Connected Car Market 2018 - Global Forecast to 2025

Dublin, Feb. 19, 2018 -- The "Connected Car Market by Service (Connected Services, Safety & Security, and Autonomous Driving), Form (Embedded, Tethered, and Integrated), Network (DSRC, and Cellular), End Market, Transponder, Hardware, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering

The global connected car market is estimated to be USD 72.89 billion in 2017 and is projected to reach USD 219.21 billion by 2025, at a CAGR of 14.8% from 2017 to 2025.

The major factors driving the growth of the market include an increase in vehicle legislation and industry compliances regarding safety and cybersecurity of the vehicle, and increasing demand for convenient features, such as navigation, remote diagnostics, and multimedia streaming.

The new vehicle safety norms are encouraging automakers to make vehicle data more secure from remote hacking and malfunctioning, which in turn is increasing the demand for connected cars. On the other hand, the absence of strong network infrastructure in developing countries may create a challenge to the growth of the connected car market.

The governments of respective countries globally are taking initiatives for making safety features, such as eCall and vehicle tracking mandate. Hence, the government mandates are fueling the market of the embedded segment, as automobile manufacturers would offer connected feature as a standard offering. Various digital systems, such as Global Positioning System (GPS) tracking systems, remote diagnostics systems, fuel management systems, and driver information systems, are provided as a standard feature in cars by Original Equipment Manufacturers (OEMs).

In North America and Europe, OEMs such as General Motors (US), Daimler (Germany), Volvo (Sweden), and Volkswagen AG (Germany) offer embedded connected solutions in their car models. Furthermore, these services would help the automotive companies in analyzing the data generated by Electronic Control Units (ECUs), which would provide connected services through the cloud platform. Hence, the government mandates are expected to drive the connected car market for the embedded segment, globally.

Asia Pacific is expected to be the fastest-growing region for connected cars during the forecast period. One of the key drivers for the Asia Pacific market is the increased demand for infotainment and navigation services, particularly in China, Japan, and South Korea.

The tech-savvy population in these countries demands a better and connected driving experience. China already has some regulations in place in this domain. In 2017, the Chinese Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) issued a draft to establish national standards for China's Intelligent and Connected Vehicles (ICVs).

Market Dynamics

Drivers

• Rise in the Demand for Safer, More Efficient, and Convenient Driving
• Government Mandates for Connected Car Applications

Restraints

• Lack of Supporting Infrastructure for Connected Cars in Developing Countries
• Unavailability of Standard Platforms

Opportunities

• Evolution of the New Value Chain Ecosystem of the Automotive Industry
• The Road to Autonomous Vehicles

Challenges

• Increase in the Threat of Cyber Security for Smart Vehicles
• Cost Optimization of the Connected Car Technology in the Vehicle

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Connected Car Market, By Service

7 Connected Car Market for Automotive, By End Market

8 Connected Car Market for Automotive, By Form

9 Connected Car Market for Automotive, By Hardware

10 Connected Car Market, By Transponder

11 Connected Car Market for Automotive, By Network

12 Connected Car Market, By Region

13 Competitive Landscape

14 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/sjgq8w/connected_car?w=12

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