New Connected Vehicle Market Upside Could Reach $152 Billion
Automakers are in a rush to add Internet connectivity to new cars to help sell additional products and services. By 2020, revenues from connected vehicle services are expected to reach $152 billion — connected-safety feature revenue will deliver $13 billion of that total.
Exploring the Next-Generation of Connected Car Solutions
The emergence of connected infotainment services — such as off-board navigation, social media integration, music streaming, and in-car Wi-Fi — is driving the adoption of cloud-based vehicle platforms enabled by embedded or tethered 4G cellular wireless connectivity.
The Internet of Things Enables Connected Vehicle Advances
The Internet of Things is the convergence of technology advances and macro trends, like urbanization. More than half of the world’s population lives in urban areas; by 2050, that figure will be 70%. As the population migrates to urban centers, problems like pollution and traffic congestion will arise.
How the Connected Car Market will Reach $141 Billion by 2020
The connected automobile market is expected to generate a revenue of $141 Billion by 2020. Advanced in-vehicle infotainment systems and a fast connection to the wireless network are the two prominent features that potentially enhance the market growth.
Fleet Management Applications for The Internet of Things
One of the most interesting applications for embedded M2M technologies is with commercial vehicle fleets. Fleet Management is about improving commercial fleet vehicle operations. New mobile technology applications are an example of practical uses for concepts that are known as the Internet of Things.
Confusion about Connected Cars and the Internet of Things
Knowing about something and understanding it are two very different things. A recent market study found that this gap was wide when it came to familiarity with connected vehicles.
While 56% of U.S. car owners had heard of connected cars, just 14% were actually familiar with what they were.
Connected Car Service Market will Reach $17 Billion in 2018
North America is the foundation of the global connected car business, accounting for 37% of global service revenue in 2013 — Europe and Asia will be fast-growing regions. With sizeable auto markets and large land areas, countries like the U.S. and China are ideal for connected vehicle services.
The connected car services market is growing at a 2013-2018 compound annual growth rate (CAGR) of 25%.
How Connected Cars will Create Multiple Revenue Opportunities
Important developments in the consumer and commercial telematics arena have subtly changed the nature of the industry altogether. Vehicle manufacturers are taking telematics extremely seriously, as connectivity can now make or break the sale of a much more valuable item, that is, the purchase of an automobile.
Global revenues from consumer and commercial telematics are forecast to reach nearly $20 billion by 2018.
Connected Automobile Revenues will Exceed 8 Billion EUR in 2018
On the market side, according to IDATE, 420 million automobiles will be connected to the mobile internet by 2018 — representing a 57% CAGR on the 45 million connected vehicles in 2013.
Nevertheless, this growth is not homogeneous for each category of connected cars. The embedded systems will lead the market with 222 million units by 2018.
Exploring Cellular Telematics and the Connected Car Opportunity
Telematics is one of the fastest growing segments of the cellular machine-to-machine (M2M) market. The total telematics M2M SIMs reached 37 million in 2013, representing about 4% of all passenger cars. Pyramid Research estimates that penetration of passenger cars will grow to 12% by 2018 — with telematics M2M SIMs contributing more than 20% of all M2M SIMs.
Europe will become the largest market in 2016, overtaking the U.S. market.
via Pyramid Research
You must be logged in to post a comment.