DUBLIN, June 22, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Connected Car M2M Connections and Services Market in SEA 2016-2020" report to their offering.
The analysts forecast the connected car M2M connections and services market in SEA to grow at a CAGR of 34.27% during the period 2016-2020.
Connected Car M2M Connections and Services Market in SEA 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Over the years, various connectivity solutions have been developed by automotive manufacturers and service providers such as M2M connectivity platform. The M2M feature in a car enables interconnectivity between two vehicles. Innumerable sensors and processors are integrated into the car provide accurate and real-time information of the surrounding environment to the car driver.
An emerging trend which will have a big impact on market growth is the deployment of V2X technology in vehicles. V2V technology has gained importance in the automotive industry as it enables vehicles to send or receive any appropriate information during transit. V2X technology is gaining momentum in the connected car segment. This technology allows a vehicle to communicate through the internet with any entity or infrastructure such as another vehicle with connected devices, vehicle management system providers, smart parking solutions installed in a locality, on-road sensors for turning and speed breakers.
According to the report, a key growth driver is safety and security awareness among drivers. Security and security features are highly improved in the connected car segment with the detection of critical situations before it happens and warning through appropriate alerts and notifications. The features include the ability to contact emergency services, the capability to track stolen vehicles, and vehicle diagnostics and directions. Over the forecast period, safety and security from hackers gaining access to cloud-connected vehicles is likely to emerge as a major concern among the drivers.
Further, the report states that one challenge that could hamper market growth is the high cost of connected car M2M equipment and services.
To calculate the market size, the report considers the following:
- Service revenue generated from OEMs and aftermarket equipment only. It does not include OEMs hardware revenue and connected car sales revenue
- the revenue includes the per year service revenue of Audi connect, and not the device or module cost installed on the Audi vehicle
- Revenue from safety and driver assistance, infotainment, vehicle management, insurance-based telematics, and others
- Data analytic services and automotive application
- Audi Connect
For more information visit http://www.researchandmarkets.com/research/hc4vwm/connected_car_m2m
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SOURCE Research and Markets