Connected
cars are characterized by the presence of devices which can connect
to other devices within the automobiles and/or networks, services and
devices outside the automobile including other vehicles,
infrastructure, home or office. These cars are equipped with internet
access and the internet can be shared with devices both outside and
inside the cars. The global connected
car devices market is being primarily driven by increased
demand for premium passenger cars globally and changing buyer
preferences coupled with electrification of vehicles and stringent
legislations related to vehicle safety globally. Changing government
approach globally towards passenger, pedestrian, driver and vehicle
safety is imposing various regulations that mandate auto makers to
develop automobiles with installed safety features and this is
steadily driving the global connected car devices market. Further,
growth in information and telecommunication infrastructure and
increasing penetration of such services in the automotive industry is
boosting the global market growth. However, privacy issues related to
data generated by automobiles and lack of infrastructure to support
vehicle connectivity are posing to be hindrances to the growth of the
global connected car devices market.
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The
global connected car devices market can be segmented on the basis of
communication type, connectivity mode, product type, vehicle type,
electric vehicles and region. Based on communication the global
market can be segmented into vehicle to vehicle, vehicle to
infrastructure, vehicle to pedestrian and others. By connectivity
mode, the connected car devices market can be segregated into
dedicated short range communication and cellular network/Wi-Fi.
Dedicated short range communication is anticipated to acquire larger
share of the market during the forecast period, as the short range
communication technologies (Radar and LiDar) used by this technique
allows swift communication between connected car networks and are
used for several applications in the modern automobiles. On the basis
of product type, the global market can be classified as driver
assistance system, telematics and others. Driver assistance systems
include adaptive cruise control, blind spot detection, intelligent
parking assist, lane departure warning, pedestrian detection system
and road side recognition among others. Telematics is set to record
swift growth from 2017 – 2025, as it has been mandated in most of
the advanced economies of North America and Europe and this mandate
is anticipated to be followed from 2019.
The
global connected car devices market can be further segmented by
vehicle type into passenger vehicles, light commercial vehicles and
heavy commercial vehicles and by electric vehicle type into hybrid
electric vehicle, plug-in hybrid electric vehicle, battery electric
vehicle and fuel cell electric vehicle. Additionally, the market can
be classified geographically into North America, Europe, Asia
Pacific, South America and Middle East and Africa. Among these
regions, Asia Pacific is expected to witness the highest growth rate
during the forecast period, owing to stringent government regulations
and rapidly increasing vehicle production in countries such as China,
India and Japan among others. Improving socio-economic condition in
this region has resulted in augmented demand for premium segment
passenger vehicles, which is in turn expected to steadily bolster the
growth of the connected car devices market in the coming years.
The
global connected car devices market report provides the market share
analysis of the key industry participants operating in the industry.
The global market comprises a considerable number of manufacturers.
These players have been exhaustively profiled and their business
overview, financial overview, business strategies and recent
developments have been covered under the purview of the report. Some
of the major players operating in the global connected car devices
market include Robert Bosch GmbH, Delphi Automotive PLC, Denso
Corporation, ZF Friedrichshafen AG, Valeo S.A., Autoliv, Inc.,
Visteon Corporation, Magna International, Inc., Infineon Technologies
AG, Panasonic Corporation and Harman International Industries,
Incorporated among others.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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