Published Date : Mar 20, 2017
Albany, New York, March 20, 2017: The new report added to MarketResearchReports.biz evaluates the present scenario and growth prospects of the global connected car M2M connections market. The report provides a summary of the market landscape and key vendors and discusses the main drivers and restraints of market growth. The report is titled ‘Global Connected Car M2M Connections Industry 2016, Trends and Forecast Report.’
For security purposes and driver and passenger safety, many vehicle owners are opting for connected car machine to machine (M2M) services. Connected car M2M services support emergency services, vehicle diagnostics, and assistance in vehicle theft tracking.
The global connected car M2M connections market is driven by factors such as increased dependency on technology, rising demand for constant connectivity, and increase in the number of tech-savvy customers. Smart parking is another development that is driving the market growth. Smart parking proficiently reduces traffic congestion in cities with high population density. These systems make use of sensors that are deployed in the center of the parking area. Data with respect to aspects such as the number of standby vehicles and the number of vehicles in line to acquire parking space is gathered from these sensors. On the down side, availability of infotainment services inside the car can act as a major distraction for the driver, which can lead to fatal accidents, thereby limiting the growth of the market.
On the basis of application, the market can be categorized into driver assistance, security and safety, infotainment, vehicle management, and insurance-based telematics. The safety and security segment dominated the market and is expected to hold its position during the forecast period as well. The key factor driving the segment is its extensive usage in the automotive industry. Nowadays, every car comes with inbuilt safety and security measures.
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Another developing factor is the demand for vehicle to vehicle (V2V) communication technology, which will drive the market towards the upward trajectory during the forecast period. Through V2V technology, cars on the roads are able to automatically exchange relevant data and information.
Geographically, the market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America has accounted for a large share in the market and will continue to uphold its position in the coming years due to rise in demand for in-car infotainment services, awareness of safety and security services among consumers, availability of high-speed wireless networks, and increased usage of advanced applications to manage vehicles.
The leading players operating in the global connected car M2M connections market include BMW, Gemalto, Verizon Telematics, Bell Mobility, China Mobile, Deutsche TeleKom, Ericsson, KDDI, Orange, Sprint, Telenor, Daihatsu, Daimler, Ford Motor, Sony, Toyota Motors, and Tesla Motors. The market is highly competitive and the players are constantly competing on the basis of quality, price, innovation, distribution, service, promotion, and reputation. Presence of intense competition among the vendors will multiply the number of acquisitions and mergers in the long run.
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