The
report provides in depth analysis, market shares, forecast, and
market size estimates, covering the details of the market over the
period 2013-2019 for the connected car market across the globe. The
study also discusses market players across different regions and
categories, namely, platform providers, vehicle manufacturers,
application providers, wireless module developers, and connectivity
network providers.
According
to this report, the global connected car market is expected to reach
US$131.9 billion by 2019, growing at a CAGR of 34.7% from 2013 to
2019. With increasing technological advancements in mobile technology
and networks such as 2G (GSM, GPRS, EDGE), 3G (UMTS, HSPA, HSPA+),
4G/long-term evolution (LTE) technology, and Wi-Fi, rendering
internet in car has become an emerging trend in the automotive
industry. Connectivity in a vehicle is popularly becoming a key
driver and a must-have feature to the industry.
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Owing
to lower operating costs and high data transmission volumes,
4G/long-term evolution (LTE) technology is retaining its position in
the market in comparison to other technologies. 4G held more than 30%
of the entire market share in 2012 due to its simplified network
design and high speed facilities.
Key
Factors (Growth and Restraints)
Consumers'
mandates and demands are the primary growth drivers for this market.
In addition, rapid growth in network technology, government mandates,
essentiality for connectivity, growing awareness about security and
safety in car, and changing consumer preferences for automated
systems are critical factors fueling the growth of the global
connected car market.
Demand
for other services such as in-car infotainment services (music and
gaming), emerging applications in vehicles, rising mobility related
information (weather, location, and traffic information), audio
navigation via GPS, and entertainment are further boosting the
growth. Consumers are becoming aware of different safety and security
services such as stolen vehicle tracking (SVT) and emergency call
(eCall) which is increasing the demand for connectivity technology in
the global market. Nevertheless, the risks of distraction while
driving and the high cost of external hardware for installation are
some of the factors inhibiting the growth of this market.
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Based
on connectivity solutions, the market is further divided into
tethered, embedded, and integrated types. Out of these three major
categories, the integrated segment held the largest market share with
around 50% in 2012, followed by tethered and embedded segments.
However, telematics, navigation, and infotainment are the three
various applications considered in terms of scope of this market. On
account of growing traffic information services and demand for
getting driving directions via car GPS, the navigation segment
dominated the market in 2012 across the globe.
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To
aid strategic decision-making, the study analyzes the connected car
market on a regional basis. Some of the key regions included are:
North America, Europe, Asia Pacific, and Rest of the World (RoW).
Each of these regional segments is estimated in terms of revenue (USD
million) from 2013 to 2019.
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North
America occupied the largest market share in this market as of 2012.
It held more than 50% share of the overall market during that year.
This aspect can be attributed to the higher smartphone penetration
and technological advancements in entertainment in this particular
region.
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Due
to the growing usage of web-based applications and government
mandates, China is predicted to be the largest consumer for
integrated solution over the forecast period, followed by the U.S.
and Europe. Furthermore, Asia-Pacific will rapidly grow in size and
demand for connectivity technology in the coming years. Owing to an
increasing demand for applications such as fleet management,
navigation, and infotainment, the demand for this technology will be
seen in China, India, and Australia as well.
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research techniques in developing distinctive data sets and research
material for business reports.
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