Connected Car Information Technology Services Market - 2019-2025
Information technology (IT) is the use of computers to store, retrieve, transmit, and manipulate data, or information, often in the context of a business or other enterprise and connected car information technology services is one kind of it used in connected cars.
The Connected Car Information Technology Services market is anticipated to register a CAGR of about 21.36%, during the forecast period (2019 – 2025).
- Connected Car Information Technology Servicess essentially assist in monitoring vehicles and drivers. These devices also update private automobile owners and fleet managers about their vehicles' performance, pertaining to fuel economy index, emissions, onboard diagnostics (OBD), vehicle maintenance, and recalls. Some devices also provide GPS tracking and real-time alerts.
- The major factors that are driving the market are the increasing occurrences of vehicle theft, and a robust spike in the number of road accidents, particularly due to unsafe driving habits, such as over-speeding, hard cornering, and unmanageably dense traffic, among others. Apart from the aforementioned drivers, vehicle connectivity has also gained traction, due to the preference of in-car Wi-Fi hotspots and data services, for providing infotainment facilities.
- Vehicle automation presents the most lucrative opportunity for Connected Car Information Technology Servicess, which provide the necessary (initial) inter- and intra-vehicle communication and response infrastructure, to facilitate autonomous capabilities.
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The following manufacturers are covered:AirbiquityCisco JasperCloudmadeCovisintEricssonGoogleHarmanInspurIotiumMicrosoft AzureSierra Wireless
Scope of the Report
The Connected Car Information Technology Services market has been segmented by end-user type, communication type, product type, and vehicle type.
Market segment by Type, the product can be split intoData StorageData RetrievalData TransmissionData Manipulation
Market segment by Application, split intoPassenger CarsCommercial Cars
Market segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South America
This report provides comprehensive analysis ofKey market segments and sub-segmentsEvolving market trends and dynamicsChanging supply and demand scenariosQuantifying market opportunities through market sizing and market forecastingTracking current trends/opportunities/challengesCompetitive insightsOpportunity mapping in terms of technological breakthroughs
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Key Market Trends
Increasing Incidence of Vehicle Theft and Road Accidents
The increasing incidences of vehicle theft is directing customers' attention to a surveillance system that can monitor their vehicle and send timely updates about its geographical location. According to the Federal Bureau of Investigation (FBI), 773,139 units of motor vehicles were stolen in 2017, when compared to 767,290 units, in 2016. Additionally, a surge in road accidents, due to unsafe driving habits are also prompting customers to adopt connectivity in their cars, to remain updated about on-board diagnostics, the performance of electronic control systems, etc.
According to NHTSA (National Highway Traffic Safety Administration), about 94% of the accidents occurring on the US roadways can be attributed to human choice or error, including drunken driving, speeding, and others.
Every year, approximately 1.3 million people die in road traffic accidents; a further 20-50 million are injured. Latest technologies, such as new safety devices, connected and autonomous vehicles, and intelligent transportation systems with their associated infrastructure and systems are likely to improve and reduce road accidents. Vehicle manufacturers, governments, and international safety organizations, are all working to achieve this goal, and are heavily reliant on international safety standards. According to the US Department of Transport, V2V communication could prevent up to 80% of accidents that don't involve drunken driving or mechanical failure.
Europe and North America - Dominating the Market
The European and North American regions are expected to dominate the Connected Car Information Technology Services market, followed by Asia-Pacific.
The United States is considered to be a pioneer, in terms of vehicle connectivity. The US Transportation Department has taken a new initiative to accelerate the deployment of vehicle to vehicle (V2V) communications technology. This new proposal is expected to be mandatory by 2023. Additionally, the demand for smart solutions in the fields of mobility, vehicle management, safety, and driver assistance, has been continually increasing in the country over the past few years, and integration of these cutting-edge technologies has been one of the crucial parameters for customers in purchasing new vehicles.
In the EU, the European parliament implemented the regulation, mandating e-call systems in vehicles that ensures the passenger's safety, and it has been estimated that it will save more than 2,500 lives on the road. These initiatives and favorable regulations increase the number of connected vehicles on roads, which further create a huge demand for connected vehicle services and connected vehicle devices.
In the Asia-Pacific region, China leads the market for Connected Car Information Technology Servicess, followed by Japan. The demand for embedded connectivity in vehicles from the consumers and the shift toward connected vehicles has expanded the market for Connected Car Information Technology Servicess in the country.
Some of the key players of the Connected Car Information Technology Services market are Continental AG, Robert Bosch GmbH, Denso Corporation, Autoliv, Autotalks, and Valeo SA among others. The companies are making partnerships for developing more advanced technology, and for being ahead in the competition. For instance; Bosch and Mojio unveiled a jointly developed, IoT integrated emergency response solution. The new offering adds crash detection and emergency call (eCall) response to an existing connected car solution from Mojio.
In January 2019, Valeo and Autotalks showcased V2X capabilities integrated with Telematics at CES 2019 event. The V2X technology will increase safety by extending the perception of the car for better anticipation of the potential road dangers. It is also key technologies in the move toward cooperative driving, and to globally optimize Smart City traffic flow and services.
Customization of the Report
- Value chain analysis
- Consumer behavior analysis at country level
The report includes six parts, dealing with:1.) basic information;2.) the Asia Connected Car Information Technology Services Speaker Market;3.) the North American Connected Car Information Technology Services Speaker Market;4.) the European Connected Car Information Technology Services Speaker Market;5.) market entry and investment feasibility;6.) the report conclusion.
Table of Content:
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
11 Company Profiles
12 Future Forecast
13 Market Opportunities, Challenges, Risks and Influences Factors Analysis
14 Value Chain and Sales Channels Analysis
15 Research Findings and Conclusion
The key insights of The report Research:
1.The report Research provides key statistics on the market status of the Connected Car Information Technology Services manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.2.The report Research provides a basic overview of the industry including its definition, applications and manufacturing technology.3.The report Research presents the company profile, product specifications, capacity, production value, and 2019-2018 market shares for key vendors.4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.5.The report Research estimates 2019-2025 market development trends of Connected Car Information Technology Services industry.6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out7.The report Research makes some important proposals for a new project of Connected Car Information Technology Services Industry before evaluating its feasibility.
Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis* Market dynamics scenario, along with growth opportunities of the market in the years to come* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players* 1-year analyst support, along with the data support in excel format.
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