The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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The Global Connected Car Market accounted for USD 28.3 billion in 2016 growing at a CAGR of 27.5% during the forecast period of 2017 to 2024.
Connected car is a car well equipped with internet connectivity and wireless LAN to optimize its own operation and maintenance as well as the convenience and comfort of passengers using onboard sensors. This technology has led to improved safety as well as enables the car to be connected with online platforms and facilitate the driver with real-time communication.
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The market is majorly driven by increased demand for reduced operational costs and increased efficiency and increased efficiency and easy incorporation of automation in business processes. However, the less potential in knowledge-based business processes may restrain the growth of the market.
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Top Key Players:
Some of the major players of the global connected car market are Audi AG , MW AG, General Motors Company, Tesla Motors, Inc., Google, Inc., Volvo Car Corporatio, Delphi Automotive Plc, Vodafone Group Plc., AT&T, Inc., Denso Corporation, Robert Bosch GmbH, Airbiquity, Inc., Wirelesscar, Ford Motor Company, Microsoft Corporation, TATA Consultancy Services Ltd., Toyota Motors Corp., Verizon Communications, Inc., among others.
On the basis of component
- connectivity ICs
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On the basis of application
further sub-segmented into emergency calling, vehicle diagnosis and maintenance notifications, driver behaviour analysis, predictive maintenance, fleet management, forward hazard warning, curve speed warning, overtake vehicle warning, parking management system, dynamic mobility, traffic control system, and usage-based insurance
Further sub-segmented into GPS navigation, and entertainment
On the basis of geography
- North America
- South America
- Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Company Share Analysis:
The detailed report of global connected car market vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others.
The report also measures technology life line curve and market time line to analyze and do more affective investments.
Major Market Drivers & Restraints:
- Increased demand for smartphone connectivity
- Growing government regulations
- Increasing concerns about safety
- Network coverage limitation
- High prevalence of cyber crime
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