The connected car, which once was a concept and limited to science fiction movies, is a reality today. Cars are extremely well connected these days and with extensive embedded hardware components combined with smart connectivity capabilities use an array of protocols to deliver key electronic, monitoring and diagnostic functions. It is now the hottest market where everybody is trying to be a part of it considering enormous potential the market holds.
The global connected car market is a very fragmented market and it is in a growing stage, where many stakeholders of the eco-system are forging strategic collaborations to create connected car solutions. The market revenue is estimated to reach $153.60 billion by 2020,” said Tariq Shaik, Infoholic Research.
The global connected car applications market is divided into Location Based Applications, Infotainment & HMI, Safety & Security, Convenience, Driver Assistance, and Others. Safety & Security application contributes the most to the applications market. Government initiatives and customers are concerned about overall safety, and accident is the major driving force behind customers adopting cars enabled with connectivity.
Connected cars connects to other devices within the car or devices, networks and services outside the car including other cars, home, office or infrastructure. The major stakeholders of connected cars are automotive majors, wireless carriers and engineering IT service providers. Some of the features that are used today are music/audio, GPS navigation system, wireless connectivity to make and receive phones, parking apps using a smartphone, automobile diagnostics. The future of connected cars includes LTE data connections & Wi-Fi, Vehicle-to-Vehicle (V2V) & Vehicle-to-Infrastructure (V2I) and autonomous cars. Two of the major hurdles that may hamper its rapid adoption are wireless connectivity infrastructure and consumers concerns of data safety & privacy. Some of the major market players include Apple, Google, IBM, GM OnStar, Daimler, Ford, QNX.
The report provides unique insights into an in-depth analysis of global connected cars market, drivers and restraints as well as growth opportunities. It also contains analysis and forecast revenues, competitive landscape, company profiles and industry trends.
The connected cars market is not new to the market but now it is one of the hottest market where everybody are trying to be a part of it considering enormous potential the market beholds. Globally 700 million cars are there on road and 60 million connected cars are produced annually. Government initiatives and spending on smart cities will favour the connected cars market. Car manufacturers such as BMW, Audi, Daimler AG are focusing on bringing in new technologies make the car driving experience safer and more personalised. Telematics companies have tie ups with the car manufacturers and network connectivity providers to expand their portfolio of services to a whole new market. Large vendors, as a part of their expansion strategy, will continue to acquire small players in the market. North America and Eastern Europe are the major market for connected cars whereas the emerging region Asia-Pacific (India and China) is expecting a high growth in industrial and infrastructure sector in the next five years.
Connected cars will enhance safety, traffic controllability, and overall car experience. The Global Connected Car market is expected to grow in the future mainly driven by adoption of technologies by customers and government initiatives in various regions. Automotive companies, tier1 suppliers, network carriers, modules plug-in, technology enablers, telematics provider and other will continue forge partnerships and create better connected car solutions. The global connected car market is expected to reach 153.6 billion by 2020.
Central Eastern Europe
Middle East & Africa
Location Based Applications
Infotainment & HMI
Safety & Security
Central Eastern Europe (CEE)
Middle East & Africa
Ford Motor Company
Delphi Automotive PLC
International Business Machines Corporation
Intelligent Mechatronic Systems – IMS
Jasper Technologies, Inc