Connected Car: Brief Market Analysis and Forecast

Connected Car: Brief Market Analysis and Forecast
Aug 31

The growing spread of embedded in-vehicle connectivity technology and smartphone integration platforms has made smart cars one of the fastest-growing segments of the Internet of Things market. All major automotive OEMs are investing in connected car programs and in the future of connected cars market. Other major players, such telematics companies, are also competing to gain a larger share of the market. Many mobile operators have moved on from their traditional roles as connectivity providers to offering end-to-end connected car platforms directly to automotive OEMs and aftermarket suppliers and invest in connected cars application development.

Concerning connected cars market forecast, by 2025, almost every new car will be connected to the Internet through a local area network. A connected car will have an infotainment section and a display portion with a monitor to manage and control the various functions of the car.

connected cars market

The connected cars market analysis shows that it is worth US40 billion in 2015 and is expected to be valued at US$131.9 billion by 2019. Launching electric vehicles with applications such as M2M connections for power management, location-based services, electronic meters, and safety and security devices is also enhancing the market of revenue.

It is expected that Europe will command a large part of the connected car market, followed by North America and the Asia-Pacific region. Moreover, the Asia-Pacific market for connected cars is expected to grow at a high rate.

In order to fully realize the potential of the connected car, some fundamental steps need to be taken today. Looking ahead, we theorize the big connected-car issues to pay attention to will be:

          Big Data

 

          Mobile Applications for Drivers

 

          Fuel Efficiency

 

          Monitoring Beginner Drivers

 

          Route Navigation

 

Slowly but surely, the connected and driverless car is becoming a reality. Car manufacturers and software developers must work together to provide the best quality software for connected self-driving cars in order to prevent issues related to inconsistencies and low-quality software.

Archer Software is a recognized provider of embedded software solutions for connected cars. Additionally, we have a broad base of expertise in developing mobile applications for Android, iOS, including geolocation and geopositioning services. For more information about how we can develop connected car software solutions that are right for you, contact our experts at info@archer-soft.com.

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