Market Overview

China Connected Vehicle Market to 2023: Demand for a Connected Driving Experience is Growing Rapidly in this Region - ResearchAndMarkets.com

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The "China
Connected Vehicle Market (2018-2023)"
report has been added to ResearchAndMarkets.com's
offering.

The China connected vehicle market is expected to show double-digit
growth rate. Chinese consumers are increasingly emphasizing on in-car
technology rather than on the price or engine performance when it comes
to buying of a car, and 40% are willing to change brands for better
connectivity. More than 75% of Chinese car buyers are expected to
increase spending on safety features, while 60 percent would pay more
for vehicle management features that monitor usage, run diagnostics, and
record accident data.

China is expected to be in the forefront for connected vehicle related
innovation in the years to come. The challenge now remains for the auto
industry to adopt the right mix of technology fit for China's driving
conditions and move towards dominating the global share of intelligent
connected cars.

More than 85% of Chinese car buyers would be eager to own an autonomous
car, which indicates that a majority of consumers trust vehicle
technologies with strong desires to transform in-car driving
experiences. Similarly, car buyers cited their major concerns relating
to autonomous driving to be 91% safety concerns, 86% cyber security, 83%
the legal implications, while 80% cited cost.

Key Growth Factors

  • Demand for a connected driving experience is growing rapidly in this
    region. Major auto-makers and OEMs are working to make this a reality
    very soon
  • China is expected to become one of the prominent markets by 2025 for
    connected cars owing to high growth in the automotive market and
    improved connectivity infrastructure across the region

Threats & Key Players

  • New laws mandate connectivity across all vehicles. China is yet to
    foresee this and accepting this across all automobile majors in the
    days to come is expected to be challenging
  • Increasing fuel prices is causing a credit crunch, and rising
    inflation is taking a toll on the global economy. The industry is also
    restricted by increasing regulations, sluggish demand, and increase in
    both fixed and marginal cost
  • Some of the key players operating in the market are: Autoliv,
    Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH,
    WirelessCar, and ZF Friedrichshafen

Key Topics Covered

Chapter 1: Executive Summary

Chapter 2: China Connected Passenger Car - Market Overview

Chapter 3: Connected Passenger Car Services - Value Proposition

Chapter 4: China Connected Truck - Market Overview

Chapter 5: Modular Strategy and Potential Analysis - Global Truck Market

Chapter 6: Companies Profiled

  • Autoliv
  • Continental AG
  • Denso
  • NXP Semiconductors
  • Robert Bosch GmbH
  • Wirelesscar

For more information about this report visit https://www.researchandmarkets.com/research/rrsp96/china_connected?w=4

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