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- 14 February 2020 21:36
Connected Vehicle Market to Witness an Outstanding Growth during 2019-2030 - BMW, AUDI AG, Tesla
Connected Vehicle Market is estimated to be US$ 39.78 billion in 2019. The market is anticipated to further grow at a CAGR of 19.15% from 2019 to 2030.
A connected vehicle is equipped with internet and can send data, access data, download software & patches, and communicate with other IoT devices. The first commercial connected car was developed by General Motors with Motorola Automotive in 1996, which could make voice calls to call centers in cases of emergency. Moreover, there are several key players, such as BMW, AUDI AG, Tesla, Volkswagen AG, and others, that have been investing heavily in connected vehicle technology to provide the best solutions in the market. The key functions/features of connected vehicles include infotainment, safety (roadside assistance, traffic, safety & collision warnings, and others), navigation, automobile diagnostics, etc.
Major Key Players of the Connected Vehicle Market are:
BMW, AUDI AG, Tesla, Volkswagen AG, AB Volvo, OnStar (General Motors), Nissan Motor Co., Ltd., Toyota Motor Corporation, Hyundai Motor Company, and Honda Motor Co., Ltd., among others.
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According to the Centers for Disease Control, vehicle crashes are the leading cause of death among young children and adults. Connected vehicles can decrease the number of serious injuries and deaths caused by accidents on roads as connected vehicles are equipped with various safety features, which can reduce the number of accidents. For instance, according to the NHTSA (National Highway Traffic Safety Administration), connected vehicles have the potential to reduce vehicle crashes by approximately 80 percent. Hence, many regional governments have been taking initiatives to promote connected vehicle technology. For instance, The US Department of Transportation's (USDOT’s) is a connected vehicle program engaged in working with local transportation agencies, state transportation agencies, and vehicle OEMs, and device makers to promote connected vehicle technology. Such government initiatives have been driving the overall market growth.
Major Types of Connected Vehicle Market covered are:
Major Technology of Connected Vehicle Market covered are:
Vehicle to Infrastructure
Vehicle to Vehicle
Vehicle to Cloud
Vehicle to Pedestrian
Vehicle to Everything
Connected vehicles provide various services/features, such as remote diagnostics, multimedia streaming, access to social media & other apps, on-road assistance, autopilot, e-call & SOS assistance, cyber security, and a wide range of other safety features. These services/features are considered as major factors that will boost market growth. Continuous product launches and developments by key market players have also been supplementing market growth. For instance, Audi AG is planning to launch 5G-connected car technology (5G technology can provide high internet speeds which further increase operational speeds) with Chinese technology giant Huawei.
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– To study and analyze the global Connected Vehicle consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Connected Vehicle market by identifying its various sub-segments.
– Focuses on the key global Connected Vehicle manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Connected Vehicle with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Connected Vehicle Market Size
2.2 Connected Vehicle Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Connected Vehicle Market Size by Manufacturers
3.2 Connected Vehicle Key Players Head office and Area Served
3.3 Key Players Connected Vehicle Product/Solution/Service
3.4 Date of Enter into Connected Vehicle Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Connected Vehicle Sales by Product
4.2 Global Connected Vehicle Revenue by Product
4.3 Connected Vehicle Price by Product
5 Breakdown Data by End User
5.2 Global Connected Vehicle Breakdown Data by End User
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In the end, Connected Vehicle industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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