Connected Cars Market Research
A new market study, titled “Connected Cars Market Research ” has been featured on Market Research Future.
The global connected car market is predicted to expand at an incredible CAGR over the forecast period (2016-2027) owing to the need for constant connectivity, asserts Market Research Future (MRFR). Connected cars facilitate connectivity on wheels providing convenience, performance, comfort, security, and safety along with powerful network technology. Connected cars allow the drivers to get connected to the online platforms and facilitate real-time communication. Connected cars are equipped with advanced technologies and sensors. The cars can communicated with another car which is travelling on the same road and exchange information regarding weather, road blocks, accidents, traffic, etc.
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Drivers and Constraints Impacting the Market
The need for constant connectivity, growing demand of the consumers, increasing number of tech-savvy people, and growing dependency on technology are some of the major factors stimulating the market growth over the forecast period. Several connectivity solutions such as Machine-to-Machine connectivity platforms have been developed by the service providers and car manufacturers. The Machine-to-Machine connectivity provides interconnectivity between two connected cars. This is likely to propel the market growth over the assessment period. Moreover, fast connection to the wireless network and advanced infotainment systems are the two prominent features enhancing the market growth over the years.
On the flip side, lack of strong network infrastructure in developing countries along with increasing risk of cyber security for smart vehicles are hindering the market growth during the assessment period.
Global Connected Car Market: Segmental Analysis
The global connected car market has been segmented on the basis of technology, services, components, connectivity, and region.
By mode of technology, the global connected car market has been segmented into WiFi & Bluetooth, 3G, 2G, and, LTE. Among these, the 2G service will gradually fade out and will be replaced by LTE and 3G technology due to rapidly changing telecommunication technology along with advent of reliable and faster communication networks.
By mode of components, the global connected car market has been segmented into processors, sensors, cellular, and wireless modules.
By mode of services, the global connected car market has been segmented into autonomous driving and vehicle management, well-being, OEM services, safety, and entertainment.
By mode of connectivity, the global connected car market has been segmented into tethered, integrated, and embedded. Among these, the integrated connectivity is expected to occupy the maximum share owing to the consumer freedom of choice in customizing their data plans and connectivity devices.
Regional Insights
Geographically, the connected cars market spans across regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World.
Competitive Analysis
Some of the major players operating the global market for connected cars areFord Motor Company (U.S.), General Motors (U.S.), Freescale Semiconductor Inc. (U.S.), Texas Instruments Incorporated (U.S.), BMW (Germany), Sierra Wireless (Canada), NXP Semiconductors (Netherlands), Honda Motor Co. Ltd. (Japan), Microsoft Corporation (U.S.), Audi AG (Germany), Apple Inc. (U.S.), and others.
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The Business Research Company published its Connected Cars Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Connected Cars market.
The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.The report covers the connected cars market’s segments- 1) By Product Type: Embedded, Tethered, Integrated, Others2) By Services: Driver Assistance, Safety, Entertainment, Well-Being, Vehicle Management, Mobility Management, Others3) By Application: Navigation, Infotainment, Telematics.View Complete Report: https://www.thebusinessresearchcompany.com/report/connected-cars-market-global-report-2020-30-covid-19-growth-and-changeConnected Cars Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it.
The market is then expected to recover and reach $109.92 billion in 2023 at CAGR of 15.95%.Connected car companies are increasingly developing new technologies such as digital and autonomous technologies in order to increase their revenue and also for gaining a competitive edge over their rivals.Few Points From Table Of Content1.
Connected Cars Market Regional And Country Analysis……25.
Connected Cars MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Connected Cars Market.
The growth sectors of the Connected Cars Market are identified with precision for a better growth perspective.The global connected car market is predicted to expand at an incredible CAGR over the forecast period (2016-2027) owing to the need for constant connectivity, asserts Market Research Future (MRFR).
Connected cars allow the drivers to get connected to the online platforms and facilitate real-time communication.
Connected cars are equipped with advanced technologies and sensors.
The cars can communicated with another car which is travelling on the same road and exchange information regarding weather, road blocks, accidents, traffic, etc.Drivers and Constraints Impacting the MarketThe need for constant connectivity, growing demand of the consumers, increasing number of tech-savvy people, and growing dependency on technology are some of the major factors stimulating the market growth over the forecast period.
Several connectivity solutions such as Machine-to-Machine connectivity platforms have been developed by the service providers and car manufacturers.
