Global Connected Vehicle Market Expected to grow USD 122.51 Bn by 2023 , expanding at a CAGR of 14% | Airbiquity, Aptiv PLC, Autoliv, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH, TomTom

Global Connected Vehicle Market

The global connected vehicle market is expected to grow from USD 42.1 Bn in 2015 to USD 122.51 Bn by 2023 , expanding at a CAGR of 14%. The global connected passenger car market is expected to reach USD 75.67 Bn by 2023, expanding at a CAGR of 11% (2018-2023), and the global connected truck market is expected to reach USD 46.84 Bn by 2023, expanding at a CAGR of 13% (2018-2023).

The connected vehicle ecosystem is evolving in which global connected car manufacturers and automotive OEMs are developing various connected solutions. On the basis of connectivity, demand for embedded solutions, tethered solutions, and integrated solutions for connected passenger cars has increased over the years. Similarly, the use of telematics and fleet management solutions for connected commercial vehicles has risen.

Some of the key players operating in the market are:-Airbiquity Inc, Aptiv PLC, Autoliv, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH, TomTom, WirelessCar, and ZF Friedrichshafen.

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Technology agreements and plat forming are the key initiates adopted by the OEMs to gain market share. Many new application areas are emerging, namely usage-based insurance, vehicle diagnostics, and vehicle security, OTA update (over-the-air update) which are increasing efficiency for consumers and helping manufacturers achieve productivity gains. OEMs are bundling connected services like advanced infotainment systems and navigation features for low end models to potentially enhance the market growth and remain competitive.

Autonomous vehicles are no more a thing of the future with various sensors (LIDAR, RADAR) and processors located in the vehicle, which provide real time information and facilitate an autonomous driving experience. Ride sharing companies are investing heavily and also facilitate strategic collaborations to upgrade their traditional vehicles to all-electric vehicles.

Key growth factors

o The ever-increasing emphasis on personalization and customization across all car segments is seen as a major driver of the market. Also, the demand for personalized content, information, media feeds have been witnessed in the connected passenger car landscape.
o Since the mobile technology landscape is evolving at a rapid pace, a new opportunity for fleet managers has emerged to develop new differentiating capabilities and to further reduce costs and enable enhanced services using different connected technology products or services for connected commercial trucks.

Threats and key players:

o Consumers are often reluctant to pay additional costs which come associated with embedded connectivity and see their smartphones as the solution to many of their in-car connectivity needs.
o Increasing fuel prices is causing a credit crunch, and rising inflation is taking a toll on the global economy. The industry is also restricted by increasing regulations, sluggish demand, and increase in both fixed and marginal cost.

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Table of Contents:

Chapter 1: Executive summary

1.1. Study segments
1.2. Market segmentation
1.3. Key questions answered in this study
1.4. Executive summary
1.5. Evolution of connected car solution
1.6. SWOT analysis-embedded Solutions
1.7. SWOT analysis-tethered solutions
1.8. SWOT analysis-integrated solutions
1.9. Connected vehicle-ecosystem
1.10. Connected vehicle-integration landscape model

Chapter 2: Global connected passenger car-market overview

2.1. Global market overview
2.2. 1. Embedded solutions-Historical (2015-2017), forecasted (2018-2023) by value (USD Bn) and volume (Mn units), and key observations
2.2. 2. Integrated solutions-Historical (2015-2017), forecasted (2018-2023) by value (USD Bn) and volume (Mn units), and key observations
2.2. 3. Tethered solutions-Historical (2015-2017), forecasted (2018-2023) by value (USD Bn) and volume (Mn units), and key observations
Chapter 3: North America connected passenger car-market overview
Chapter 4: Europe connected passenger car-market overview
Chapter 5: Asia-Pacific connected passenger car-market overview
Chapter 6: Latin America connected passenger car-market overview
Chapter 7: Middle East and Africa connected passenger car-market overview
Chapter 8: Connected passenger car services-value proposition
Chapter 9: Global connected truck-market overview
Chapter 10: North America connected truck-market overview
Chapter 11: Europe connected truck-market overview
Chapter 12: Asia-Pacific connected truck-market overview
Chapter 13: Latin America connected truck-market overview
Chapter 14: Middle East and Africa connected truck-market overview
Chapter 15: Modular strategy and potential analysis-global truck market
Chapter 16: Companies profiled
Chapter 17: Appendix

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