Global Connected Cars Market to Surpass the USD 155 Bn Mark, Predicts iGATE Research in Its New Report Available at MarketPublishers.com17 Nov 2016 • by Natalie Aster
LONDON – Connected cars form one of the most lucrative segments of the automobile industry. They are set to lead to radical changes in the driving experience given opportunities they offer: e.g. to benefit from using real-time communication with the help of online platforms.
Major factors driving growth of this market space comprise technological advances, government initiatives, the rising dependence on technology, and more. This marketplace is expected to be worth more than USD 155 billion by 2022.
It faces some challenges like a product lifecycle, connectivity infrastructure, the use of standards, etc.
When it comes to connectivity form factors, it should be noted that this space is dominated by the embedded solution segment.
3G holds the largest chunk of the connected cars marketplace in terms of the connectivity technology. However, it is expected lose the race in the upcoming years given increasing popularity of the 4G/LTE technology.
Safety applications make up the largest segment of the marketplace in terms of product categories. The second position belongs to driver assistance.
Globally, the U.S. is an unrivalled leader which is followed by Western Europe. China is the number three player.
New research report “Global Connected Cars Market and Volume Forecast to 2022” drawn up by iGATE Research Pvt. Ltd. offers a comprehensive analysis of the global market for connected cars. The study throws light on product categories.
It proceeds with a discussion of connectivity form factors. The report investigates the marketplace on the basis of the connectivity technologies. The research study also explores performance of this market across key markets: the U.S., Japan, India, Brazil, etc.
The research report investigates drivers and challenges of the global marketplace. The study also gives future projection for the world’s market through 2022.
More new reports by iGATE are available at its page.