Connected vehicle marketÂ Share, Size, Trends, & Industry Analysis Report 2019-2026
Published Date:May 2020 (Upgradation in process)
Category:Automotive & Transportation
Impact Analysis on the Growth of Market
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The industry is expected to get a major push from the governments across the nations. The U.S. Department of Transportation in association with the National Highway Traffic Safety Administration has announced plans for a regulatory proposal that would make it mandatory for auto manufacturers for the installation of vehicle-to-vehicle communication devices in every automobile they produce in the coming years.
Connected Vehicle facilitates connectivity on wheels offering comfort, convenience, performance, safety, and security along with powerful network technology. This enables the driver to connect with online platforms, thereby facilitating real-time communication. Rise in consumer demand for connectivity solutions, surge in need for constant connectivity, increase in dependency on technology, and upsurge in tech-savvy population are the key factors that contribute toward the growth of the global connected cars market. Over time, various connectivity solutions have been developed by vehicle manufacturers and service providers, such as the machine-to-machine (M2M) connectivity platform. This M2M feature in a vehicle enables interconnectivity between two connected cars. The car is equipped with numerous sensors and processors, which provide accurate and real-time information to the driver. This in turn fuels the adoption of connected cars across the globe, thus supplementing the growth of the market.
Based on service:
*Social Media & Other Apps
*eCall & SOS Assistance
Based on hardware type:
*Electronic Control Unit
*Telematic Control Unit
Based on form type:
Based on end market:
Based on network:
By Regional Ananlysis
*Rest of Europe
*Rest of Asia-Pacific
*Rest of LATAM
Middle East & Africa
*Rest of MEA
Major industry participants include Alcatel Lucent, Apple Inc., AT&T Inc., Audi AG, BMW, Delphi Automotive, Ford Motor, General Motors Company, Google Inc. and NXP Semiconductors N.V. The industry is highly competitive and is driven by technological and product innovations.