Connected Cars Market to Exhibit a Staggering 26.4% CAGR; Driven by the...

Connected Cars Market to Exhibit a Staggering 26.4% CAGR; Driven by the Growing Incorporation of Machine Learning Algorithms, says Fortune Business Insights

23
0
SHARE


The MarketWatch News Department was not involved in the creation of this content.

Jun 29, 2020 (The Expresswire) —
The global connected cars market will derive growth from recent technological advancements. According to a report published b Fortune Business Insights, titledConnected Car MarketSize, Share and Industry Analysis, By Service (mobility, telematics, infotainment, driver assistance), By Connectivity (embedded, tethered, integrated),By Vehicle (passenger car, light commercial vehicle, heavy commercial vehicle), and Regional Forecasts, 2019-2025,”Connected cars are vehicles that are integrated with internet access, with an aim to ensure a communication medium with users as well as other cars over a defined network. They are used to provide information derived from real-time sources to users, with the aim of improving the overall user experience.

As connected cars operate over a wireless network, factors such as reliability and safety of the network are of utmost importance. There are increased efforts taken to minimize software hacks and malfunctioning of the device. The increasing initiatives taken to minimize and resolve safety related issued, coupled with the high investment to better device safety will aid the growth of the market in the coming years.

The report offers insights into the latest Connected Cars Market trends. It summarizes key aspects of the market, with focus on leading product types, areas that have witnessed the highest demand, leading regions, and applications. The report encompasses several factors that have contributed to market growth. Additionally, leading companies have been analysed and studied in detail through extensive research analysis methods.

Request a Sample Report:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/connected-car-market-101606

Technological Interventions Have Played a Key Role in Market Growth

Technology has played an important part towards the growth of the market in recent years. Incorporation of concepts such as data integration and machine learning have opened up a huge potential for market growth. The potential offered by connected cars have attracted several investors. Moreover, technological advancements have drawn the attention of government organizations as well as public organizations. The advent of smart connected electric cars has fuelled the demand for the product, which in turn will account for rapid growth of the market in the coming years. In February 2018, TomTom Audio Traffic announced the launch of a personalized traffic information system that allows communication with the driver over voice-programs. This concept will provide details related to traffic as well as condition of the route ahead, thereby providing a seamless driving experience for drivers. The benefits offered by such technologies will fuel the demand for the product in the forthcoming years.

Driven by Growing Connectivity Equipment, Asia Pacific Will Dominated the Market

The report segments the market based on regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific will emerge dominant, driven by the huge product adoption. Advancements in technologies and equipment associated with connected cars will contribute to the growing demand. Moreover, increasing number of company collaborations will yield high investments in product RandD, which will subsequently aid the growth of the market in Asia Pacific.

List of the leading companies that are operating in theConnected Cars Marketare:

  • TomTom International B.V
  • ATandT
  • Harman International
  • Audi (Germany)
  • BMW (Germany)
  • Continental AG (Germany)
  • Bosch (Germany)
  • General Motors (U.S.)

Browse Complete Report Details with Table of Content and Figures:
https://www.fortunebusinessinsights.com/industry-reports/connected-car-market-101606

About us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact us:
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
US :+1-424-253-0390
UK :+44-2071-939123
APAC :+91-744-740-1245
Email:sales@fortunebusinessinsights.com
Website:https://www.fortunebusinessinsights.com

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Connected Cars Market to Exhibit a Staggering 26.4% CAGR; Driven by the Growing Incorporation of Machine Learning Algorithms, says Fortune Business Insights

COMTEX_367508259/2598/2020-06-29T22:28:52

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

The MarketWatch News Department was not involved in the creation of this content.



Source link

LEAVE A REPLY