Frost & Sullivan: Vehicle Owners in North America Prefer Technologies that Enhance Driving Experience
-- Government regulations mandate installation of fuel- and life-saving technologies prompting adoption by OEMs across vehicle model line-ups
MOUNTAIN VIEW, California, April 4, 2013 /PRNewswire/ -- Federal laws pertaining to the automotive industry in North America have a two-pronged goal - to ensure the safety of passengers and to save the environment. This has encouraged automotive original equipment manufacturers (OEMs) to focus on developing life-saving and green technologies throughout the next decade and beyond. While some technologies are no longer new to the market, there are some that are likely to become standard fitments in vehicles due to legislative requirements.
New analysis from Frost & Sullivan (http://www.automotive.frost.com), Strategic Analysis of Vehicle Technologies Evolution Roadmap and Penetration Analysis in North America, finds that major OEMs in North America are moving toward technologies that aid in meeting the carbon emission norms, while providing value for money. However, consumer willingness to invest in such technologies and regulations mandating their use will define their new revenue potential. This study covers various technologies in the domains of powertrain, including electric vehicles, chassis, safety, telematics and infotainment.
If you are interested in more information on this research, please send an email to Jeannette Garcia, Corporate Communications, at jeannette.garcia@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
"Apart from fuel-efficient and safety technologies, certain effort-saving functionalities are also likely to grow in popularity over the next decade," said Frost & Sullivan Automotive Industry Research Analyst Prana Tharthiharan Natarajan. "One such technology is electric power steering, while other technologies, such as electronic stability control, will also find high uptake due to their ability to enhance driving safety in adverse conditions."
The automotive industry is looking to offer advanced technologies that reduce fuel consumption and crash-inflicted injuries, while simultaneously enhancing the driving experience in terms of accessibility and connectivity. The availability of internet in cars is crucial for a viable business model based on content and apps delivered to cars. It ensures high throughput, low latency, and lower costs.
Consumers continue to demand more value-added features that make driving a better experience, at a reasonable cost. However, consumer demand and legislation may pull in opposite directions and subsequently affects the penetration rate of technologies. OEMs are struggling to communicate the effectiveness of active safety technologies, which, like human machine interface (HMI) technologies, are offered as optional fitment.
"Technologies such as Wi-Fi hotspots in cars, steering wheel controls, and advanced voice interface are expected to be much more popular than safety functionalities in North America," noted Natarajan. "Consumers are willing to pay more for advanced HMI features, which inevitably distract drivers, rather than life-saving technologies in the active-safety space."
Although electric vehicles (EVs) are not expected to make it big in North America, vehicle electrification is expected to save fuel and effort. The increased use of electrical and electronic components is expected to aid the development of systems that can be used on conventional vehicles, EVs, and hybrids.
Vehicle electrification is expected to save fuel and effort, although electric vehicles (EVs) are not expected to make it big in North America owing to high sticker-price and lax laws on carbon emission reduction, which pale in comparison with European targets. The increased use of electrical and electronic components is expected to aid the development of systems that can be used on conventional vehicles, EVs, and hybrids.
Strategic Analysis of Vehicle Technologies Evolution Roadmap and Penetration Analysis in North America is part of the Automotive & Transportation Growth Partnership Service program. Frost & Sullivan's related research services include: Electrified Transmissions in Europe and North America, European and North American Passenger Car Market for Camera-based Advanced Driver Assistance Systems, North American and Latin American Automotive Navigation and Telematics Services Market, and Electric Vehicle Charging Infrastructure in North America. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Strategic Analysis of Vehicle Technologies Evolution Roadmap and Penetration Analysis in North America
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Contact:
Jeannette Garcia
Corporate Communications – North America
P: +1-210-477-8427
E: jeannette.garcia@frost.com
Twitter: @Frost_Sullivan or @FS_Automotive
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