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(I-SoftwareNews.Com, September 06, 2019 ) Market Overview
Connected Car is the most significant trend in the automotive sector in the last 50 years.
The connected car is evolving from being a luxury to being a necessity. Connected car technology is used in monitoring fleet cars remotely and other features.
Combined Car trend encompasses within it multiple sectors all collaborating with Automakers to create a harmonious system.
As Internet penetration increases, the share of connected cars in the car market will increase in the forecast period.
Growth in Connected cars will give rise to Vehicle communications. Cars will share data with each other & traffic infrastructure to improve traffic management and safety.
Government legislation also further drive the growth in the connected car market. As Smartphone and Internet penetration increases and 4G, 5G becomes widespread relevant car market will increase rapidly until all cars are connected cars.
Connected Car market can be segmented by connectivity, and by function.
Function, the connected car market is segmented into Mobility Management, Vehicle Management, Entertainment, Safety, Driver Assistance, and Well-being.
In-vehicle entertainment is major in Asia Pacific region. However, the overall connected cars market is impacted by price pressures brought by competition with aftermarket suppliers.
Key market segments covered
By Connectivity Type
Smartphone / Mirroring
Rest of the World
By region, the market is segmented into North America, South America, Europe, Asia-pacific and rest of the world.
The US has the highest share in the connected car market with high adoption for technology.
China is expected to show the highest growth rate in the relevant car market. By 2022, Europe will surpass the US in the number of connected cars.
Connected car Market contains many companies working in different industries such as app providers, cloud service providers, MEMS, microprocessors, infotainment systems providers, Cybersecurity solution providers, network providers, etc.
Some of the companies working in the connected car market are Harman, Continental, NXP, AT&T, Microsoft, Delphi Automotive Plc, Alcatel Lucent, Google and others.
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