Growth prospects of the connected car M2M connections and services market in Western Europe and segmentation by service application type (driver assistance, safety and security, infotainment, vehicle management, on-drive management, and other services), and by usage type (OEM market and aftermarket). The report provides a market share analysis of the leading companies in the market such as Audi, BMW, Gemalto, General Motors (GM), and Deutsche TeleKom.
Technavio has released its new market research report, connected car M2M connections and services market in WE, which is expected to generate revenues of $34 billion between 2016 and 2020. Increased customer demand for advanced infotainment services is the primary growth driver for this market. The demand for the connected car is on the rise as it provides advanced infotainment services such as media streaming, personalized music streaming, social media and networking, and car Wi-Fi hotspot connectivity.
“Of late, there is growing use of analytics solutions for connected car M2M services, where automobile, technology, and big data analytics companies are entering into collaborations. They are entering into alliances to have a better understanding of vehicle performance and to easily connect with their customers to improve brand loyalty and efficiency. Also, manufacturers are deploying V2X technology in vehicles to communicate with any entity or infrastructure on the road and enables sending/receiving any relevant information needed in transit,” says Rakesh Panda Lead Analyst, ICT, Technavio Research.
The availability of high-speed Wi-Fi is another factor that is anticipated to drive the market growth during the forecast period. Due to the presence of 3G and LTE networks, telecom operators in Western European countries such as France, Germany, Spain, the UK, and Italy, can provide high-speed connectivity to connected car M2M users. Moreover, availability of high-speed networks is driving most car manufacturers, connected car M2M platform developers, and telecom operators to develop partnerships to launch LTE-based connected cars during the forecast period.
The leading vendors in the connected car M2M connections and services market in WE includes Audi, BMW, Gemalto, General Motors (GM), and Deutsche TeleKom. This market exhibits high market potential, hence it has encouraged many chip makers, telecommunication providers, telematics providers, automobile companies, and technology providers to enter the marketplace, which has led to increased competition in the market. As a result, vendors need to introduce innovative products to differentiate among each other and sustain in the market.
A more detailed analysis is available in the Technavio report, Connected Car M2M Connections and Services Market in WE 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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- Connected Car M2M Connection and Services Market in the US 2015-2019
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