Global Connected Car Market (2016 - 2022)
The Automotive industry is going through a phase of digitalization. Five years down the line, vehicles would be transformed into communication objects. 24*7 connectivity access is the need of the hour, as people wish to stay connected with the outer world even while travelling in their vehicles. This task of transforming a vehicle into a connectivity device is a crucial challenge faced by automobile manufacturers. Use of 3G and 4G internet services for providing connectivity in vehicles would help transform cars into smart portable devices. New hi-tech devices, smart phones, high-speed internet, various applications & open sources such as android systems have transformed the concept of connected vehicles.
Integrated, Embedded and Tethered are the different connectivity solutions that are transforming the cars into smart portable device. Connected Car finds its major application in navigation, telematics and infotainment. Navigation application segment would dominate the global connected car market, with a market share of approximately 42.7% in 2015. Increasing need for connectivity on the move is the major driver for the connected car adoption. Further, developed counties are the major adopters of connected car. On the other hand the developing countries have recently started investing in technologically advanced products including connected car. This would provide wide-range of growth opportunities for the companies operating in the market to target the emerging economies such as India, Malaysia, Brazil and other Middle Eastern countries.
The market of connected car market is further segmented based on product & service into sensor, processor, fleet manager, wireless & cellular module, OEM service and aftermarket service. For better understanding of the market penetration of connected car the global connected car market is analyzed based on geographies and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Russia, Germany, U.K., France, Spain, Italy and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and rest of Asia-Pacific) and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and rest of LAMEA).
The report covers the analysis of key stake holders of the connected car market. Key companies’ profiled in the report includes Telefonica, S.A., Verizon Communications, Inc., Harman International Industries, Incorporated, TomTom NV, AT&T, Vodafone Group Plc, Ford Motor Company, Bayerische Motoren Werke AG, AUDI AG and Daimler AG.