at a CAGR of 18.00% from 2018 to 2024. Internet of Vehicles refers to the automation of vehicles, which involves the implementations of IoT technologies into vehicles. The internet of vehicle market growth is expected to witness high demand, owing to rise in in technological upgrades in automotive industry, rising internet penetration, introduction of Logistics4.0, and increase in awareness about safety measures across the globe.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The Internet of Vehicles (IoV) technology is a pioneering technological innovation that is expected to revolutionize the automotive market. IoV refers to the technology that has various dynamics and communicates between public and vehicle networks using V2V (vehicle-to-vehicle), V2R (vehicle-to-road), V2H (vehicle-to-human), and V2S (vehicle-to-sensor) interactions. The North America internet of vehicle market is expected to register the highest CAGR during the forecast period, due to an early adoption of IoV, and continuous launch of new and improved technologies in the region.
Internet of vehicle is a certain convergence of mobile internet and the Internet of things. It includes the presence of internet in the moving vehicles to extract information about the location, speed, distance, or mishaps on the roads. It is a converged technology that encompasses information, communication, environmental protection, energy conservation, and safety. Internet of Vehicles helps the driver to know the area and avoid collision with the nearby passing vehicles, and even control the speed accordingly. The technology is used for personal as well as business vehicle use. In case of business use, internet of vehicles is the ultimate solution to track the employee and to assure safety of the business asset.
The global internet of vehicles market is segmented based on component, technology, communication type, and region. Software, hardware, and service related to the internet of vehicles market are studied under the components segment. Based on communication type, the market is divided into vehicle-to-vehicle, vehicle-to-infrastructure, and others. Based on technology, the market is segmented into Bluetooth, cellular, Wi-Fi, NFC, and Others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
>In-depth analysis and dynamics of the global internet of vehicle market is provided to understand the market scenario.
>Quantitative analysis of the current trends and future estimations from 2017 to 2024 is provided to assist strategists and stakeholders to capitalize on the prevailing market opportunities.
>Porter’s five forces analysis examines the competitive structure and provides a clear understanding of the factors that influence the market entry and expansion.
>A detailed analysis of the geographical segments enables the identification of the profitable segments for the key market players.
>A comprehensive analysis of the trends, subsegments, and key revenue pockets of the market is provided.
KEY MARKET PLAYERS
>Ford Motor Company
>Texas Instruments Inc.
>Audi AG
>Intel Corporation
>SAP
>NXP Semiconductors N.V.
>Apple Inc.
>Google Inc.
>IBM Corporation
>Cisco Systems Inc.
KEY MARKET SEGMENTS
By Component
>Software
>Hardware
>Service
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By Technology
>Bluetooth
>Cellular
>Wi-Fi
>NFC
>Others
By Communication Type
>Vehicle-To-Vehicle
>Vehicle-To-Infrastructure
>Others
By Region
>North America ?U.S.
?Canada
?Mexico
>Europe ?UK
?Germany
?France
?Rest of Europe
>Asia-Pacific ?China
?India
?Japan
?Rest of Asia-Pacific
>LAMEA ?Latin America
?Middle East
?Africa
Report Scope:
- This report provides a comprehensive segmentation of the market, offering the closest approximations of revenue for the overall market and its sub-segments across different verticals and regions.
- The report enables stakeholders to understand the market’s dynamics and provides valuable information on key drivers, restraints, challenges, and opportunities.
- Stakeholders can gain a better understanding of their competitors and acquire insights to improve their business position.
- The competitive landscape section includes the competitor ecosystem, new product development, agreements, and acquisitions.
Research Methodology:
Research Objectives: This section outlines the overall goals of the research study, including the research questions and hypotheses that will be addressed.
Research Design: This section describes the overall research design, including the research approach (e.g., quantitative, qualitative, mixed-methods), data collection methods (e.g., surveys, interviews, focus groups), and sampling strategy (e.g., random sampling, stratified sampling).
Data Collection: This section outlines the process used to collect data, including the sources of data (primary, secondary), the data collection instruments (e.g., survey questionnaire, interview guide), and the data collection procedures (e.g., data cleaning, coding, entry).
Data Analysis: This section describes the analytical methods used to analyze the data, such as statistical tests, qualitative coding, or content analysis.
Limitations: This section outlines the limitations of the study, including any potential biases, sources of error, or limitations in the data.
Ethical Considerations: This section describes any ethical considerations that were taken into account during the research process, such as obtaining informed consent from participants, protecting participant confidentiality, and minimizing any potential harm to participants.
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