Connected Car Market Snapshot

The global connected car market is predicted to expand at an incredible CAGR over the forecast period (2016-2027) owing to the need for constant connectivity, asserts Market Research Future (MRFR). Connected cars facilitate connectivity on wheels providing convenience, performance, comfort, security, and safety along with powerful network technology. Connected cars allow the drivers to get connected to the online platforms and facilitate real-time communication. Connected cars are equipped with advanced technologies and sensors. The cars can communicated with another car which is travelling on the same road and exchange information regarding weather, road blocks, accidents, traffic, etc.

The need for constant connectivity, growing demand of the consumers, increasing number of tech-savvy people, and growing dependency on technology are some of the major factors stimulating the market growth over the forecast period. Several connectivity solutions such as Machine-to-Machine connectivity platforms have been developed by the service providers and car manufacturers. The Machine-to-Machine connectivity provides interconnectivity between two connected cars. This is likely to propel the market growth over the assessment period. Moreover, fast connection to the wireless network and advanced infotainment systems are the two prominent features enhancing the market growth over the years.

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The prominent players in the Connected Car Market are-

General Motors (U.S.), Apple Inc. (U.S.), Audi AG (Germany), Ford Motor Company (U.S.), Honda Motor Co. Ltd. (Japan), NXP Semiconductors (Netherlands), BMW (Germany), Microsoft Corporation (U.S.), Freescale Semiconductor Inc. (U.S.), Texas Instruments Incorporated (U.S.), Sierra Wireless (Canada) among others.

Connected Car Market Segmentation:

The global connected car market has been segmented on the basis of technology, services, components, connectivity, and region.
By mode of technology, the global connected car market has been segmented into WiFi & Bluetooth, 3G, 2G, and, LTE. Among these, the 2G service will gradually fade out and will be replaced by LTE and 3G technology due to rapidly changing telecommunication technology along with advent of reliable and faster communication networks.
By mode of components, the global connected car market has been segmented into processors, sensors, cellular, and wireless modules.
By mode of services, the global connected car market has been segmented into autonomous driving and vehicle management, well-being, OEM services, safety, and entertainment.
By mode of connectivity, the global connected car market has been segmented into tethered, integrated, and embedded. Among these, the integrated connectivity is expected to occupy the maximum share owing to the consumer freedom of choice in customizing their data plans and connectivity devices.
Connected Car Regional Analysis:

Geographically, the connected cars market spans across regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World.

Among all the regions, North America is predicted to dominate the global market for connected cars. Requirement for more safe cars and technological advancements in this region is driving the market growth over the assessment period.

Europe is projected to be the second biggest market of connected cars owing to the high standard of living and high investment in the automotive sector in this region. Meanwhile, Asia Pacific has been predicted to emerge as the fastest growing market due to the rapidly growing population, large presence of the young population, and increasing disposable incomes.

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The report for Global Connected Car Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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