The research study conducted by Report Ocean on the “ Connected Vehicle Market” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Connected vehicles are a division of automobiles that are equipped with internet connectivity and communicate with other devices and networks. This communication is usually done through a range of technologies, such as Wi-Fi, cellular networks, and dedicated short-range communications (DSRC). Furthermore, connected vehicles are gaining significant momentum among a wide consumer base due to their ability to reduce traffic accidents, improved traffic flow, and more convenient travel, thereby improving safety and convenience. In addition, connected vehicles are quite a relatively new technology, and it continues to develop by means of significant revolution and technological advancements, which is expected to drive the market growth prospect. Increasing demand for safety features in vehicles, along with the rise in trend of autonomous driving further propels the expansion of the connected vehicle market across the globe.
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In addition, favorable government regulations and initiatives, coupled with the increase in collaboration between OEMs and service providers is further fueling the market demand. Governments around the world are considering implementing regulations and protocols to promote connected vehicle technology. These regulations often emphasize on enhancing road safety, minimizing emissions, and raising traffic management. Incentives and mandates provided by governments further encourage manufacturers and consumers to deploy connected vehicle solutions. For instance, the National Highway Traffic Safety Administration (NHTSA) in the U.S. establishes Federal Motor Vehicle Safety Standards (FMVSS) regulations that govern the safety aspects of connected vehicles. Similarly, Japan has been at the forefront of ITS initiatives, implementing various policies such as the “ITS Green Initiative” and “Connected Car Deployment Promotion Consortium,” to encourage the use of connected vehicles. These regulations aim to address concerns related to safety, data privacy, cybersecurity, and interoperability. The Chinese government is emphasizing electric mobility as well as ADAS elements in advanced vehicle technology. The leading automakers in the country are expanding their portfolio with the introduction of the new level 2 and level 3 ADAS features. For instance, in May 2021, the new Chitu small SUV was introduced by the HAVAL brand of Great Wall Motor Co. Ltd. It is powered by a 1.5L turbocharged engine with a 7-speed wet dual-clutch gearbox, producing a maximum of 135kW and 275Nm of peak torque. A Level 2 ADAS system is also present in the car, with different features depending on the version. Consequentially, government regulations and initiatives to encourage the adoption of connected vehicle is directly associated with the growth of the global market. Moreover, the growing ecosystem of connected services, as well as the rising integration of advanced safety and comfort features in vehicles, such as advanced driver assistance systems (ADAS) present various lucrative opportunities over the forecasting years. However, the high implementation cost and lack of adequate infrastructure for the proper functioning of connected vehicles are hindering market growth over the forecast period of 2023-2030.
The key regions considered for the Global Connected Vehicle Market study include: Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific leading the market in 2022 owing to the increasing vehicle safety and security norms, growing demand for vehicle-to-vehicle (V2V) connectivity, and rising focus on environmental concerns and emission reduction costs. Whereas, Asia Pacific is also projected to increase with the highest growth rate over the forecasting period. Factors such as the rising integration of 5G in vehicle models, along with rising government support and initiatives to promote the installation of connected vehicle technology are bolstering the market growth in the anticipated years.
Major market players included in this report are:
Robert Bosch GmbH
Continental AG
Denso Corporation
Visteon Corporation
Harman International
AT&T Inc.
Airbiquity Inc.
Qualcomm Technologies Inc.
Sierra Wireless
Infineon Technologies
Recent Developments in the Market:
In February 2022, Qualcomm Technologies, Inc. unveiled a new Snapdragon Digital Chassis for connected vehicle platform to support the development and delivery of new cloud-connected digital services to meet the rising demand for premium driving experiences and connected in-vehicle services. This new innovation support integrated analytics, global connectivity, and on-device and cloud-enhanced apps/services.
In April 2023, Continental AG expanded its digital access system CoSmA by a Child-Presence-Detection function (CPD) that can offer improved passenger safety and trigger warning the children left-behind inside the vehicles. The CPD function also addresses the needs for vehicle manufacturers to satisfy in- cabin safety objectives in consideration of the impending Euro NCAP safety rating and US legislation, which will in turn drive for new child safety criteria in the car by 2025.
Global Connected Vehicle Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Technology Type, Connectivity, Vehicle Connectivity, Application, Vehicle, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Technology Type:
4G/LTE
3G
2G
By Connectivity:
Integrated
Embedded
Tethered
By Vehicle Connectivity:
Vehicle to Vehicle (V2V)
Vehicle to Infrastructure (V2I)
Vehicle to Pedestrian (V2P)
By Application:
Driver Assistance
Telematics
Infotainment
Others
By Vehicle:
Passenger cars
Commercial Vehicle
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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