Connected Cars
The Connected Cars is forecast to fast-growing over the next four years. According to the World Knowledge Information (WKI) “Global Connected Cars market insight 2021, forecast to 2026”, due to the continuous development of the Internet of Things, consumers are increasingly trusting this technology. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 15.91% base on WKI regression analysis model.
Analysts’ Viewpoint：
“Deep learning machines are taking over a large portion of drivers’ automotive tasks and will completely take over driving in 10 years. “said Ciel, Senior analyst, Consumer Goods Market Research Center in WKI.” Breakthroughs in navigation, infotainment, diagnostics, safety and autonomous driving are emerging from the latest connected car intellectual property that builds on these deep learning systems. This means safer and more efficient travel for consumers.”
Market insight:
Some countries spend 3% of their GDP towards road accidents and approximately 1.35 million road traffic accidents are converted into fatalities, according to WHO. Connected cars are equipped with internet generally smartphones and can hence transmit real-time data to devices both inside and outside the vehicle, consequently diverting and enhancing processes such as navigation, system diagnosis and safety towards automation. With the popularity of connected cars, the number of traffic accidents will be greatly reduced. The addition of the Internet of Things technology makes the car full of a sense of science and technology, which provides a new sense of driving experience while ensuring the safety of consumers. Security breaches pertaining to internet connectivity which was a major challenge for the connected cars manufacturers is being sidelined by developing cybersecurity technologies consisting of intrusion detection and protection software. Such assurance in term of security diminishing hacking and system failure has elevated the consumer’s preference towards connected cars positively influencing the market.
Competition Landscape:
This report provides a detailed analysis of several leading automotive connected car platform market vendors that include Airbiquity Inc., Altran Technologies, AT&T Inc., Cisco Systems Inc., CloudMade, LG Electronics Inc., Microsoft Corp., Qualcomm Inc., Robert Bosch GmbH, and TomTom International BV. For instance, in 2020, all Volkswagen Golf and Polo will be integrated with Microsoft’s Azure cloud are working on the IoT Edge platform, the Automotive Cloud, which will provide drivers advanced connected vehicles. In 2020, General Motors and Enterprise Holdings Partners including, National Car Rental, Enterprise Rent-A-Car and Alamo Rent A Car went under a contract where GM will support Enterprise in adding more than 100,000 connected cars to the rental car company’s convoy over the next 1 year.
Segmentation of Connected Cars Market:
The Connected Cars Market is segmented by technology type (Navigation, Entertainment, Safety, Vehicle Management, Others), by connectivity (Integrated, Embedded, Tethered), by vehicle connectivity (V2Vehicle, V2Infrastructure, V2X), by End-user Type (OEM and Aftermarket)
Connected Cars Market: Regional Analysis:
Geography’s global e-commerce logistics market has been subdivided into: North America, Asia Pacific, Europe, South America and Central Africa. Connected cars is an evolving universal sensation, and North America being a technology-innovating advanced settlement. The United States as the world’s first Powerful countries are also in a leading position in this field.
Cagr:15.91%
Largest share area：South America
Largest share country：USA