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The global automotive IoT market is projected to reach a value of USD 635.48 billion by 2031, with a CAGR of 22.5% during the forecast period. The growing popularity of Wi-Fi hotspots and the need for connected automobiles are driving the development of Internet of Things technology in the automotive industry. In-car communication systems and navigation applications are key elements in this growth, with a high demand for real-time location-based services.
