Enjoy complimentary customisation on priority with our Enterprise License!
Technavio’s market research analyst predicts the global connected car M2M market to grow steadily at a CAGR of around 27% by 2021. One of the primary drivers for this market is the growing number of smartphone integrated services. The demand for in-vehicle connectivity and telematics has led to technological advances that aim to enhance the overall in-vehicle experience of both the passengers and drivers. Consumers are spending plenty of time on their personal mobile devices. Consequently, they expect a similarly enhanced experience from the in-vehicle entertainment and information systems, particularly with respect to user interface. Moreover, owing to the growing demand for electronic vehicles across the world, automotive OEMs are developing applications that will allow the consumers to connect their smartphones to the vehicle to provide a real-time status of their vehicle's battery. For instance, BMW i Remote application allows BMW i3 users to check the battery capacity of the vehicle by connecting their smartphones to the automobile while it is being charged. These advancements are expected to propel growth in the global connected car M2M market in the coming years.
In terms of geography, the Americas accounted for the major share of the market during 2016 and is expected to continue its dominance in the coming years. The significantly high sale of luxury cars is one of the primary reasons for the growth of the connected car M2M market in the region. Also, the increasing number of passengers spending more time in the car is expected to further propel the growth of the connected car M2M market in the region during the next four years.
The global connected car M2M market is highly fragmented due to the presence of several international and regional vendors holding shares in markets across the globe. Also, increasing popularity of internet of things (IoT) has a significant impact on the automotive industry. The industry is expected to witness lucrative opportunities in the connected cars segment due to the drastic digital transformation.
Leading vendors in the market are –
Other prominent vendors in the connected car M2M market include Bosch, Delphi Automotive, Ford Motor Company, Google, IBM, Mercedes-Benz, NXP Semiconductors, PSA Peugeot Citroën, Qualcomm, Sierra Wireless, Tech Mahindra, Toyota, Volkswagen, and Wipro.
During 2016, the embedded solutions segment dominated the connected car M2M market and accounted for a major part of the overall market share. The rising necessity for better navigation and driver assistance services are few of the major factors responsible for the growth of this segment in the global market.
In this market study, analysts have estimated the safety and security segment to dominate the connected car M2M market during the forecast period. Factors such as the ability to contact emergency services, avail vehicle diagnostics, directions, and tracking of stolen vehicles are the key contributors to the growth of the safety and security segment in the connected car M2M market.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Five forces analysis
PART 07: Market segmentation by product
PART 08: Market segmentation by technology
PART 09: Market segmentation by application
PART 10: Geographical segmentation
PART 11: Decision framework
PART 12: Drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor profiles
PART 16: Appendix
Tags: iot devices, embedded software, mobile app development, software development, M2M industry trends, M2M market study,
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.