Europe Connected Vehicle Market (2018-2023)
Europe Connected Vehicle Market
The Europe connected vehicle market is expected to reach USD 30.44 Bn by 2023, expanding at a CAGR of 7% (2018-2023). Europe connected passenger car market is expected to reach USD 17.10 Bn by 2023 at a CAGR of 3% (2018-2023), and the Europe connected truck market is expected to reach USD 13.33 Bn by 2023, expanding at a CAGR of 12% (2018-2023).
The connected vehicle ecosystem is evolving in which Europe's connected car manufacturers and automotive OEMs are developing various connected solutions. On the basis of connectivity, demand for embedded solutions, tethered solutions, and integrated solutions for connected passenger cars has increased over the years. Similarly, the use of telematics and fleet management solutions for connected commercial vehicle has risen.
Ever increasing demand for electric vehicles from European consumers is playing a crucial role in boosting the market for a connected driving experience. The market is expected to gain major traction due to widespread adoption of mobile and wireless technologies.
Governments within the EU are introducing various regulations and initiatives regarding vehicle safety, which could be a favorable move for connected car manufacturers and dealers. Availability of advanced telecom and road infrastructure will also continue to fuel the European market for connected cars.
Original equipment manufacturers (OEMs) are also contributing to the expansion of the market. Car manufacturers are using the products and services provided by these OEMs, including sensors, processors, fleet managers, wireless, cellular models, OEM services and aftermarket services.
Key growth factors
Threats and key players
- Demand for a connected driving experience is growing rapidly in this region. Major auto-makers and OEMs are working to make this a reality very soon.
- Regulatory initiatives relating to safety and security will have a decisive effect on the adoption of OEM telematics all across Europe.
What's covered in the report?
- OEMs in Europe are facing challenges in the form of increasing costs, extended supply chains, more complex vehicles, increasing customer demands and the need for an unprecedented degree of manufacturing flexibility.
- Some of the key players operating in the market are:- Airbiquity Inc, Aptiv PLC, Autoliv, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH, TomTom, WirelessCar, and ZF Friedrichshafen.
1) Overview of the Europe connected vehicle market
2) Evolution of connected car solutions
3) Connected vehicle ecosystem
4) Connected vehicle- integration landscape model
5) Total number of embedded passenger car solutions in Europe by value (USD Bn) and volume (Mn units) 2018-2023,CAGR, and SWOT analysis for embedded solutions
6) Total number of integrated passenger car solutions in Europe by value (USD Bn) and volume (Mn units) 2018-2023, CAGR, and SWOT analysis for integrated solutions
7) Total number of tethered passenger car solutions in Europe by value (USD Bn) and volume (Mn units) 2018-2023, CAGR, and SWOT analysis for tethered solutions
8) Value proposition for connected passenger car services
9) Value proposition for original equipment manufacturers (OEM's)- connected passenger car services
10) Total number of fleet management solutions in Europe by value (USD Bn) and volume (Mn units) 2018-2023 and CAGR
11) Value proposition for connected truck services
12) Modular strategy - truck manufacturers and OEMs
13) Key opportunities in the Europe connected vehicle market
14) Key market trends in the Europe connected vehicle market
15) Analysis of company profiles of major public and private players operating in the marketWhy buy?
1. Understand the demand for connected vehicle products and services to determine the viability of the business.
2. Determine the developed and new markets where connected vehicle technology is consumed.
3. Formulate a product market strategy – based on the position in the value chain and determine the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products and services with the key players in the market.