Connected Car is a vehicle which is connected to the internet, usually via a wireless local area network (WLAN), that allows the car to share internet access and data with other devices inside and outside the car. The internet connections send traffic warning, collisions and other safety alerts to the vehicle. A connected car assists with a wide variety of potentially useful functions such as the car’s traffic monitoring shows traffic information which helps the driver to determine whether to hold-up on the route or to follow the best alternative route offered by the system. The connected car provides remarkable benefits such as internet radio, voice commands, roadside assistance, collision warning and contextual help which helps in enhancing the overall experience of the driver.
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The major factors contributing towards the growth of the Global Connected Car market includes the increasing demand for enhanced user comfort and the rising in trend of in-vehicle connectivity solution among the target consumers. The consumers are now willing to stay connected with the outer world even while travelling. The in-vehicle connectivity solution helps the user to sync their smartphones with the vehicle’s connectivity system and allows the user to make/receive phone calls, thereby attracting a large number of consumers towards the adoption of connected cars over the coming years. Various multinational giants are largely focusing on the development of advanced connecting systems which works similar to smartphones and tablets of the end-user, will drive the demand for the Global Connected Car market. In addition to this, the incorporation of advance diagnostic system in the connected car will significantly fuel the growth of the market. The diagnostic system will keep a track of the vehicle’s smoke emission, fuel consumption, thereby monitoring the overall health of the engine. The increasing government initiatives towards development in intelligent transportation system in order to improve the driver’s and passenger’s safety, will further complement the growing demand of the market. On the other hand, the breaking risk of the in-vehicle connectivity system will hamper the growth of the Global Connected Car market during the forecast period.
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Various notable players operating in the market include Continental AG, Robert Bosch GmbH., Airbiquity Inc., Cloudmade, Tesla, Ford Motor Company, AT & T, Qualcomm Technologies, Inc., TomTom International BV., Sierra Wireless among others.
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The Global Connected Car market has been segmented based on Service, Form, End Market, Hardware, Transponder, Network, and Key Region. Based on Services, the market is segmented into Operational Data, Navigation, Remote Diagnostics, Multimedia Streaming, Social Media & Other Apps, Ota Updates, On-Road Assistance, E-Call & Sos Assistance, Cybersecurity, Remote Operation, Collision Warning, Auto Parking/Connected Parking, Autopilot, Home Integration, Vehicle Management and Asset Tracking. Based on Form, the market is segmented into Operational Data, Embedded, Tethered and Integrated. Based on End Market, the market is segmented into Original Equipment Manufacturer (OEM) and Aftermarket. Based on Hardware, the market is segmented into Head Unit, Central Gateway (CGW), Intelligent Antenna, Electronic Control Unit (ECU), Telematic Control Unit (TCU), Keyless Entry Systems and Sensors. Based on transponder, the market is segmented into Onboard Unit and Roadside Unit. Based on Network, the market is segmented into Operational Data, Dedicated Short Range Communication (DSRC) and Cellular.
Key questions answered in this research report:
- At what pace is global Connected Car market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Connected Car market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Connected Car market?
- Which Service generated maximum revenues in 2019 and identify the most promising Service during the forecast period?
- What are the various Form of global Connected Car market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
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