Connected Car Market Size by Service By Region – Global Opportunities & Forecast, 2020-2027 from MUBAZ's blog
The Connected
Car Market will elevate at a higher rate over the forecast period. This is
because of the rapidly accelerating urban population, increasing emphasis
towards the introduction of platforms, and the inclination towards
technology-driven vehicles to have a better driving experience.
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The integration of modernised
diagnostic system in the connected car to keep a check on the carbon emission
and fuel consumption by vehicles in order to supervise the overall hearth of
engine is the foremost reason responsible for the growth of the global
connected car market. Further, the intensified initiatives by the government to
establish smart transportation system to ameliorate the safety of passengers
and drivers will strengthen the Connected Car market opportunities. Further,
several leading global giants are increasingly emphasising on the establishment
of sophisticated connecting systems which operates in the same way as tablets
and smartphones are promoting the market growth. Also, the surging demand for
better user comfort and the increasing tendency of in-vehicle connectivity
solution among the desired consumers are other factors stimulating the market
growth. The in-vehicle connectivity solution helps individuals to sync their
smartphones to enable the users receive or make phone calls, thus alluring a
large number of individuals to adopt connected cars. However, the risk of
breakage of in-vehicle solutions will restrain the Connected
Car market size.
On the basis of form, embedded form of connectivity is projected
to witness a significant growth during the forecast period. This is because of
the mounting demand of cloud-based services and the convenient availability of
economical service plans. As per the Connected Car market research, embedded
connectivity solution in the car enables distant diagnostics, thereby
bolstering the market growth. In addition, the rigorous norms enforced by the government
of various nations in order to authorise the embedded form of connectivity will
strengthen the market growth.
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