About the Connected Car M2M Connections and Services Market in the UK
A connected car ecosystem comprises of many players such as telecommunications providers, third-party app vendors, connected car manufacturers, device manufacturers, operating system (OS) and platform providers, analytics providers, and aftermarket telematics providers. These players are forging partnerships to provide connected car M2M services to consumers at competitive prices. Connected technology enables drivers to access accurate and updated travel information on route options and learn about the possible cost and environmental impact of those options. For optimal fuel efficiency, vehicles can communicate with traffic signals to eliminate avoidable stops.
Technavio’s analysts forecast the connected car M2M services market in the UK to grow at a CAGR of 32.26% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the connected car M2M services market in the UK for 2016-2020. To calculate the market size, Technavio considers service revenue generated from OEM and aftermarket equipment and from infotainment, navigation, and telematics services.
The market is divided into the following segments based on usage:
Technavio Announces the Publication of its Research Report – Connected Car M2M Connections and Services Market in UK 2016-2020
Technavio recognizes the following companies as the key players in the connected car M2M services market in the UK: Audi, BMW, British Telecom, Gemalto, and GM.
Other Prominent Vendors in the market are: Delphi Automotive, Ford Motors, IBM, IMS, Mercedes-Benz Connect, Parrot Automotive, PSA Peugeot Citroën, Qualcomm, Sierra Wireless, Tech Mahindra, Toyota Motors, Volkswagen, Wipro, and Verizon Enterprise Solutions.
Commenting on the report, an analyst from Technavio’s team said: “A key trend which is boosting market growth is the deployment of V2X technologies in vehicles. V2V technology has gained importance in the automotive industry as it enables vehicles to send or receive any appropriate information during transit. This technology allows a vehicle to communicate, through the Internet, with any entity or infrastructure such as another vehicle with connected devices, vehicle management system provider, smart parking solutions installed in a locality, on road sensors for turning and speed breakers.”
According to the report, a key growth driver is the increasing awareness of safety and security among drivers. The safety and the security features are highly improved in the connected car segment, as it facilitates the detection of the critical situations before it happens and warns the driver through appropriate alerts/notifications. The features include the ability to contact emergency services, the capability to track stolen vehicles, and vehicle diagnostics and directions. Over the forecast period, safety and security from hackers gaining access to cloud-connected vehicles is likely to emerge as a major concern among the drivers.
Further, the report states that a major factor that could hamper market growth is the security and network integration. Auto manufacturers deploy different technologies to provide roadside assistance, anti-theft, navigation, remote vehicle diagnostics, and infotainment services. These integrations would create a security risk for the vehicles. With the vehicle manufacturers shifting toward providing advanced features such as linking external devices, the problems in integration would have an adverse impact on the company’s reliability.
Audi, BMW, British Telecom, Gemalto, GM, Delphi Automotive, Ford Motors, IBM, IMS, Mercedes-Benz Connect, Parrot Automotive, PSA Peugeot Citroën, Qualcomm, Sierra Wireless, Tech Mahindra, Toyota Motors, Volkswagen, Wipro, and Verizon Enterprise Solutions.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook