Albany, NY -- (SBWIRE) -- 05/01/2018 -- 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.
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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.
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.
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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.
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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.