Automotive Digital Services Market Demand - Industry Research Reportby Rahul Gautam Manager
The German automotive digital services market generated a revenue of $2168.6 million in 2017, and it is estimated to witness a 19.3% CAGR during the forecast period (2018–2023). The market is being driven by the incorporation of mobility-on-demand services and advanced driver-assistance systems (ADAS). Automotive digital services are a collection of internet-enabled services that provide both the driver and the passengers a convenient and safer traveling experience. These digital services include connected car services, infotainment services, and logistic fleet management services.
The growing preference for mobility-on-demand services is being seen as the key trend in the German automotive digital services market. The widening availability of such services is allowing an increasing number of people to use ride hailing and sharing services instead of public transport facilities. Presently, over 750,000 people are using car sharing services in Germany, and 8 million more are open to the idea of car sharing. Lower journey costs and convenient travel offered by such services providers have compelled many people to prefer these over traditional cab services and delay purchasing their own vehicles.
On the basis of type of service, the categories of the German automotive digital services market are in-vehicle digital services, mobility-on-demand, and logistic fleet management. The mobility-on-demand category is classified into car sharing and ride hailing and sharing subcategories. In 2017, the ride hailing and sharing subcategory accounted for the larger share in the market. The convenience associated with these services and the growing customer base in urban areas are driving the market.
The in-vehicle digital services category of the German automotive digital services market is subcategorized into dashboard infotainment, internet of things, and ADAS. Among these, the ADAS subdivision held the largest share in 2017. This can be attributed to the comparatively high price of this particular service, its growing demand, and high installation rate. However, during the forecast period, dashboard infotainment category is predicted to witness the fastest growth among all categories.
Hence, the German market for automotive digital services would progress during the forecast period owing to the increase in the consumption of data by passengers.
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Created on Mar 20th 2020 08:01. Viewed 60 times.