A
new research report by the market intelligence agency Transparency
Market Research titled Connected Car Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
articulates the global connected car market which is projected to be
worth USD 131.9 billion by the end of the year 2019.
Connected
cars provide Internet access and come equipped with a wireless LAN
(local area network). Usually, a connected car manufactured after the
year 2010 would have an infotainment unit, a head unit, and an
in-dash system with a monitor. The monitor will help the user manage
and control different functions in the car.
Browse
the full Connected Car Market report at
http://www.transparencymarketresearch.com/connected-car.html
Some
examples of these functions include music playing, engine controls,
voice commands, navigation, and car diagnosis. Currently,
manufacturers of connected cars are also providing personalized
services to the consumers. So, a consumer can go to the
manufacturer’s site and select the functions they want or don’t
want in the connected car they want to buy. There is fierce
competition among connected car companies to provide the latest
technology and luxury functions to the consumers.
Even
though connected cars provide luxury, ‘security and navigation’
are the major reasons for people to invest in these cars. Navigation
segment dominated the market in the year 2012, because of increased
demand for traffic information services among the global consumers. A
navigation system with voice commands and real-time traffic data
helps a user to navigate easily and quickly.
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Sample Report at-
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1617
The
global connected car market is driven primarily by the ever-changing
preference of consumer and their growing awareness about safety and
security a car should provide. The market is also growing as
consumers feel the need of connectivity in a car. Government mandates
are also helping this market grow.
Risk
of distraction by all the features in a connected car and high cost
of hardware are factors which inhibit this market’s growth.
However, the fast-paced innovations in the network technology serve
to fuel the demand and growth of this market.
The
connected car market is segment into four parts according to the
connectivity technology. These include 4G (LTE), 3G (UMTS, HSPA,
HSPA+), and 2G (GSM, GPRS, EDGE). 4G is the fastest technology and
held over 30 percent of the entire connected car market share in
2012. This technology helps the users to access the newest apps and
services in a vehicle.
Browse
the Press Release of Connected Car Market report at
http://www.transparencymarketresearch.com/pressrelease/connected-car-market.htm
The
major connectivity solutions available for connected car are
embedded, tethered, and integrated. Half of the market share in 2012
was dominated by the integrated segment, which was then followed by
embedded and tethered.
Geographically,
the market is divided into four areas which include North America
(U.S., Mexico, and Canada), Europe (Germany, U.K., Italy, France),
Asia Pacific (Japan, South Korea, China, Australia, and Rest of the
Asia Pacific), and Rest of the World (Middle East and Latin America).
During the year 2012 North America dominated the market, because of
its technological advancements in the entertainment head units and
increased smartphone penetration. Demand from consumers in the U.S.
and Europe for luxury and high-tech vehicles is on the rise.
The
research report provided by Transparency Market Research gives a
detailed global outlook on the connected car market size estimates,
its shares, and its in-depth analysis. It also articulates about the
forecast covering the period of 2013 to 2019.
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