Connected cars can be defined on the basis of their access to wide range of sensors and internet connectivity that are able to sense physical environment and can interact with other machines or entities. Rapid advancement in telecommunication and connectivity solutions are driving the growth of connected vehicles market in developed countries.
North America is considerably mature market in terms of adopting new technology and was the first region for the adoption of connected vehicle technology. European parliament implements the regulation mandating E-call systems in vehicles that ensures the passengers safety and estimated that it will save more than 2,500 lives on road.
Robert Bosch GmbH
Tom Tom NV
Bayerische Motoren Werke (BMW) AG
Vehicle Connectivity Services Major Outlook
These factors are anticipated to showcase a tremendous growth of connected cars market in such regions. Various technological enhancements in network technologies such introduction of 3G and 4G/LTE are implemented in cars for connectivity. On the other hand, digitization across the globe and introduction of autonomous vehicles in developed countries are the key factors which are helping the vehicle connectivity services to grow
However, rising concerns regarding the privacy and hacking of systems is one of the factors which are limiting the growth of vehicle connectivity services market. Moreover, existence of some technical glitches related to telecommunication such as dearth of cellular coverage and poor connectivity services are the two major growth restraining factors for vehicle connectivity services market. .
Vehicle Connectivity Services – Competitive Analysis
Key players are making innovative developments in Vehicle Connectivity Services. The same will help in improving the market performance. Heavy investments are made by major players in the R&D sector
Vehicle Connectivity Services – Scope
By 2018, it is estimated that more than 20 million cars will be sold fitted with smart phone integration systems across the globe. Advanced electric vehicles now typically manufactured with embedded systems to alert the drivers about nearby charging stations and allow manufacturers to monitor cars performance. According to our study, shipments of connected electric vehicles will rise to 1.30 million by 2018 and it will cross the 2.45 million by the end of 2020.
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