According to the recent study “Connected Cars Market: By Connectivity Type (4G LTE, 3G, Wifi, Others), By Type of Interaction (Vehicle-to-Vehicle, Vehicle-to-Infrastructure, Others), By Features (Navigation, System Diagnosis, Safety & Security, Others)-Forecast (2016-2021)”, published by IndustryARC, estimates would again be a driving force for this market.
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Connected car technology are those that have access to the internet and a variety of sensors, and that is thus able to send and receive signals, sense the physical environment around them, and interact with over vehicles or entitles.
Automatic connected car Drivers around the world are getting used to the collective amount of digital vehicle technology in their cars. There are many of the digitized features of the car monitors of performance of connected care data like speed, gas tank levels; fuel efficiency, heating and air conditioning as well as the audio system. The smart connected car market says tomorrow the cars will represent a step change in form and function, compared with what’s being offered now.
Scope & Regional Forecast of the Connected Cars Market
All have been digitized for providing the driver with better information and easier operation. The car including smartphones and other devices carried on-board by drivers and passengers now reaches out to the surrounding world for music streamed from the cloud, real-time traffic information, and personalized roadside assistance. The recent car innovations in the automobiles allow in monitoring and adjusting their position on the highway. The alerting drivers if they are drifting out of their lane and slowing down and get too close to the car in front of them. All in all, the car of today and for coming decades will be technological marvel.
Although many commentators have described this future in the field of automated vehicles, which is just a part of the change to come. The automobiles of the future are already taking shape in a variety of forms, although it is unlikely to reach full achievement on public streets and highways for 10 to 20 years. Nevertheless, there will be enough of innovations before then to transform the automobile. There will be new levels of connectivity among the new designed vehicles, enabling new services inside and outside the car. There will be novel kinds of cars, many committed to specific uses, such as ride-hailing and ride-sharing fleets. These changes to motor vehicles will, of course, also transform the auto industry.
Connected Cars Market for automakers, suppliers, and technology companies are beginning to jockey for position. The services will generate sales in the most of this value will be offset by falling sales from legacy features such as navigation, entertainment, and safety systems. The market manufacturers and suppliers are growing in the competitive market due to heavy demand in the autonomous and sensor industry. There is no such specific region where the market is leading, almost all the regions like America, Europe, Asia-Pacific and Rest of the World are having the shares in advancement and leading providers in connected car services.
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Segmentations & Key Players Involved in the Connected Cars Market
The Connected Cars Market can be broken down into various segmentations on the basis of –
Application: V2V and V2I communication for Safety, Data Capture and Management, Dynamic Mobility Applications, Road Weather Management, Application Environment: Real Time Information Synthesis, Vehicle Health Monitoring and Others
Connectivity Type: 2G (GSM, GPRS, EDGE), 3G (UMTS, HSPA, HSPA+), 4G/LTE and Others
Type of Interaction: Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure(V2I), Vehicle-to-Device(V2D) and Others
Features: Navigation, Automotive System Diagnosis and Prognosis, Hands Free Control and Voice Commands, Contextual Help, Infotainment System, Parking Assistance, Safety And Security, Fleet Management, Vehicle Tracking, Road Side Assistance, Wi-Fi hotspots and Others
Geography: America, Europe, Asia-Pacific and Rest of the World
Some of the key players involved in the Connected Cars Market are as follows:
Hyundai Motor Company
Honda Motor Co. Ltd.
Toyota Motor Corporation
Ford Motor Company
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* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 – 2021, to assess how the market will develop.
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