The automotive industry is at the forefront of IoT innovations, driving efficiency and sustainability through advancements like sensor error detection and battery life extension. Recent patents also focus on emissions management, location tracking, and power transfer, promising streamlined operations and a greener footprint. With strategic investments and US leadership in IoT adoption, its influence extends beyond automotive, shaping industries globally. GlobalData’s internet of things market report provides comprehensive analysis of the IoT market. 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 new Internet of Things (IoT) technologies through recent patents to innovate and enhance their businesses. For example, Halliburton Co's patent focuses on object interactions in augmented reality environments, while Qualcomm Inc's patents address positioning reference signal attack detection and fast automatic gain control in RF front-end circuitry. Zillow Group Inc's patent enables automated generation of visual data enhancements for camera view images in buildings, benefiting navigation for autonomous vehicles. Additionally, BlackBerry Ltd's patent introduces IoT asset tracking within intelligent transportation systems. These patents showcase how Automotive companies are utilizing IoT technologies to improve efficiency, security, and user experience, ultimately leading to enhanced operations and services in the automotive industry.
The industry experienced a 22% decline in the number of IoT-related patent applications in Q1 2024 compared with the previous quarter. On an annual basis, the number of IoT-related patent applications in the automotive industry witnessed a drop of 9% compared with Q1 2023.
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 Q1 2024, the number of IoT-related deals in the automotive industry grew by 11% compared with Q1 2023. On a quarterly basis, there was 50% drop in the number of deals in Q1 2024 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q1 2024, the automotive industry experienced a 0.13% drop compared with the previous quarter. On an annual basis, job postings also declined by 50%. Notably, computer and mathematical occupations, with a share of 20%, emerged as the top IoT-related job roles within the automotive industry in Q1 2024, with new job postings drop by 16% quarter-on-quarter. Architecture and engineering occupations came in second with a share of 10% in Q1 2024, with new job postings dropping by 26% over the previous quarter. The other prominent IoT roles include management occupations with a 6% share in Q1 2024, and business and financial operations occupations with a 4% share of new job postings.
Robert Bosch, OPmobility, Compagnie Generale des Etablissements Michelin, Mercedes-Benz Group, and Continental are among the top companies leading in IoT hiring within the automotive industry.
Countries driving adoption of internet of things in automotive industry
China 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, South Korea, Egypt and Sweden also maintain significant positions in IoT adoption within the automotive industry.
In summary, the automotive sector's embrace of IoT signifies a pivotal shift towards innovative solutions, strategic partnerships, and talent cultivation, paving the way for enhanced operational efficiency and customer-centric services. This trend underscores the industry's commitment to driving forward technological advancements and transforming the automotive landscape.
To further understand GlobalData's analysis on internet of things in the automotive industry, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
