Connected Car Devices Market at a CAGR of 29.44% Rising Enterprise Efficiency and Dominated by Top Competitors (Denso, Autoliv, Aptiv, Robert Bosch GmbH, Continental AG) and Forecast to 2023
Overview of the Global Connected Car Devices Market:
The Global Connected Car Devices Market is expected to reach USD 2,070.06 Million by 2023 at a CAGR of 29.44%. In 2016, the market accounted to USD 340.05 Million.
Connected car devices essentially assist in monitoring vehicles and drivers. The devices also keep private automobile owners, as well as fleet managers are updated about their vehicle’s performance on the fuel economy index, emissions, on-board diagnostics (OBD), vehicle maintenance, and recalls. Some devices also provide GPS tracking and real-time alerts.
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The major factors that are driving the market are increasing incidence of vehicle theft and a robust spike in the number of road accidents, particularly due to unsafe driving habits, like over-speeding, hard cornering, and unmanageably dense traffic, among many others. Apart from the aforementioned drivers, vehicle connectivity has also gained traction, due to the preference of in-car Wi-Fi hotspots and data services providing infotainment facilities.
In 2016, road crash statistics report 174 road fatalities per million inhabitants, globally. According to the Center for Disease Control and Prevention, road traffic injuries may become the seventh leading cause of death, globally. There are many applications that enable owners to interact with the vehicle even from a certain distance. For example, a plug-in device, known as DriveMate, sends live location data via SMS and email alerts, to prevent instances of auto-theft. This also includes real-time notifications whenever the ignition is turned on or off, or if the device is unplugged. A typical car communication system involves vital enhancements, including sensors that manage the efficiency of Car-To-Home (C2H), traffic patterns of Car-To-Car (C2C) and communications between Cars-To-Passengers (C2P).
This comprehensive Connected Car Devices Market research report 2019 – 2023 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.
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Major Key Players:
1 Denso Corporation
2 Autoliv Inc.
3 Aptiv PLC
4 Robert Bosch GmbH
5 Continental AG and More……………..
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Table of Contents:
2 Research Methodology
3 Executive Summary
4 Market Overview and Trends
5 Market Dynamics
6 Global Connected Car Device Market Segmentation by End-User
7 Global Connected Car Device Market Segmentation by Communication Type
8 Global Connected Car Device Market Segmentation by Product Type
9 Global Connected Car Device Market Segmentation by Vehicle Type
10 Global Connected Car Device Market Segmentation, By Geography
11 Competitive Landscape
12 Company Profiles
13 Future Outlook
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