Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Oct 22, 2019 3:35 PM ET

Connected Car Market Growth, Latest Trends & Forecast by 2025


iCrowd Newswire - Oct 22, 2019

Connected Car Market by Service (Connected Services, Safety & Security, and Autonomous Driving), Form (Embedded, Tethered, and Integrated), Network (DSRC, and Cellular), End Market, Transponder, Hardware, and Region – Global Forecast to 2025“, The global connected car market, by value, is estimated to be USD 72.89 Billion in 2017 and is projected to reach USD 219.21 Billion by 2025, at a compound annual growth rate (CAGR) of 14.8% from 2017 to 2025.

The automotive industry is witnessing a high degree of innovations and disruptive technologies. Various technologies such as head-up displays, smart infotainment, telematics systems, and autonomous driving are becoming an integral part of high-end automobiles. With improved connectivity, a vehicle can interact with other entities, such as infrastructure as well as other vehicles, to share useful information, including driving habits, traffic congestion, shortest route, roadblocks, and fuel economy. Most of these technologies use real-time data and require regular updates, and are thus able to communicate operational and diagnostic data from onboard systems and connected devices.

Some of the major drivers identified an increase in industry compliance norms and government mandates supporting connected technology in passenger cars.

 

Demand-Side Analysis:

Some of the major players in the global connected car market are Bosch (Germany), Continental (Germany), Harman (US), Denso (Japan), ZF (Germany), NXP (Netherlands), Infineon (Germany), Valeo (France), and Delphi (UK). 

 

Download PDF Brochurehttps://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102580117

 

The global connected car market is segmented by network, service, transponder, form, end market, hardware, and region. The report discusses various types of features, such as navigation, remote diagnostics, multimedia streaming, on-road assistance, eCall, and auto parking. The connected services segment is expected to account for the largest market share in the global connected car market, which would grow at a significant CAGR during the forecast period. The growth of connected car services is expected to be driven by an increase in demand for convenient features and an increase in government mandates. Furthermore, to understand the type of end market, the report discusses the global market under 2 distinctive end market types, namely, Original Equipment Manufacturer (OEM) and aftermarket. To understand the market in different forms, the global connected car market is segmented into embedded, tethered, and integrated; by hardware into smart antenna, display, Electronic Control Unit (ECU), and sensors; by transponder into roadside unit and on-board unit; and by network into Dedicated Short-Range Communication (DSRC) and cellular. The extensive study has been done on 4 key regions, namely, Asia Pacific, Europe, North America, and the Rest of the World (RoW).

 

The embedded connected car solution is expected to hold a major share of the connected car market. The growth of an embedded form of connected solution in the long term can be attributed to various disruptive factors such as government mandates, change in the pricing model, and an increase in cloud-based services. The governments of several countries have introduced mandates related to telematics applications of connected cars. These include mandates such as eCall and stolen vehicle tracking. Developed countries such as the US and Western Europe have already mandated safety applications of connected car, which in turn will drive the market for embedded forms of connected solutions. Moreover, upcoming emission standards in India are likely to impose the installation of onboard diagnostics port in vehicles.

 

Request for Sample Pageshttps://www.marketsandmarkets.com/requestsampleNew.asp?id=102580117

Connected cars market

The Asia Pacific connected car market is estimated to be the largest, in terms of value, 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 & Connected Vehicles (ICV). In Japan, the automotive connected services were developed as early as 1997 when Toyota (Japan) sold its first connected services solution in the country. Additionally, the demand for connected cars in the Asia Pacific is significantly driven by strong economic growth, a growing population, and rapid urbanization. Moreover, upcoming emission standards (Bharat Stage VI) in India is likely to impose the installation of onboard diagnostics port in vehicles. This will encourage the growth of connected cars in India.

Target Audience:

To speak to our analyst for a discussion on the above findings, click Speak to Analyst



Contact Information:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]






Keywords:    Connected Car Market

Tags:    Extended Distribution, Wire, Research Newswire, English