Air Sea Logistics & Automotive Transportation News

New report shares details about the global iiot market in automotive industry

New report shares details about the global iiot market in automotive industry

Future Forecast Assessed On The Basis Of How The Market Is Predicted To Grow

- Advertisement -
- Membership expired -

the following companies as the key players in the global IIoT market in automotive industry: Cisco, HCL, IBM, and PTC

Other Prominent Vendors in the market are: Accenture, Capgemini, Cognizant, Hortonworks, SAP, Siemens, and Telit.

View Report at 

marketreportscenter.com/reports/56…ndustry-2017-2021 Make an Inquiry about this news

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is R+ise of IoT ecosystem. The success of IoT, in an industry largely depends on the potential of connectivity among the devices in an industry.

However, no individual technology provider can enable IoT alone.

- Advertisement -
- Membership expired -

To optimally utilize the capability of IoT, various technology and service providers have entered into collaborations. Collaboration across the IoT ecosystem accumulates together a range of skills and abilities essential to create the IoT value chain.

The chain commences with components, such as processors, modules, operating systems, and security software. Original design manufacturers (ODMs) use these components to build boards that are utilized by original equipment manufacturers (OEMs).

Systems integrators convert these things into industry-specific solutions, with application and data analytics software. Network services connect things and cloud services and take advantage of analytics and application software to turn raw data into useful information.”


According to the report, one of the major drivers for this market is Decreasing cost of sensors. The higher demand for sensors has resulted in the sensor manufacturing companies lowering the price over the last two decades.

The sensors are a crucial part of the IIoT systems in any industry. Sensors are embedded into devices and equipment, which can then interconnect with each other and streamline the workflow in a workplace to make it smooth and fast.

The fall in the price of sensors is a benefit for the industries that have installed IIoT recently or are expected to do it during the forecast period. The reduction in the price of the sensors will bring down the cost of the overall IIoT offering.

Considering the current scenario, where the number of established vendors in the global IIoT market in the automotive industry is growing, this cost reduction acts as a driver.

Report: marketreportscenter.com/request/562235 Make an Inquiry about this news

Further, the report states that one of the major factors hindering the growth of this market is Bottlenecks in adoption and installation challenges. IoT-enabled end-users in the automotive industry are not prevalent.

To exploit the benefits of IoT, the end-users will need to have a proper, robust IT infrastructure and adequate bandwidth, especially if video integration is concerned. Besides these technical hurdles, market education is also an issue.

A huge concern for the implementation, of IIoT in the automotive industry, is process and people management. The primary issue is not in people tracking or process tracking, but efficiency management and helping employees understand the technology.

Many people do not understand the significance of accessibility and how it can help their business to move forward; thus, basic education on the adoption of newer technologies is a hindrance as well.

PDF download at marketreportscenter.com/request-sample/562235 Make an Inquiry about this news


The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

About IIoT Market

The global IIoT market in the automotive industry is a key contributing segment of the global IIoT market. From a top-down perspective, Technavio has analyzed the global IIoT market as a parent market to set the context, in which the global IIoT market in the automotive industry will be analyzed.

The IIoT characterizes a set-up wherein every object or thing is embedded with a sensor and is efficient in automatically communicating its state with other objects and automated systems inside the environment. Each object represents a node in a virtual network, continuously transmitting a large volume of data about itself and its surroundings.

 

News From

Market Reports Center - One Stop Shop for all market research needsMarket Reports Center
Category: Market Research Publishers and RetailersCompany profile: Market Reports Center is an e-commerce platform obliging the needs of knowledge workers, experts, professionals who are subject to market research information for their work, or to make strategic business decisions. We are dedicated to create a comprehensive offering of market research which is accurate, credible and affordable. Market Reports Center currently has more than 1,20,000 plus titles and 30+ Publishers on our platform and growing consistently. We cover more than 35 industry verticals ...

For more information:

Make an Inquiry about this report HERE!
  • marketreportscenter.com/reports/56…ndustry-2017-2021
  • marketreportscenter.com/request-discount/562235
  • marketreportscenter.com/request-sample/562235
  • marketreportscenter.com