openPR Logo
Press release

Europe Connected Cars Market Report 2014-2020

10-14-2016 08:27 AM CET | IT, New Media & Software

Press release from: Future Market Insights

Connected cars are considered to be the future of automobile industry. In addition to wireless LAN devices, connected cars have active safety solutions and automated driver assistance systems. Enabling car owners to connect with all the connectivity devices that are inside and in the vicinity of cars, connected cars also assure to maintain safe distance between cars on roads.

These cars also allow drivers to mechanically monitor cars’ performance and physical condition. The connected car technology can also be used to connect to cars through smartphones or other mobile devices.

Research indicates that the market for connected cars, after 2010, has been growing in a nascent stage each year. Providing a wide range of opportunities to automotive and telecom industries, as well as consumers, the market is anticipated to gain mass penetration and witness substantial growth in the near future.

Europe, which is currently the second largest market for connected cars, is estimated to outpace North America and create the largest market by 2020 end. Rising demand for vehicle safety and security will continue to be a key driver for market growth.

Europe Connected Cars Market: Key Drivers

Increasing demand for electric vehicles from European consumers is playing a crucial role in boosting the market for connected cars. Moreover, the market is predicted to gain traction due to widespread adoption of mobile and wireless technologies.

Some governments within EU are introducing various regulations and initiatives regarding vehicles safety, which could be a favourable move for connected car manufacturers and dealers. In addition, availability of advanced telecom and road infrastructure will also continue to fuel the European market for connected cars.

Request Free Report Sample@

Key Restraints

While the connected car technology and smartphone technology are conjoint in this industry, the difference in their lifecycles is significant. Car development is a five-year cycle but the smartphone is developed within a much shorter time span. This is expected to act as a major restraint for connected cars in tandem with smartphone technology.

Moreover, car manufacturers will need long-term, compatible mobile partners, which is currently a challenge.

A recent survey concluded that many consumers from the U.K., Netherlands, Germany, France, Sweden, Spain, and Italy are concerned about the lack of standards across connected car manufacturers. This is anticipated to be a major barrier in the market.

Research reflects significant reluctance among consumers about data privacy and digital safety. A sizeable consumer population still prefers to personalise their cars’ web connection via smartphones’ USB or Bluetooth, rather than buying a connected car with built-in options. This is another factor that could be a major roadblock to market.

Furthermore, many people are not yet ready to pay separately for embedded car connection, which is foreseen to be a setback for the market in Europe.

Segmentation: Europe Connected Cars Market

FMI’s research on the European market for connected cars provides a six-year forecast, segmenting the market on the basis of technology, hardware, service, and application.

On the basis of technology, the market is segmented into long-term evolution (LTE), Wi-Fi, High Speed Packet Access (HSPA), and others.

The hardware segment is further segmented as processor, sensor, CPU, memory device, and wireless and cellular module.

Based on the service, the market is segmented into original equipment manufacturers (OEMs) services, connected services, after-market services, and other services (e.g. safety services).

According to the application, the market is segmented as telematics, navigation, safety and security, infotainment, and communications. However, the safety and security segment is expected to outperform all the segments, followed by infotainment, which is said to record the fastest growth in the European connected cars market.

Europe Estimated to Surpass the Current Market Leader, North America

The EU has always been highly supportive in promoting the connected car technology. The European CEN and ETSI have set certain standards for cooperative intelligence transport systems (ITS), as per the demand from the European Commission for safer, more efficient, and more sustainable transport. The latest standards make it mandatory for manufacturers to equip each car model with a GPS system and 3G/4G connectivity. Moreover, the technology is expected to interconnect drivers with automakers, dealers, and auto repair shops. This has been a major breakthrough for the connected cars market in Europe.

Request For TOC@

Influential Trends in the Connected Cars Market

Complete smartphone integration, teen drivers’ monitoring, digital dashboards, GPS navigation systems with travel guidance, and self-driving (driverless cars) technology are the most notable trends in the connected cars industry, in Europe and globally.

In the recent past, Volvo has launched a corporate initiative, according to which self-driving cars and autonomous driving features will be in market in the near future. The company’s Drive Me Project in 2017 also featured 100 self-driving Volvos on public roads.

Key Players: European Connected Cars Market

Key players in the European connected cars market include Apple, Inc., Airbiquity, Inc., BayerischeMotorenWerke AG (BMW), Delphi Automotive LLP, Ford Motor Company, Microsoft Corporation, TATA Consultancy Services Ltd., Toyota Motors Corp., Verizon Communications, Inc., and AT&T, Inc.

Major car manufacturers have already started taking efforts toward smartphone integration to cater to connectivity demand from consumers. Since several companies from telecom and software verticals are rapidly entering the connected cars market, OEMs are expected to concentrate on strengthening their hold in the market.

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Europe Connected Cars Market Report 2014-2020 here

News-ID: 372491 • Views: 605

More Releases from Future Market Insights

Hormone Replacement Therapy Market COVID-19 Impact and Global Analysis by Produc …
Hormone Replacement Therapy is any form of hormone therapy where in the patient, in course of medical treatment, receives hormones, either to supplement a lack of naturally occurring hormones, or to substitute other hormones for naturally occurring hormones. Menopause, is the time in most women's lives when menstrual periods stop permanently, and the woman is no longer able to have children. Menopause typically occurs between 45 and 55 years of age.
Critical Care Information Systems Market Key Players- Affiliated Computer Servic …
Critical care information systems are used to help manage the large amount of data generated in an intensive care unit every day. Obtaining, synchronizing, assimilating, and evaluating patient data is very difficult because of incompatibilities among monitoring equipment, the absence of standard data formatting and proprietary limitations from industry. The intensive care units are a specialized section of a hospital containing the equipment, medical and nursing staff, monitoring and life
Paper Cores Demand Catalyzes amid High Emphasis on Circular Economy: FMI Study
The global packaging industry has made remarkable progress in recent years, with numerous innovations and technological advances prioritized. Particular emphasis is placed on ensuring sustainability and the spread of the circular economy. Reliable benefits have been obtained in reducing the generation of municipal solid waste. Future Market Insights is a recently published research report that incorporates historical analysis from 2015 to 2019 and future assessments from 2020 to 2030 to
Endometrial Cancer Treatment Market Key Players- R-Pharm-US LLC., Bristol-Myers …
Endometrial cancer or uterine cancer is one of the most common gynecological cancers and 2.8% of women are diagnosed with the endometrial cancer at some point in their lives. According to National Cancer Institute statistics, in 2015 endometrial cancer contributed to 1.8% of all cancers and 3.6% of all new cancer cases were diagnosed as endometrial cancer. Early detection of endometrial cancer helps in the selection of proper treatment options.

All 5 Releases

More Releases for Europe

Synthetic Biology Market – Europe
Synthetic Biology Market Europe is expected to reach USD XX Billion by 2026 from USD XX Billion in 2016 at a CAGR of XX% (Detailed analysis of the market CAGR is provided in the report). Synthetic biology has expanded into various interdisciplinary fields that may be defined as the combination of artificial design and engineering to produce biological systems, chemicals or living organisms. Synthetic biology is also used for improving applications
Europe Wooden Doors Market
Europe Wooden Doors Market This report studies the Wooden Doorsmarket status and outlook of Europe and major countries, from angles of players, countries, product types and end industries; this report analyzes the top players in Europe and major countries, and splits the Wooden Doors market by product type and applications/end industries. The global Wooden Doors market is valued at XX million USD in 2018 and is expected to reach XX million
Europe Radiotherapy Market
The Europe Radiotherapy Market research report consists of a primary and secondary research along with an in-depth analysis of the quantitative and qualitative aspects by the expert industry analysts and professionals, leading management bodies, to gain a profound insight of the industry as well as the industry performance. The Europe Radiotherapy Market report presents a lucid picture of the current industry landscape, including the historical and projected market size, based
Europe Business Assembly
The Europe Business Assembly (EBA) is an international corporation for the evolution and implementation of economic and social development. The company was established in April 2000 and its history shows a plethora of promising initiatives, creative growth and professional victories. EBA’s activity demonstrates the capabilities and power of professional partnership. The year 2000 saw the beginning and the foundation of EBA with the signing of the memorandum of cooperation and
Smartsourcing in Eastern Europe
In 2008 the outsourcing business of Eastern Europe was estimated at nearly $2 billion, representing just a tiny fraction of the global IT outsourcing market, estimated at about $386 billion. According to the Gartner Dataquest predictions, in the next four years Eastern Europe is expected to outstrip the rest of the offshore market concentrated mainly in the “classical” locations like India. By 2010 Eastern Europe’s IT outsourcing market share is
Home Control conquers Europe
European Home Control Summit attracts participation from leading International companies and organizations 29. February 2008 - Copenhagen/Frankfurt - The first European Wireless Home Control Summit on 9 April 2008, taking place parallel to Light + Building, features leading companies such as Merten, Horstmann, Danfoss, and market researcher Parks Associates as well as publicly funded organizations like the Danish Energy Saving Trust (DEST) presenting the newest trends, products and market strategies pertaining