Global Connected Car Market is valued approximately USD 69.3 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 14.8% over the forecast period 2019-2026. Connected cars are equipped with internet access facility and mainly work on wireless local area network. This internet connection helps the cars to connect with other devices both inside and outside the vehicle. These connections help to connect to smart phone which help use the advancing technologies in the car. Further, rise in the Demand for Safer, More Efficient, and Convenient Driving among the customers and government Mandates for Connected Car Applications has led the adoption of Connected Car across the forecast period. Also, evolution of the New Value Chain Ecosystem of the Automotive Industry is expected to fuel the demand for Connected Cars. However, the connected cars market faces a major restrains owing to the lack of supporting Infrastructure for connected cars in the developing countries and unavailability of standard Platforms. Further, the increasing hacking of internet connected devices and high costs of these cars pose a major challenge to the connected cars market.
The regional analysis of global Connected Car market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to increasing connected car devices in passenger cars and increase in digital services such as cybersecurity and updates. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing government mandates and growing communication and information technology infrastructure, such as 4G LTE or 5G would create lucrative growth prospects for the Connected Car market across Asia-Pacific region.
Major market player included in this report are:
Bosch (Germany)
Continental (Germany)
Harman (US)
Denso (Japan)
ZF (Germany)
NXP (Netherlands)
Infineon (Germany)
Valeo (France)
Delphi (UK)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service:
Connected services
Safety and security
Autonomous driving
By Network:
Dedicated Short-Range Communications (DSRC)
Cellular
By Transponder:
On-Board Unit (OBU)
Roadside Unit (RSU)
By Form:
Embedded
Tethered
Integrated
By Hardware:
Smart antenna
Display
Electronic Control Unit (ECU)
Sensors
By End Market:
Original Equipment Manufacturer (OEM)
Aftermarket
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017
Base year - 2018
Forecast period - 2019 to 2026
Target Audience of the Global Connected Car Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investor
