“Stringency of vehicle safety legislations in developed regions, improving socio-economic conditions in developing regions along with growing demand for electric vehicles across the globe to fuel the demand for connected car devices” The global connected car devices market is projected to grow at a CAGR of 16.3% from 2016 to 2021, to reach USD 57.15 billion by 2021. The major factors responsible for the growth of this market include the introduction of advance technologies such as adaptive cruise control and lane departure warning systems in premium and mid-segment cars and rising awareness about vehicle, driver, and pedestrian safety.
“Asia-Pacific: High growth potential market” The Asia-Pacific region is projected to witness the highest CAGR from 2016 to 2021. The major factors responsible for this region’s growth include increasing demand for driver assistance systems and government laws favoring the implementations in passenger cars, especially in developed countries like Japan and South Korea. These two countries have vehicle safety regulations equally stringent as that of Europe and North America. Additionally, improving socio-economic conditions in countries such as India, Thailand, and Indonesia have resulted in the growth of demand for premium segment passenger cars, which in turn has accelerated the market for connected car devices in these countries.
“Dedicated Short Range Communication (DSRC): Technology for present and future” Dedicated Short Range Communication (DSRC) enabled devices are used to communicate vehicle data for a short range up to 1000 feet. DSRC devices use Radar and Lidar technologies for short range rapid communication in various applications such as vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I). Its applications include driver assistance technologies such as lane departure warning and advance cruise control systems. The market for these technologies is on the rise and the trend is expected to continue in the near future. The DSRC technology is a high growth potential market in the overall connected car devices market.
The study contains insights provided by various industry experts, ranging from material suppliers to Tier-1 companies, and OEMs. The break-up of the primaries is as follows:
- By Company Type – Tier-1 - 62%, Tier-2 - 25%, and Tier-3 - 13% - By Designation – C Level - 38%, Director Level - 37%, and Manager Level - 25% - By Region – North America - 12%, Europe - 50%, and Asia-Pacific - 38%
The global connected car devices market is dominated by the globally established players such as Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive, PLC (U.K.), Robert Bosch GmbH (Germany), and Autoliv Inc. (Sweden). The key growth strategies adopted by these players include expansion and new product development.
The report includes detailed profiles of the following companies: - Continental AG - Denso Corporation - Delphi Automotive, PLC - Robert Bosch GmbH - Autoliv, Inc. - Infineon Technologies AG - Valeo S.A. - Magna International, Inc. - ZF Friedrichshafen AG - Visteon Corporation
Reasons to Buy the Report: This report contains various levels of analysis, including industry analysis (industry trends, Porter’s Five Forces, and PEST analysis), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the emerging and high growth segments of the connected car devices market, competitive landscape, high growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them to acquire a larger market share.
Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
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