Connected Car Devices Market - Segmented by End-user, Communication Type, Connectivity Type, Product Type, Vehicle Type, Geography - Growth, Trends, and Forecast (2019 - 2024)

Connected Car Devices Market - Segmented by End-user, Communication Type, Connectivity Type, Product Type, Vehicle Type, Geography - Growth, Trends, and Forecast (2019 - 2024)

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Connected Car Devices Market

The global connected car devices market is expected to reach USD 2070.06 million by 2023 at a CAGR of 29.44%. In 2016, the market accounted to USD 340.05 million. Connected car devices essentially assist in monitoring vehicles and drivers. The devices also keep private automobile owners, as well as fleet managers are updated about their vehicle’s performance on the fuel economy index, emissions, on-board diagnostics (OBD), vehicle maintenance, and recalls. Some devices also provide GPS tracking and real-time alerts. The major factors that are driving the market, are increasing incidence of vehicle theft and a robust spike in the number of road accidents, particularly due to unsafe driving habits, like over-speeding, hard cornering, and unmanageably dense traffic, among many others. Apart from the aforementioned drivers, vehicle connectivity has also gained traction, due to the preference of in-car Wi-Fi hotspots and data services providing infotainment facilities.

Increasing Incidence of Vehicle Theft and Road Accidents

Increasing incidence of vehicle theft is directing customers’ attention to a surveillance system that can monitor their vehicle and send timely updates about its geographic location. According to the Interpol, 7.4 million motor vehicles were stolen in December 2015 compared to 6.8 million in 2014. Additionally, surge in road accidents due to unsafe driving habits is also leading customers to adopt connectivity in their cars, so they can remain updated about on-board diagnostics, the performance of electronic control systems, etc.

                                               Connected Car Devices Market

                                                      Source: Mordor Intelligence Analysis

In 2016, road crash statistics report 174 road fatalities per million inhabitants, globally. According to the Center for Disease Control and Prevention, road traffic injuries may become the seventh leading cause of death, globally. There are many applications that enable owners to interact with the vehicle even from a certain distance. For example, a plug-in device, known as DriveMate, sends live location data via SMS and email alerts, to prevent instances of auto-theft. This also includes real-time notifications whenever the ignition is turned on or off, or if the device is unplugged. A typical car communication system involves vital enhancements, including sensors that manage the efficiency of Car-To-Home (C2H), traffic patterns of Car-To-Car (C2C) and communications between Cars-To-Passengers (C2P).

Key Developments in the Connected Car Devices Market

  • August 2017: Travelers acquired UK-based Simply Business from Aquiline Capital Partners for approximately USD 490 million, which is a leading U.K. distributor of small business insurance policies, offering products online on behalf of a broad panel of carriers
  • March 2017: - Edmunds, the leading car shopping and information platform, and State Farm, the nation’s top auto insurer, announced a new affinity relationship recognizing the importance of innovation and consumer trust in the increasingly digital car shopping process

Connected Car Devices Market Major Key Players:

  • Denso.
  • Delphi.
  • Robert Bosch Gmbh.

Reasons to Purchase Connected Car Devices Market Report

  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Detailed analysis on the product type that is expected to dominate the market
  • Detailed analysis on the regions that are expected to witness fastest growth during the forecast period
  • Identifying the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

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1. Introduction

               1.1 Study Deliverables

               1.2 General Study Assumptions

2. Research Methodology

               2.1 Introduction

               2.2 Analysis Methodology

               2.3 Study Phases

               2.4 Econometric Modelling

3. Executive Summary

4. Market Overview and Trends

               4.1 Introduction

               4.2 Market Trends

               4.3 Porter’s Five Forces Framework

                              4.3.1 Bargaining Power of Suppliers

                              4.3.2 Bargaining Power of Consumers

                              4.3.3 Threat of New Entrants

                              4.3.4 Threat of Substitute Products and Services

                              4.3.5 Competitive Rivalry within the Industry

5. Market Dynamics

               5.1 Connected Car Devices Market Drivers

                              5.1.1 Increasing Incidence of Vehicle Theft and Road Accidents

                              5.1.2 National Highway Traffic Safety Administration (NHTSA) Research and Regulations

               5.2 Connected Car Devices Market Restraints

                              5.2.1 Vulnerability to Cyber Hacks

               5.3 Connected Car Devices Market Opportunities

                              5.3.1 Increasing Market for Autonomous Vehicles

6. Global Connected Car Device Market Segmentation by End-User

               6.1 OEM

               6.2 Aftermarket

7. Global Connected Car Device Market Segmentation by Communication Type

               7.1 V2V

               7.2 V2I

               7.3 V2P

8. Global Connected Car Device Market Segmentation by Product Type

               8.1 DAS

               8.2 Telematics

9. Global Connected Car Device Market Segmentation by Vehicle Type

               9.1 BEV

               9.2 HEV

               9.3 PHEV

               9.4 FCV

10. Global Connected Car Device Market Segmentation, By Geography

               10.1 North America Connected Car Devices Market (2018-2023)

                              10.1.1 United States Connected Car Devices Market (2018-2023)

                              10.1.2 Canada Connected Car Devices Market (2018-2023)

                              10.1.3 Rest of North America

               10.2 Asia-Pacific Connected Car Devices Market (2018-2023)

                              10.2.1 China Connected Car Devices Market (2018-2023)

                              10.2.2 Japan Connected Car Devices Market (2018-2023)

                              10.2.3 India Connected Car Devices Market (2018-2023)

                              10.2.4 Rest of Asia-Pacific

               10.3 Europe Connected Car Devices Market (2018-2023)

                              10.3.1 United Kingdom Connected Car Devices Market (2018-2023)

                              10.3.2 Germany Connected Car Devices Market (2018-2023)

                              10.3.3 France Connected Car Devices Market (2018-2023)

                              10.3.4 Russia Connected Car Devices Market (2018-2023)

                              10.3.5 Rest of Europe

               10.4 Rest of the World

                              10.4.1 Brazil Connected Car Devices Market (2018-2023)

                              10.4.2 South Africa Connected Car Devices Market (2018-2023)

                              10.4.3 Others

11.  Competitive Landscape

               11.1 Introduction

               11.2 Market Share Analysis

12. Company Profiles

               12.1 Denso Corporation

               12.2 Autoliv Inc.

               12.3 Aptiv PLC

               12.4 Robert Bosch GmbH

               12.5 Continental AG

13. Future Outlook of  Connected Car Devices Market 

14. Disclaimer

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