[January 28, 2016]

Connected Car M2M Market in Western Europe to Reach Close to USD 34 Billion by 2020, says Technavio

According to the latest market study released by Technavio, the market size of the connected car M2M in Western Europe is predicted to reach close to USD 34 billion in revenue by 2020.

This research report titled 'Connected Car M2M Connection and Services in Western Europe' provides an in-depth analysis of the market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments until 2020.

Request sample report: http://bit.ly/1P4CJay

"Key findings of this market study highlight increasing deployment of vehicle-to-vehicle communications, also referred to as V2X technology, is predicted to drive the growth of the connected car M2M market in Western Europe over the next four years. The market will also witness the growing use of analytics solutions for connected cars during the forecast period," said Rakesh Panda, Technavio's senior machine (M2M) research industry analyst.

"Automobile and big data analytics companies are forging partnerships to understand vehicle performance and connecting with vehicle owners to improve brand loyalty and efficiency. These remote monitoring features are expected to vastly improve safety and security aspects in vehicles by preventing collisions and informing owners about faults inside vehicles," added Panda.

Technavio segments the connected car M2M connections and services market in Western Europe into the following application categories:

• Driver assistance
• Safety and security
• Infotainment
• Vehicle management
• On-drive management
• Other services

According to the key findings of the report, the safety segment of the connected car M2M market in Western Europe is likely to reach close to USD 8.2 billion in revenues by 2020. Some popular safety and security features include, the ability to contact emergency services, vehicle diagnostics and directions, and the ability to track stolen vehicles. Over the next four years, safety from hackers gaining access to a cloud connected vehicles is expected to emerge as a key concern among vehicle owners. In Western Europe, secured cloud technologies are being adopted by car manufacturers to ensure network security and reliable information transfer. The safety and security application is expected to witness significant growth in the forecast period.

Automotive infotainment is the fastest-growing technology in the connected car market

Infotainment units are embedded devices deployed in vehicles to provide navigation, connectivity, and multimedia entertainment. During the forecast period, many vehicles are likely to exhibit infotainment features, connecting with devices such as smartphones, and personal navigation systems such as hands-free car kits. In-vehicle infotainment mainly consist of handset integration, heads-up display, interior personalization, and cloud-based infotainment.

The infotainment market is expected witness increasing competition among market vendors and a decline in average selling price (ASP) of in-car infotainment systems. To leverage the attractive opportunity presented by the automotive infotainment segment, leading automotive manufacturers such as Honda (News - Alert) and Daimler are entering into strategic partnerships with telematics providers for providing customized and personalized entertainment to their end-users. Similarly, many other vendors are expected to enter this market by providing cloud analytics for automotive infotainment during the forecast period.

Browse related reports:

-- APAC Machine to Machine and Connected Devices Car M2M Connection and Services Market 2015-2019

-- Connected Car M2M Connection and Services Market in the US 2015-2019

-- Global Connected Car M2M Connections and Services Market 2015-2019

Purchase any three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

View source version on businesswire.com: http://www.businesswire.com/news/home/20160128005057/en/

[ Back To TMCnet.com's Homepage ]