Global Connected Car Market (2020 to 2025) - Emergence of Various Technologies Such as 5G and AI Present Opportunities
DUBLIN, Aug. 17, 2020 /PRNewswire/ -- The "Connected Car Market by Service (OTA Update, Navigation, Cybersecurity, Multimedia Streaming, Social Media, e-Call, Autopilot, Home Integration & Other), Form, End Market (OE, Aftermarket), Network, Transponder, Hardware and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global connected car market is projected to reach USD 166.0 billion by 2025, from USD 53.9 billion in 2020.
All car makers such as Ford, BMW, Audi, Volvo, Hyundai, and Toyota offer some connectivity in their vehicles.
Connected cars ease connectivity on wheels, offering comfort, convenience, performance, safety, and security along with powerful network technology. This enables the driver to connect with online platforms, thereby facilitating real-time communication. The rise in consumer demand for connectivity solutions, surge in need for constant connectivity, increase in dependency on technology, and an upsurge in the tech-savvy population are the key factors that contribute toward the growth of the connected car market. However, lack of proper communication infrastructure in developing countries will restrict the connected car market in the coming years.
Demand for high capacity ECUs due to an increase in electronic components in a connected car is expected to drive the ECU hardware market during the forecast period
The ECU plays a critical role in the connected car system and helps control different electronic systems of connected cars. The data generated through the hardware components are integrated into the ECU and transmitted to the cloud platform. Due to an increase in the number of electronics systems, the number of ECUs has increased, and thus, the demand for ECUs is growing for the connected car market.
However, the increasing number of ECUs per vehicle reduces efficiency, and various automotive giants are collaborating with OEMs to consolidate ECUs without affecting the functionalities. For instance, in 2017, Sasken Technologies Ltd. demonstrated its hypervisor-based consolidator that virtualizes infotainment and cluster systems. The key purpose of ECU consolidation is to converge various ECUs into a single, advanced ECU that can control multiple hardware functions.
The aftermarket segment is expected to grow at the highest CAGR rate within the connected car market
The demand for connected car services in the aftermarket is expected to increase in the near future due to technological advancements and an increase in demand for safety and comfort features in cars. According to a survey, the willingness to pay a subscription fee for connected services went from 21% in 2014 to 32% in 2015. Social media, live traffic, weather updates, and automatic emergency calling are the primary services for which customers are willing to pay monthly.
The North American market is expected to register the fastest growth during the forecast period
The North American connected car market is estimated to be the fastest. In North America, the US and Canada are economically stable and have a higher standard of living and disposable income, which leads to the demand for high-end connected car services and connectivity solutions. Infrastructure availability in the US attracts the global OEMs and Tier I to test and develop fully connected autonomous vehicles, and supportive government policies help them test vehicles on the road.
As people have high standards of living and disposable income in these countries, they would like to spend more on safety and comfort features. The demand for self-driving cars in the US is resulting in OEMs introducing advanced connected car technologies that are expected to drive the North American connected car solution and services market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Connected Car Market
4.2 Connected Car Market, by Region
4.3 Connected Car Market, by Form
4.4 Connected Car Market, by Service
4.5 Connected Car Market, by End Market
4.6 Connected Car Market, by Hardware
4.7 Connected Car Market, by Transponder
4.8 Connected Car Market, by Network
5 Market Overview
5.1 Introduction
5.2 Years Considered for the Study
5.3 Package Size
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Increased Demand for Enhanced User Comfort, Safety, and Convenience
5.4.1.2 Reduction in Fuel Consumption
5.4.2 Restraints
5.4.2.1 Lack of Infrastructure for Proper Functioning of Connected Cars
5.4.3 Opportunities
5.4.3.1 Emergence of Various Technologies Such as 5G and Ai
5.4.3.2 Increasing Popularity of Automation in the Automotive Sector
5.4.3.3 Developments of Ride Sharing and Mobility Services
5.4.4 Challenges
5.4.4.1 Cybersecurity
5.5 Revenue Missed: Opportunities for Connected Car Manufacturers
5.5.1 Revenue Shift Driving Market Growth
5.6 Connected Car Market, Scenarios (2018-2027)
5.6.1 Connected Car Market, Most Likely Scenario
5.6.2 Connected Car Market, Optimistic Scenario
5.6.3 Connected Car Market, Pessimistic Scenario
5.7 Product Matrix
6 Connected Car Market, by Service
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions
6.1.3 Industry Insights
6.2 Operational Data
6.2.1 Features of Various Major Connected Car Services Offered by OEMs
6.3 Navigation
6.3.1 Growing Demand for Route Tracking and Real-Time Traffic Monitoring Will Boost the Market
6.4 Remote Diagnostics
6.4.1 Need for Reducing Vehicle Downtime and Maintenance Costs Will Fuel the Market
6.5 Multimedia Streaming
6.5.1 Increase in Demand for Entertainment Features to Drive the Market
6.6 Social Media & Other Apps
6.6.1 Extensive Usage of Social Media and Other Apps to Drive the Market
6.7 Ota Updates
6.7.1 Easy Deployment of Software Updates Eliminate the Risk of Recall and Offer Cost Reduction
6.8 On-Road Assistance
6.8.1 Need for Assistance while Driving in Terms of Breakdown and Other Vehicle Health Issues Will Boost the Market
6.9 E-Call & Sos Assistance
6.9.1 Demand for Emergency Services and Safety Regulations Will Drive the Market
6.10 Cybersecurity
6.10.1 Demand for Data Privacy and Security of Information Will Drive Demand
6.11 Remote Operation
6.11.1 Wireless Operations Through Smartphones to Drive Demand
6.12 Collision Warning
6.12.1 Growing Adas Features to Drive the Market
6.13 Auto Parking/Connected Parking
6.13.1 Need for Improved Utilization of Available Parking Spaces Will Drive the Market
6.14 Autopilot
6.14.1 Connected Autonomous Cars to Drive the Market
6.15 Home Integration
6.15.1 Use of IoT in Homes Wil Drive the Market
6.16 Vehicle Management
6.16.1 Increase in Demand for Shared Mobility Will Drive the Market
6.17 Asset Tracking
6.17.1 High Demand for Security and Tracking Facilities by Fleet Operators to Drive the Market
7 Connected Car Market, by Form Type
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Operational Data
7.2.1 Features of Various Connected Car in Terms of Connectivity Form
7.3 Embedded
7.3.1 Reduction in Prices for Service Plans and Telematics Regulations Will Drive Market
7.4 Tethered
7.4.1 Offering of Basic Internet-Based Infotainment Features Would Restrict the Market
7.5 Integrated
7.5.1 Increase in Risks of Driver Safety Will Lead to Slow Growth of the Market
8 Connected Car Market, by End Market
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Original Equipment Manufacturer (OEM)
8.2.1 Increase in Demand for Safety and Security Services Will Drive the Oem Market
8.3 Aftermarket
8.3.1 Customer Willingness to Pay for Comfort and Safety Services Will Fuel the Aftermarket
9 Connected Car Market, by Hardware
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Head Unit
9.2.1 Infotainment Systems Will Drive the Head Unit Market for Connected Cars
9.3 Central Gateway (Cgw)
9.3.1 Transformation in Vehicle Network Architecture Will Drive the Market
9.4 Intelligent Antenna
9.4.1 Demand for Small and Powerful Antennas Will Boost the Intelligent Antenna Market
9.5 Electronic Control Unit (Ecu)
9.5.1 Demand for High Capacity Ecu Will Drive the Market in Future
9.6 Telematic Control Unit (Tcu)
9.6.1 E-Call Mandate in Europe and Safety and Security Regulations Elsewhere Will Boost the Tcu Market
9.7 Keyless Entry Systems
9.7.1 Need for Comfort and Convenience Will Drive the Keyless Entry System Market
9.8 Sensors
9.8.1 Demand for Adas and Autonomous Features Will Drive the Sensor Market
10 Connected Car Market, by Transponder
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Onboard Unit
10.2.1 Demand for Safety and V2V Communication Will Drive the Market
10.3 Roadside Unit
10.3.1 Smart Cities Will Drive the Roadside Unit Market
11 Connected Car Market, by Network
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 Operational Data
11.3 Dedicated Short Range Communication (DSRC)
11.3.1 V2X Communication Will Drive the Dsrc Market
11.4 Cellular
11.4.1 Advent of 5G Network Will Drive the Cellular Market
11.4.1.1 4G
11.4.1.2 5G
12 Connected Car Market, by Region
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions/Limitations
12.1.3 Industry Insights
12.2 Asia-Pacific
12.3 Europe
12.4 North America
12.5 Rest of the World
13 Competitive Landscape
13.1 Overview
13.2 Market Ranking Analysis
13.3 Competitive Leadership Mapping
13.3.1 Terminology
13.3.2 Visionary Leaders
13.3.3 Innovators
13.3.4 Dynamic Differentiators
13.3.5 Emerging Companies
13.4 Competitive Leadership Mapping - Connected Car Solution Providers
13.4.1 Strength of Product Portfolio
13.4.2 Business Strategy Excellence
13.5 Competitive Leadership Mapping: Connected Car Manufacturers
13.5.1 Strength of Product Portfolio
13.5.2 Business Strategy Excellence
13.6 Right to Win
13.7 Competitive Scenario
13.7.1 New Product Developments/Launches
13.7.2 Expansions
13.7.3 Acquisitions
13.7.4 Partnerships/Contracts
14 Company Profiles
14.1 Hardware Providers
14.1.1 Continental
14.1.2 Bosch
14.1.3 Harman
14.1.4 Visteon
14.2 Software Providers
14.2.1 Airbiquity
14.2.2 Cloudmade
14.2.3 Intellias
14.3 Oem Manufacturers
14.3.1 Tesla
14.3.2 Ford Motor Company
14.3.3 Audi
14.4 Network Providers
14.4.1 AT&T
14.4.2 Qualcomm
14.4.3 Verizon Communication
14.5 Iot/Mapping Solution Providers
14.5.1 Tomtom
14.5.2 Sierra Wireless
14.6 Others
14.6.1 Panasonic
14.6.2 Tech Mahindra
14.6.3 Microsoft Azure
14.6.4 Zubie
14.6.5 Bmw
14.6.6 Daimler
14.6.7 Telefonica
14.6.8 Luxoft
15 Recommendations
15.1 Asia-Pacific Will Be the Major Market for Connected Car Market
15.2 Embedded Form of Connectivity Can Be a Key Focus for Manufacturers
15.3 Conclusion
16 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ye60nt
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