Market Snapshot:
A connected car is a vehicle that has internet access, allows the devices, both inside and outside the car, to interact with each other. This allows the user to reach a destination quickly, safely, and in a cost-efficient manner. It communicates with the traffic signals and the road infrastructure too, a smart car can slow down before reaching a signal. These devices also update private automobile owners and fleet managers about their vehicles’ performance, pertaining to fuel economy index, emissions, on-board diagnostics (OBD), vehicle maintenance, and recalls. Rising occurrences of vehicle theft, and a robust spike in the number of road accidents, particularly due to unsafe driving habits, such as over-speeding, hard cornering are the major factors that are driving the market of connected car devices. Apart from the aforementioned drivers, vehicle connectivity has also gained traction, due to the preference of in-car Wi-Fi hotspots and data services, for providing infotainment facilities.
Highlights from Connected Car Devices Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Vendors profiled in the report are Continental AG (Germany), Delphi Automotive PLC (Ireland), Denso Corporation (Japan), Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), Harman International Industries (United States), Panasonic Corporation (Japan), Valeo S.A. (France), Magna International Inc. (Canada) and Infineon Technologies AG (Germany). Additionally, other players that are part of this comprehensive study are Visteon Corporation (United States) and Autoliv Inc. (Sweden).
Geographic Breakdown and Segment Analysis
The Global Connected Car Devices market presents a comprehensive analysis of the Connected Car Devices market by product type (Das and Telematics), by end-user/application (PC, LCV and HCV), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Connected Car Devices industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Connected Car Devices market
Analyst at AMA have segmented the market study of Global Connected Car Devices market by Type, Application and Region.
Influencing Trend:
Increasing Incidence of Vehicle Theft and Road Accidents
Market Growth Drivers:
Advancements in IoT, Wireless Communication, and Smartphone Technology, Rise in Adoption of Mobile Phones and Use of Internet Connectivity and Government Initiative to Boost the Adoption of V2X Technology
Challenges:
Cybersecurity is the Major Challenge in Connected Car Devices
Restraints:
Lack of Infrastructure for Proper Functioning of Connected Cars
Opportunities:
Increasing Popularity of Automation in the Automotive Sector and Emergence of Various Technologies Such as 5g and Ai
In January 2019, Valeo and Autotalks showcased V2X capabilities integrated with Telematics at CES 2019 event. The V2X technology will increase safety by extending the perception of the car for better anticipation of the potential road dangers. It is also key technologies in the move towards cooperative driving and to globally optimize Smart City traffic flow and services.
Regulatory Insights:
According to NHTSA (National Highway Traffic Safety Administration), about 94% of the accidents occurring on the US roadways can be attributed to human choice or error; errors including drunken driving, speeding, and others. Every year, approximately 1.3 million people die in road traffic accidents; a further 20-50 million are injured. The latest technologies such as new safety devices, connected and autonomous vehicles, and intelligent transportation systems with their associated infrastructure and systems are likely to improve and reduce road accidents.
Key Target Audience
Technology Investors, Raw Material Suppliers, Commercial Research & Development (R&D) Institutions, Manufacturers, Suppliers And Major End Users Of Connected Car Devices, Importers and Exporters, Associations, Organizations, Forums And Alliances Related To Connected Car Devices, Government Bodies Such As Regulatory Authorities And Policy Makers, Market Research And Consulting Firms and End-Use Industries