Connected cars are connected by devices, both internal and external, networks, which help to communicate with other vehicles, home, office or infrastructure. These cars have access to the internet and wide variety of sensors, which send and receive signals in accordance with the services by the manufacturers that help to enhance customer experience with the real-time interaction of the vehicles.
The consumers’ demand for various car connectivity services/applications are met with various new products like music/audio, GPS navigation system, wireless connectivity, remote monitoring, vehicle maintenance, connected devices apps (e.g. smart home, IoT commerce), parking apps, smart & automobile diagnostics, etc. The increasing investment activities form the car manufactures and demand for the digital content from the consumers are expected to drive the market.
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According to TMR, it is estimated that the “Worldwide Connected Cars” market will witness a CAGR of around 37.4% during the forecast period 2016–2022. The market is analyzed based on four segments – technology, applications, connectivity, and regions. The technologies covered in the report are Wi-Fi, 4G, 3G, GNSS, and others. 4G LTE is the major technology being implemented in the connected cars and has a significant market share, growing at a CAGR of 44.5% during the forecast period 2016–2022.
The types of applications covered in the report are location based, infotainment & HMI, safety & security, convenience, driver assistance, and others. The customers are looking for convenience applications that will assist them while driving and provides more comfort, safety, and security to the drivers.
Connectivity and Technology Analysis
The types of connectivity covered in the report are embedded, integrated, and tethered. At present, the customers are demanding for integrated and tethered connectivity features for their cars, by which they can easily connect to their smartphones and other IoT devices. The investments by the governments in the smart cities projects will have a great impact on Wi-Fi technology market growth for the connected cars. The other technologies such as Zig-Bee, RFID, WiMax, Bluetooth & BLE, and NFC are also expected to support the market growth.
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The regions covered in the report are North America, Western Europe, Asia Pacific, Central Eastern Europe, Middle East Africa, and Latin America. North America is a leading region in connected cars market, where customers are upgraded with latest connected car technologies. European government has taken several initiatives and have made compulsory to have eCall facility for the cars. Western Europe is expected to have a moderate growth followed by Asia Pacific due to increase in investments by car manufacturers, OEMs, and telecom players.
Some of the key players included in the report are Daimler AG, Ford Motor Company, General Motors, Delphi Automotive PLC, NXP technologies, Nissan, Apple, IBM, QNX, Google, and other predominate players.
Many car manufacturers are collaborating with OEMs and telecom operators to innovate new technologies in the connected cars market. The leading players are now concentrating more on customer safety, security, & comfort, and accordingly, they are offering the products and services. They are also investing a lot in R&D to come up with various smart technologies.
The study covers and analyzes the “Worldwide Connected Cars” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalists in understanding the companies better and take informed decisions.
The major stakeholders are automobile manufacturers, technology & software providers, wireless carriers, and fleet operators.