New York, NY -- (SBWire) -- 03/05/2020 --Connected vehicle or connected car is connected with internet (generally wireless), allowing the vehicle to share the internet access with other devices in the car. In short, a connected vehicle can communicate the devices inside and outside. Despite a normal car, already being connected with several devices, a connected vehicle can control wide range of essential functions. For instance, a traffic monitoring feature in your car can signal you in case of heavy traffic and alert beforehand for choosing other alternate route.
According to the Centers for Disease Control, vehicle crashes are the leading cause of death among young children and adults. Connected vehicles can decrease the number of serious injuries and deaths caused by accidents on roads as connected vehicles are equipped with various safety features, which can reduce the number of accidents. For instance, according to the NHTSA (National Highway Traffic Safety Administration), connected vehicles have the potential to reduce vehicle crashes by approximately 80 percent. Hence, many regional governments have been taking initiatives to promote connected vehicle technology. For instance, The US Department of Transportation's (USDOT's) is a connected vehicle program engaged in working with local transportation agencies, state transportation agencies, and vehicle OEMs, and device makers to promote connected vehicle technology. Such government initiatives have been driving the overall market growth.
Major Key Players of the Connected Vehicle Market are:
BMW, AUDI AG, Tesla, Volkswagen AG, AB Volvo, OnStar (General Motors), Nissan Motor Co., Ltd., Toyota Motor Corporation, Hyundai Motor Company, and Honda Motor Co., Ltd., among others.
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Connected vehicles provide various services/features, such as remote diagnostics, multimedia streaming, access to social media & other apps, on-road assistance, autopilot, e-call & SOS assistance, cyber security, and a wide range of other safety features. These services/features are considered as major factors that will boost market growth. Continuous product launches and developments by key market players have also been supplementing market growth. For instance, Audi AG is planning to launch 5G-connected car technology (5G technology can provide high internet speeds which further increase operational speeds) with Chinese technology giant Huawei.
Although the connected vehicle market offers immense growth opportunities, the market faces several challenges including deployment challenges for V2V technologies, high privacy concerns, lack of infrastructure in many geographical regions, and others. The by technology segment can be classified into vehicle to infrastructure, vehicle to vehicle, vehicle to cloud, vehicle to pedestrian, and vehicle to everything. The vehicle to infrastructure sub-segment accounted for the highest market share due to increased demand for infotainment including music/audio, voice commands, hands-free controls, 4G Wi-Fi hotspots, contextual help, and others.
Major Types of Connected Vehicle Market covered are:
Tethered
Embedded
Integrated
Major Applications of Connected Vehicle Market covered are:
Vehicle to Infrastructure
Vehicle to Vehicle
Vehicle to Cloud
Vehicle to Pedestrian, and Vehicle to Everything
Research objectives:-
– To study and analyze the global Connected Vehicle consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Connected Vehicle market by identifying its various sub-segments.
– Focuses on the key global Connected Vehicle manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Connected Vehicle with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Connected Vehicle Market Size
2.2 Connected Vehicle Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Connected Vehicle Market Size by Manufacturers
3.2 Connected Vehicle Key Players Head office and Area Served
3.3 Key Players Connected Vehicle Product/Solution/Service
3.4 Date of Enter into Connected Vehicle Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Connected Vehicle Sales by Product
4.2 Global Connected Vehicle Revenue by Product
4.3 Connected Vehicle Price by Product
5 Breakdown Data by End User
5.1 Overview
5.2 Global Connected Vehicle Breakdown Data by End User
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In the end, Connected Vehicle industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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Connected Vehicle Market to Witness Huge Growth from 2019-2030 and Focusing on Top Key Players - BMW, AUDI, Tesla, Volkswagen
Market Industry Reports (MIR) has announced the addition of the “Global Connected Vehicle Market Research Report 2019-2030” The report focuses on global major leading industry players with information such as company profiles, product picture and specification.