Connected Car M2M Connections and Services Market in WE 2016-2020
About Connected Car M2M Connections and Services
Connected cars enable drivers to connect with online platforms and obtain real-time communication such as real-time traffic updates during travel. Different factors such as rising demand for constant connectivity, increased dependence on technology, and the growing number of tech-savvy customers have fueled the growth of the connected car M2M connections and services market.
Technavio’s analysts forecast the connected car M2M services market in Western Europe to grow at a CAGR of 26.38% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the connected car machine-to-machine (M2M) connections and services market in Western Europe for 2016-2020. To calculate the market size, the report considers the revenue generated from OEM and aftermarket equipment.
The market is divided into the following segments based on application:
Technavio Announces the Publication of its Research Report – Connected Car M2M Connections and Services Market in WE 2016-2020
Technavio recognizes the following companies as the key players in the Connected Car M2M Connections and Services Market in WE: Audi, BMW, Gemalto, General Motors and Deutsche TeleKom.
Other Prominent Vendors in the market are: Delphi Automotive, Ford Motors, IBM, Intelligent Mechatronic Systems (IMS), Mercedes-Benz Connect, Parrot Automotive, PSA Peugeot Citroën, Qualcomm, Sierra Wireless, Tech Mahindra, Toyota Motors, Volkswagen, and Wipro.
Commenting on the report, an analyst from Technavio’s team said: “Smart parking aids to reduce traffic congestions in highly populated cities. These smart parking systems use sensors deployed in the center of the parking area. The data gathered from these sensors help to obtain information regarding the number of standby vehicles and the number of vehicles in the queue to acquire parking space.”
According to the report, connected cars have safety and security features that help in early detection of critical situations, thereby alerting the driver through appropriate alerts/notifications. In the automotive industry, IoT enables effective communication during an emergency.
Further, the report states that issues with security and network integration hinders the market growth.
Audi, BMW, Gemalto, General Motors, Deutsche TeleKom, Delphi Automotive, Ford Motors, IBM, Intelligent Mechatronic Systems (IMS), Mercedes-Benz Connect, Parrot Automotive, PSA Peugeot Citroën, Qualcomm, Sierra Wireless, Tech Mahindra, Toyota Motors, Volkswagen, Wipro.