What is Connected Car M2M Market?
M2M technology is providing cellular connectivity and new mobile lifestyles for both drivers and passengers offering high-speed, low-latency connectivity, and a suite of advanced features including mobile Wi-Fi hotspots, Internet radio, Web services, and an improved navigation system. M2M connectivity will drive this growth, inspired by the vision of autonomous cars, including vehicle-to-vehicle data communication and other connected car services. However, as more cars and vehicles connect, user and vehicle data must be secured.
Highlights from Connected Car M2M Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Audi (Germany), BMW (Germany), Delphi (Ireland), Ford (United States), Singtel (Singapore) and Toyota (Japan) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Germany Players will contribute to the maximum growth of Global Connected Car M2M market throughout the forecasted period.
Audi (Germany), BMW (Germany), Delphi (Ireland), Ford (United States), Singtel (Singapore) and Toyota (Japan) are some of the key players profiled in the study. Connected Car M2M Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Safety and security, Infotainment, Driver assistance, Vehicle management and On-drive management |
Technology | Embedded solutions,Integrated solutions,Tethered solutions |
On the basis of geography, the market of Connected Car M2M 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancements are Expected to Propel Growth in the Global Connected Car M2M
Market Growth Drivers:
Demand for In-Vehicle Connectivity and Telematics has Led to Technological Advances and Growing Demand for Electronic Vehicles Across the World
Challenges:
The limited available bandwidth in cellular networks can pose a challenge in handling the volume of data generated by a large fleet of connected vehicles. This challenge can affect the speed and efficiency of data transmission and can impact the overall performance of the system
Restraints:
Implementing connected car M2M systems involves significant costs, including the integration of hardware components, software development, connectivity fees, and infrastructure maintenance. These costs can be a barrier, particularly for smaller car manufacturers or fleet operators with limited financial resources. The cost of upgrading existing vehicles with connected car capabilities can also be a restraint for widespread adoption
Opportunities:
Increasing Number of Passengers Spending More Time in the Car and Increasing Popularity of Internet of Things (Iot) has a Significant Impact on the Automotive Industry
Key Target Audience
Car Manufacturers, Raw material suppliers, Distributors, Researchers, Government and Others
Market Leaders & Development Strategies
BMW Group, a German maker of luxury cars and motorbikes, acquired Alpina brands, a long-time tuning partner that created some of the most recognizable and stylishly tuned BMWs in the world. The luxury automaker now owns the rights to Alpina's branding thanks to BMW's acquisition, which also "add even more diversity to its own luxury car range.
Rollout of 5G networks offers increased bandwidth, lower latency, and higher reliability, making it a promising technology for connected car M2M systems. The higher data transfer rates and low latency of 5G enable faster and more efficient communication between vehicles and backend systems. Additionally, edge computing is gaining traction, allowing data processing and analysis to be performed closer to the vehicles, reducing latency and enabling real-time decision-making
Regulatory frameworks, such as the United Nations Economic Commission for Europe (UNECE) WP.29 Cybersecurity and Over-the-Air (OTA) Software Update Regulations, aim to establish cybersecurity requirements for connected vehicles. Car manufacturers and service providers are required to implement robust security measures, conduct risk assessments, and address vulnerabilities to protect against cyberattacks and ensure data security