Connected vehicles is refer as the vehicle in which there is an presence of devices which connect the one device of a vehicle with other devices within the car/vehicles or devices, services and networks outside the car including with other cars, office, home or infrastructure. Internet access used in a connecting vehicle is usually connected through a local area network. According to the experts, the connected cars are one of a part of the giant Internet of Things
AdvanceMarketAnalytics has segmented the market of Global Connected Vehicles market by Type, Application and Region.
On the basis of geography, the market of Connected Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Government regulations such as mandate of eCall is driving more investments into the market
Growing safety reasons and need for driver assistance and Due to the improved connectivity, a vehicle can interact with other entities, to share useful information which includes driving habits, traffic congestion, shortest route, roadblocks, and fuel economy
Evolution of the new value chain ecosystem of the automotive industry and The road to autonomous vehicles
- Lack of supporting infrastructure for connected cars in developing regions
- Unavailability of standard platforms for the market
In addition to the aforementioned factor, Growing safety reasons and need for driver assistance
is expected to propel the growth of the market over the forecast period.
The key Vendors profiled in the study are BMW (Germany), Broadcom (United States), Chrysler (United States), Benz (Germany), Daimler (Germany), Volkswagen (Germany), Hyundai Motor (South Korea), Honda (Japan) and Volvo (Sweden). A lot of United States and German players are profiled in the research study indicating a strong market dependence.