DUBLIN--(BUSINESS WIRE)--The "Global Connected Car Market Analysis and Forecast to 2023" report has been added to Research and Markets' offering.
Connected car market size is projected to arosss $43,451 million by 2023, led by rapid adoption of IoT and adjacent technologies in the automobile industry.
As per the findings of research, fleet manager was the highest revenue generating product category in the global market, accounting for more than 40% in 2016. In terms of application, the market is bifurcated into navigation, infotainment, and telematics, where navigation stood as the largest application area of connected cars. Navigation is also expected to be the fastest growing application of connected cars in the years to come. Connected cars are now being transformed from a simple automobile concept to advanced automotive technology in a relatively short time span.
All major automotive manufacturers across the globe, are now concentrating on developing and implementing the connected car concept into their vehicles. Over half of the connected car industry revenue in 2023 is expected to come from integrated solutions. During the forecast period, embedded will remain the second preferred connectivity solution among connected car consumers.
Factors driving the growth of the global market include increasing availability of connectivity options, rise in the usage of advanced diagnostic and maintenance system, and increasing awareness toward safety and security of passengers. The emerging rise in smart phone technology has changed the definition of connectivity in recent time. Consumers wish to stay connected with the outer world even while travelling. Now that connectivity has become a need of the hour, the automobile manufacturers strongly resonate for providing connectivity solution in their vehicles to boost their automobile sales.
Automotive players are entering in strategic alliances with technology providers to combine their expertise and offer best in class connected car solutions and compete with peers. For instance, Honda Cars India recently tied up with IBM, leading to a collaboration between IBM Watson IoT and Honda Connect. Honda, an automobile manufacturer in the region, aims to enhance its existing Honda Connect platform using Watson IoT and offer its customers with new features around service booking, convenience, safety and security. Some of the major players operating in this market are Telefonica S.A., Google Inc., Bayerische Motoren Werke (BMW) Group, AT&T Inc., Intel Corporation, IBM Corporation, and Vodafone Group Plc.
Key Topics Covered:
1. Research Background
2. Research Methodology
3. Executive Summary
5. Global Market Size and Forecast
6. North America Market Size and Forecast
7. Europe Market Size and Forecast
8. Asia-Pacific Market Size and Forecast
9. Latin America, Middle-East & Africa Market Size and Forecast
10. Competitive Landscape
11. Company Profiles
- AT&T, Inc.
- Audi AG
- Bayerische Motoren Werke Group (BMW AG)
- Google, Inc.
- IBM Corporation
- Intel Corporation
- Qualcomm Incorporated
- Telefonica, S.A.
- Tesla, Inc.
- Vodafone Group Plc
For more information about this report visit https://www.researchandmarkets.com/research/d9sh9n/global_43_4?w=4