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Future of Global Connected Cars Market Along with Key Drivers, Major Manufactures, Business Insights, Trends and Forecast 2023

Business Apr 21, 2019 at 17:22

Future of Global Connected Cars Market Along with Key Drivers, Major Manufactures, Business Insights, Trends and Forecast 2023

We have produced a new premium report Connected Cars Market. The report covers the analysis of global as well as regional markets of Connected Cars. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Connected Cars Market by application (vehicle management, driver assistance, entertainment, mobility management, safety) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW.

The report covers market changing dynamics including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Connected Cars Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Connected Cars Market are Google Inc., Delphi Automotive, General Motors Company, Audi AG, Ford Motor, AT&T Inc., NXP Semiconductors N.V., Alcatel-Lucent, BMW, and Apple Inc.

North America to Emerge as the Lucrative Market Over the Next 6 Years

North America is expected to dominate the connected cars market followed by the Asia Pacific. In addition, the highest revenue contribution is financed by high technological advancements and creativity’s accessibility towards new technologies in the North American region. Asia-Pacific is anticipated to be a prominent automobile market, due to the rapidly growing population, rising disposal incomes. The adoption of ‘eCall’ in Europe is expected to create flows across other geographies. The leading players identified in the market are Google Inc. Delphi Automotive, General Motors Company and Audi AG. Furthermore, TomTom has launched the online turn-by-turn navigation service for customers making it possible to connect over a network.

On the other hand, Honda, an automobile manufacturer goals to enhance its existing Honda Connect platform using Watson IoT and offer its customers with new features around service booking, convenience, safety, and security. According to Counterpoint Research’s Internet of Things Tracker Service General Motors, BMW, Audi, and Mercedes Benz are leading globally in the connected car market.

Connected Cars Market to Expand at a CAGR of 27.5%

Rising consumer demands, the need for constant connectivity, increased dependency on technology are the factors driving the growth of connected cars market. Additionally, an increasing number of technology well-informed people account for the growth in the connected cars market. Furthermore, advanced infotainment systems and fast connection to a wireless network are the factors responsible to enhance the growth”, says Miss. Chaudhary a research analyst at Infinium Global Research. On the other hand, the car manufacturers and service providers, such as the Machine-to-Machine (M2M) connectivity platform have developed various connectivity solutions. Furthermore, numerous sensors and processors located in the car provide accurate and real-time information to the driver including commercial vehicles and cars with internet technologies, thus giving a brief automobile industry analysis.

Regional Analysis

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography is provided over the period of 2015 – 2023. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia and among others. Moreover, the European region covers countries such as Germany, UK, France, Spain, and Rest of Europe. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2017 – 2023.