In 2021, the global automotive IoT market was valued at US $115 billion, and is projected to grow at a GAGR of about 90%!
This impressive growth reveals some tendencies of what a vehicle becomes for humankind. First, end-users who are getting used to having their cars always know the optimal route and are ready to offer their favorite podcasts to listen to. The second is commercial transportation that uses vehicle data to make money. Accordingly, the automotive IoT solutions market is abundant with various technical bells and whistles, from 300-meter range lidars to heads-up display units which are actively advertised. Such solutions are really impressive, but best-in-class does not mean the best option for your business. For instance, you can equip the vehicle with extremely high-resolution computer vision cameras to identify obstacles on the route, but why do you need them if the well-trained neural network can perform the same much cheaper?