What is Connected Cars Market Scope?
The connected car is equipped internet connectivity as well as with related software and hardware in order to develop effective communication with in house and the outside environment. The various connectivity that cars are connected includes vehicle to vehicle, vehicle to infrastructure, vehicle to cloud and vehicle to everything among others. The primary benefit of connected cars is to enhance driving experience with safety being at fore. In addition to this, it provides an interface to integrate multiple device facilities and increase the interoperability for easier access to the required data. Such features are expected to propel the demands for connected cars all over the globe.
Influencing Trend:
Surging Adoption of IoT Technology and Increasing Connectivity Solutions and Ease of Vehicle Diagnosis
Market Growth Drivers:
Rise in the Demand for Safer, More Efficient, and Convenient Driving and Government Mandates for Connected Car Applications
Challenges:
Increase in the Threat of Cyber Security for Smart Vehicles and Cost Optimization of the Connected Car Technology in the Vehicle
Restraints:
Lack of Supporting Infrastructure for Connected Cars in Developing Countries and Unavailability of Uninterrupted & Seamless Connectivity
Opportunities:
Evolution of the New Value Chain Ecosystem of the Automotive Industry, The Road to Autonomous Vehicles and Adoption of Intelligent transportation system in Developed Economies
The Connected Cars market study is being classified, by Application and major geographies with country level break-up.
According to AMA, the Global Connected Cars market is expected to see growth rate of 15.1% and may see market size of USD161.22 Billion by 2027. Analysts at AMA predicts that Vendors from United States and German will contribute to the maximum growth of Global Connected Cars market throughout the predicted period.
Google Inc. (United States), Aptiv (Ireland), General Motors (United States), Audi AG (Germany), Ford Motor (United States), AT&T Inc. (United States), NXP Semiconductors N.V. (Netherlands), BMW AG (Germany), Apple Inc. (United States) and Mercedes-Benz (Germany) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are TomTom International BV (Netherlands), HARMAN International (United States), Telefonica (Spain) and Verizon Wireless (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Connected Cars market by Type, Application and Region.
On the basis of geography, the market of Connected Cars has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In January 2019, Aptiv, a leading advanced automotive propulsion solutions provider, announced a collaboration with TomTom, a leader in navigation, traffic and map products. The two companies will collaborate on electronic and software applications designed to further optimize vehicle fuel efficiency and emissions through the use of real-time mapping data
California Consumer Privacy Act (CCPA) is passing a law for protection of data in United States which will be effective by January, 2020. It is expected to be country’s highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance. European Union laws (GDPR) is taking important measures to protect data privacy and is expected to impact ~4% of global annual sales
Key Target Audience
Automobile Manufacturers, Automobile Organizations/Associations, Cloud Service Providers, Software Providers, Compliance Regulatory Authorities, Connected Car Hardware Manufacturers, Government Organisations and Information Technology (IT) Companies and System Integrators
Connected Cars Market Study: Important Years
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Connected Cars Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Connected Cars industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.