Connected Car Devices Market - Growth, Trends, and Forecast (2019 - 2024)

The Connected Car Devices Market is segmented by End-user Type (OEM and Aftermarket), Communication Type (V2V, V2I, and V2P), Product Type (Driver Assistance System and Telematics), Vehicle Type (IC Engine, Electric, and Fuel Cell Vehicle), and Geography.

Market Snapshot

Connected Car Devices Market Summary
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The connected car device market is anticipated to register a CAGR of about 21.36%, during the forecast period (2019 – 2024).

  • Connected car devices essentially assist in monitoring vehicles and drivers. These devices also update private automobile owners and fleet managers about their vehicles’ performance, pertaining to fuel economy index, emissions, onboard 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 the increasing occurrences of vehicle theft, and a robust spike in the number of road accidents, particularly due to unsafe driving habits, such as over-speeding, hard cornering, and unmanageably dense traffic, among 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, for providing infotainment facilities.
  • Vehicle automation presents the most lucrative opportunity for connected car devices, which provide the necessary (initial) inter- and intra-vehicle communication and response infrastructure, to facilitate autonomous capabilities.

Scope of the Report

The connected car device market has been segmented by end-user type, communication type, product type, and vehicle type.

By End-user Type
OEM
Aftermarket
By Communication Type
V2V
V2I
V2P
By Product Type
Driver Assistance System (DAS)
Telematics
By Vehicle Type
IC Engine
Electric
Battery Electric Vehicle
Hybrid Electric Vehicle
Fuel Cell Vehicle
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
South America
Middle East & Africa

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Key Market Trends

Increasing Incidence of Vehicle Theft and Road Accidents

The increasing incidences of vehicle theft is directing customers’ attention to a surveillance system that can monitor their vehicle and send timely updates about its geographical location. According to the Federal Bureau of Investigation (FBI), 773,139 units of motor vehicles were stolen in 2017, when compared to 767,290 units, in 2016. Additionally, a surge in road accidents, due to unsafe driving habits are also prompting customers to adopt connectivity in their cars, to remain updated about on-board diagnostics, the performance of electronic control systems, etc.

According to NHTSA (National Highway Traffic Safety Administration), about 94% of the accidents occurring on the US roadways can be attributed to human choice or error, including drunken driving, speeding, and others.

Every year, approximately 1.3 million people die in road traffic accidents; a further 20-50 million are injured. Latest technologies, such as new safety devices, connected and autonomous vehicles, and intelligent transportation systems with their associated infrastructure and systems are likely to improve and reduce road accidents. Vehicle manufacturers, governments, and international safety organizations, are all working to achieve this goal, and are heavily reliant on international safety standards. According to the US Department of Transport, V2V communication could prevent up to 80% of accidents that don’t involve drunken driving or mechanical failure.

 
Trend 1

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Europe and North America - Dominating the Market

The European and North American regions are expected to dominate the connected car device market, followed by Asia-Pacific.

The United States is considered to be a pioneer, in terms of vehicle connectivity. The US Transportation Department has taken a new initiative to accelerate the deployment of vehicle to vehicle (V2V) communications technology. This new proposal is expected to be mandatory by 2023. Additionally, the demand for smart solutions in the fields of mobility, vehicle management, safety, and driver assistance, has been continually increasing in the country over the past few years, and integration of these cutting-edge technologies has been one of the crucial parameters for customers in purchasing new vehicles.

In the EU, the European parliament implemented the regulation, mandating e-call systems in vehicles that ensures the passenger's safety, and it has been estimated that it will save more than 2,500 lives on the road. These initiatives and favorable regulations increase the number of connected vehicles on roads, which further create a huge demand for connected vehicle services and connected vehicle devices.

In the Asia-Pacific region, China leads the market for connected car devices, followed by Japan. The demand for embedded connectivity in vehicles from the consumers and the shift toward connected vehicles has expanded the market for connected car devices in the country.

Connected Car Devices Market

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Competitive Landscape

Some of the key players of the connected car device market are Continental AG, Robert Bosch GmbH, Denso Corporation, Autoliv, Autotalks, and Valeo SA among others. The companies are making partnerships for developing more advanced technology, and for being ahead in the competition. For instance; Bosch and Mojio unveiled a jointly developed, IoT integrated emergency response solution. The new offering adds crash detection and emergency call (eCall) response to an existing connected car solution from Mojio.

In January 2019, Valeo and Autotalks showcased V2X capabilities integrated with Telematics at CES 2019 event. The V2X technology will increase safety by extending the perception of the car for better anticipation of the potential road dangers. It is also key technologies in the move toward cooperative driving, and to globally optimize Smart City traffic flow and services.

Major Players

  1. Continental AG
  2. Denso Corporation
  3. Robert Bosch GmbH
  4. Autoliv Inc.
  5. Valeo SA

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By End-user Type

      1. 5.1.1 OEM

      2. 5.1.2 Aftermarket

    2. 5.2 By Communication Type

      1. 5.2.1 V2V

      2. 5.2.2 V2I

      3. 5.2.3 V2P

    3. 5.3 By Product Type

      1. 5.3.1 Driver Assistance System (DAS)

      2. 5.3.2 Telematics

    4. 5.4 By Vehicle Type

      1. 5.4.1 IC Engine

      2. 5.4.2 Electric

        1. 5.4.2.1 Battery Electric Vehicle

        2. 5.4.2.2 Hybrid Electric Vehicle

      3. 5.4.3 Fuel Cell Vehicle

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Rest of North America

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Spain

        5. 5.5.2.5 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Rest of Asia-Pacific

      4. 5.5.4 Rest of the World

        1. 5.5.4.1 South America

        2. 5.5.4.2 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share**

    2. 6.2 Company Profiles

      1. 6.2.1 Continental AG

      2. 6.2.2 Denso Corporation

      3. 6.2.3 Robert Bosch GmbH

      4. 6.2.4 ZF Friedrichshafen AG

      5. 6.2.5 Autoliv Inc.

      6. 6.2.6 Valeo SA

      7. 6.2.7 Autotalks Ltd

      8. 6.2.8 Visteon Corporation

      9. 6.2.9 Magna International Inc.

      10. 6.2.10 Infineon Technologies AG

      11. 6.2.11 Harman International Industries Incorporated

      12. 6.2.12 Panasonic Corp.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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