Market Overview

Asia-Pacific Connected Vehicle Market (2018-2023) - ResearchAndMarkets.com

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The "Asia-Pacific
Connected Vehicle Market (2018-2023)"
report has been added to ResearchAndMarkets.com's
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The Asia-Pacific connected vehicle market is expected to reach $47.4
billion by 2023, expanding at a CAGR of 20% (2018-2023).

The Asia-Pacific connected passenger car market is expected to reach
$34.93 billion by 2023 at a CAGR of 22% (2018-2023) and the Asia-Pacific
connected truck market is expected to reach $12.47 billion by 2023,
expanding at a CAGR of 17% (2018-2023).

The connected vehicle ecosystem is evolving in which Asia-Pacific
connected car manufacturers and automotive OEMs are developing various
connected solutions. On the basis of connectivity, demand for embedded
solutions, tethered solutions, and integrated solutions for connected
passenger cars has increased over the years. Similarly, the use of
telematics and fleet management solutions for connected commercial
vehicles has risen.

Two of the world's fastest emerging economies are from the Asia-Pacific
- India and China, indicating ample growth opportunities for the
development of the connected car market. China has recently expanded
significantly in mobile connectivity technology, keeping customer
benefits as a priority and accordingly launching connectivity enabled
vehicles.

Autonomous vehicles are no more a thing of the future with various
sensors (LIDAR, RADAR) and processors placed in the vehicle, which
provide real time information and facilitate an autonomous driving
experience. Ride sharing companies are investing heavily in this region
and also entering into strategic collaborations to upgrade their
traditional vehicles to all-electric vehicles.

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
  • Asia-Pacific is expected to become the prominent market by 2025 for
    connected cars owing to high growth in the automotive market and
    developing connectivity infrastructures across the region

Threats & Key Players

  • New laws mandate connectivity across all vehicles. The Asia-Pacific
    region is yet to foresee this and its acceptance 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 increases
    in both fixed and marginal cost.
  • Some of the key players in the market are: Airbiquity Inc, Aptiv PLC,
    Autoliv, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH,
    TomTom, WirelessCar, and ZF Friedrichshafen.

Key Topics Covered

Chapter 1: Executive Summary

Chapter 2: Asia-Pacific Connected Passenger Car - Market Overview

Chapter 3: Connected Passenger Car Services - Value Proposition

Chapter 4: Asia-Pacific Connected Truck - Market Overview

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

Chapter 6: Companies Profiled

  • Airbiquity Inc.
  • Aptiv PLC
  • Autoliv
  • Continental AG
  • Denso
  • NXP Semiconductors
  • Robert Bosch GmbH
  • TomTom
  • WirelessCar
  • ZF Friedrichshafen

For more information about this report visit https://www.researchandmarkets.com/research/vjml9t/asiapacific?w=4

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