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Global $215 Billion Connected Car Market Forecast to 2027: Opportunities in Technologies Such as 5G and AIDUBLIN, Dec. 5, 2019 /PRNewswire/ -- The "Connected Car Market by Service (OTA Update, Navigation, Cybersecurity, Multimedia Streaming, Social Media, e-Call, Autopilot, Home Integration, & Others), Form, End Market (OE, Aftermarket), Network, Transponder, Hardware, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering. Increase in demand for smartphone services and connectivity solutions in vehicles is the significant factor for the growth of the connected car market globally The global connected car market is projected to reach USD 212.7 billion by 2027, from an estimated USD 42.6 billion in 2019, at a CAGR of 22.3%. All car makers such as Ford, BMW, Audi, Volvo, Hyundai, and Toyota offer some connectivity in their vehicles. The ECU plays a critical role in the connected car system and helps control different electronic systems of connected cars. The data generated through the hardware components are integrated into the ECU and transmitted to the cloud platform. Due to increase in number of electronics systems, the number of ECUs has increased, and thus, the demand for ECUs is growing for the connected car market. The aftermarket segment is expected to grow at the highest CAGR rate within the connected car market The demand for connected car services in the aftermarket is expected to increase in the near future due to technological advancements and increase in demand for safety and comfort features in cars. According to a survey, the willingness to pay a subscription fee for connected services went from 21% in 2014 to 32% in 2015. Social media, live traffic, weather updates, and automatic emergency calling are the primary services for which customers are willing to pay monthly. The North American connected car market is estimated to be the fastest. In North America, the US and Canada are economically stable and have a higher standard of living and disposable income, which leads to the demand for high-end connected car services and connectivity solutions. Infrastructure availability in the US attracts the global OEMs and Tier I to test and develop fully connected autonomous vehicles, and supportive government policies help them test vehicles on the road. The connected car market comprises major manufacturers such as Continental (Germany), Bosch (Germany), HARMAN (US), Airbiquity (US), and Visteon (US), among others. Drivers
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Revenue Missed: Opportunities for Connected Car Manufacturers
Connected Car Market, Scenarios (2018-2027) Company Profiles Hardware Providers
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OEM Manufacturers
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For more information about this report visit https://www.researchandmarkets.com/r/6mmvws Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/global-215-billion-connected-car-market-forecast-to-2027-opportunities-in-technologies-such-as-5g-and-ai-300969972.html SOURCE Research and Markets |