Market Trends of NA Internet of Cars Industry
This section covers the major market trends shaping the North America Internet of Cars Market according to our research experts:
North American Market is expected to be driven by Vehicle Safety Norms
- Growth in the US market is driven primarily by improved vehicle safety and security standards, demand for vehicle-to-vehicle (V2V) connectivity technology, and the incorporation of IoT into the automotive industry.
- The emergence of self-driving car technology in the US market is an important trend in increasing the demand for advanced connected car features. The market is already witnessing the high growth of ADAS solutions.
- Increasing demand for aftermarket services due to the renewal of connected car service subscriptions will drive the US market in the future. Moreover, it is estimated that more than 91% of the total cars sold in the United States were internet enabled.
Understand The Key Trends Shaping This Market
Download Sample
Increasing adoption of cloud technology and IoT
- Mobile network operators (MNOs) are progressively taking on cloud-based machine-to-machine (M2M) platforms to diminish capital investment and time-to-market (TTM) for product and service launches.
- In addition, these platforms help operators integrate, develop, market, and support M2M connectivity and cloud services across business segments such as retail and automotive.
- For example, Fiat Chrysler Automobiles has announced that it will use Harman's Ignite cloud-based platform to provide drivers with various connectivity services. The system locates fuel and charging stations at the push of a button, receives traffic prompts and restaurant offers, predicts maintenance needs, and provides live customer care assistance to owners. The platform supports both 4G and 5G network connections. Such developments are expected to drive the growth of the market.
- Collaboration with carriers has allowed automakers to deploy vehicles with built-in connections faster than ever before. AT & T has more than 30 brands using its network, with BMW, Ford, Chevrolet, Jaguar, and Honda.
- Meanwhile, Verizon's connected car portfolio has a small number of OEMs, including Toyota, VW, and Mazda, which will be added shortly. AT & T has been the preferred carrier due to the variety of data plans, customization of specific vehicle models, and collaboration with manufacturers to speed up the research and development of the connected car ecosystem.
Get Analysis on Important Geographic Markets
Download Sample
