According to study, “Middle East and Africa IoT in
Automotive Market (2018-2023)” some of the major
companies that are currently working in the Middle East and Africa IoT in
automotive market are Cisco Systems Inc., Microsoft, IBM Corp, Tom Tom N.V.,
Ford, General Motors, AT & T Inc., Audi AG, Google Inc., NXP Semiconductors
N.V.
IOT permits entrance of things
from a distant place through computing strategies and network infrastructure.
It assures improved efficiency and accuracy to send and receive data without
human interaction that helps accelerating the integration of the world into
computer based system. Additionally, IOT in automotive sector is used for
enabling the vehicles to connect with the exterior world and enhance driver
connectivity and safety. The demand of connected vehicle is driven due to increase
in self-driving and concurrent traffic alerts to improve the driving experience.
The Middle Eastern countries are
major importers of significant technologies and cars from Europe and U.S. Some
of the key countries such as Saudi Arabia, Qatar and United Arab Emirates (UAE)
are leader in use of technologies for automotive sector. Additionally in Africa
countries witnessing growing in traffic accidents making it risky to drive in
countries such as South Africa, Kenya, Sudan and Ethiopia.
Based on the connectivity form,
the IOT in automotive market is segmented into integrated, tethered and
embedded. The integrated connectivity offers access to navigation services and remote
control services. The tethered connectivity deals many internet protocol (IP)
services and the embedded solutions provides on road experiences for passengers
and drivers. In addition, on the basis of application, the market is segmented
into telematics, navigation, fleet & asset management, predictive
maintenance, collision avoidance, entertainment and infotainment.
Some of the new trends are involve
digital dashboards, deployment of advanced navigation systems and premium
infotainment systems etc. Additionally, public and private organizations are
progressively more digitalizing their productions to automate their functions
and improve efficiency.
Moreover, political unrest
inhibits the development of this market owing to low penetration rate in
various parts of this region. The countries such as Congo, Ghana and Egypt add
political risks to Multinational Corporations due to venture into a Greenfield,
joint venture or Brownfield investment in the automotive industry, creating bad
impact on market.
The market of IOT in automotive is
mainly driven by increasing in government funds for better traffic management. Use
of safety & security features of the passengersinvestment and funding in
connected vehicles, increasing new innovative products, and increasing demand
for smart-phone features in cars are mounting significantly led to the
development of the market.
Apart from advantages, some of the
major restraints factors include lack of infrastructure, high maintenance cost
& capital expenditure, additional cost burden on consumers, government
regulations and privacy & security issue etc. In addition, some new
opportunities are emergence of 5G technology and collaborations between various
industry players.
The UAE-Dubai are major regions
for the adoption of IOT. It is estimated that the market will be grown at a
CAGR of 19.29 %, with revenue of USD 2.7 billion, by 2023. In upcoming years,
it is expected that IOT in automotive market will be grown increasingly due to
high disposable income of people and technology advancement.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
