(MENAFN- iCrowdNewsWire) Global Connected Car Market
Connected cars offer connectivity on wheels providing comfort, convenience, along with powerful network technology. This technology enables driver to connect with online platform, thereby facilitating real-time communication. Increase in, consumer solutions surge in need for constant connectivity and rise in dependency on technology are some factors which are expected to drive the market growth during this forecast period.
Increase in demand for enhanced user comfort, safety, and convenience is considered as driving factor which is expected to boost the global connected car market growth. Furthermore, emergence of various technologies such as 5G and artificial intelligence will have the positive impact on market growth. Moreover, increase in popularity of automation in automotive sector which is expected to propel the market growth. In addition to that, increase in disposable income across the regions will fuel the market growth during this forecast period.
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However, lack of infrastructure for proper functioning of connected car is the major challenging factor which is expected to obstruct the market growth. Also, safety and security issues like unauthorized access to multiple automobile appliances in breaking into the vehicle connectivity system is the restraining factor which expected to hinder the market growth.
Market Segmentation
Global connected Car Market is segmented into technology such as 3G, 4G/LTE, and 5G, by connectivity solutions such as Integrated, Embedded, and Tethered, by services such as Driver Assistance, Safety, Entertainment, Well-being, Vehicle Management, and Mobility Management, and by end users such as Original Equipment Manufacturers, and Aftermarket.
Also, Global connected Car Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
Market Key Players
Various key players are discussed in this report such as BOSCH, CONTINENTAL, HARMAN, VISTEON, AIRBIQUITY, CLOUDMADE, TESLA, FORD MOTOR COMPANY, and AUDI
Market Taxonomy
By Technology
By Connectivity Solutions
- Integrated
- Embedded
- Tethered
By Services
- Driver Assistance
- Safety
- Entertainment
- Well-being
- Vehicle Management
- Mobility Management
By End Users
- Original Equipment Manufacturers
- Aftermarket
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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