Revenue from the Automotive segment of the internet of things market worldwide 2018-2028

The global revenue in the 'Automotive IoT' segment of the internet of things market was forecast to continuously increase between 2024 and 2028 by in total 387.8 billion U.S. dollars (+78.48 percent). After the ninth consecutive increasing year, the indicator is estimated to reach 881.97 billion U.S. dollars and therefore a new peak in 2028.

The Statista Market Insights cover a broad range of additional markets.

Revenue of the Automotive IoT segment markets worldwide from 2018 to 2028 (in billion U.S. dollars)

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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:

The Automotive IoT market refers to the use of Internet of Things (IoT) technologies in the automotive industry. This includes the use of connected devices, sensors, and software to improve vehicle performance, safety, and efficiency. Integration of IoT components into vehicles made them a part of the network, enabling them to “communicate” with each other (Vehicle-to-vehicle or V2V), with the pedestrians (vehicle-to-pedestrian or V2P), infrastructure (vehicle-to-infrastructure or V2I) resulting in vehicle-to-everything (V2X) network.

Additional information:

The Internet of Things market compromise of revenue and revenue growth as the key performance indicators. The market consists of pure IoT revenues generated through the sale of hardware (such as sensors, chips, and other hardware), platforms (IoT platforms, security software and other software), connectivity (cellular, LoRa, SigFox and other connectivity) and services (integration &maintenance of equipment & systems). As an example, the pure IoT revenue for a smart security camera is only the component that makes the camera 'smart' and connected, not the full product price. Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Some of the key players include Tesla, TomTom, Bosch and Qualcomm.

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