Connected cars facilitate connectivity on wheels providing convenience, performance, comfort, security, and safety along with powerful network technology. Connected cars allow the drivers to get connected to the online platforms and facilitate real-time communication.
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The connected car market has been driven mainly by the growing demand to make navigation and on-road management of traffic safer through the use of IoT (Internet of Things) technology and other related accessories. Connected cars contain sensors that help the driver gain a comprehensive picture of the environment around him on the road, including elements that the driver can’t see.
These sensors help deliver a real sense of the on-road proximity to other objects, including other cars and other road users, such as pedestrians and bicyclists. Connected car systems are expected to make road driving much safer, as drivers can get a digital feedback on their nearest objects instead of relying on visual cues, which can be warped by distance and weather factors.
Segmentation:
The report on the global connected car market segments the market on the basis of technology, component, service, connectivity, and region in order to provide readers with a comprehensive understanding of the market’s granular structure.
By technology, the global connected car market is segmented into 2G, 3G, WiFi, LTE, and Bluetooth.
By component, the global connected car market is segmented into sensors, processors, cellular, and wireless modules.
By services, the connected car market is segmented into entertainment, safety, well-being, OEM services, autonomous driving and vehicle management, and others.
Regional Analysis:
North America is likely to hold on to the top spot in the global connected car market over the forecast period due to the growing research into autonomous cars and the presence of several leading car manufacturers working on connected car systems. The fertile research environment for in-car technology in North America is likely to ensure steady growth of the regional market over the forecast period.
Europe is also a leading player in the global connected car market due to the widespread adoption of smart city protocols in leading European cities and the strong presence of leading automotive tech industry players in the region.
Competitive Analysis:
Leading players in the global connected car market include General Motors, Audi AG, Honda Motor Co. Ltd., BMW, Freescale Semiconductor Inc., Sierra Wireless, Texas Instruments Incorporated, Microsoft Corporation, NXP Semiconductors, Ford Motor Company, and Apple Inc.
Industry Updates:
In January 2019, Ford announced plans to include connected car systems on all its models produced in the U.S. starting from 2022.
Automotive Grade Linux is a collaborative effort between automakers to come up with a Linux-based platform for the development of connected car technology. Hyundai joined the group in January 2019.
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