Global Connected Car Market (by Application, Connectivity Solution & Region): Industry Analysis & Outlook (2016-2020)
Connectivity is the ability to exchange information by electronic means. A connected vehicle enables a growing number of features and services that make the driving experience safer, more convenient, more compelling, more fun, and less costly. The features of connected cars includes emergency and roadside assistance, navigation and traffic/re-routing services, stolen vehicle recovery, hands free calling, Wi-Fi hot spots, infotainment apps, vehicle performance alerts, and remote vehicle controls.
“Connected Car” is generally referred to the component, which consists of both the physical hardware and the software, which is essential for internet-based services. The hardware generally consists of head unit display, human machine interface (HMI) and a telematics control unit (TCU).
The global connected car market is expected to see innovation driven growth in the coming years as the market will experience technological explosion. The growth of the market will be supported by demand for safety & driving assistance, which involves systems that allow drivers to reach their destination safely in the least possible time, at reasonable cost along with optimal fuel consumption, thereby shooting the demand for connected cars.
The key factors driving growth of the market includes increasing global telematics market, expansion of fleet management, favorable government policies, escalating smartphone shipments and increasing youth population. However, there are certain factors hindering the growth of the market like cyber security concerns, increasing complexity, cost optimization. The major trends featuring the market includes rise in the volume of DSRC technology installations, increasing adoption of new technologies, increasing demand for connectivity, rise in e-call systems and many more trends have been covered in the report.
The report “Global Connected Car Market (by Application, Connectivity Solution & Region): Industry Analysis & Outlook (2016-2020)” offers an in-depth analysis of the overall market. It covers the regional and global aspect of the market. Competition is concentrated in the hands of few top notch companies, of which Apple, AT&T Inc., Audi and Alcatel Lucent have been covered in the report.