Global Connected Car Market 2019 Latest Trends with Top Company: Audi AG, IBM Corporation, Bayerische Motoren Werke Group (BMW AG), AT&T, Vodafone Group

Market Overview:
According to Market Prognosis, the Global Connected Car Market is accounted for $72.95 billion in 2017 and is expected to reach $280.36 billion by 2026 growing at a CAGR of 16.1% during the forecast period. Increase in the demand for safer, more efficient & convenient driving, rise in industry compliance rules and government authorization for supporting connected technology in passenger cars are some of the key factors fueling the market growth. However, lack of strong network infrastructure in developing countries and growing the risk of cyber security for smart vehicles are hindering the growth of the market. One of the major opportunities in the market is development of the new value chain ecosystem of the automotive industry.

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Connected car uses mobile internet technology to control key functions remotely via a smartphone, smart watch, tablet device or computer. It contains OEM hardware, which allows networking of vehicles in different versions. Safety and security applications, such as e-Call systems that alert the emergency services in the event of an accident, will be the most common services supported by connected cars.

Top Players:
Some of the key players in Connected Car Market include Audi AG, IBM Corporation, Bayerische Motoren Werke Group (BMW AG), AT&T, Inc., Vodafone Group Plc, Intel Corporation, Google, Inc., Tesla, Inc., Qualcomm Incorporated, Vodafone Group Plc, TomTom NV, Ford Motor Company, Mercedes-Benz, BMW and Harman International Industries.

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Market Segments:
By Service, Connected Services segment commanded the largest market share due to the rise in demand for convenient features and increase in government authorizations. The new vehicle safety rules are encouraging auto firms to protect vehicle data from remote malfunctioning and hacking which in turn is rising the demand for connected cars.
By Geography, North America is anticipated to dominate the market due to the rising government permissions and increasing communication & information technology infrastructure such as 4G LTE or 5G. Asia Pacific is the fastest growing market owing to growing connected car devices in passenger cars and rise in digital services such as cyber security.
Hardwares Covered:
• Electonic Control Unit (ECU)
• Smart Antenna
• Sensors
• Display
Products Covered:
• Processors
• Wireless and cellular Modules
• Fleet Manager
Forms Covered:
• Integrated
• Embedded
• Tethered
Transponders Covered:
• Roadside Unit
• Onboard Unit
Services Covered:
• Autonomous Driving
• Connected Services
• Safety & Security
Technologies Covered:
• 2G
• 3G
• 4G/LTE
Networks Covered:
• Cellular
• Dedicated Short Range Communication (DSRC)
Applications Covered:
• Telematics
• Navigation
• Infotainment
End Users Covered:
• Aftermarket
• Original Equipment Manufacturer (OEM)
Regions Covered:
• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• UK
• Spain

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This release was published on openPR.