Connected Car Devices Market - Communication Type, Segmented by End-user, Connectivity Type - 2021
The connected car devices market is expected to grow from USD 26.87 billion in 2017 to USD 57.15 billion by 2021, at a CAGR of 16.3% from 2016 to 2021. The connected car devices market is mainly driven by the legislations pertaining to vehicle safety, changing buyer preferences, increased demand for premium passenger cars, and electrification of vehicles across the globe. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
Browse 119 market data tables and 75 figures spread through 169 pages and in-depth TOC on "Connected Car Devices Market by Communication Type (V2V, V2I, V2P), Connectivity Type (DSRC, Cellular Network), Product Type (Das, Telematics), Vehicle Type (PC, LCV & HCV), Electric Vehicle Type (BEV, HEV, PHEV, FCV) and Region - Global Forecast to 2021"
Connected Car Devices Market Dynamics
Drivers
- Industry compliance and government laws supporting connectivity and telematics in automobiles
- Increasing penetration of telecommunication services in automotive industry
- Intense competition among connected car manufacturers
Restraints
- Privacy issues related to data generated by the vehicles
- Lack of infrastructure to support connectivity
Opportunities
- Opportunity for non-automotive players to enter the automotive industry
- Opportunity for development of new business models
Challenges
- To integrate the cost of connectivity into the cost of vehicles
- Threat to safety and security of passengers
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Major Developments in Connected Car Devices Market
- In November 2016, Continental Ag introduced a new product, multifunctional smart device terminal (MFST). It allows wireless charging of smartphone and operates a range of device functions in the vehicle safely and conveniently. MFST has been introduced in Mercedes-Benz E-Class sedan.
- In April 2017, Delphi automotive PLC acquires Movimento Inc. This development will help Delphi to provide Over-the-Air (OTA) upgrades to its software at any stage of the vehicle’s life cycle leading to increased efficiency of the vehicles connectivity system. This will also position Delphi as a leading end-to-end systems and software provider to the industry as vehicle connectivity becomes increasingly important.
- In November 2016, Denso has joined hands with Imagination Technologies to develop multithreaded CPU cores that enable a processor (CPU) to execute multiple processes concurrently. The multithreaded CPU's will help improve the efficiency of advanced electronic systems used in today’s car. This will help Denso to come up with more and more advanced safe and secure automotive technologies to strengthen its position in the automotive market. download the pdf brochure
Target Audience of Connected Car Devices Market
- Connected car devices manufacturers
- Automotive electronic system manufacturers
- Vehicle manufacturers
- Investment firms
- Equity research firms
- Private equity firms
Increasing penetration of telecommunication services in automotive industry drive the growth of reed sensor market1.
Vehicle to Vehicle
Vehicle-to-vehicle (V2V) is a technology that is designed to establish communication among automobiles. Vehicle-to-vehicle is a short range type of communication. This technology requires wireless transmission of data between vehicles. The main reason for the development of such technologies is to prevent accidents by allowing vehicles in transit to send position and speed data to one another over an ad-hoc mesh network.
Vehicle-to-Infrastructure
Vehicle-to-Infrastructure (V2I) is a technology that is designed to establish communication between vehicles and other entities such as roadside units, signs, and traffic lights. In V2I, the infrastructure plays a coordination role by gathering global or local information on traffic and road conditions and then suggesting or imposing certain behaviors on a group of vehicles. The basic components of a V2I communication system are On-Board Unit or Equipment (OBU or OBE), Roadside Unit or Equipment (RSU or RSE), and safe communication channel.
Vehicle-to-Pedestrian
Vehicle-to-Pedestrian (V2P) technology is used to establish communication between vehicles and pedestrians. This technology was developed to avoid the pedestrian fatalities. The V2P approach encompasses a broad set of road users including people walking, children being pushed in strollers, people using wheelchairs or other mobility devices, passengers embarking and disembarking buses and trains, and people riding bicycles. Most of the OEMs and Tier1 suppliers are working toward the development of such high-end technologies. Recently, Honda displayed its vehicle-to-pedestrian technology that will be implemented in its upcoming cars. Click Speak to Analyst
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