New York, NY -- (SBWire) -- 06/04/2019 --The global connected vehicle market is expected to grow from USD 42.1 Bn in 2015 to USD 122.51 Bn by 2023, expanding at a CAGR of 14%. The global connected passenger car market is expected to reach USD 75.67 Bn by 2023, expanding at a CAGR of 11% (2018-2023), and the global connected truck market is expected to reach USD 46.84 Bn by 2023, expanding at a CAGR of 13% (2018-2023).
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Technology agreements and plat forming are the key initiates adopted by the OEMs to gain market share. Many new application areas are emerging, namely usage-based insurance, vehicle diagnostics, and vehicle security, OTA update (over-the-air update) which are increasing efficiency for consumers and helping manufacturers achieve productivity gains. OEMs are bundling connected services like advanced infotainment systems and navigation features for low end models to potentially enhance the market growth and remain competitive.
Leading players of Connected Vehicle including:
Airbiquity Inc, Aptiv PLC, Autoliv, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH, TomTom, WirelessCar, and ZF Friedrichshafen
Major Regions that plays a vital role in Connected Vehicle market are:
- North America
- Europe
- China
- Japan
- Middle East & Africa
- India
- South America
- Others
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Key growth factors
The ever-increasing emphasis on personalization and customization across all car segments is seen as a major driver of the market. Also, the demands for personalized content, information, media feeds have been witnessed in the connected passenger car landscape. Since the mobile technology landscape is evolving at a rapid pace, a new opportunity for fleet managers has emerged to develop new differentiating capabilities and to further reduce costs and enable enhanced services using different connected technology products or services for connected commercial trucks.
Threats
Consumers are often reluctant to pay additional costs which come associated with embedded connectivity and see their smartphones as the solution to many of their in-car connectivity needs.
Increasing fuel prices is causing a credit crunch, and rising inflation is taking a toll on the global economy. The industry is also restricted by increasing regulations, sluggish demand, and increase in both fixed and marginal cost.
What's covered in the report?
1) Overview of the global connected vehicle market
2) Evolution of connected car solutions
3) Connected vehicle ecosystem
4) Connected vehicle- integration landscape model
5) Total number of global and regional embedded passenger car solutions by value (USD Bn) and volume (Mn units) 2018-2023,CAGR, and SWOT analysis for embedded solutions
6) Total number of global and regional integrated passenger car solutions by value (USD Bn) and volume (Mn units) 2018-2023, CAGR, and SWOT analysis for integrated solutions
7) Total number of global and regional tethered passenger car solutions by value (USD Bn) and volume (Mn units) 2018-2023, CAGR, and SWOT analysis for tethered solutions
8) Value proposition for connected passenger car services
9) Value proposition for original equipment manufacturers (OEMs)- connected passenger car services
10) Total number of global and regional fleet management solutions by value (USD Bn) and volume (Mn units) 2018-2023 and CAGR
11) Value proposition for connected truck services
12) Modular strategy - truck manufacturers and OEMs
13) Key opportunities in the global connected vehicle market
14) Key market trends in global connected vehicle market
15) Analysis of companies profiles of major public and private players operating in the market
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Key Points From TOC
Chapter 1: Executive summary
1.1. Study segments
1.2. Market segmentation
1.3. Key questions answered in this study
1.4. Executive summary
1.5. Evolution of connected car solution
1.6. SWOT analysis- embedded Solutions
1.7. SWOT analysis- tethered solutions
1.8. SWOT analysis- integrated solutions
1.9. Connected vehicle- ecosystem
1.10. Connected vehicle- integration landscape model
Chapter 2: Global connected passenger car- market overview
2.1. Global market overview
2.1. 1. Global growth drivers
2.1. 2. Global challenges
2.1. 3. Global trends
2.1. 4. Leading players in the market
2.2. Global market size
2.2. 1. Embedded solutions- Historical (2015-2017), forecasted (2018-2023) by value (USD Bn) and volume (Mn units), and key observations
2.2. 2. Integrated solutions- Historical (2015-2017), forecasted (2018-2023) by value (USD Bn) and volume (Mn units), and key observations
2.2. 3. Tethered solutions- Historical (2015-2017), forecasted (2018-2023) by value (USD Bn) and volume (Mn units), and key observations
Continue...
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Global Connected Vehicle Market Is Projected to Grow at a Healthy CAGR Till 2023 by Key Players: Airbiquity Inc, Aptiv PLC, Autoliv, Continental AG, Denso, NXP Semiconductors, TomTom
A closer look at the overall Connected Vehicle business scenario presented through self-explanatory charts, tables, and graphics images add greater value to the study.