Connected Car Market — Reporting and Evaluation of Recent Industry Developments

The global connected car market is undergoing a series of changes owing to the changing dynamics of consumer preferences. An increasing demand for 4G technology so as to enjoy high data transmission rates can be seen in the market. Safety services such as emergency call (eCall) are becoming increasingly popular among people. 

By offering innovative features and facilities, car connectivity is thus, revolutionizing the automobile industry. Facilities offered through car connectivity such as preventive maintenance, entertainment features, and constant internet access are beneficial for both drivers and passengers. Most importantly the need to avoid accidents is expected to drive the connected car market.

The connected car market in Asia Pacific is expected to expand at the fastest CAGR of 54.8% from 2013 to 2019, with China in the forefront, leading in terms of connected car deployment. A high scope of mobility and increasing penetration of smartphones in Asia Pacific is expected to drive the market’s growth in the coming years. 

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Previously in the connected car market, North America was leading owing to government mandates in the market and growing need for connectivity. The market in this region was valued at US$9,457.2 mn in 2012. In the coming years to come however, the North America market for connected car is expected to expand at a 20.1% CAGR between 2013 and 2019. The U.S is the most significant and mature market in the region, followed by Canada. Mexico is also expected to offer substantial opportunities for connected cars in by 2019.

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