The Global Connected Automotive Market Is Projected To Grow At A CAGR Of 10.8% During The Forecast Period 2022-2030.
Market Overview
The research firm Contrive Datum Insights has just recently added to its database a report with the heading global Connected Automotive Market. Both primary and secondary research methodologies have been utilised in order to conduct an analysis of the worldwide Connected Automotive Market. In order to provide a comprehensive comprehension of the topic at hand, it has been summed up using appropriate and accurate market insights. According to Contrive Datum Insights, this worldwide comprehensive report is broken up into several categories in order to present the data in a way that is understandable, succinct, and presented in a professional manner.A connected car can access the internet and usually also has a wireless local area network.Increased industry compliance standards and government regulations that support connected technology in passenger cars are two of the main factors. But factors like limited network coverage, delays caused by a lack of standardization, and worries about data privacy and cybersecurity could slow the growth of the connected car market in the future.The growth of the market can be attributed to OEMs’ growing demand for connected cars and aftermarket services’ growing popularity. By system type, the global connected vehicle market is divided into embedded, tethered, and integrated systems. The embedded systems segment is expected to have the biggest share of the global connected vehicle market in 2018 because it is inexpensive and easy to install. But the integrated systems segment is expected to grow at a higher CAGR over the forecast period because it has more advanced features like voice recognition, navigation help, and real-time traffic updates that aren’t available in embedded or tethered systems. By application, the global connected vehicle market is divided into OEM and aftermarket segments (US).
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Segment Analysis
It encompasses the most important key players in the world’s various regions and contains them. In this research report, several different techniques that high-level industries have utilised to achieve their goals are discussed. In order to obtain a more in-depth analysis of a number of different businesses, player profiles of the most important top players have been developed. It is beneficial to have an understanding of the worldwide competition on both the domestic and international platforms.It provides a detailed description of the drivers and opportunities in the Connected Automotive Market, which assists current customers and potential customers in gaining a clear vision and making decisions that are most effective for them. In order to discover the desired facts regarding the target market, various types of analysis models, such as Connected Automotive Market, are utilised. In addition to this, it includes a variety of different techniques for strategic planning, which encourages the way to define and develop the framework of the various industries.According to market predictions, the driver assistance segment is expected to lead the market during the forecast period. The advanced driver assistance system includes things like adaptive cruise control, lane keep assist, a 360-degree view camera, park assist, and other high-tech features that make the vehicle safer. Based on the type of technology, the market is divided into embedded, tethered, and integrated systems. During the forecast period, the integrated segment is expected to be the market’s biggest part. When compared to embedded and tethered systems, these systems offer unlimited ways to share data and are cheaper. The market is divided into 3G, 4G, 5G, and satellite networks, depending on the type of network. During the forecast period, the 5G segment is expected to be the market’s biggest part. Several companies in the telecommunications industry are working on advanced 5G networks to make it easier for connected vehicles and other devices to talk to each other. The market is divided into OEM (original equipment manufacturer) and aftermarket (aftermarket) based on the sales channel. The OEM segment has the biggest share of the global market. Depending on the type of communication, the market is divided into Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) segments.
Based on types, the Connected Automotive Market is segmented into:
- Embedded
- Tethered
- Integrated
- Other
Based on application, the Connected Automotive Market is segmented into:
- Original Equipment Manufacturer (OEM)
- Aftermarket
- Other
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Recent Development
- June 2021: Payment24 launched vehicle biometrics to make refueling smarter and faster. Payment24, a leader in fuel management and payment solutions, has released a smart refueling solution with biometric features for connected cars. When a registered vehicle pulls up to a gas station, the module allows the fuel to be approved and the payment to be taken out automatically. The service is expected to greatly cut down on fuel fraud and waste.
- June 2021: Garrett Motion Inc. works with Hyundai Motor Company Together with Hyundai Motor Company, Garrett Motion Inc. launched Model-based Predictive Control (MPC) software. This software will provide new ways to manage the health of a vehicle.
- September 2019 – Harman teamed up with Spotify to make advanced connected technologies. Harman International worked with Spotify to create advanced connected technologies for the automotive and consumer electronics industries. This partnership is the next step in Harman’s long-term relationship with Spotify. It allows Spotify to expand its ties to consumer electronics into the fast-growing automotive market.
- In February 2018, TomTom launched TomTom Audio Traffic. TomTom Company made TomTom Audio Traffic, a personalized traffic information system that uses a voice tool to tell the driver about traffic. This feature gives the driver accurate and personalized traffic information about the road ahead.
Regional Analysis
By region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is expected to have the largest share of the connected car market. This is because more and more people are using high-end and cost-effective connectivity solutions. Connected vehicles have also grown in this area because people want embedded connectivity systems in their cars and more and more people are buying connected cars.
Europe is expected to be the second-largest region in this market due to the many development projects that governments across the continent and major key players in this region are working on. Growing partnerships and collaborations between the key market players have led to the early adoption of advanced technologies. For example, in January 2017, Parkopedia and Volkswagen launched high-definition autonomous driving (HAD) Parking Maps to give their customers detailed information about parking spaces.
Regional Connected Automotive Market coverage (Regional Status, Demand Forecast, Country Trends, etc.):
- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in Connected Automotive Market include:
- Connected Automotive Market Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
Key market forces.
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Key Market Participants in the Connected Automotive Market:
Continental, Delphi, Denso, Bosch, Harman, NXP, Infineon, ZF, Autoliv, Valeo, Aisin Seiki, Hella, And Others.
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