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Connected Car Market (Connectivity Solutions - Integrated, Embedded, and Tethered; Services - Navigation, Multimedia Streaming, On-road Assistance, Remote Operation, Connected Parking, Autopilot, Vehicle Management, and Asset Tracking; End Market - OEM, and Aftermarket): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : December, 2020

  • Rep Id : AT00215

  • Category : Automotive, Aerospace & Defence

  • Status : Published

A recent report published by Infinium Global Research on connected car market provides in-depth analysis of segments and sub-segments in the global as well as regional connected car market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional connected car market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global connected car market. According to the report, the global connected car market is projected to grow at a CAGR of 21.3% over the forecast period of 2020-2026.

 

Market Insight

The Connected Car is the innovation have seen in over a century of the automotive industry. The connectivity of cars is opening up numerous possibilities for developing innovative and intelligent products and services. This includes app-controlled breakdown assistance, anti-theft protection, or emergency calls in the event of an accident. These cars provide users of vehicles added value when it comes to safety and comfort. The issues of data protection and data security must have top priority in this regard.

 

Connected vehicles tackle some of the biggest challenges of safety and the environment. The number of fatalities from vehicle crashes is a major problem that further drives the growing demand for the connected car market. The U.S. National Highway Safety Traffic Administration (NHTSA) estimates that around 94% of crashes are caused by driver error. This technology has the potential to address vehicle crashes by unimpaired drivers. The connected car will give all drivers the tools they need to anticipate potential crashes and significantly reduce the number of lives lost each year. It will likely be based on dedicated short-range communications (DSRC), a technology similar to WiFi. A DSRC is secure, reliable, and operates on a dedicated spectrum. These cars will be able to talk to each other within-vehicle or aftermarket devices that continuously share safety information with each other. This car also uses wireless communication to talk to traffic signals, work zones, and other types of infrastructure.  Furthermore, growing traffic that wasted a billion hours further provides a growing demand for the market. In addition, the total amount of wasted fuel billion gallons is created concern regarding the environment. This boosts the demand for the connected car.  The connected car will give real-time information that helps to make green transportation choices. It features safety warnings that alert drivers of potentially dangerous conditions before the driver is aware of them. However, the lack of infrastructure for connected cars is affecting the growth of the market. Moreover, the emergence of various technologies such as 5G and AI in vehicles provides a significant growth opportunity for the connected cat market.

 

North America dominates the connected car market. The growing vehicle safety and security norms, the emergence of IoT, and demand for vehicle-to-vehicle (V2V) connectivity technology, in the automotive industry are driving the growth of the connected car market in this region. Furthermore, the regional market has experienced high growth of ADAS solutions. In the United States, more than 5.6 million police-reported motor vehicle crashes occurred in 2013. The automotive industry spends nearly $100 billion globally on R&D out of which the U.S. spent $18 billion per year.

 

Segment Covered

The report on the globally connected car market covers segments such as connectivity solutions, services, and end market. On the basis of connectivity solutions, the sub-markets include integrated, embedded, and tethered. On the basis of services, the sub-markets include navigation, multimedia streaming, on-road assistance, remote operation, connected parking, autopilot, vehicle management, and asset tracking. On the basis of end market, the sub-markets include OEM and aftermarket.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Continental AG, Robert Bosch GmbH, Harman International Industries, Inc., Airbiquity Inc., Visteon Corporation, Alcatel Lucent Enterprise, Apple Inc., AT&T Inc., Delphi Automotive, and NXP Semiconductors N.V.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the connected car market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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