Europe Connected Car Market Description:
Europe Connected Car market report offers a complete analysis of the respective business models, key strategies and market shares of some of the essential players in this scenario. With an in-depth commentary on the main influencing factors, the full study offers market statistics in terms of revenues, data by segments and data by country. It is one of the most comprehensive documentation that captures all facets of the evolving connected car market in Europe.
Europe Connected Car Market overview:
Europe's connected car market is expected to reach USD 37.15 billion by 2026, growing at a compound annual growth rate of 7% (2021-2026).
The connected vehicle trend is emerging, in which European car manufacturers and automotive suppliers are developing several relevant solutions. Based on connectivity, the demand for integrated solutions, linked solutions, and others for connected cars has increased over the years. Likewise, the use of telematics and fleet management solutions for connected utility vehicles has expanded.
In September 2019, Continental launched Cosma Solution, a digital door opener for Honda E, which is an access solution based on smartphones that will allow Honda owners to open their vehicles or share the key with other people using only their smartphone. With the My Honda + application, customers can unlock the car remotely via Bluetooth Low Energy (BLE). The new Honda would be available from 2020 in Europe.
In July 2019, Bosch developed a new software service connected to the cloud to manage and monitor the battery life of electric vehicles. The new connectivity would allow companies to remotely monitor and manage battery status to reduce battery wear by up to 20%.
In June 2019, Airbiquity partnered with Wind River, a leader in the provision of IoT software for critical infrastructure, to develop an end-to-end software lifecycle management solution for connected and autonomous vehicles, extending from the car to the cloud. The solution would allow secure and intelligent OTA software updates and data management.
Europe Connected Car Market growth and trends:
Car manufacturers are focusing heavily on providing connectivity solutions in their vehicles to increase their car sales due to the growing need for connectivity. In addition, the increased willingness of consumers to stay connected to the outside world, even when traveling, encourages the adoption of connected cars worldwide. Also, integrating connectivity solutions into the vehicle has become a top priority for automakers, as consumers expect their vehicles to perform tasks similar to computers and smartphones.
The multiple connectivity solutions integrated into modern cars require Internet service to perform their respective functions. One of these connectivity solutions is used to provide an Internet connection to the driver and passengers traveling in the vehicle. By using a smartphone, modem or connectivity device, an access point can be created in the car to provide Internet access to all devices in the vehicle. As a result, the growing trend in connectivity solutions is driving the connected car business.
Europe Connected Car Market Drivers and Restraints:
The demand for a connected driving experience is increasing rapidly in this region. Major automakers and OEMs are working to make this a reality very soon. Safety-related regulatory initiatives will have a decisive effect on the adoption of OEM telematics across Europe.
The growing demand for electric vehicles by European consumers plays a crucial role in boosting the market for connected cars. Besides, the market is expected to gain strength due to the widespread adoption of mobile and wireless technologies.
Some governments within the EU are introducing various vehicle safety regulations and initiatives, which could be a positive move for manufacturers and dealers of connected cars. In addition, the availability of advanced telecommunications and road infrastructure will also continue to fuel the European connected car market.
OEMs in Europe face challenges in the form of rising costs, extended supply chains, more compact vehicles, growing customer demand and the need for unprecedented manufacturing flexibility.
Europe Connected Car Market Segmentation:
Based on the service, Europe connected car market is divided into fleet management, driver assistance, entertainment, safety and security, and autonomous driving. Of these, fleet management and safety & security segments account for the prominent share in the regional market. However, with the increasing technological advances, the autonomous driving segment is likely to witness rapid growth in the forecast period.
Based on technology, Europe connected car market is segmented as 2G, 3G, and 4G/LTE. Among these, the 4G/LTE segment holds the dominant portion due to the need for high-speed data connectivity in vehicles. It is also estimated to witness tremendous growth in the coming years.
Depending on the end-user, Europe connected car market is separated as original equipment manufacturers (OEMs) and aftermarket. OEMs among these are predicted to register the highest CAGR in the foreseen years, owing to the rise in demand from authentic components.
Europe Connected Car Market Regional Analysis:
The EU has always been very supportive of promoting connected car technology. European CEN and ETSI have established specific standards for cooperative information transport systems (ITS), in line with the European Commission's request for safer, more efficient and more sustainable transport. The latest standards oblige manufacturers to equip each car model with a GPS and 3G/4G connectivity. Also, the technology is expected to interconnect drivers with automakers, dealerships, and auto repair shops, which is a significant advance for the connected car market in Europe.
By Country – UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe
Europe Connected Car Key Market Players
The connected car market is dominated by major players.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Connected Car Market, By Service
6.1.1 Fleet Management
6.1.2 Driver Assistance
6.1.4 Safety & Security
6.1.5 Autonomous Driving
6.1.6 Market Size Estimations & Forecasts (2021-2026)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Connected Car Market, By Technology
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Connected Car Market, By End-User
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021-2026)
7.2.1 By Country
7.2.2 By Service
7.2.3 By Technology
7.2.4 By End-User
7.3.1 By Country
188.8.131.52 Rest of Europe
7.3.2 By Service
7.3.3 By Technology
7.3.4 By End-User
7.4 Asia Pacific
7.4.1 By Country
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 Rest of Asia-Pacific
7.4.2 By Service
7.4.3 By Technology
7.4.4 By End-User
7.5 Latin America
7.5.1 By Country
126.96.36.199 Rest of Latin America
7.5.2 By Service
7.5.3 By Technology
7.5.4 By End-User
7.6 Middle East and Africa
7.6.1 By Country
188.8.131.52 Middle East
7.6.2 By Service
7.6.3 By Technology
7.6.4 By End-User
8. Key Player Analysis
8.1 Robert Bosch GmbH
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Continental AG
8.3 Autoliv, Inc.
8.4 NXP Semiconductors
8.5 Denso Corporation
8.6 ZF Friedrichshafen
8.8 Aptiv Plc
8.9 Airbiquity Inc
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures