advancements in technology and increased consumer demand drives the connected car market
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Connected Car Market (2013-2018)
March 2013
Consumers demands and mandates (both existing and expected) are the major drivers for the connected car market. Most of the major economies have already introduced one mandate or the other such as eCall in Europe and GLONASS in Russia. No wonder most of the industry experts opine that the connected car is all set to be the next big thing in the automotive industry. Future generations will rely more on cloud-based backend systems for content, information, and services. This turning of car into a huge data repository will open new avenues of business opportunities for service industries such as insurance and content providers such as Spotify (U.K.).
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DID YOU KNOW?
The automotive semiconductor industry is forecasted to reach USD 18 billion by 2018.
Connected Car Market (2013-2018)
The global connected car market shipments are expected to reach 59.86 million units and likely to reach USD 98.42 billion by 2018. In terms of connectivity technologies, LTE will be the main connectivity solution; especially when the vehicle is in motion. Currently, the mobile networks are providing good coverage in all the metropolitan areas, although connectivity remains a problem in rural areas, which will impact the usability of cloud services.
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FAST FACTS
Wi-Fi has its place as vehicle to infrastructure connectivity when the vehicle is parked. It can be used for functions such as software updates, downloading maps, and content. Wi-Fi is a cost-effective alternative because it does not incur data volume costs as LTE does.
Connected Car Market (2013-2018)
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MARKET DRIVERS AND CHALLENGES
The market presents direct revenue channel from applications, services, and content. Industry experts believe that if it is done right, software updates will become the major revenue generator since people are willing to pay for them if they are reasonably priced. Software can keep the car up-to-date even if it is not the latest model anymore and essentially tied to the regular maintenance of the vehicle.
The future remains to be seen and will depend on how much the automotive companies open up their systems for third party developers. However, car manufacturers need to standardize on common solutions to drive the market and open systems to create the necessary critical mass among app developers.
Connected Car Market (2013-2018)
The total shipments of connected car in 2012 are expected to grow at an estimated CAGR of 41.2% from 2013 to 2018. This would account for more than 50% of total global car shipments by 2018
Various connectivity solutions such as LTE, 3G, Wi-Fi, and HSPA are being bundled with OEM manufactured cars, apart from the existing traditional connectivity such as Bluetooth and 2G
North America and China would lead the way in LTE adoption, while 3G would get a boost from European countries and India
Middle East, North Africa, and emerging economies in countries such as Indonesia offer a better opportunity for traditional connectivity solutions
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Connected Car Market (2013-2018)
The growth of end product market such as display and screen is directly linked to the OEM shipment of the connected car market.
Aftermarket service is likely to witness the highest CAGR from 2013 to 2018
Telematics products and connectivity module are set for high growth during the forecast period, i.e. from 2013 to 2018
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Connected Car Market (2013-2018)
Continued..
Introduction
Executive summary
Cover-page interview
Market overview
Connected car market by:
Connectivity technology
Connectivity form factor
Product and services
Application
Geography
TABLE OF CONTENTS
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Connected Car Market (2013-2018)
Competitive landscape
Company profiles
TABLE OF CONTENTS
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Continued..
Connected Car Market (2013-2018)
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Publish date: Mar 19, 2013
Number of slides: 333
Geographic coverage: Global
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Connected Car Market (2013-2018)
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Connected Car Market (2013-2018)