Automotive IoT technology is expected to grow by 21% by the end of 2020

The automotive Internet of Things market is expected to build over 5.8 billion endpoints by the end of the year 2020. It is exactly a 21% hike from the running year's records. By the end of 2019, the records state that the count of endpoints will increase up to 4.8 billion.

The adaptation of Electricity Smart metering in commercial and residential sectors will boost the use of IoT technology. In 2020, Building automation with the use of IoT connected lighting devices will hold a greater growth rate. The growth forecast of the sector states up to 315 in the year 2020.

Along with other advancements, chronic condition monitoring will also bring in numerous endpoints. In most of the automotive cars, the additional devices will be embedded with IoT connectivity to fulfill certain tasks. The revenue prediction in the year 2020 in the IoT electronics sector is around $389 globally.

Western Europe, North America, and China will generate the maximum revenue of 75% as per the recent research. Other technologies that will contribute to boosting the global revenue of IoT electronics are network-oriented photocopying and printing and connected cars. These two use will draw major endpoints to gather around $38 billion and $72 billion in global revenue respectively.

The end-users will understand the efficiency of the futuristic applications of IoT technology and adapt the IoT assets for their business. Alfonso Velosa Vice President of Research at Gartner says that the businesses will adapt the new IoT assets without the support policies and data ownership needs.

The hike of endpoint users of IoT is increased by 21.5% since 2018 which is expected to remain consistent or grow higher in the coming years. Peter Middleton, senior director of research at Gartner says that physical security uses for indoor surveillance and detecting intruders will draw major endpoint consumers in the coming year.

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