The report “Connected Car Market, By Technology (2G, 3G and 4G/LTE), By Connectivity Solutions (Integrated, Embedded and Tethered), By Application (Driver Assistance, Safety, Entertainment, Well-being, Vehicle Management, and Mobility Management) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global Forecast to 2029″. The connected motor market size is projected to grow from US$ 69.26 billion in 2018 to US$ 343.17 billion by 2028. The global connected car market is expected to register lucrative growth over the forecast period. This is attributed to increasing demand of automobiles that can connect the passenger to the outer world while travelling.
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Further, many key players from automotive industry are investing in connected cars. This is attributed to the increasing profit margin of the car. As for instance, General Motors stated that it’s OnStar 4G capabilities generated $350 million in profit by 2018.
Moreover, the advanced features like navigation, remote diagnostics, 24/7 connectivity, multimedia streaming are some of the drivers the connected car market.
· The European government has awarded more than US$ 4.56 IN November 2018 to a Bosch-led project which will invest a total of US$ 9.11 million to accelerate the development and deployment of connected and automated vehicle.
· MG Motor India on November 2018, partnered with Cisco IoT and Unlimit to develop connected enabled devices, as company is now focused in technological advancement with special focus on IoT.
Key Market Insights from the report:
The global connected car market accounted for US$ 69.26 billion in 2018 and is projected to register a lucrative CAGR of 15.4% over the forecast period. The market report has been segmented on the basis of technology, connectivity solutions, application, and region.
· By technology the global connected car market is segmented into 2G, 3G, and 4G/LTE and by connectivity solutions the market is segmented integrated, embedded and tethered.
· By application the global connected car market is segmented into driver assistance, safety, entertainment, well-being, vehicle management and mobility management.
· By region, North America linear motors market accounted for major revenue share of the global connected cars market and is further anticipated to maintain its dominance over the forecast period. The market in Europe accounted for second-highest revenue share in 2018.
Browse 70 market data tables* and 37 figures* on through 140 slides and in-depth TOC “Global connected cars Market” By Technology (2G, 3G and 4G/LTE), By Connectivity Solutions (Integrated, Embedded and Tethered), By Application (Driver Assistance, Safety, Entertainment, Well-being, Vehicle Management, and Mobility Management) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Global forecast till 2029.
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The prominent player operating in the global connected car market includes Telefonica, Verizon Wireless, HARMAN International., TomTom International BV., AT&T Intellectual Property, Vodafone Group, Ford Motor Company, BMW AG, AUDI AG., Mercedes-Benz.
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