Market Overview

North America $27.93 Bn Connected Vehicle Market 2018 - Forecast to 2023 - ResearchAndMarkets.com

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

The North America connected vehicle market is expected to reach USD
27.93 Bn by 2023, expanding at a CAGR of 8% (2018-2023)

North America connected passenger car market is expected to reach USD
13.47 Bn by 2023, expanding at a CAGR of 6% (2018-2023), and the North
America connected truck market is expected to reach USD 14.46 Bn by
2023, expanding at a CAGR of 9% (2018-2023).

The connected vehicle ecosystem is evolving in which North America
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.

The U.S. was one of the first countries to adopt connected car
technologies and implement M2M connectivity in the automotive sector.
Five years down the line, vehicles will be transformed into
communication objects, providing a completely new experience. New
hi-tech devices, smart phones, high-speed internet, various applications
and open sources such as android systems have transformed the concept of
connected vehicles.

North America is expected to lead in the connected truck market given
the boom being experienced by the e-commerce segment. A connected
environment for supply chain management between all the key stakeholders
is required for smooth movement of goods and traffic. This is driving a
more connected ecosystem and can be seen as a major driver to adopt new
technologies by fleet managers.

Key growth factors

  • Demand for an autonomous driving experience in maximum in this region,
    according to forecasts along with the technological advancements and
    increasing the need for connectivity among the customers and are the
    primary drivers for the connected vehicle market in the North American
    region.
  • In North America, commercial and regulatory initiatives have recently
    driven the adoption of OEM telematics services.

Threats and key players:

  • Growing tension is building up between not incumbent automotive
    players and a new wave of companies/start-ups.
  • Autonomous vehicles will cause disruption to the automobile industry,
    but critical challenges include concerns over infrastructure,
    liability and other legal issues.
  • Some of the key players operating in the market are: Airbiquity Inc,
    Aptiv PLC, Autoliv, Continental AG, Denso, NXP Semiconductors, Robert
    Bosch GmbH, TomTom, WirelessCar, and ZF Friedrichshafen.

For more information about this report visit https://www.researchandmarkets.com/research/tcrkjj/north_america_27?w=4

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