According to a new report, “Automotive Digital Transformation Marketย by Component (Hardware, Software, and Service), by Connectivity (Embedded, Tethered, and Integrated), by Communication Type (In-Vehicle Communication, Vehicle-to-Vehicle Communication, and Vehicle-to-Infrastructure Communication), by Application (Infotainment, Navigation, Telematics, Advanced driver assist system, Body Electronics, Safety Systems, Power Electronics, and Others), by Sales Channel (OEM and Aftermarket), and by Vehicle Type (Passenger Vehicle and Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2023-2030” The automotive digital transformation can be defined as integration of digital technologies like big data, social media, and cloud computing in a vehicle. The introduction of Artificial Intelligence (AI) and Internet of Things (IoT) in vehicle has revolutionized the automotive industry.
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The improved manufacturing process of vehicle combined with automated customer relationship and digital marketing has transformed the work culture in automotive industry. Besides, the real time data of vehicle has opened new gates for innovation in the automotive landscape. Additionally, the possibility of vehicles driving themselves is becoming a reality due to collaboration of advanced digital transformation in automobile. Moreover, the convenience and ease of traveling is now achievable due to automotive digital transformation.
Rise in government expenditure on building vehicle to vehicle (V2V) infrastructure is driving the market of automotive digital transformation. Additionally, increase in sales autonomous and semi-autonomous vehicles are boosting the automotive digital transformation market. Besides, rising internet speeds and integration of vehicle features with smartphones are propelling the automotive digital transformation market. Moreover, growth in technological advancement is fueling the demand for automotive digital transformation. However, underdeveloped cloud infrastructure and rising threat from hackers is restraining automotive digital transformation market. Furthermore, integration of advanced safety features and Advanced Driver Assist System (ADAS) due to automotive digital transformation is proliferating the market growth.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง – https://www.alliedmarketresearch.com/request-for-customization/9970
Mobility-as-a-service to nurture the market growth
With technological advancement due to Artificial Intelligence (AI) and Internet of Things (IoT)in vehicles, the connected living has now become a reality. The integration of smartphone with automotive sector have enabled new possibilities in the research and development landscape. Moreover, the continued emergence and dominance of private and public ride sharing services is expected to dominate the growth of automotive sector in next few years. Besides, the launch of autonomous vehicle is developing the ride sharing experience to a greater extent. In 2018, Waymo LLC launched commercial self-driving car service for users in Phoenix metropolitan area.
By Component
Hardware
Software
Service
By Connectivity
Embedded
Tethered
Integrated
By Communication type
In-Vehicle Communication
Vehicle-to-Vehicle Communication
Vehicle-to-Infrastructure Communication
Key Market Players – Intel, IBM, Microsoft, Robert Bosch, Google, Apple, Texas Instruments, Cisco, NXP Semiconductors, Continental AG
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Questions answered in the automotive digital transformation market research report:
Q1. Which are the leading market players active in the automotive digital transformation market?
Q2. What are the current trends that will influence the market in the next few years?
Q3. What are the driving factors, restraints, and opportunities in the market?
Q4. What are the projections for the future that would help in taking further strategic steps?
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