According to the new market research report Connected Car Devices Market by Communication Type (V2V, V2I, V2P), Connectivity Type (DSRC, Cellular Network), Product Type (Das, Telematics), Vehicle Type (PC, LCV & HCV), Electric Vehicle Type (BEV, HEV, PHEV, FCV) and Region - Global Forecast to 2021. North America and Europe were estimated to be the prominent markets for advanced systems such as adaptive cruise control and lane departure warning system in 2016, owing to the new safety mandates introduced in recent years.
The global connected car devices market is projected to grow at a CAGR of 16.3% during the forecast period, to reach USD 57.15 billion by 2021
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The demand for luxury and premium segment cars in the region has increased significantly since the past few years. For instance, the sale of luxury cars by key manufacturers (Audi, BMW, Mercedes, and Volvo) in China increased in 2015, as compared to the previous year. All these luxury vehicles are equipped with the majority of connected devices such as telematics, adaptive cruise control, and lane departure warning systems. The increased demand for luxury and premium segment cars is thus anticipated to boost the market for connected car devices in the Asia-Pacific region in the near future.
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DSRC: growing connectivity technology in passenger cars
Connected car devices with Dedicated Short Range Communication (DSRC) use short-range communication technologies such as Radar and Lidar, which are designed for a communication range up to 1000 feet. DSRC allows rapid communications between connected car networks and is used for various applications in modern automobiles. Its applications include driver assistance technologies such as lane departure warning and advanced cruise control systems. The market for these technologies is on the rise and the trend is expected to continue for the coming years. DSRC technology is a high growth potential market in the overall connected car devices market.
Browse and in-depth TOC on Connected Car Devices Market
119 - Tables
75 - Figures
169 – Pages
• Connected car devices manufacturers
• Automotive electronic system manufacturers
• Vehicle manufacturers
• Investment firms
• Equity research firms
• Private equity firms
• Opportunity for non-automotive players to enter the automotive industry
• Opportunity for development of new business models
• To integrate the cost of connectivity into the cost of vehicles
• Threat to safety and security of passengers
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The vehicle production has been considered to arrive at the market size, in terms of volume. This country-wise market volume is then multiplied with the country-wise average OE price of each technology. This then gives the country-wise market size for that particular technology, in terms of value. The same approach has been used to calculate the market size of remaining technologies. The summation of the country-wise market size, in terms of value, gives the regional market size and further summation of regional level market size provides the global connected car devices market size.
The global connected car devices market is dominated by key manufacturers such as Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive, PLC (U.K.), Robert Bosch GmbH (Germany), and Autoliv Inc. (Sweden) among others. These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.