San Jose, California (PRWEB) June 04, 2015
Follow us on LinkedIn The automotive industry is currently witnessing the refreshing emergence of new revenue streams and business models coming from smart vehicles and their related infrastructure. As the platform for bringing billions of mechanical and electronic gadgets into the digital fold, Internet of Things (IoT) represents the most disruptive technology of the 21nd century, attracting an explosion of venture capital investments. The evolving era of IoT is poised to revolutionize the automotive industry. Developments in sensor technologies, wireless technologies, micro-electromechanical systems (MEMS), energy-efficient networks, Internet infrastructure and communication standards, are spurring the importance of IoT as a technology platform for enabling the concept of connected cars. Other forces responsible for the growth of the automotive industry as a major microsystem of IoT include safety, reliability, entertainment and changing intelligent transportation needs. As the value chain of connected car ecosystem expands in the coming years, in-vehicle IoT strategy will emerge to achieve critical importance across all participants in the automotive value chain.
Vehicle manufacturers are increasingly focusing on automotive electronics to deliver, market-driven differentiated vehicles for a growing base of technology savvy consumers with complex information and connectivity needs. A key factor driving the need to connect vehicles to the Internet is the digitalization of modern consumer lifestyles. The growing interest in connected cars is strongly supported by effervescent developments in automotive electronics, specifically the evolution of five important enabling technologies i.e. in-car Wi-Fi, Bluetooth, Near Field Communication (NFC), Integrated GNSS, and Automotive Ethernet. These technologies play vital roles in vehicle connectivity, paring, and communication. Infotainment and connectivity are rapidly transcending the traditional confines of the luxury cars market. With these technologies moving up the lifecycle curve, falling costs are citied as the most important factor spurring penetration into middle and low tier vehicle segments.
In addition, government regulations are also driving connectivity in cars. Key factors driving stringent vehicle connectivity regulations include tighter pollution controls, growing need to improve road safety and the resulting regulatory emphasis on the deployment of driver assistance systems. By 2030, connected vehicles are set to become a mainstream phenomenon, with every car produced forecast to feature connectivity in some form or the other. Another major factor spurring interest in connected cars is the dedicated focus on and increasing public sector investments in intelligent transport systems (ITS). At the heart of ITS lies connected cars. The explosive growth of smartphones across both developed and developing nations is fuelling interest in integrating smartphone connectivity into cars.
As stated by the new market research report on Connected Car Solutions, the United States represents the largest market worldwide. Led by China, Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 32.6% over the analysis period. Embedded connectivity represents the largest market, while Smartphone Connectivity is set to emerge as the fastest growing segment with a CAGR of 31.9% over the review period.
Major players in the market include Automotive OEMs (Audi AG, Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, Fiat Chrysler Automobiles N.V., General Motors Company, Honda Motor Co. Ltd, Nissan Motor Co., Ltd, Renault Group, Toyota Motor Corp); Connectivity Technology Providers, (Airbiquity, Apple Inc., Delphi Automotive LLP, Freescale Semiconductor Inc, Google Inc., Harman International, Intel Corporation, Intelligent Mechatronic Systems Inc., Jasper, Microsoft Corporation, NXP Semiconductors N.V. , Octo Telematics SpA, QNX Software Systems Ltd., Qualcomm Incorporated, Robert Bosch GmbH, Texas Instruments Incorporated, TomTom International BV, Verizon Telematics Inc., and WirelessCar); and Telecom Operators (Aeris Communications, AT&T, Sierra Wireless, Vodafone Group Plc, Vodafone Automotive SpA, and Verizon Communications, Inc.), among others.
The research report titled Connected Car Solutions: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in Units for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. World market for Connected Car Solutions is also analyzed by segments Embedded Connectivity, Smartphone Connectivity, and Tethered Connectivity.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
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