New York, April 19: Market Research Engine has published a new report titled as “Global Connected Cars Market, By Technology (2G, 3G, 4G, GNSS), By Connectivity (Embedded, Integrated, Tethered), By Applications (Location Based, Infotainment & HMI, Safety & Security, Convenience, Driver Assistance), By Regions – Trends & Forecast: 2015–2020”
The connected car, which
once was a concept and limited to science fiction movies, is a reality today.
Cars are extremely well connected these days and with extensive embedded
hardware components combined with smart connectivity capabilities use an array
of protocols to deliver key electronic, monitoring and diagnostic functions. It
is now the hottest market where everybody is trying to be a part of it
considering enormous potential the market holds.
The market revenue is
estimated to reach $153.60 billion by 2020,” The connected cars market is
growing rapidly with the CAGR of 33.38% during the period 2015-2020. The market
is growing due to increase in safety reasons and need for driver assistance.
Browse
Full Report: http://www.marketresearchengine.com/reportdetails/global-connected-cars-market
The global
connected car market is a very fragmented market and it is in a growing
stage, where many stakeholders of the eco-system are forging strategic
collaborations to create connected car solutions.
The global connected car
applications market is divided into Location Based Applications, Infotainment
& HMI, Safety & Security, Convenience, Driver Assistance, and Others.
Safety & Security application contributes the most to the applications
market. Government initiatives and customers are concerned about overall
safety, and accident is the major driving force behind customers adopting cars
enabled with connectivity.
The global connected car
regions market is divided into North America, Western Europe, Asia-Pacific,
Central Eastern Europe (CEE), Middle East & Africa and Latin America. North
America has the most matured connected market owing to its extensive
infrastructure and the number of companies investing in the market. Western
Europe, now, is the second hottest market for connected cars as the government
regulations such as mandate of eCall will drive more investments into the
market.
In the next forecasted
years, connected cars market will see innovative revenue models and evolution
of standardized platforms. This would considerably increase security measures;
reduce cost of the connected cars.
The report provides unique
insights into an in-depth analysis of global connected cars market, drivers and
restraints as well as growth opportunities. It also contains analysis and
forecast revenues, competitive landscape, company profiles and industry trends.
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