How is Growing Need for Safety on Roads Driving U.S. Connected Car Market? Key Players are Autoliv, Delphi Technologies, DENSO, Continental

While vehicles have become somewhat of a mainstream technology, their increased adoption has also caused severe problems. One of the major concerns today is the rising number of road traffic crashes all across the globe, including the U.S. For example, over 38,000 people are killed every day in the U.S. due to road crashes and about 4.4 million are injured severely enough to need medical attention. The traffic fatality rate in the U.S. is 12.4 deaths per 100,000 inhabitants. In addition to this, road crashes in the U.S. cost over $380 million in direct medical costs.

U.S. Connected Car Market Key Players:
1- Autoliv
2- Delphi Technologies
3- DENSO
4- Continental

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Because of these attributes, the U.S. connected car market is expected to generate revenue of $37,350.1 million by 2023, increasing from $12,354.8 million in 2017, witnessing a 20.8% CAGR during the forecast period (2018-2023).

Different products and services are offered by connected car solution vendors, namely aftermarket services, fleet manager, processors, wireless and cellular modules, sensors, and original equipment manufacturer services. Out of these, the largest demand in the past was created for fleet manager services in the past, as fleet managers help in tracking the condition of the vehicle, so that it can be maintained to avoid the occurrence of serious casualties.

The major applications provided in connected cars are telematics, navigation, and infotainment. In the past, the navigation application found the widest usage in connected cars, as it is one of the most basic requirements in advanced vehicles. The rapidly increasing need for commuting in cities is a major factor resulting in the growth of the U.S. connected car market. In addition to all this, navigation applications in connected cars are cost-effective.

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U.S. CONNECTED CAR MARKET

By Products and Services - Fleet manager, Wireless and cellular modules, Original equipment manufacturer (OEM) services, Sensors, Processors, and Aftermarket services
By Technology - 4G/LTE, 3G, and 2G
By Application - Navigation, Infotainment, and Telematics
By Connectivity - Integrated, Embedded, and Tethered

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This release was published on openPR.