Allied Market Research published a report titled “Connected
Car Market (Technology, Connectivity Solutions, Product and services,
Applications and Geography) - Size, Share, Global Trends, Company Profiles,
Analysis, Segmentation and Forecast, 2013 – 2020.” The report offers incisive
information on the connected cars market and evaluates numerous market dynamics
such as market revenue trends, drivers and restraints.
The report forecast the connected cars market to attain amarket value of $141 Billion by 2020, with 32.7% CAGR during the 2014 - 2020.
Integrated connectivity segment would grow with the highest
adoption during the estimated period. The use of an efficient network
connection could convert a normal car into the connected car. Integrated connectivity is one of the 3
commercial solutions that provides network connectivity in a car or a vehicle.
This Integrated connectivity works by integrating a
smartphone with a human machine interface. The human machine interface is
nothing but an in-built machine designed to facilitate interaction between
humans and the machine. The work and efficiency of the integrated connectivity
solution entirely depends on the in-built applications, namely SDK (software
development kit) and API’s (Application Programming Interface).
“Consumers today, require constant internet access and
largely prefer connectivity solutions, which can function and network through
their personal mobile devices. This encourages the automobile manufacturers to
develop the very best solutions in regards to integrated connectivity. These connectivity devices may differ from
user to user in the form of hardware or the application platform used,” states
AMR analyst.
“In regards to this scenario, there is an impending need for
the manufacturers to develop a universal solution that is compatible with all
the connectivity devices, commonly.
Technological advancements in mobile computing, cloud computing, and
multimedia connectivity, should pave way for the rise and growth of the
connected cars market,” adds the analyst.
