Automotive Wireless Technology Market: Introduction
- Application of wireless technology in automobiles has witnessed considerable transformation in the last years, ranging from radio transmitter to novel applications, which enhance the driving experience and safety of vehicle occupants
- Automotive wireless technologies provide numerous key benefits including:
- Reduction of weight in weight-sensitive environments
- Increased flexibility and re-configurability
- Elimination of errors from faulty wiring
- Increased reliability through monitoring for reduced wear & tear
These benefits offered by in-vehicle as well as inter-vehicle wireless communication technologies enable novel services and applications that were earlier deemed as impractical.
Key Drivers of Automotive Wireless Technology Market
- Demand for next-generation vehicles is increasing due to a rise in purchasing power of consumers. Therefore, changing demands of consumers are prompting OEMs to equip their vehicles with advanced systems such as camera, radar, and a network of other sensors that render different levels of autonomy. These devices use wireless technologies to communicate with the server and driver. For instance, in February 2017, Volkswagen AG partnered with Sierra Wireless to integrate AirPrime AR Series modules and the Legato software platform in its next-generation of connected cars. This is estimated to provide in-vehicle internet-based services, including remote vehicle access, roadside assistance, diagnostics and maintenance services, to customers of Volkswagen AG. Thus, a rise in the demand for new generation connected vehicles is driving the automotive wireless technology market across the globe.
- Rise in number of road traffic accidents has resulted in high awareness about driver and passenger safety. National Highway Traffic Safety Administration stated that there were 6.5 million reported crashes in 2017 across the U.S. The agency estimates that around 615,000 crashes can be prevented by using vehicle-to-vehicle (V2V) wireless communication technology. Moreover, concerns related to driver safety have fueled the demand for in-cabin monitoring systems such as vital signs monitoring, life presence detection, and passenger classification. These systems use wireless technology to monitor the driver and passengers and alert about possible hazard. The European Union has mandated installation of in-cabin driver monitoring solutions in all cars sold across Europe from 2022. Thus, the viability of automotive telematics to enhance driver and passenger safety is driving the global automotive wireless technology market.
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Challenges in Automotive Wireless Technology Market
- Automotive wireless technologies are highly vulnerable to cyber-attacks and pose a threat to data privacy of users, thus hampering the global automotive wireless technology market
Impact of COVID-19 pandemic on Automotive Wireless Technology Market
- Production and sales of vehicles declined amidst the COVID-19 pandemic and consequently, the demand for automotive wireless technologies also declined. However, wireless technologies can reduce surface contact, especially in shared vehicles, thereby minimizing the risk of spreading or contacting pathogens. These technologies powered by smart algorithms can further be utilized to detect early symptoms of COVID-19 and alert drivers and co-passengers, which in turn is anticipated to propel the global automotive wireless technology market during the forecast period.
North America hold Significant Share of Global Automotive Wireless Technology Market
- North America contributed to a significant share of the global automotive wireless technology market, as regional OEMs are incorporating these remote technologies in their vehicles. For instance, in January 2019, the Ford Motor Company stated in a press release that it plans to roll out a wireless technology for new vehicle models from 2022 across the U.S., which is estimated to enable communication between connected devices. Moreover, expansion of the shared mobility industry in the region is further boosting the demand for automotive wireless technologies to provide riders personalized experience and ease in booking rides and making payments. This rise in demand from automotive OEMs and automobile rental companies is driving the share held by North America in the global automotive wireless technology market.
- On-going smart city projects in San Jose, Seattle, and several other cities across North America are aimed at creating connected infrastructure. These programs are anticipated to further boost the application of automotive wireless technology to enable communication between vehicles and the environment (V2X communication) including buildings, traffic lights and others. In October 2018, a press release by the U. S. National Highway Traffic Safety Administration stated that there are more than 70 active deployments of V2X communications in the country, and the agency is working with automotive industry players to further extend the deployment of this technology. Transportation agencies of the region have introduced well-defined regulatory guidelines for wireless connectivity systems, which further prompts customers to adopt these systems.
Key Players Operating in Automotive Wireless Technology Market
The automotive wireless technology market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the automotive wireless technology market are:
- Cohda Wireless
- Continental AG
- HARMAN International
- Infineon Technologies AG
- Murata Manufacturing Co., Ltd
- NXP Semiconductors
- Renesas Electronics Corporation
- Robert Bosch GmbH
- Sierra Wireless
- TE Connectivity
- Thales Group
- WiTricity Corporation
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Global Automotive Wireless Technology Market: Research Scope
Global Automotive Wireless Technology Market, by Application
- Access Control
- Fleet Management
- Cabin Control
- In-cabin Monitoring
Global Remote Vehicle Shutdown System Market, by Connectivity
- Radio Signals
Global Remote Vehicle Shutdown System Market, by Vehicle Type
- Passenger Vehicle
- Luxury/ Premium Vehicles
- Mid-segment Vehicles
- Entry-class Vehicles
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Remote Vehicle Shutdown System Market, by Electric Vehicle
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
Global Remote Vehicle Shutdown System Market, by Sales Channel
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- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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