A connected car is a car which is empowered with internet access with a wireless LAN (local area network). This system allows the car to share internet access with other devices for use inside and outside the car. The connected car system enables the integration of every system and component of the car with each other, which can be monitored on a mobile device. This system makes driving safer, the car secure, and helps the user to identify or rectify the faults in the vehicle.
Increase in demand for smartphones, internet, and advanced technologies along with the increase in demand for vehicles is expected to boost the demand for connected car systems. Advanced infotainment devices with a fast connection of the wireless network is a key factor that is projected to boost the connected car systems market during the forecast period. Moreover, increase in stringency of vehicle norms, industry consent regarding the safety and security of the vehicle, and increasing demand for handy features, such as multimedia streaming, navigation, and remote diagnostics are major factors that are anticipated to drive the connected car systems market. Automakers are following new vehicle safety norms to encourage the safety of the vehicle and to make the vehicle more secure from hacking and malfunctioning. This, in turn, is also likely to propel the demand for connected cars systems. Data breaching, hacking, along with the absence of strong infrastructure in developing countries are key factors restraining the connected car systems market, as these can affect the security and safety of the vehicle.
The connected car systems market can be segmented based on technology, vehicle type, device, communication, connectivity, sales channel, and region. In terms of technology, the connected car systems market can be bifurcated into Driver Assistance Systems (DAS) and telematics. Based on the device, the connected car systems market can be classified into factory telematics and infotainment systems, safe driver, GPS tracker, and fleet management device. In terms of communication, the connected car systems market can be bifurcated into Vehicle to Vehicle (V2V), Vehicle to Infrastructure (V2I), and Vehicle to pedestrian (V2P), and Vehicle to Network (V2N). Based on connectivity, the connected car systems market can be segregated into Dedicated Short Range Communication (DSRC) and cellular connectivity. Based on vehicle type, the connected car systems market can be split into passenger vehicles, commercial vehicles, electric vehicles, and hybrid vehicles. Furthermore, the passenger vehicles segment can be sub-segmented into the sedan, hatchback, and SUV/MUV. Increase in demand for passenger vehicles is anticipated to boost the connected car systems market during the forecast period. In terms of the sales channel, the connected car systems market can be divided into OEMs and aftermarket. The aftermarket segment can be further sub-segmented into OES and independent.
Based on region, the connected car systems market can be segmented into Europe, Asia Pacific, Middle East & Africa, Latin America, and North America. Demand for connected car systems is projected to increase in Europe and the Asia Pacific, as the demand for automobiles is increasing in these regions and the per capita income of the population is also increasing.
Key players operating in the connected car systems market include Delphi Technologies PLC, Continental AG, Harman International Industries Inc., Robert Bosch GmbH, ZF Friedrichshafen AG, DENSO Corporation, Autoliv Inc., and Valeo SA.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.