(I-BusinessNews.Com, May 17, 2019 ) According to the new market research report Connected Car Devices Market by Communication Type (V2V, V2I, V2P), Connectivity Type (DSRC, Cellular Network), Product Type (Das, Telematics), Vehicle Type (PC, LCV & HCV), Electric Vehicle Type (BEV, HEV, PHEV, FCV) and Region – Global Forecast to 2021. Growing stringency of safety regulations and increasing demand for luxury and comfort have changed the market dynamics for vehicle manufacturers globally. The global connected car devices market is projected to grow at a CAGR of 16.3% during the forecast period, to reach USD 57.15 billion by 2021.
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Dedicated Short Range Communication (DSRC): Promising technology in connected car devices
Connected car devices with DSRC as connectivity use short-range communication technologies such as Radar and Lidar, which are designed for a communication range up to 1000 feet. DSRC allows rapid communications between connected car networks and is used for various applications in the modern automobiles. The high demand for DSRC can be attributed to several advantages offered by the technology in connected vehicle applications. DSRC as connectivity technology is used in various vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) applications such as adaptive cruise control, park assist systems, and collision avoidance system among others. The market for these technologies is growing rapidly and regulatory bodies in Europe and North America are planning to mandate some of these technologies.
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Telematics Systems: Upcoming mandates in Asia-Pacific to drive the demand
The global connected car devices market is estimated to be dominated by telematics devices during the review period. Telematics systems have been mandated in all passenger cars in most of the advanced economies of Europe and North America. Furthermore, Asian countries such as China and India are investigating the benefits of telematics technology as well. The regulation regarding telematics mandate is estimated to be followed from 2019 onwards. These factors make the telematics devices one of the most prominent technologies in the connected car devices market.
Browse and in-depth TOC on Connected Car Devices Market
119 – Tables
75 – Figures
169 – Pages
Asia-Pacific: Largest market for connected car devices
Asia-Pacific was estimated to be the largest market for connected car devices in 2016, owing to the increasing vehicle production in countries such as Japan, China, and India and stringent safety regulations in these countries. Changing government approach towards vehicle, driver, passenger, and pedestrian safety has imposed many regulations, which mandate automobile manufacturers to deliver vehicles with installed safety features. Additionally, improving socio-economic conditions in countries such as India, Thailand, and Indonesia have resulted in the growth of demand for premium segment passenger cars, which in turn has accelerated the market for connected car devices in these countries.
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Connected Car Devices Market Key Players
Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive, PLC (U.K.), Robert Bosch GmbH (Germany), and Autoliv Inc. (Sweden) among others.
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