Favorable Government Regulations to Encourage Connected Car Market

San Francisco, California, Apr 26, 2017: A new research report by TMR Research offers a detailed overview of the global connected car market. The research study, titled “Connected Car Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” throws light on the growth factors and opportunities in the global market. The rapid development of the telematics devices is projected to encourage the growth of the overall market in the near future.

The rising popularity of connected car along with the rising use of smartphones are some of the key factors that are estimated to accelerate the growth of the market throughout the forecast period. In addition, the growing demand for autonomous cars is another major factor expected to boost the demand for connected cars in the near future. The disparity of product design procedures between in-built solutions of cars, OEMs, and smartphones is one of the key factors likely to restrict the growth of the global connected cars market in the next few years.

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Among the key regional segments, North America is estimated to lead the global market and hold a major share throughout the forecast period. The favorable rules and regulations for monitoring telematics applications is one of the major factors projected to accelerate the growth of the connected cars market in North America.

The leading players in the market, namely Google Inc., Tesla Motors Inc., BMW AG, Volvo Car Corporation, Audi AG, Robert Bosch GmbH, Vodafone Group Plc., Wirelesscar, General Motors Company, and Delphi Automotive Plc. are focusing on technological developments and innovations.

Connected Car Market Higher Mortality Rates by 2025

Global Connected Car Market: Overview

Today, connected car is the big buzz word in the automotive and car industry. A connected car is equipped with Internet connectivity to share information between devices within the vehicle or to share information with devices outside the car such as in other cars, office, home, or other physical spaces.

Connected cars receive information pertaining to traffic, collisions, and other safety alerts in a timely manner. Connected car features can be categorized into safety, infotainment, payments, navigation, and diagnostics/efficiency.

Typically, connected cars that have been introduced after 2010 has a head-unit, in-dash system equipped with a screen for the driver to view or manage operations of the connections, and an infotainment unit.

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Global Connected Car Market: Key Trends

The top factor driving the global connected car market include regulatory mandates on connected car modules. Moreover, rising demand for smartphone features in cars and real-time connectivity with cars to obtain vehicle data updates for vehicular safety is driving the connected car market.

However, factors such as network coverage limitation and risk of misuse of customer data by cybercriminals for unscrupulous activities is challenging the market’s growth.

The connected car market is expected to be benefitted as connected car is considered to be a stepping stone for autonomous vehicles, consumer electronics providers for connected cars can offer telematics and infotainment devices at a cheaper cost, and insurance rate for connected cars is dependent on usage.

The connected car market faces challenges with respect to disparity of product design procedures between OEMs, in-built solutions of cars, and smartphones. Also, the connected car market will benefit with reduced cost of telematics and infotainment equipment and services. In this scenario, creating an ecosystem that functions through cross-industry collaborations between OEMs, technology companies, and mobile network operators is poised to be the winning imperative for the industry.

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Global Connected Car Market: Market Potential

At the recent Seoul Motor Show 2017, Hyundai Motors announced a multitude of future-vehicle initiatives, which includes connected cars and electric vehicles. Developed by a team of in-house experts Hyundai’s new Connected Car Service platform will diminish the lines between mobility, living, and working spaces by means of voice control and allow vehicle owners to connect their vehicles with global appliance service providers.

Global Connected Car Market: Regional Outlook

North America is the leading regional market for connected cars. The U.S. is the leading contributor to the North America connected car market due to regulations in place for monitoring telematics applications.

Furthermore, in the U.S., the transportation system is reaching its capacity thus alternatives need to be sought to address the increasing traffic congestion issues. The transportation network in the U.S. is nearing saturation and infrastructure expansion by means of traditional methods is not a viable solution. Connected cars equipped with telematics and navigation tools is an ideal solution to address this issue. Moreover, the U.S. being home to some of the world’s major automobile companies such as General Motors Company, Ford Motor Company, and Tesla Motors Inc., along with the presence of software giants such as Microsoft Corporation and IBM Corporation and telecom providers such as AT&T Inc., Verizon Communications Inc., and Sierra Wireless are favoring the growth of the connected car market in the region.

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Global Connected Car Market: Competitive Landscape

Some of the key players in the global connected car market include Audi AG, General Motors Company, Google Inc.,Delphi Automotive Plc, AT&T Inc.,Robert Bosch GmbH, Wirelesscar, BMW AG,Tesla Motors Inc.,Volvo Car Corporation, Vodafone Group Plc., Denso Corporation,and Airbiquity Inc.

Higher Investment by OEMs Bolsters Connected Car Production Worldwide

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.