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Technavio’s market research analyst predict that the Connected Car M2M market in APAC will continue to grow at CAGR of more than 45% during the forecast period. The key growth drivers in this market are increasing demand for vehicle and driver safety measures, and in-vehicle infotainment services is expected to drive the market .
Launch of electric vehicles with almost all applications such as M2M connections for power management, location-based services for charging points, electronic meters, and safety and security devices is also enhancing the market revenue. For instance, sales Mahindra Reva e20 has increased significantly in few cities of India because of the additional connected M2M services feature inspite of premium price bracket it fall among the hatchback car models.
The competition in APAC among major connected car in-vehicle providers is very slowly gaining momentum. Unlike the US and Western Europe, ussers preferrnce of adopting a technology-enable car is low. Also, most of the countries in APAC are highly price sensitive in the hathback car categories. Hence, only premium car such a BMW, Audi, have lunched the connected car applications along with their new models. In addition, some of the leading vednors such as Toyota have lunched connected car applcation along with their luxuary car segments.
Some of the key leading companies in the Connected Car M2M market are -
Infotainment is expected to witness a very high growth rate compare to other segment in Connected Car M2M market in APAC. Average time spent by an users travelling his own vehicle in Shanghai and Mumbai is 120 minutes and 105 minutes respectively in a weekday. Hence, high quality infotainment equipment plays a vital role in car purchasing decision making process. Thus car headunits connected to mobile, and connected entertainment features embded with the cars are expected to play avital role in purchasing a connected car .
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Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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DATA ANALYSIS
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