NEW YORK, Feb. 28, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05336631
The global connected car market is estimated to be USD 72.89 billion in 2017 and is projected to reach USD 219.21 billion by 2025, at a CAGR of 14.8% from 2017 to 2025. The major factors driving the growth of the market include an increase in vehicle legislation and industry compliances regarding safety and cybersecurity of the vehicle, and increasing demand for convenient features, such as navigation, remote diagnostics, and multimedia streaming.
The new vehicle safety norms are encouraging automakers to make vehicle data more secure from remote hacking and malfunctioning, which in turn is increasing the demand for connected cars. On the other hand, the absence of strong network infrastructure in developing countries may create a challenge to the growth of the connected car market.
Increase in government mandates is expected to drive the embedded segment of the connected car market across the globe
The governments of respective countries globally are taking initiatives for making safety features, such as eCall and vehicle tracking mandate. Hence, the government mandates are fueling the market of the embedded segment, as automobile manufacturers would offer connected feature as a standard offering.
Various digital systems, such as Global Positioning System (GPS) tracking systems, remote diagnostics systems, fuel management systems, and driver information systems, are provided as a standard feature in cars by Original Equipment Manufacturers (OEMs). In North America and Europe, OEMs such as General Motors (US), Daimler (Germany), Volvo (Sweden), and Volkswagen AG (Germany) offer embedded connected solutions in their car models. Furthermore, these services would help the automotive companies in analyzing the data generated by Electronic Control Units (ECUs), which would provide connected services through the cloud platform.
Hence, the government mandates are expected to drive the connected car market for the embedded segment, globally
Asia Pacific is expected to remain the largest and fastest-growing region during the forecast period
Asia Pacific is expected to be the fastest-growing region for connected cars during the forecast period. One of the key drivers for the Asia Pacific market is the increased demand for infotainment and navigation services, particularly in China, Japan, and South Korea. The tech-savvy population in these countries demands a better and connected driving experience.
China already has some regulations in place in this domain. In 2017, the Chinese Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) issued a draft to establish national standards for China's Intelligent and Connected Vehicles (ICVs).
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 39%, Tier 2 – 42%, Tier 3– 19%
• By Designation: C-level – 58%, D-level – 36%, Others – 26%
• By Region: North America – 41%, Europe – 32%, Asia Pacific – 21%, RoW – 6%
Major players profiled in the report are:
• Bosch (Germany)
• Continental (Germany)
• Denso (Japan)
• Delphi (UK)
• Harman (US)
• ZF (Germany)
• NXP (Netherlands)
• Valeo (France)
• Autoliv (Sweden)
• Aisin Seiki (Japan)
• Infineon (Germany)
• Hella (Germany)
The report segments the connected car market and forecasts its size, by volume and value, on the basis of regions (Asia Pacific, Europe, North America, and RoW), network [Dedicated Short-Range Communication (DSRC) and cellular], service (connected service, safety and security, and autonomous driving), hardware (smart antenna, display, ECU, and sensors), end market (OEM and aftermarket), form (embedded, tethered, and integrated) and transponder (on-board unit and roadside unit). The qualitative analysis of advanced features is also provided.
Reasons to Buy the Report:
This report contains various levels of analysis, including industry analysis (industry trends, technology overview, and competitive leadership mapping) and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the connected car market, competitive landscape matrix, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants and small firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the mentioned 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
• Market Penetration: The report offers comprehensive information about the connected car market and the top 12 players in the market.
• Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the connected car market.
• Market Development: The report offers comprehensive information about the connected car market. The report analyzes the connected car market across regions and provides comprehensive information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the connected car market.
Read the full report: https://www.reportlinker.com/p05336631
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