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Date Submitted: 04/21/2016 06:42 AM
Global Connected Cars Market is expected to cross $150.0 Billion by 2020
Global Connected Cars Market is expected to cross $150.0 Billion by 2020 – by Market Research Engine
New York, April 19: Market Research Engine has published a new report titled as “Global Connected Cars Market, By Technology (2G, 3G, 4G, GNSS), By Connectivity (Embedded, Integrated, Tethered), By Applications (Location Based, Infotainment & HMI, Safety & Security, Convenience, Driver Assistance), By Regions – Trends & Forecast: 2015–2020”
The connected car, which once was a concept and limited to science fiction movies, is a reality today. Cars are extremely well connected these days and with extensive embedded hardware components combined with smart connectivity capabilities use an array of protocols to deliver key electronic, monitoring and diagnostic functions. It is now the hottest market where everybody is trying to be a part of it considering enormous potential the market holds.
The market revenue is estimated to reach $153.60 billion by 2020,” The connected cars market is growing rapidly with the CAGR of 33.38% during the period 2015-2020. The market is growing due to increase in safety reasons and need for driver assistance.
Browse Full Report: http://www.marketresearchengine.com/reportdetails/global-connected-cars-market
The global connected car market is a very fragmented market and it is in a growing stage, where many stakeholders of the eco-system are forging strategic collaborations to create connected car solutions.
The global connected car applications market is divided into Location Based Applications, Infotainment & HMI, Safety & Security, Convenience, Driver Assistance, and Others. Safety & Security application contributes the most to the applications market. Government initiatives and customers are concerned about overall safety, and accident is the major driving force behind customers adopting cars enabled with connectivity.
The global connected...