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Connected car M2M services market to reach a CAGR of more than 32% by 2020

Published: July 1, 2016 | London, UK

According to the latest research study released by Technavio, the connected car M2M services market in the UK is expected to reach a CAGR of more than 32% until 2020.

This research report titled Connected Car M2M Services Market in the UK 2016-2020, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various application segments, including safety and driving assistance, connectivity, navigation services, infotainment services, and diagnostic and maintenance.

Connected cars enable drivers to connect seamlessly with online platforms and obtain real-time communication such as traffic updates during travel. One of the important aspects of connected cars is the availability of various infotainment services, which includes audio and visual entertainment, connectivity, and navigation. Mostly these serve the driver’s and passenger’s entertainment needs as the end user can stream multimedia content and access social networks while on the move. The growing demand for in-car infotainment services is one of the primary factors driving the growth of this market in the UK.

This industry research study identifies the emergence of autonomous or unmanned vehicles as one of the emerging trends propelling this market’s growth prospects in the coming years. Autonomous vehicles are among the major innovations in the automotive industry as they have secure social, economic, and mobility-related benefits. Although sophisticated autonomous or unmanned vehicles are already in existence, these vehicles are yet to be commercialized.

During 2015, the safety and driving assistance segment led the connected car M2M connections and services market and accounted for more than 65% of the market share in terms of revenue. Safety features include the ability to contact emergency services, vehicle diagnostics and directions, and track stolen vehicles.

Some prominent vendors in the market include Delphi Automotive, Ford Motors, IBM, Intelligent Mechatronic Systems, Mercedes-Benz Connect, Parrot Automotive, PSA Peugeot Citroën, Qualcomm, Sierra Wireless, Tech Mahindra, Toyota Motors, Volkswagen, Wipro, and Verizon Enterprise Solutions.

Source: Technavio

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