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DALLAS, Texas, March 14, 2013 /PRNewswire/ --
According to a new market research report "Connected Car Market (2013-2018): By Connectivity Technology (LTE, Wi-Fi, 3G, HSPA); Form Factor (Tethered, Embedded, Integrated); Product and Service (OEM and Aftermarket), Application (Navigation, Telematics, Infotainment) and Geography" published by MarketsandMarkets the total market is expected to reach total shipments of 59.86 million units by 2018, growing at an estimated CAGR of 41.2% from 2013 to 2018.
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Thanks to the rapid technological advancements in network and mobile technology such as LTE, Wi-Fi, providing Internet in car has caught up as an emerging trend in the automotive industry. Connectivity in car is increasingly becoming a must-have feature and key driver to the industry. Consumers' demands and mandates (both - existing and expected) are the prime drivers. Most of the major economies have already introduced one mandate or the other such as eCall in Europe and GLONASS in Russia. No wonder most of the industry experts opine that the connected car is all set to be the next big thing in the automotive industry. Future generations will rely more on cloud-based backend systems for content, information, and services. This turning of car into a huge data repository will open new avenues of business opportunities for service industries such as insurance and content providers such as Spotify (U.K.).
The major companies include General Motors (U.S.), BMW (Germany), Ford (U.S.), Audi (Germany), Diamler AG (Germany), Harman International (U.S.), TomTom (The Netherlands), Luxoft (Russia), Sierra Wireless (U.S.), Apple Inc (U.S.), AT&T (U.S.), Alcatel Lucent (U.S.), Verizon (U.S.), and China Mobile (China), Microsoft (U.S.), QNX Software (U.S.), Delphi Automotive (U.S.), and Intel Inc. (U.S.) among others.
This report describes the market trends, drivers, and challenges with respect to the connected car market and forecasts the market to 2018, based on connectivity technology, form factors, products and services, applications, and geography. This report covers geographies like the North America, Europe, APAC, and ROW (Rest of the World). North America is the largest geography in terms of connected car unit shipments and market revenue. APAC has been identified as the fastest growing region, with China leading the way. Europe and ROW also sound promising, with Brazil, Germany, and Russia providing impetus to the growth. The report profiles 26 promising players in the connected car market ecosystem.
The competitive landscape of the market presents a very interesting picture, where large number of small players has become a force to reckon with. The market is witnessing large scale collaboration and partnership across the value chain apart from numerous consortiums being formed.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
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