Drastic Digital Transformation of the Connected Car M2M Market

Technology - Vinay Mishra - May 08,2017

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drastic digital transformation of the connected car m2m market

As the demand for electronic vehicles rises across the globe, automotive OEMs are developing devices that will allow people to connect their smartphones with the vehicle.

A recent informative report on Market Research Hub (MRH) predicts that the global connected car M2M market will rise at a healthy CAGR of around 27% till 2021. A major factor responsible for this growth is the increasing number of smartphone related services. With rising demand for telematics and in-vehicle connectivity, the research and development aims at enhancing the overall in-car experience for both the drivers and passengers. In this modern era, people expect a superior experience from the in-car entertainment and information systems, particularly in terms of user interface.

This industry is still in its initial stage and many geographical regions are still untapped. Currently, Americas accounts for the majority of market share and is expected to remain dominant in the near future. The high sale of luxury cars in the United States is the main reason for the growth of this market in the region.

In terms of technology, the embedded solutions are an important part of the connected car M2M industry and also dominate this industry. The rising need for better navigation and driving assistance services are some of the key factors responsible for the rise of this segment in the industry.

The global connected car M2M industry is largely fragmented due to the presence of many global and regional companies competing one another across the globe. The increasing popularity of internet of things (IoT) has also provided a significant momentum to the automotive sector. This market is likely to remain lucrative in the connected cars segment due to the rapid digital transformation. Some of the major companies operating in the market are Audi, Alpine Electronics, BMW and GM.

 

For more information on this report visit - http://www.marketresearchhub.com/report/global-connected-car-m2m-market-2017-2021-report.html