Connected Car Market Latest Development and Trends

CITY, Country, 2019-Nov-15 — /EPR Network/ —The Connected Car Market is projected to reach USD 219.21 Billion by 2025, at a compound annual growth rate (CAGR) of 14.8% during the forecast period.

Some of the major drivers identified an increase in industry compliance norms and government mandates supporting connected technology in passenger cars.

The global connected car market is segmented by network, service, transponder, form, end market, hardware, and region. The report discusses various types of features, such as navigation, remote diagnostics, multimedia streaming, on-road assistance, eCall, and auto parking. The connected services segment is expected to account for the largest market share in the global market, which would grow at a significant CAGR during the forecast period. The growth of connected car services is expected to be driven by an increase in demand for convenient features and an increase in government mandates. Furthermore, to understand the type of end market, the report discusses the global market under 2 distinctive end market types, namely, Original Equipment Manufacturer (OEM) and aftermarket. To understand the market in different forms, the global market is segmented into embedded, tethered, and integrated; by hardware into smart antenna, display, Electronic Control Unit (ECU), and sensors; by transponder into roadside unit and on-board unit; and by network into Dedicated Short-Range Communication (DSRC) and cellular. The extensive study has been done on 4 key regions, namely, Asia Pacific, Europe, North America, and the Rest of the World (RoW).

Major players profiled in the report are:

• Bosch (Germany)
• Continental (Germany)
• Denso (Japan)
• Delphi (UK)
• Harman (US)
• ZF (Germany)
• NXP (Netherlands)
• Valeo (France)
• Autoliv (Sweden)
• Aisin Seiki (Japan)
• Infineon (Germany)
• Hella (Germany)

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102580117

The connected car technology is the stepping stone for automakers to achieve the goal of launching driverless cars by 2030. Also, carmakers are gradually promoting the market for autonomous cars by first releasing connected and partially automated cars. Autonomous cars sense their surroundings with techniques such as radar, LiDAR, GPS, and other sensors. As of 2017, approximately 25–30 sensors were there in a connected car which is expected to grow more than three-fold by 2025. In recent years, a few companies have tested automated driving using onboard sensors and high-resolution digital maps (V2N). However, the industry experts believe that 5G-based V2V and V2I would allow better adaptation of moving vehicles in accordance with the nearby traffic and offer higher customer satisfaction. Advanced control systems in these cars interpret the sensory information to identify appropriate navigation paths, obstacles, and relevant signage.

The embedded connected car solution is expected to hold a major share of the connected car market. The growth of an embedded form of a connected solution in the long term can be attributed to various disruptive factors such as government mandates, change in the pricing model, and an increase in cloud-based services. The governments of several countries have introduced mandates related to telematics applications of connected cars. These include mandates such as eCall and stolen vehicle tracking. Developed countries such as the US and Western Europe have already mandated safety applications of the connected cars, which in turn will drive the market for embedded forms of a connected solution. Moreover, upcoming emission standards in India are likely to impose the installation of onboard diagnostics port in vehicles.

Asia Pacific is expected to be the fastest-growing region for connected cars during the forecast period. One of the key drivers for the Asia Pacific market is the increased demand for infotainment and navigation services, particularly in China, Japan, and South Korea. The tech-savvy population in these countries demands a better and connected driving experience. China already has some regulations in place in this domain. In 2017, the Chinese Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) issued a draft to establish national standards for China’s Intelligent and Connected Vehicles (ICVs).

Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=102580117

Target Audience:

• Automobile manufacturers
• Automobile organizations/associations
• Cloud service providers
• Compliance regulatory authorities
• Connected car hardware manufacturers
• Government agencies
• Information Technology (IT) companies and system integrators
• Investors and Venture Capitalists (VCs)