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Automotive Connected Car Platform Market by Service and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR41433
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The automotive connected car platform market share is expected to increase by USD 6.85 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 15.31%.

This automotive connected car platform market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive connected car platform market segmentation by service (infotainment services and telematics services) and geography (North America, Europe, APAC, South America, and MEA). The automotive connected car platform market report also offers information on several market vendors, including Airbiquity Inc., Altran Technologies, AT&T Inc., Cisco Systems Inc., CloudMade, LG Electronics Inc., Microsoft Corp., Qualcomm Inc., Robert Bosch GmbH, and TomTom International BV among others.

What will the Automotive Connected Car Platform Market Size be During the Forecast Period?

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Automotive Connected Car Platform Market: Key Drivers, Trends, and Challenges

The increased focus of oems on the development of autonomous and connected vehicles is notably driving the automotive connected car platform market growth, although factors such as may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive connected car platform industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Connected Car Platform Market Driver

Rise in the adoption of cloud technologies and IoT to reduce the capital expenditure in developing connected car platforms is the major drive for the automotive connected car platform market growth.Mobile network operators (MNOs) are increasingly adopting cloud-based M2M platforms that help them reduce capital expenditure and time-to-market (TTM) for product or service launches. Cloud-based platforms help MNOs manage, assemble, and develop services. In addition, the platforms help telecommunication operators integrate, develop, market, and support M2M connectivity and cloud services across business segments such as retail and automotive. For instance, Axeda and Jasper Wireless entered into a partnership and adopted M2M cloud-based strategies that help MNOs manage the services offered to customers and maximize their revenue. With a push of a button, the system would assist owners by locating fuel and charging stations, receiving traffic prompts and restaurant offers, predicting maintenance needs, and providing live customer-care assistance. The platform would support both 4G and 5G network connectivity.These services specific to the use of the cloud for the collaborative development of a new connected car platform ecosystem are expected to propel the growth of the global automotive connected car platform market.

Key Automotive Connected Car Platform Market Trend

Rental companies adopting the connected car platform to attract customers is the major influencer of the automotive connected car platform market growth. Connected car technologies are being adopted by retail customers as well as rental players. Additionally, emerging markets are witnessing a wider adoption of connected car technologies through rental players. For instance, Ola (an on-demand taxi service in India) has started offering Ola Play, a connected car platform, to the Ola rental users from March 2017. This platform allows users to control the car and driver consoles from their smartphones. They can also control these functions through a device mounted inside the car. The platform allows custom features like music and video streaming through online apps. Although the platform is focused on comfort and entertainment features currently, it will soon focus on features like priority booking through a loyalty program. Basically, the objective of these rental companies is to engage customers in using their app for more time, which will benefit customer attraction and retention. This trend is expected to be positive for connected car platform providers as it is opening a new revenue avenue for them, and rising mobility-as-a-service (MaaS) is crucial for the growth of the connected car market.  

Key Automotive Connected Car Platform Market Challenge

The short product life of connected car technologies due to the fast advancements in passengers' smartphones is the major hindrance to the automotive connected car platform market growth. Infotainment systems, which are generally embedded in vehicles, offer entertainment, phone, and navigation services via a touchscreen or display unit to the driver and passengers. However, in the past few years, consumers are feeling disconnected from their in-vehicle infotainment systems, owing to the lag between the product cycles of smartphones and vehicles. The technological advances in vehicles take years to get commercialized. As a result, automotive manufacturers and automotive infotainment manufacturers are not able to keep pace with smartphone updates. Though in-vehicle infotainment systems offer exceptional graphics on large screens, they are expensive compared to the applications available on smartphones. Hence, automotive manufacturers, in collaboration with automotive infotainment and OS developers, are spending millions of dollars on designing and developing voice recognition software, navigation systems, and platforms. However, most of these features are either preinstalled on smartphones or can be downloaded easily. Therefore, it is a challenge for the connected car market to keep pace with the smartphone market as smartphone integration is the top priority for many customers, and the satisfaction level of the customer is highly dependent on the performance of the in-vehicle systems. 

This automotive connected car platform market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global automotive connected car platform market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive connected car platform market during the forecast period.

Who are the Major Automotive Connected Car Platform Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Airbiquity Inc.
  • Altran Technologies
  • AT&T Inc.
  • Cisco Systems Inc.
  • CloudMade
  • LG Electronics Inc.
  • Microsoft Corp.
  • Qualcomm Inc.
  • Robert Bosch GmbH
  • TomTom International BV

 

This statistical study of the automotive connected car platform market encompasses successful business strategies deployed by the key vendors. The automotive connected car platform market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive connected car platform market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Connected Car Platform Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive connected car platform market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global automotive components and accessories market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Automotive Connected Car Platform Market?

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48% of the market’s growth will originate from APAC during the forecast period.China is a key market for automotive-connected car platforms in APAC. Market growth in this region will be faster than the growth of the market in regions.

Improved smartphone ecosystem will facilitate the automotive connected car platform market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Service Segments in the Automotive Connected Car Platform Market?

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The automotive connected car platform market share growth by the infotainment services segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2021-2025 and embrace technologies to improve business efficiency.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive connected car platform market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Connected Car Platform Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 15.31%

Market growth 2020-2024

USD 6.85 billion

Market structure

Fragmented

YoY growth (%)

13.03

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

APAC at 48%

Key consumer countries

US, Germany, Canada, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Airbiquity Inc., Altran Technologies, AT&T Inc., Cisco Systems Inc., CloudMade, LG Electronics Inc., Microsoft Corp., Qualcomm Inc., Robert Bosch GmbH, and TomTom International BV

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Automotive Connected Car Platform Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive automotive connected car platform market growth during the next five years
  • Precise estimation of the automotive connected car platform market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive connected car platform industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive connected car platform market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • COVID-19 impact on consumer discretionary sector
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five Forces Analysis
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Service

    • Market segments
    • Comparison by Service
    • Infotainment services - Market size and forecast 2020-2025
    • Telematics services - Market size and forecast 2020-2025
    • Market opportunity by Service

    Customer Landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Airbiquity Inc.
      • AT&T Inc.
      • Capgemini SE
      • Cisco Systems Inc.
      • CloudMade
      • LG Electronics Inc.
      • Microsoft Corp.
      • Qualcomm Inc.
      • Robert Bosch GmbH
      • TomTom International BV

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      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.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The automotive connected car platform market market growth will increase by $USD 6.85 bn during 2021-2024.
      The automotive connected car platform market market is expected to grow at a CAGR of 15.31% during 2021-2024.
      Technavio has segmented the automotive connected car platform market market by service (infotainment services and telematics services) ,geography (North America, Europe, APAC, South America, and MEA) , and geographic (North America, Europe, APAC, and South America).
      Airbiquity Inc., Altran Technologies, AT&T Inc., Cisco Systems Inc., CloudMade, LG Electronics Inc., Microsoft Corp., Qualcomm Inc., Robert Bosch GmbH, TomTom International BV are a few of the key vendors in the automotive connected car platform market market.
      APAC will register the highest growth rate of 48% among the other regions. Therefore, the automotive connected car platform market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the automotive connected car platform market market growth are:
      • Increased focus of OEMs on the development of autonomous and connected vehicles
      • Modernization of foundry industry
      The automotive connected car platform market market vendors should focus on grabbing business opportunities from the infotainment services segment as it accounted for the largest market share in the base year.
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