Automotive Connected Services Market: Introduction

  • Rise in demand for luxury features in a vehicle is expected to drive the global automotive connected services market. The trend toward connectivity in automobiles is a key factor driving rapid transformation of the automotive and mobility sectors.
  • Expansion of the automotive connected services market is accompanied by the development of a wide range of new and innovative services making mobility safer, more comfortable, and more efficient

Key Drivers of Automotive Connected Services Market

  • Increase in demand for safe vehicles across the globe is expected to be a key factor boosting the global automotive connected services market. Connected services include global positioning system (GPS), biometric lock/unlock of vehicle, and remote vehicle locking/unlocking offer modern safety features to a vehicle. Increase in demand for such features among passengers is compelling automakers to provide these features in their vehicles. Additionally, aftermarket players are providing retrofit of connected devices in existing vehicles at affordable costs.
  • Connected devices in a vehicle enhance driving experience in a vehicle. Features such as navigation, streaming services, and smartphone integration offer comfortable driving experience to vehicle passengers. According to ‘Connected Vehicle Trend Radar 2’ research study conducted by Capgemini in 2019, the number of connected cars is projected to increase to 352 million by 2023, as compared to 119.4 million connected vehicles in 2018.
  • Increase in trend toward sustainable and green technologies is expected to propel the global automotive connected services market. According to research conducted by Capgemini, 60% of overall respondents believed that connected services can have a positive impact on the environment. As per this research, in China specifically, 77% of people are willing to pay more for connected services, which are targeting sustainability, while in Europe, 42% of car owners are willing to change their car brand if they knew that other brands offered sustainable connected services.
  • Rise in trend towards electric vehicles coupled with stringent emission regulations enacted by government organizations on IC-engine vehicles is offering lucrative opportunity for the players engaged in the global automotive connected services market. Various automakers have equipped their vehicles with connected devices in order to attract more number of customers. All the factors mentioned above are expected to drive the global automotive connected services market.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

Impact of COVID-19 Pandemic on Global Automotive Connected Services Market

  • Disruptions in supply chain catering to the automobile industry, owing to the shutdown of production and manufacturing facilities caused by the coronavirus pandemic across the world, is estimated to contract the market in 2020-2021. Consequently, the coronavirus pandemic has hampered the global automotive connected services market.
  • The market is anticipated to recover by increasing production volume of vehicle components as well as vehicles in 2021. This, in turn, is projected to offer lucrative opportunity to players operating in the supply chain of the automotive connected services market during the forecast period.

North America and Europe combined to Account for Prominent Share of Global Automotive Connected Services Market

  • In terms of region, the global automotive connected services market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
  • North America and Europe have presence of economically stable countries. These regions are home to technologically advanced research institutes catering to the development of vehicle safety and comfort technologies. Additionally, major automakers and aftermarket players have established their technological centers and manufacturing facilities in various countries in these regions including the U.S., Germany, the U.K., and France.
  • The automotive connected services market in North America is expected to expand significantly owing to an increase in adoption of connected services in passenger and commercial vehicles due to stringent governmental regulations regarding road safety in the region
  • Increase in awareness about green technologies in North America and Europe is expected to further drive the automotive connected services market in these regions

Key Players Operating in Automotive Connected Services Market

The global automotive connected services market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive connected services market are:

    • Continental AG
    • Robert Bosch GmbH
    • HARMAN (Samsung Electronics)
    • LUXOFT
    • ZUBIE
    • AUDI AG
    • BMW AG
    • TESLA Inc.

For Right Perspective & Competitive Insights on Automotive Connected Services Market, Request for a Sample

Global Automotive Connected Services Market: Research Scope

Global Automotive Connected Services Market, by Vehicle Type

  • Passenger Vehicles
    • Compact
    • Luxury
    • Mid-Size
    • SUV
  • Commercial Vehicle
    • Medium Duty Commercial Vehicle
    • Heavy Duty Commercial Vehicle

Global Automotive Connected Services Market, by Propulsion

  • Conventional
    • Gasoline
    • Diesel
  • Electric
    • Battery Electric Vehicle
    • Hybrid Electric Vehicle
    • Plug-in Hybrid Electric Vehicle

Global Automotive Connected Services Market, by Connected Device Hardware

  • Head Unit
  • Central Gateway
  • Intelligent Antenna
  • Electronic Control Unit
  • Telematic Control Unit
  • Keyless Entry Systems
  • Sensors
  • Others

Global Automotive Connected Services Market, by Connected Services

  • Navigation
  • Remote Diagnostics
  • Multimedia Streaming
  • Social Media & Other Apps
  • OTA Updates
  • On-Road Assistance
  • eCall & SOS Assistance
  • Cyber Security
  • Remote Operation
  • Collision Warning
  • Auto Parking/Connected Parking
  • Autopilot
  • Home Integration
  • Vehicle Management
  • Asset Tracking
  • Others

Global Automotive Connected Services Market, by Network Type

  • DSRC
  • Cellular

Global Automotive Connected Services Market, by Sales Channel

  • OEMs
  • Aftermarket

This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.

Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.

Always Evolving with Competition

Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.

We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.

Constantly Innovating Our Research Methodologies and Models

We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.

We Take Pride in No-One-Size-Fits-All Approach

Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.

We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:

  • Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
  • The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
  • They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created

Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:

  • Corporate and business strategies underlying new brand positioning strategies
  • Mapping for strategic planning for business units
  • Various metrics for business portfolio analysis, including BCG matrix
  • Value chain analysis

These will help create and sustain competitive advantage for our prospects and current customers.

Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:

  • What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
  • What are some of the branding opportunities that are emerging at a rapid pace?
  • What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
  • Why some competitive strategies are popular than others among leaders in a certain market?
  • What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
  • What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
  • Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Automotive Connected Services Market