This market research report segments the global connected car M2M market by application type (navigation, security tracking, insurance, shared car management, vehicle platform, entertainment and web access and emergency services), by services (safety and security, driver assistance, infotainment, on-drive management, vehicle management and other services) and by geography (Americas, EMEA and APAC. The report provides a market share analysis of the leading companies in the market such as BMW, Chrysler, Ford, GM, Honda, Hyundai, Jaguar/Land Rover, Kia, Mazda, Mercedes-Benz, Nissan, Subaru, Toyota, Volkswagen and Volvo.
Technavio’s market research analysts estimate the global connected car M2M services market to grow at a CAGR of 31% between 2016 and 2020. Growing need for safety and security in vehicles isa major reason propelling the demand for connected M2M cars. Owing to the availability of high-speed networks in developing regions, several automobile manufacturers are focusing to provide connected cars with in-built driver assistance services in volume-driven regions such as China, India, and Indonesia. The Americas lead the global market for connected M2M cars, accounting for 55% of the total market share. Availability of high-speed wireless networks, increased demand for in-car infotainment services, and high investments are major factors boosting the growth of the market in this region.
The new market research report from Technavio provides a breakdown and analysis of the connected M2M2 cars segments by technology.
“Manufacturers such as Verizon are upgrading older cars with facilities such as internet, vehicle monitoring, roadside assistance, and other services at minimal expenses. Verizon’s connected car services offer accident notification, easy access to customer-care agents, parking services, stolen vehicle location assistance, and predictive diagnostics for vehicles. Vendors are also incorporating V2X technology in connected cares, enabling faster and efficient driving, and collision-free safety systems for autonomous driving,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
The safety and security segment dominate the connected car M2M market, accounting for almost 35% of the total market share. Every car comes with in-built safety and security features, such as V2V communication technology. Technavio’s market research analysts estimate that APAC will show significant growth in this segment as the automobile manufacturers are launching low-cost hatchbacks and sedans.
The key players in the global connected car M2M market are BMW, Chrysler, Ford, GM, Honda, Hyundai, Jaguar/Land Rover, Kia, Mazda, Mercedes-Benz, Nissan, Subaru, Toyota, Volkswagen and Volvo. This market is highly fragmented due to the presence of many international, regional, and local vendors. The stakeholders in this market include automotive OEMs, M2M module providers, telecom operators, automotive software providers, automotive infotainment content providers, data analytics providers, and government organizations. Competition in this market is expected to intensify over the next four years, thanks to the entry of telecommunications companies, telematics providers, automobile companies, chip makers, and technology providers.
A more detailed analysis is available in the Technavio report, Global Connected Car M2M Market 2016-2020.
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