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Rise in the Demand for Safer, More Efficient, and Convenient Driving to fuel Connected Car Market

The new vehicle safety norms are encouraging automakers to secure vehicle data from remote hacking and malfunctioning, which in turn is increasing the demand for connected cars. On the other hand, customers are demanding more convenient features, such as navigation, remote diagnostic, multimedia media streaming, and auto pilot, as a standard in every vehicle.

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Rise in the Demand for Safer, More Efficient, and Convenient Driving to fuel Connected Car Market

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  1. 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 www.MarketsandMarkets.com

  2. Connected services segment is expected to hold the largest market share during the forecast period The new vehicle safety norms are encouraging automakers to secure vehicle data from remote hacking and malfunctioning, which in turn is increasing the demand for connected cars. On the other hand, customers are demanding more convenient features, such as navigation, remote diagnostic, multimedia media streaming, and auto pilot, as a standard in every vehicle. The global connected car market, by value, is estimated to be USD 72.89 Billion in 2017 and is projected to reach USD 219.21 Billion by 2025, at a compound annual growth rate (CAGR) of 14.8% from 2017 to 2025. Some of the major drivers identified are increase in industry compliance norms and government mandates supporting connected technology in passenger cars. However, factors such as network coverage limitation, lag in lack of standardization, and concerns related to data privacy and cybersecurity may hinder the growth of the connected car market in the future. PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=102580117

  3. The automotive industry is witnessing a high degree of innovations and disruptive technologies. Various technologies such as head-up displays, smart infotainment, telematics systems, and autonomous driving are becoming an integral part of high-end automobiles. With improved connectivity, a vehicle can interact with other entities, such as infrastructure as well as other vehicles, to share useful information, including driving habits, traffic congestion, shortest route, roadblocks, and fuel economy. Most of these technologies use real-time data and require regular updates, and are thus able to communicate operational and diagnostic data from onboard systems and connected devices. Request for Customization : https://www.marketsandmarkets.com/requestCustomization.asp?id=102580117

  4. The global connected car market is segmented by network, service, transponder, form, end market, hardware, and region. The report discusses various types of features, such as navigation, remote diagnostics, multimedia streaming, on-road assistance, eCall, and auto parking. The connected services segment is expected to account for the largest market share in the global connected car market, which would grow at a significant CAGR during the forecast period. The growth of connected car services is expected to be driven by an increase in demand for convenient features and increase in government mandates. Furthermore, to understand the type of end market, the report discusses the market for connected car under 2 distinctive end market types, namely, Original Equipment Manufacturer (OEM) and aftermarket. Request Sample @ https://www.marketsandmarkets.com/requestsample.asp?id=102580117

  5. Asia Pacific is expected to be the largest market for connected cars during the forecast period Asia Pacific is expected to account for the largest market share, followed by Europe, North America, and RoW. Asia Pacific is anticipated to remain predominant during the forecast period due to various factors, such as increasing connected car devices in passenger cars, and increase in digital services such as cybersecurity and updates. In terms of growth rate, North America is projected to exhibit the second highest CAGR during the forecast period. The growth in North America is anticipated to be driven by increasing government mandates and growing communication and information technology infrastructure, such as 4G LTE or 5G. Speak to analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=102580117

  6. Market Ecosystem: • The ecosystem of the connected car market consists of manufacturers, such as Continental (Germany), Delphi (UK), Bosch (Germany), Denso (Japan), and Harman (US), and research institutes such as JAMA, EAMA, CAA, and KAMA. • Target Audience • Automobile manufacturers • Automobile organizations/associations • Cloud service providers • Compliance regulatory authorities • Connected car hardware manufacturers • Government agencies • Buy Now: • https://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=102580117

  7. Browse >> 118market data tables 61figures 174 pagesand in-depth TOC  "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“ Early buyers will receive 10% customization on this report. This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  8. Contact:Mr. Shelly SinghMarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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