Market Analysis and Insight: Global Connected Car Market
Global Connected Car Market By Service (Connected services, Safety and security, Autonomous driving), Network (Dedicated Short-Range Communications (DSRC), Cellular), Transponder (On-Board Unit (OBU), Roadside Unit (RSU)), Form (Embedded, Tethered, Integrated), Hardware (Smart antenna, Display, Electronic Control Unit (ECU), Sensors), End Market (Original Equipment Manufacturer (OEM), Aftermarket), Technology (2G, 3G, 4G/LTE), Application (Navigation, Infotainment, Telematics), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026 – Industry Trends and Forecasts 2026
Global connected car market is projecting a rise in estimated value by 2026, registering a healthy CAGR of 16.5% in the forecast period of 2019-2026 due to increased demand for smartphone connectivity, growing government regulations and increasing concerns about safety. The report contains data of the base year 2018 and historic year 2017.
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Market Definition: Global Connected Car Market
Cars which are equipped with wireless systems and connected with the internet facilities are categorized as a connected car. The connectivity of car and internet provides information regarding the status of traffic, collisions and other safety alerts. For the safety purpose, the car is connected with dedicated short-range sensors which eliminate the risk of accidents and increases safety. The market would be driven by decrease in the cost and improvisation in safety.
Market Drivers:
- To reduce the dependency on fossil fuels such as motor spirit would enhance the market
- Change in government regulations and norms might accelerate the growth
- Increase in the safety concerns act as a catalyst to market growth
- Advancement in technology such as connectivity solutions by service providers and car manufacturers is driving the market growth
Market Restraints:
- Limitation in network coverage can restricts the market growth
- Increase in cyber threat can act as a hindrance for the market growth
- Lack of well-built of infrastructure particularly in developing countries may hamper the market growth
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Segmentation: Global Connected Car Market
By Service
- Connected Services
- Safety and Security
- Autonomous Driving
By Network
- Dedicated Short-Range Communications (DSRC)
- Cellular
By Transponder
- On-Board Unit (OBU)
- Roadside Unit (RSU)
By Form
- Embedded
- Tethered
- Integrated
By Hardware
- Smart Antenna
- Display
- Electronic Control Unit (ECU)
- Sensors
By End Market
- Original Equipment Manufacturer (OEM)
- Aftermarket
By Technology
- 2G
- 3G
- 4G/LTE
By Application
- Navigation
- Infotainment
- Telematics
By Geography
- North America
- U.S.
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- Germany
- Italy
- U.K.
- France
- Spain
- Netherlands
- Belgium
- Switzerland
- Turkey
- Russia
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Australia
- Singapore
- Malaysia
- Thailand
- Indonesia
- Philippines
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Egypt
- Israel
- Rest of Middle East and Africa
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Key Developments in the Market
- In April 2019, Lear Corporation, which is leader in global automotive technology, announced to acquire Xevo. This acquisition aims to bring together Xevo's leading e-commerce vehicle platform technology with Lear's expertise in electronic systems. Lear Corporation focuses to broaden its connectivity portfolio. The acquisition would result in enhancement in Lear Corporation’s software, services and strengthen its position in connectivity market
- In March 2017, Mobileye had been acquired by the Intel. The aim of the acquisition is to develop technology which would plot the path and help in making real time driving decisions. With the acquisition, Intel would improve the autonomous driving with improved cloud-to-car solutions. The acquisition would help Intel in improving of virtual driving, development tool chains and hardware
Competitive Analysis
Global connected car market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of connected car market for Global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players
Few of the major competitors currently working global connected car market are Daimler AG, General Motors Company, Tesla, Google, Audi AG, Volvo Car Corporation, Delphi Technologies, Vodafone Group, AT&T Intellectual Property, DENSO CORPORATION, Robert Bosch GmbH, Airbiquity, Inc., WirelessCar, Ford Motor Company, Microsoft, Tata Consultancy Services Limited, TOYOTA MOTOR CORPORATION, Verizon, Intel Corporation and others.
Research Methodology: Global Connected Car Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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