In-Vehicle Connectivity Market in Passenger Vehicles Segment is Expected to Account Largest Industry Share By 2025
Parallel growth for Internet Service Providers (ISP) is anticipated to drive the growth of in-vehicle connectivity market. Parallel growth of ISP will influence the connected vehicles market as well as enable connectivity systems embedded within the car for a hassle-free driving experience. The increase in the demand for driver assistance systems is expected to drive the growth of market as it will help in hassle-free parking and fuel purchase from dashboards without requiring any cards or devices to complete the purchase.
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The increasing demand for real-time surveillance and video streaming capability to monitor, analyze, and diagnose patients on the road will proliferate the in-vehicle connectivity market. These features will improve the emergency and telematics services, resulting in improved customer experience. The rise in dependency on technology coupled with a surge of tech-savvy users will contribute to the in-vehicle connectivity market. The supportive government initiatives and regulations to increase the number of connected vehicles on roads will boost market growth. For instance, in April 2018, the European parliament enforced the regulation mandating E-call systems in vehicles, ensuring passengers’ safety.
Asia Pacific is estimated to grow at a significant CAGR in the in-vehicle connectivity market due to rising disposable income and spending on luxury & premium vehicles in developing countries including China, India, and Indonesia. The growing IoT infrastructure development coupled with the rising internet penetration will contribute to the market growth in the region. The presence of prominent automakers, such as Toyota, Honda, and technology players such as Alibaba in the region, are supporting the market growth. These players are also focusing on strategic alliances with other key players to enhance in-vehicle connectivity services for automakers, proliferating the in-vehicle connectivity market. For instance, in April 2018, Alibaba AI Labs partnered with major automotive OEMs including Audi AG, Daimler AG, and Volvo AB to supply AI technology for home-to-vehicle connectivity in China.
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In-Vehicle Connectivity Market By Services, 2014-2025 (USD Million)
• Remote monitoring & control
• Safety & security
• Fleet management
In-Vehicle Connectivity Market By Vehicle Type, 2014-2025 (USD Million)
• Passenger Vehicle
• Commercial Vehicle
Some of the key market players of in-vehicle connectivity market, which include automotive manufacturers are Audi AG, Baidu, Inc., BMW AG, Continental AG, Daimler AG, Ford Motor Company, General Motors Company, Harman International Industries Inc., Honda Motor Co. Ltd., Hyundai Motor Corporation, IBM Corporation, Panasonic Corp., Tesla Inc., Toyota Motor Corporation, and Volvo AB.
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