Connected Car Market 2017- Global Forecast to 2022: Market to Grow at CAGR of 35.54% - Market Drivers, Restraints, Opportunities & Challenges - Research and Markets

DUBLIN, Mar. 14, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Connected Car Market by Hardware (Semiconductor Components, and Connectivity ICs- Wi-Fi, Bluetooth and Cellular), Application (Telematics, Infotainment, and Combined Telematics & Infotainment), and Geography - Global Forecast to 2022" report to their offering.

The overall connected car market registered a shipment of 5.1 Million units in 2015 and is expected to reach 37.7 Million units by 2022, at a CAGR of 35.54% between 2016 and 2022.

The growth of this market is driven by government mandates on telematics applications, implementations of intelligent transportation system (ITS), rapid urbanization, and increasing demand for usage-based insurance (UBI).

This report segments the connected car market on the basis of hardware, application, and geography. On the basis of hardware, the connected car market has been divided further into semiconductor components and connectivity integrated circuits (ICs). Considering the market segmented on the basis of hardware, the semiconductor components segment held the largest size of market in 2015. The semiconductor components are further segmented into microcontrollers, field-programmable gate array FPGAs, digital signal processors (DSPs), and memory chips.

The connected car market for FPGAs is expected to grow at the highest CAGR during 2016-2022. FPGA is an advances version of DSP and gradually usage of FPGA would grow at a higher rate than DSP to allow more complex telematics application and smoother control of self-driving components. On the other hand connectivity ICs are further divided into cellular, Bluetooth, Wi-Fi, and others. Wi-Fi connectivity ICs for connected car is expected to grow at the highest CAGR during the forecast period. The growing usage of vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) are the major factor for its high growth rate among all the ICs.

On the basis of application, the connected car market has been divided by telematics, infotainment, and combined telematics and infotainment. Combined telematics and infotainment application registered the largest market share in 2015. The applications of telematics such as emergency calling, vehicle diagnosis, maintenance notifications, driver behavior analysis, and predictive analysis; and infotainment applications such as GPS navigations, entertainment, USB, Bluetooth, Internet and Wi-Fi connectivity are embedded into the car. The government mandates on telematics application and introduction of cloud-based services for music and other multimedia support such as navigation, games, movies and internet browsing has led to an increase in the combined telematics and infotainment applications.

North America accounted for the largest share of the connected car market. The U.S. is major contributor to the growth of market in North America. Growing attention from U.S. government towards implementation of intelligent transportation system (ITS) and presence of major automobile companies such as General Motors Company (U.S.), Ford Motor Company (U.S.) and Tesla Motors, Inc. (U.S.), and high disposable income are driving the growth of connected car market in North America. Deployment of smart city and smart infrastructure in countries such as China, Japan, South Korea, and India contributes to the highest growth of the market in Asia Pacific during the forecast period.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Connected Car Market, By Hardware

8 Connected Car Market, By Application

9 Geographical Analysis

10 Competitive Landscape

11 Company Profiles

- Airbiquity, Inc
- AT&T, Inc.
- Audi AG
- BMW AG
- Delphi Automotive PLC
- Denso Corporation
- General Motors Company
- Google, Inc.
- Robert Bosch GmbH
- Tesla Motors, Inc.
- Vodafone Group PLC.
- Volvo Car Corporation
- Wirelesscar

For more information about this report visit http://www.researchandmarkets.com/research/rq92jm/connected_car

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SOURCE Research and Markets