Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.