Increasing Smartphone Integrated Services Propels Global Connected Car M2M Market

Published Date : Apr 24, 2017

ALBANY, New York, April 24, 2017 - has announced the addition of the “Global Connected Car M2M Market 2017–2021,” report to their offering. This market research report sheds light on different aspects of the market including its size, competitive dynamics, and growth prospects. The report predicts the global market for connected cars M2M to rise at a stellar CAGR of 27.52% from 2017 to 2021. 

Connected cars, already becoming a hit, are internet-connected a cars that provide several tangible benefits. They can provide information about traffic and identify dangers in advance. Besides making driving more comfortable, they also provide entertainment in the form of music, radio, news, and podcasts. Connected cars hold out a strong promise for automakers and realizing it both established and new players have jumped on to their market. This has made the market highly fragmented and competitive. 

Driving growth in the connected cars M2M market is the rising number of smartphone integrated services. Need for in-vehicle connectivity and telematics to improve the overall driving experience has boosted the market as well. Further, with the higher production and quicker uptake of electronic vehicles, automotive original equipment manufacturers (OEM) are expending money on designing innovative applications.

Acting as deterrents to the global market for connected cars is the potential security breaches that is negatively impacting the swift uptake of the technology. A noticeable trend in the market is businesses trying to tap into the data connected cars generate to uncover valuable trends pertaining to riders’ locations, in-car entertainment choices, driving habits, and more. This also can help them anticipate maintenance issues and create more effective systems. 

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In order to study the global market for connected cars M2M, the report segments it into Europe, Middle East, and Africa, the Americas, and Asia Pacific. Among the three, the Americas dominate the market on account of the high disposable incomes of the people and their tendency to splurge on high end luxury cars that come embedded with advanced features. Other factors driving demand in the region is the long hours people spend on roads driving compared to other regions. 

The report also segments the market for connected cars based on technology into embedded solutions, integrated solutions, and tethered solutions. On account of the growing necessity for improved navigation and assistance services for drivers, the embedded technology segment takes a leading position in the market. 

Depending upon application, the report divides the global market for connected cars into vehicle management, infotainment, driver assistance, and on-drive management. The report leverages market-leading analytical tools such as Porter’s Five Forces to gauge the competition in the market. Some of the key companies it lists are Alpine Electronics, Audi, BMW, GM, IBM, Ford Motor Company, and Google. 

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