The automotive industry is propelling innovation through cutting-edge IoT patents, spanning applications like route provision devices and advanced gaming control. These innovations empower companies to enhance navigation, improve connectivity, and optimize network performance. Amidst fluctuations in IoT-related patent applications, strategic deals and job postings, this sector navigates opportunities to innovate and thrive in the dynamic IoT landscape. The growing application of internet of things will prove to have a transformative impact across multiple sectors. GlobalData’s Internet of Things (IoT) Market report helps keep abreast of the latest trends in internet of things, market opportunity forecast and the competitive landscape. Buy the report here.
This article presents a quarterly round-up of the latest trends in the automotive industry regarding IoT. It provides an overview of recent developments in IoT-related deals, talent acquisition, and patent filings within the automotive industry.
Diverse applications of internet of things in automotive industry
Automotive companies are leveraging the latest patents in the field of internet of things (IoT) technologies to innovate and improve their businesses. These patents cover a range of applications, including route provision devices, wireless communications, resource selection for 5G NR V2X communications, advanced gaming and virtual reality control using radar, and sidelink ranging and multilateration.
The route provision device patent enables vehicles to receive route information from sensors, allowing for more efficient navigation. The wireless communications patent focuses on obtaining situation sensing information of the surrounding environment, enhancing the connectivity and communication capabilities of electronic devices. The resource selection patent improves the selection and reservation of communication resources in 5G NR V2X communications, optimizing network performance. The advanced gaming and virtual reality control patent utilizes radar technology to track small motions and displacements, enhancing user control actions in gaming and virtual reality experiences. Lastly, the sidelink ranging and multilateration patent enables wireless communication systems to determine distances between transceivers based on signal transmission and reception.
By acquiring these patents, automotive companies can benefit from enhanced IoT technologies and applications. These technologies enable more efficient navigation, improved connectivity and communication capabilities, optimized network performance, and enhanced user control actions. Overall, these patents provide opportunities for automotive companies to innovate and improve their businesses in the IoT space.
The industry experienced a 33% decline in the number of IoT-related patent applications in Q3 2023 compared with the previous quarter. On an annual basis, the number of IoT-related patent applications in the automotive industry witnessed a drop of 23% compared with Q3 2022.
Strategic deal trends in internet of things in automotive industry
Automotive companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in IoT. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of IoT in the automotive industry.
In Q3 2023, the number of IoT-related deals in the automotive industry grew by 9% compared with Q3 2022. On a quarterly basis, there was 20% increase in the number of deals in Q3 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q3 2023, the automotive industry experienced a 32% drop compared with the previous quarter. On an annual basis, job postings also declined by 41%. Notably, Computer and Mathematical Occupations, with a share of 25%, emerged as the top IoT-related job roles within the automotive industry in Q3 2023, with new job postings drop by 20% quarter-on-quarter. Architecture and Engineering Occupations came in second with a share of 9% in Q3 2023, with new job postings dropping by 30% over the previous quarter. The other prominent IoT roles include Management Occupations with a 9% share in Q3 2023, and Business and Financial Operations Occupations with a 4% share of new job postings.
Robert Bosch, Continental, Compagnie Generale des Etablissements Michelin, Compagnie Plastic Omnium, and Valeo are among the top companies leading in IoT hiring within the automotive industry.
Countries driving adoption of internet of things in automotive industry
Germany is the leading country in IoT adoption within the automotive industry, boasting the highest number of IoT-related patents, jobs, and deals. Meanwhile, the US, China, Japan and India also maintain significant positions in IoT adoption within the automotive industry.
In summary, as the automotive sector embraces IoT innovation, recent trends underscore a strategic focus on patent acquisitions, investments, and hiring initiatives. Despite a temporary decline in IoT-related patent applications, the industry's commitment to innovation is evident through increased strategic deals and growing partnerships.
To further understand GlobalData's analysis on internet of things in the automotive industry, buy the report here.