Enjoy complimentary customisation on priority with our Enterprise License!
Technavio’s market research analyst predicts the connected car M2M connections and services market in WE to grow at a CAGR of over 26% during the forecast period. Increased customer demand for advanced infotainment services is the primary growth driver for this market. The demand for the connected car is on the rise as it provides advanced infotainment services such as multimedia streaming, personalized music streaming, social media and networking, and in-car Wi-Fi hotspot connectivity. Companies like General Motors provides lomation, an advanced technology that enables finding services and goods while traveling and also offers advanced navigation systems.
The availability of high-speed wireless networks is another factor that is anticipated to drive the market growth during the forecast period. Due to the presence of 3G and LTE networks, telecom operators in Western European countries such as France, Germany, Spain, the UK, and Italy, can provide high-speed connectivity to connected car M2M users. Moreover, availability of high-speed networks is driving most car manufacturers, connected car M2M platform developers, and telecom operators to develop partnerships to launch LTE-based connected cars during the forecast period.
The driver assistance application of the connected car M2M services market in WE is growing remarkably and is likely to register a CAGR of more than 27% during the forecast period. The high importance given to optimal routing and journey management from the end-user perspective are the primary reasons driving the growth of this segment. Driver assistance application helps a driver during heavy traffic, in the parking zone, and on highways by providing real-time traffic information.
The connected car M2M OEM market in WE is likely to grow at a steady rate during the forecast period because automotive companies are increasingly focusing on offering value-added services to the consumers. However, due to the stiff competition in the market, manufacturers are expected to provide advanced value-added services that will make the connected car unique and different from competitors.
The connected car M2M connections and services market in WE exhibits high market potential, hence it has encouraged many chip makers, telecommunication providers, telematics providers, automobile companies, and technology providers to enter the marketplace, which has led to increased competition in the market. As a result, vendors need to introduce innovative products to differentiate among each other and sustain in the market.
The top five vendors in the market are -
Other prominent vendors in the market include Delphi Automotive, Ford Motors, IBM, Intelligent Mechatronic Systems (IMS), Mercedes-Benz Connect, Parrot Automotive, PSA Peugeot Citroën, Qualcomm, Sierra Wireless, Tech Mahindra, Toyota Motors, Volkswagen, and Wipro.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Market segmentation by shipment units
PART 08: Market segmentation by usage
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Appendix
PART 16: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.