Market Overview

South Korea Connected Vehicle Market 2018-2023: Key Growth Factors and Threats - ResearchAndMarkets.com

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

The South Korea connected vehicle market is expected to show
double-digit growth rates.

Domestic tech companies and automobile manufacturers are either
releasing new systems or widening access to previously exclusive
technology, in the race to establish control over the nascent South
Korean connected car market.

Futuristic vehicle information services or infotainment services are a
part of these systems that entail the application of rapidly improving
AI capabilities into the driving ecosystem, particularly for carrying
out destination searches in navigation software, music volume moderation
and safety inspections using voice commands.

Hyundai and Kia will begin to include Kakao's AI platform, the Kakao I,
previously available only on their high-end vehicles, in their low-end
models like the Hyundai Sonata, Hyundai Avante and Kia Sportage lines.

Telecom providers are also jumping into the fray, with the nation's
leading operator SK Telecom releasing T Map x NUGU. A union of SK
Telecom's AI technology NUGU along with its GPS and navigation service T
Map, the hybrid software, was downloaded by more than 3 million users in
just 18 days after launch, which shows rapid adoption of connected car
technologies.

Key Growth Factors

Demand for a connected driving experiences is growing rapidly in this
region. Major auto-makers and OEMs are working to make this a reality
very soon.

South Korea is expected to become one of the prominent markets by 2025
for connected cars owing to high growth in the automotive market and
enhanced connectivity infrastructures across the region.

Threats

Increasing fuel prices are causing a credit crunch, and rising inflation
is taking a toll on the global economy. The industry is also restricted
by increasing regulations, slumping demand, and increase in both fixed
and marginal cost.

Key Topics Covered

Chapter 1: Executive Summary

Chapter 2: South Korea Connected Passenger Car - Market Overview

Chapter 3: Connected Passenger Car Services - Value Proposition

Chapter 4: South Korea Connected Truck - Market Overview

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

Chapter 6: Companies Profiled

  • Aptiv PLC
  • Continental AG
  • Denso
  • NXP Semiconductors
  • Robert Bosch GmbH
  • ZF Friedrichshafen

For more information about this report visit https://www.researchandmarkets.com/research/52n6rg/south_korea?w=4

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