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(Transportation-News.com, February 16, 2016 ) The global connected car market, comprising sensors, processors, wireless & cellular modules, fleet manager, OEM services and aftermarket services is driven by the availability of fast and advanced communication & connectivity solution. With the enhancement for safer driving experience fueled with favorable rules & regulations in different countries would also favors the growth of connected car market across various geographic regions.
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The adoption of connected car in North America is high owing to the widespread connectivity solutions and ease in availability of products and services with government regulations for driver safety. The European region is showing huge market potential for the adoption of connected car. This growth is highly complimented with the eCall regulations, mandated by the European Parliament for the installation of eCall systems in the cars manufactured from the year 2015. Other regions such as Asia-Pacific would become the prominent market for connected cars owing to high growth in automotive market and enhancing connectivity infrastructures.
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The information and data in the publication “Global Connected Car Market Size, Share, Development, Growth and Demand Forecast to 2020” represent the research and analysis of data from various primary and secondary sources. A bottom-up approach has been used to calculate the global connected car market by geography, product & services, technology, connectivity solutions and application. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
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Geographically, North America dominated the global connected car market in 2014; whereas the Asia-Pacific market is expected to witness the fastest growth of 29.9% CAGR, during the forecast period. Technology agreements and collaborations are the key strategies adopted by the market players to enhance their market share. For instance, AT&T is working with automotive manufacturers to provide contextual voice controls, which would help to create a safer driving experience. TomTom launched the online turn-by-turn navigation service for customers, making it feasible to connect over a network. The introduction of automobiles equipped with advanced connectivity options is expected to positively impact the growth of the global connected car market.
The connected car market is consolidating with large number of collaborations taking place. The collaborations have enhanced the continuous product offerings in order to share the knowledge and technology at one platform. The key competitors in the global connected car market include Harman, AT&T Inc., TomTom, Telefonica, Verizon, Ford Motors Co., Mercedes Benz, BMW AG and Audi AG.
GLOBAL CONNECTED CAR MARKET SEGMENTATION
By Products & Services
Sensors
Processors
Fleet Manager
Wireless and Cellular Modules
OEM Services
Aftermarket Services
By Connectivity Solution
Integrated
Embedded
Tethered
By Technology Type
4G/LTE
3G
2G
By Application
Navigation
Telematics
Infotainment
By Geography
North America
Europe
Asia-Pacific
Latin America, Middle East & Africa (LAMEA)
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