The wireless service provider companies such as AT&T, Jasper, KT Corporation, Qualcomm, Sierra Wireless and others are also taking connected vehicles seriously. Companies from the software and telecommunications sectors are also entering the automotive market to induce smart, connected services into the machine to machine (M2M) market.

Apple is making continuous innovations in the field of connected car technologies, as, not much time has passed since Apple unveiled CarPlay, which allows drivers access contacts on their iPhones, listen to voicemails without taking their hands off the steering wheel or make calls. Further, Apple Inc. is working on the creation of an Apple-branded electric car which is said to unveil in the next 10 years, and in turn provide a major boost to the global connected car market.

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A typical connected car has a screen on the front dash from which the operations of the connections can be seen or managed by the driver, and in car an entertainment unit along with a head unit. Types of functions inside a car include music/audio playing, navigation, smartphone applications, roadside assistance, parking applications, voice commands, car diagnosis, over speeding warnings, contextual help/offers, engine controls, safety alerts and much more. Connected cars use smartphones and applications that are available to interact with the car from a certain distance. Users can unlock their cars, get notified for tire punctures/air pressure, find the location of the car, check the status of batteries on electric cars, or remotely initiate the climate control system.
Growth in internet and smartphone users, need for social connection, increasing needs for customization, and security which includes passenger protection (through airbags), economic driving, reduced traffic rule violation and others, are some of the major drivers of the global connected car market.

A major opportunity in the connected car market arises from the automotive industries’ heightened embracing mobility, and cloud technologies to create seamless on the go experiences which includes advanced navigation, video streaming from a home playlist, social connect and many more. Over the next few years, drivers will be able to access highway warnings and messages, and navigation systems will be able to pinpoint the most fuel-efficient routes for current traffic patterns. The automobile sector is one the many places where the Internet of Things (IoT) is showing itself to be the root of the next great wave of wireless innovation. As the world becomes increasingly urbanized, the Internet of Things technologies will continue to expand and eventually benefit the connected car market.

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One of the major hindrances in the global connected car market is the reluctance of customers to pay the extra costs associated with embedded connectivity, and instead, use their smartphones for connectivity inside cars. Another major hindrance for the global connected car market is the vulnerability of smart cars to information, data hacks and take over the controls, as hackers can access car computers to take remote control of vehicle functions and lift the owner's data. While the automotive industry is creating standardized protection schemes for new model cars, vehicles already on the road are at risk.
In addition, car and technology companies have to consider and account for the large amount of data these sensors and devices will collect, and how they can use that information to make additional improvements, while protecting the data and the driver.

Some of the top competitors in the global connected car market include Airbiquity Inc., Apple Inc., BMW AG, Chrysler Group, General Motors Co, Ford Motor Co, Honda Motor Co, Toyota Motor Co and VW Group among others.

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