According to Technavio’s latest market research study, the global connected car market is expected to grow at a CAGR of more than 32% during the forecast period 2016 to 2020.
This report by Technavio provides an in-depth analysis of the global connected car market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application
|
APPLICATION |
MARKET SHARE 2015 (%) |
|
Infotainment |
40.46% |
|
Navigation |
34.85% |
|
Telematics |
24.69% |
Source: Technavio
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Global connected car market by infotainment system
The infotainment systems are used for news, weather, social networking, and audio/video streaming, resulting in the popularity of this device in the passenger car segment. The manufacturers in the automotive market are investing in developing a unique infotainment system for their models to sustain the competition in the market and to increase their profitability. In 2015, BMW unveiled a gesture recognition system that has touchscreen feature for their models and it has direct control interface for in-car infotainment system.
“Touchscreens, voice recognition, and handwriting recognition systems are becoming very popular in various car infotainment system. With the reduction of hardware prices, manufacturers will be able to integrate these systems in the mass vehicle segment. The vendors are also introducing systems with virtual 3-D images for navigation, infotainment, and other purposes. These developments will revolutionize the infotainment segment in the global connected car market,” says Neelam Barua, a lead analyst at Technavio for automotive electronics.
Global connected car market by navigation system
The increasing traffic congestion in metro cities is creating a need for alert about the forthcoming traffic jam, thereby resulting in the exponential demand for navigation system in the passenger car segment. The adoption of voice controlled navigation system is increasing worldwide, owing to its advantage for reducing driver distraction and promoting the sales of advanced devices in the market. The manufacturers are focusing on the development of applications for car parking, which will pave the way for advanced navigation features in cars with latitude and longitudinal positions during the forecast period.
Global connected car market by telematics systems
The growing adoption of a telematics system in APAC that include in-vehicle entertainment and information systems in mid-range vehicles have led to the increase in demand for telematics system in the region. The implementation of various programs and legislations such as e-Call, event data recorders, and satellite positioning is boosting the demand for telematics services in various passenger cars.
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The top vendors operating in the global connected car market are:
- Alpine Electronics
- BMW
- Delphi Automotive
- Ford Motor
- NXP Semiconductors
Other prominent vendors in the market include Audi, Bosch, Continental, Google, and Mercedes-Benz.
A more detailed analysis is available in the Technavio report titled, ‘Global Connected Car Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Connected Car M2M Connections and Services Market in the US 2016-2020
- Global Connected Car M2M Connections and Services Market 2016-2020
- Connected Car M2M Connections and Services Market in the UK 2016-2020
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