Global Connected Cars Market, By Technology (2G, 3G, 4G, GNSS), By Connectivity (Embedded, Integrated, Tethered), By Applications (Location Based, Infotainment & HMI, Safety & Security, Convenience, Driver Assistance), By Regions – Trends & Forecast: 2015–2020
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.
The connected cars market is growing rapidly with the CAGR of 33.38% during the period 2015-2020. The market is growing due to increase in safety reasons and need for driver assistance. Also, the additional features of the cars such as remote monitoring, vehicle maintenance and usage insurance are fostering the use of connected cars in the developed regions. However, increasing manufacturing cost will impact the market in the developing regions as customer there are not ready to accept the new technology with the cost. North America is the highest revenue generator capturing more than 50% of the market share in 2015.
One of the major trend in the market is increasing in the cloud providers. The market for cloud is increasing Y-o-Y putting an impact on each and every service. Also, the organizations are trying to put the data in cloud to analyse the real-time data to improve performance, efficiency and safety.
Some of the major market players include Apple, Daimler, Google, GM OnStar, IBM, Ford, and QNX. The report also consists of companies to watch for such as Intelligent Mechatronics Systems, Jasper Technologies, and Mojio.
This study covers and analyses “Connected Cars Market” globally. Bringing out the complete key insights of this industry, this reports aims to provide opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.