Global Connected Cars Market size is set to exceed USD 153.60 billion by 2020

Oct, 11 2019 | ICT & Media

 

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 the enormous potential the market holds.

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. AMR’s Analyst said the market revenue is estimated to reach $153.60 billion by 2020,”


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 an 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 government regulations such as the mandate of eCall will drive more investments into the market.

In the next forecasted years, connected cars market will see innovative revenue models and the evolution of standardized platforms. This would considerably increase security measures, reduce the cost of connected cars. – Ample Market Research

Some of the major market players include Apple, Google, IBM, GM OnStar, Daimler, Ford, QNX.

Browse key industry insights spread across 100 pages with market data tables &  figures & charts from the report, “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” in detail along with the table of contents:https://www.amplemarketreports.com/report/global-connected-cars-market-497386.html