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Vehicle Connectivity Market By Service Type, By Component, By Product Type, By Vehicle Type, 2016-2027

Vehicle Connectivity Market

Vehicle Connectivity Market

Reports and Data

Reports and Data

Vehicle connectivity is a combination of components that establish communication with other devices within and outside a vehicle.

NEW YORK CITY, NEW YORK, UNITED STATES, March 16, 2020 /EINPresswire.com/ -- Market Summary

Vehicle connectivity is a combination of components that establish communication with other devices within and outside a vehicle. It enables the automotive to stay connected with the internet, thus providing real-time communication to the driver. Growing connectivity solutions, awareness, and adaptability for a safer, convenient, and comfortable lifestyle is driving the growth of the market for vehicle connectivity.

Increasing demand for telematics in automotive is a significant factor fuelling the market demand. Telematics provides the potential for Vehicle-to-Vehicle (V2V) connectivity, among other connectivity solutions, such as V2I, and V2P, with increasing application in the areas of navigation, remote tracking, entertainment, and safety alert, among others. Telematics plays an instrumental role in the efficient performance of the commercial vehicle fleet management systems and logistic systems. Escalating demand for connected vehicles for commercial purposes is estimated to drive the demand for commercial vehicle telematics market. Rising demand for refrigerated vehicles by the transportations and logistics industry is attributed to the growth of the cold-chain market, which in turn is likely to boost the market demand.

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The safety and security services of vehicle connectivity comprise the automatic crash notification, emergency, and medical assistance, which is anticipated to stimulate market growth in the forecast period. As a component of the Automatic Crash Notification service, the telematics control unit (TCU) monitors several crash sensors of the automotive and in the occurrence of a crash it directs the details of the vehicular location and crash intensity as well as sends a voice call to the telematics call center so that emergency services dispatched to the accident spot.

Legislation for road safety, security, and tracking of vehicles across the world is expected to propel the market demand in the forecast period. For example, in April 2018, the Government of India passed a regulation stating that all commercial vehicles meant for public transport with seating capacity over six should have GPS tracking devices installed in them.

According to a study in 2020, Indian car buyers held the top spot when it comes to the increasing demand for vehicle connectivity, and it has been found that around 80.0% of Indian customers consider vehicle connectivity to be beneficial in the years to come.

Reliance Jio Infocomm Ltd, in February 2020, displayed its connected car technologies at the auto expo. The move would enable India’s one of the largest telecom operator by users to portray itself as an Internet of Things (IoT) solutions provider instead of being just a telecom company.

The rising integration and swing in emphasis connectivity technology supports the software-defined, autonomous cars in the upcoming years. Additionally, the vehicle connectivity market is likely to witness stiff competition from both open source and proprietary solution providers.

One of the significant trends that is recently gaining traction is brain-to-vehicle technology, which uses a device to gradually measure brain wave activity, which is then analyzed by the autonomous automotive systems to predict and finally predict driver behaviors. B2V technology requires the usage of a headset dotted with electrodes, and hence it may not be suitable for everyone. Nevertheless, B2V application may help drivers avoid road mishaps caused by sudden lane changes and various other unsafe driving practices.

By service type, safety & security held the largest market share in 2018. These are the primary services provided utilizing telematics as well as the main driving factor responsible for the conceptualization of vehicular connectivity.

By product type, embedded vehicle connectivity solutions is projected to grow at the fastest rate in the forecast period.

By vehicle type, the passenger vehicle segment dominated the market in 2018 owing to the increasing demand for telematics in personal vehicles, especially for safety and security features.

Hardware dominated the vehicle telematics market in 2018 and is projected to maintain its market dominance in the forecast period.

The market in the North America region contributed to the largest market share in 2018, whereas Europe occupied the second-spot, in term market size.

Key players in the market involve Continental, Bosch, Visteon, OnStar Corporation LLC., ETAS Group, Agero Inc., WebTech Wireless Inc., Qualcomm Inc., Tesla, Ford Motor Company, DigiCore Holdings Ltd., Wireless Matrix Corporation, Trimble Transport & Logistics, and Minda Corporation Ltd. among others.

Players in the market are making considerable investments in R&D activities to provide a better driving experience to the driver as well as engaging in strategic alliances to increase their market share.

In January 2018, Trimble Inc. entered into a partnership with CalAmp, which will supply customized systems management technology and telematics tracking devices for Trimble\'s Field Service Management (FSM) vehicle and asset monitoring solutions.

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Segments Covered in the report:

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Reports and Data have segmented the global vehicle connectivity market on the basis of service type, component type, product type, vehicle type, sales, and region:

Service Type Outlook (Revenue, USD Million; 2016-2027)

• Fleet Tracking & Monitoring
• Safety & Security
• Driver Management
• Insurance Telematics
• Entertainment
• Diagnostics
• Others

Component Type Outlook (Revenue, USD Million; 2016-2027)

• Hardware
• Software

Product Type Outlook (Revenue, USD Million; 2016-2027)

• Retrofitted
• Embedded

Vehicle Type Outlook (Revenue, USD Million; 2016-2027)

• Passenger Vehicle
• Commercial Vehicle

Sales Outlook (Revenue, USD Million; 2016-2027)

• OEM
• Aftermarket

Regional Outlook (Revenue, USD Million; 2016-2027)

• North America
o U.S
• Europe
o U.K
o France
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
• MEA

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