Connected Car Device Market - Snapshot
Connected car devices enable internet access to the car and thus, allow transmission of data within and outside the vehicle. A connected car device is employed to improve user experience, safety, and fuel efficiency.
Advancements in IoT, wireless communication, and smartphone technology are driving the consumer demand for internet connectivity, which in turn is boosting the connected car device market. Increased efforts by government agencies to boost the adoption of V2X technology is expected to drive the connected car device market. The U.S. Department of Transport has mandated vehicles to be equipped with V2V, a type of V2X technology, by 2023. V2X technology complements ADAS and hence, the rising demand for ADAS is estimated to drive the connected car device market. The EU has made it mandatory for all vehicles to be equipped with eCall, a connected car technology that assists in emergency rescue during an accident. Implementation of V2X technologies is expected to reduce the number of accidents and thus, drive the demand for vehicle connectivity, which in turn is projected to boost the demand for connected car devices. Consolidation of various industries, such as automotive, telecom, IT, and insurance is driving the connected car device market. The Geneva Alliance, comprising Aisin Seiki, Delphi Connect, Magneti–Marelli, Visteon, Harman International, and Continental AG is actively working on the development of software and technology for vehicle connectivity.
In terms of sales, the connected car device market has been segmented into retrofit and built-in. The built-in segment is expected to expand at a higher growth rate due to significant investments being made by automakers to deploy connectivity. The built-in segment has been further sub-segmented into embedded, tethered, and smartphone. Embedded technology poses a barrier to automakers due to the high cost of data management. Hence, automakers prefer tethered and smartphone solutions, as smartphones have been widely accepted by consumers.
In terms of communication technology, the connected car device market has been classified into LTE and V2X. LTE based communication technology is being widely adopted due to its compatibility with smartphones. Rising penetration of tethered and smartphone integration is expected to drive the LTE segment.
Based on vehicle type, the connected car device market has been segregated into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment is anticipated to expand at a high growth rate during the forecast period due to high consumer spending and demand. The heavy commercial vehicle segment is anticipated to expand during the forecast period, owing to the demand for telematics and optimization of freight transports.
Based on region, the automotive connected car market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe and North America are held leading shares of the global market in 2017. However, Asia Pacific is estimated to surpass Europe and North America in terms of share of the global market by the end of 2026, owing to a rise in the income of consumers, which in turn is estimated to fuel the demand for advanced technologies in the region.
Key players operating in the global connected car device market include Delphi Connect, DENSO Corporation, Robert Bosch GmbH, Preh GmbH, Harman International, Infineon Technologies AG, Hella GmbH & Co. KGaA, Valeo SA, NXP Semiconductors, AISIN SEIKI Co., Ltd., ZF Friedrichshafen AG, u-blox AG, and Continental AG.
Connected Car Device Market - Overview
This report analyzes and forecasts the connected car device market at the global and regional level. The market has been forecasted, based on value (US$ Mn) and volume (million units) from 2018 to 2026. The study involves the effect of all the factors that can contract or expand the market globally as well as regionally. The report also highlights opportunities in the connected car device market at the global and regional level.
The report contains value chain analysis, which provides a comprehensive view of the global connected car device market. The Porter’s Five Forces analysis for the market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the market by segmenting the market in terms of sales, communication technology, vehicle type, and region. These segments have been analyzed, based on present and future trends. Regional segmentation comprises current scenario along with forecast of the connected car device market. The forecast provided is based on the compilation of current trends as well as expected scenario in the future, due to change in technological, geographical, political, and economic factors such as rising preference toward digital connectivity.
The study includes profiles of major companies operating in the connected car device market. The global market is dominated by major connected car device manufacturers such as Harman International, Preh GmbH, Infineon Technologies AG, Hella GmbH & Co. KGaA, Valeo SA, NXP Semiconductors, AISIN SEIKI Co., Ltd., ZF Friedrichshafen AG, u-blox AG, DENSO Corporation, Delphi Connect, and Continental AG. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. The connected car device market is primarily driven by rising digitalization and demand for infotainment, navigation, and safety.
The report provides the estimated market size of connected car device in 2017 and forecast for the next nine years. The global market size has been provided in terms of value (US$ Mn) and volume (million units). Market figures have been estimated, based on sales, communication technology, vehicle type, and regional segments of the connected car device market. Market size and forecast for each major segment have been provided in terms of global and regional/country markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d'Automobile (OICA), Factiva, etc.
Primary research involves e-mail interactions, and telephonic interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The global connected car device market has been segmented as follows:
Global Connected Car Device Market Forecast, by Sales
- Built- in
Global Connected Car Device Market Forecast, by Communication Technology
Global Connected Car Device Market Forecast, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Connected Car Device Market Forecast, by Region/Country/Sub-region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa