San Francisco, California, May 04, 2017: A new market research report by TMR Research presents a comprehensive overview of the connected car market. The report is titled, “Connected Car Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025.” The report provides in-depth insights into the key market dynamics, prominent trends, key advancements in automotive technologies, share and size of major segments, and competitive landscape. The research offers an assessment of evolving regulatory and policy constraints that focus on safety of semi-autonomous vehicles and evaluates the scope of major disruptive technologies.
The study highlights recent innovations brought about by automakers and original equipment manufacturers (OEMs) and evaluates their impact on the automobile industry. The research analyzes emerging opportunities and risks underpinning these transformations. Recent developments in the autonomous vehicles their impact on the stakeholder ecosystem are covered in the analysis.
The Connected Car Market is driven by a multitude of trends that span across the entire economy due to a large ecosystem consisting of auto manufacturers, service providers, suppliers, technology and software companies, fleet operators, and service providers. The growing demand for a variety of digital technologies—including wireless technologies—to optimize vehicle’s performance and fuel efficiency is a key factor propelling the market. The surge in demand for onboard sensors and the soaring popularity of IoT devices in order to enhance the driving experience and transform the passengers’ comfort and safety are crucial factors driving the global connected car market.
The advent of a plethora of connected technologies and considerable rise in the use of smartphones and third-party apps have spurred the demand for connected cars worldwide. The launch of advanced security features that enable real-time tracking of vehicles is expected to boost the market. The growing popularity of cloud-based services and vehicular telematics and the surging demand for infotainment features are expected to augment the in-car experience, thereby catapulting the demand for connected cars.
Various data privacy and security concerns related to connected car technologies are likely to hinder the market to an extent. In addition, many new car buyers looking for connectivity are only partly willing to pay for advancements, which poses significant challenge for car makers. Be that as it may, a growing number of automakers are actively collaborating with mobile network operators for upgrading the existing technologies, which is poised to unlock exciting opportunities for various stakeholders. Recent advancements in mobile network and Internet connectivity is expected to fuel the market growth. Furthermore, the advent of more clear regulations and legislations pertaining to the safety of autonomous vehicles is an encouraging development in the market.