The new vehicle safety regulations by governmental bodies as well as laws are encouraging vehicle manufacturers to make vehicle data more secure from malfunctioning, and wireless remote hacking which is increasing the demand for connected vehicles. Connected vehicles technology offers additional safety for drivers and passengers while driving. This technology is gaining popularity among drivers all over the world.

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Drivers and Restraints:

Global Connected Vehicles Technology Market is estimated to grow in forecasted period owing to supporting factors such as increase in demand for efficient, convenient and safer driving experience among drivers and vehicle owners, regulatory policies of governments that mandated the connected car applications in developed and developing regions. Also, safety concerns about the safe travel in transportation industry and need for connectivity, remote diagnostics mechanisms, fuel management system and GPS (Global Positioning System) in vehicles are estimated to be driving factors of the market. However, the absence of efficient network infrastructure in evolving nations may face an obstacle for the growth of Global Connected Vehicles Technology Market.

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Geographic Segmentation

Based on geography the Global Connected Vehicles Technology Market primarily segmented into Europe, North America, Latin America, Middle East & Africa and North America. Europe region is leading the Global Connected Vehicles Technology Market due to increasing safety norms, increased cyber security for smart vehicles, government regulations towards integrating such safety features in automobile transporting, and technological developments. Also, Asia Pacific region is estimated to be growing at increased pace with highest CAGR in forecasted years owing to rising disposable incomes, increased demand for the relevant technology.

Key Players in Global Connected Vehicles Technology Market:

The major industries competing in global market include Volvo, BMW, Tesla, Mercedes Benz, Audi, General Motors, Nissan, and Chevrolet.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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