DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/mplnw3/global_connected) has announced the addition of the "Global Connected Car Market (Technology, Connectivity Solutions, Product and services, Applications and Geography) - Size, Share, Global Trends, Company Profiles, Analysis, Segmentation and Forecast, 2013 - 2020" report to their offering.
The connected car market is expected to generate a revenue of $141 Billion by 2020
Advanced infotainment systems and a fast connection to the wireless network are the two prominent features that potentially enhance the market growth. Technology agreements and collaborations are the key strategies adopted by the market players to enhance their market share. For instance, AT&T is working with automotive manufacturers to provide contextual voice controls, which would help to create a safer driving experience. TomTom has launched the online turn-by-turn navigation service for customers, making it feasible to connect over a network.
Connected cars facilitate connectivity on wheels offering comfort, convenience, performance, safety and security combined with powerful network technology. This enables the driver to connect with online platforms and facilitates real-time communication on the go. Rising consumer demands, the need for constant connectivity, increased dependency on technology and the growing number of tech savvy people account for the growth of this market. Over time, various connectivity solutions have been developed by the car manufacturers and service providers such as the Machine-to-Machine (M2M) connectivity platform. This M2M feature in a car enables interconnectivity between two connected cars. Numerous sensors and processors located in the car provide accurate and real-time information to the driver.
Key findings of the study:
- 2G network technology will slowly fade out giving way to advanced telecommunication technology namely 3G and 4G
- By 2020, integrated and embedded solutions will be amongst the most popular connectivity solutions in the connected car market and would together account for about 80% of the overall market
- North America and Europe would prove to be the most lucrative markets in terms of revenue generation, whereas the Asia-Pacific market will grow fastest
- Navigation and infotainment services together occupied almost 80% of the market share in 2013 and would maintain steady growth during the forecast period
- Growing demand for connectivity solutions within the vehicle and the rising number of tech savvy youth are two prime factors that will drive the global connected cars market
Scope of the Report
Global Connected Cars Market by Technology
Global Connected Cars Market by Connectivity Solutions
Global Connected Cars Market by Products & Services
- Wireless and Cellular Modules
- OEM Services
- Aftermarket Services
- Fleet manager
Global Connected Cars Market by Applications
- Ford Motors Co.
- Vodafone Group Plc
For more information visit http://www.researchandmarkets.com/research/mplnw3/global_connected