The Internet of Things (IoT) has permeated various industries, bringing transformative innovations to the automotive sector. In this context, automotive companies are not only capitalizing on IoT patents but also forging strategic partnerships to stay at the forefront of industry advancements. These developments have had a notable impact on hiring trends, and certain countries are emerging as leaders in IoT adoption within the automotive industry. GlobalData’s Internet of Things (IoT) Market Size, Share and Trends, Analysis and Forecast 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) to innovate and improve their businesses. These patents encompass a diverse range of technologies, all geared towards advancing IoT capabilities. LG Corp's patent focuses on optimizing wireless communication to prevent resource collisions in NR V2X, ensuring more efficient utilization of resources and reducing signaling overhead. Another patent addresses the challenge of varying interpretations of Transport Block Size in V2X communications, providing scheduling information and specific values for accurate and clear communication. Telia Co AB introduces a method for analyzing vehicle accidents, streamlining response and investigation processes by combining accident notifications, network node inquiries, and data analysis. NeuroPace Inc. seeks to enhance therapy for seizure patients by mimicking natural seizure termination, aiming to shorten seizure duration and improve patient outcomes. Lastly, Johnson Controls Tyco IP Holdings llP introduces a building data platform, enabling better management through analytics derived from digital twin data.
These patents provide Automotive companies with valuable IoT technologies and applications that can enhance their operations, improve communication, optimize therapy, and streamline building management.
The industry experienced an 8% decline in the number of IoT-related patent applications in Q2 2023 compared with the previous quarter. On an annual basis, the number of IoT-related patent applications in the automotive industry witnessed a rise of 13% compared with Q2 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 Q2 2023, the number of IoT-related deals in the automotive industry grew by 43% compared with Q2 2022. On a quarterly basis, there was 25% increase in the number of deals in Q2 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q2 2023, the automotive industry experienced a 11% drop compared with the previous quarter. On an annual basis, job postings also grew by 48%. Notably, computer and mathematical occupations, with a share of 21%, emerged as the top IoT-related job roles within the automotive industry in Q2 2023, with new job postings drop by 28% quarter-on-quarter. Architecture and engineering occupations came in second with a share of 9% in Q2 2023, with new job postings dropping by 7% over the previous quarter. The other prominent IoT roles include management occupations with a 7% share in Q2 2023, and business and financial operations occupations with a 3% share of new job postings.
Robert Bosch, Schaeffler, Compagnie Generale des Etablissements Michelin, Compagnie Plastic Omnium, 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, Germany, France, India and Australia also maintain significant positions in IoT adoption within the automotive industry.
In summary, the automotive sector is witnessing shifts in both IoT-related patent filings and job opportunities. The increasing number of strategic deals underscores the critical role of IoT in the industry. Major players such as Robert Bosch, Schaeffler, and Compagnie Generale des Etablissements Michelin are actively seeking new talent. China stands at the forefront of IoT integration, while other nations are also making significant contributions to driving IoT technology forward within the automotive domain.
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