In-vehicle Connected Services Market Introduction
In-vehicle connected services allow systems and devices in the vehicle to connect with external remote systems and over the Internet. In-vehicle connected services enable auto-manufacturers and service providers to deliver roadside assistance, emergency calling, and remote diagnostics, thereby improving the customer service. In-vehicle connected services allow the vehicle to connect over the array of platforms and also deliver navigations feeds, location-based news, and media and entertainment.
In-vehicle Connected Services Market - Competitive Landscape
Harman International was acquired by Samsung Electronics Co., Ltd. in March 2017. The acquisition accelerated the growth of company into connected vehicle solutions and services. In April 2019, automaker Fiat Chrysler Automobiles announced it had signed a contract with Harman International to deliver ‘Ecosystem,’ a connected service platform for Fiat Chrysler Automobiles vehicles. The platform includes telematics service, rental, sharing solution, maintenance, infotainment, safety, and other in-vehicle connected services.
Founded in 1980, HARMAN International is a subsidiary of Samsung Group. It is a key player in the in-vehicle connected services market. The company provides device management, applications, analytics, cloud platform, and services to the connected car.
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Robert Bosch GmbH
Established in 1886, Robert Bosch GmbH is headquartered in Stuttgart, Germany. The company is a global player manufacturing automotive components and systems. It also provides connected vehicle solutions such as connectivity solution for cloud-based services, predictive diagnostics, driving assistance, and retrofit eCall systems.
In-vehicle Connected Services Market Dynamics
Government Compliance Mandating On-board Recording device to drive the In-vehicle Connected Services Market
Implementation of regulations such as eCall in Europe for emergency assistance is driving the in-vehicle connected services market. Countries such as Brazil and Russia are expected to adopt similar regulations to lower road fatalities and improve road safety. The U.S Department of Transport has mandated all vehicles in the country to be equipped with V2X communications by 2023. Implementation of stringent regulations is set to propel the in-vehicle connected services market.
Increase in Consumer Demand for In-vehicle Connected Services
Rise in demand for luxury and comfort and increase in spending power have boosted the demand for infotainment and entertainment services. Rise in awareness about vehicle safety is propelling the demand for advanced driver assistance system (ADAS) solutions. In-vehicle connected services help fleet operators monitor the fleet and predict maintenance schedule of vehicles, and thereby reduce the cost of operations.
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In-vehicle Connected Services Market Segmentation
Based on service type, the in-vehicle connected services market can be segmented into:
- Safety & Security (ADAS)
- Infotainment & Navigation
Based on vehicle type, the in-vehicle connected services market can be divided into:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.