Dublin, Dec. 4, 2014 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/756n4q/global_connected) has announced the addition of the "Global Connected Car Market (Technology, Connectivity Solutions, Product and services, Applications and Geography) - Size, Share, Global Trends, Company Profiles, Analysis, Segmentation and Forecast, 2013 - 2020" report to their offering.
Connected cars facilitate connectivity on wheels offering comfort, convenience, performance, safety and security combined with powerful network technology. This enables the driver to connect with online platforms and facilitates real-time communication on the go. Rising consumer demands, the need for constant connectivity, increased dependency on technology and the growing number of tech savvy people account for the growth of this market. Over time, various connectivity solutions have been developed by the car manufacturers and service providers such as the Machine-to-Machine (M2M) connectivity platform. This M2M feature in a car enables interconnectivity between two connected cars. Numerous sensors and processors located in the car provide accurate and real-time information to the driver.
The connected car market is expected to generate a revenue of $141 Billion by 2020. Advanced infotainment systems and a fast connection to the wireless network are the two prominent features that potentially enhance the market growth. Technology agreements and collaborations are the key strategies adopted by the market players to enhance their market share. For instance, AT&T is working with automotive manufacturers to provide contextual voice controls, which would help to create a safer driving experience. TomTom has launched the online turn-by-turn navigation service for customers, making it feasible to connect over a network.
Based on connectivity technology, the global connected car market is segmented into 2G, 3G and 4G/LTE. The 2G service used for providing connectivity will gradually fade out in the next few years, which would be replaced by LTE and 3G technology. Some of the prime reasons for this technological shift should be the rapidly changing telecommunication technology and the advent of faster & reliable communication networks.
On the basis of connectivity solutions, the connected car market is segmented into integrated, embedded and tethered solutions. In 2013, embedded connectivity solution lead the market with almost 40% of the global connected cars market share, followed by integrated and tethered connectivity. However, this scenario could change in 2020, as integrated solutions are expected to occupy approximately 45% of the market share. The reason for this drastic change can be attributed to the consumer's freedom of choice in customizing their connectivity devices and data plans.
Navigation, telematics and infotainment are the major applications of connected cars market. Based on the analysis, navigation should be the fastest growing market during the forecast period. This growth trend observed in the navigation segment is majorly due to the large scale adoption of this service into the connected cars.
Key Topics Covered:
CHAPTER 1 INTRODUCTION
CHAPTER 2 EXECUTIVE SUMMARY
CHAPTER 3 MARKET OVERVIEW
CHAPTER 4 GLOBAL CONNECTED CARS MARKET BY, TECHNOLOGY
CHAPTER 5 GLOBAL CONNECTED CARS MARKET, BY CONNECTIVITY SOLUTIONS
CHAPTER 6 GLOBAL CONNECTED CARS MARKET, BY APPLICATIONS
CHAPTER 7 GLOBAL CONNECTED CARS MARKET, BY PRODUCTS & SERVICES
CHAPTER 8 GLOBAL CONNECTED CARS MARKET, BY GEOGRAPHY
CHAPTER 9 COMPANY PROFILE
- Ford Motors Co.
- Vodafone Group Plc
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Source:Research and Markets