This Europe Connected Cars market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Europe Connected Cars market.
Connected cars are considered to be the future of automobile industry. In addition to wireless LAN devices, connected cars have active safety solutions and automated driver assistance systems. Enabling car owners to connect with all the connectivity devices that are inside and in the vicinity of cars, connected cars also assure to maintain safe distance between cars on roads.
These cars also allow drivers to mechanically monitor cars’ performance and physical condition. The connected car technology can also be used to connect to cars through smartphones or other mobile devices.
Research indicates that the market for connected cars, after 2010, has been growing in a nascent stage each year. Providing a wide range of opportunities to automotive and telecom industries, as well as consumers, the market is anticipated to gain mass penetration and witness substantial growth in the near future.
Europe, which is currently the second largest market for connected cars, is estimated to outpace North America and create the largest market by 2020 end. Rising demand for vehicle safety and security will continue to be a key driver for market growth.
Europe Connected Cars Market: Key Drivers
Increasing demand for electric vehicles from European consumers is playing a crucial role in boosting the market for connected cars. Moreover, the market is predicted to gain traction due to widespread adoption of mobile and wireless technologies.
Some governments within EU are introducing various regulations and initiatives regarding vehicles safety, which could be a favourable move for connected car manufacturers and dealers. In addition, availability of advanced telecom and road infrastructure will also continue to fuel the European market for connected cars.
- While the connected car technology and smartphone technology are conjoint in this industry, the difference in their lifecycles is significant. Car development is a five-year cycle but the smartphone is developed within a much shorter time span. This is expected to act as a major restraint for connected cars in tandem with smartphone technology.
- Moreover, car manufacturers will need long-term, compatible mobile partners, which is currently a challenge.
- A recent survey concluded that many consumers from the U.K., Netherlands, Germany, France, Sweden, Spain, and Italy are concerned about the lack of standards across connected car manufacturers. This is anticipated to be a major barrier in the market.
- Research reflects significant reluctance among consumers about data privacy and digital safety. A sizeable consumer population still prefers to personalise their cars’ web connection via smartphones’ USB or Bluetooth, rather than buying a connected car with built-in options. This is another factor that could be a major roadblock to market.
- Furthermore, many people are not yet ready to pay separately for embedded car connection, which is foreseen to be a setback for the market in Europe.
Segmentation: Europe Connected Cars Market
Europe Estimated to Surpass the Current Market Leader, North America The EU has always been highly supportive in promoting the connected car technology. The European CEN and ETSI have set certain standards for cooperative intelligence transport systems (ITS), as per the demand from the European Commission for safer, more efficient, and more sustainable transport. The latest standards make it mandatory for manufacturers to equip each car model with a GPS system and 3G/4G connectivity. Moreover, the technology is expected to interconnect drivers with automakers, dealers, and auto repair shops. This has been a major breakthrough for the connected cars market in Europe.
Influential Trends in the Connected Cars Market
Complete smartphone integration, teen drivers’ monitoring, digital dashboards, GPS navigation systems with travel guidance, and self-driving (driverless cars) technology are the most notable trends in the connected cars industry, in Europe and globally.
In the recent past, Volvo has launched a corporate initiative, according to which self-driving cars and autonomous driving features will be in market in the near future. The company’s Drive Me Project in 2017 also featured 100 self-driving Volvos on public roads.
Key Players: European Connected Cars Market
Key players in the European connected cars market include Apple, Inc., Airbiquity, Inc., BayerischeMotorenWerke AG (BMW), Delphi Automotive LLP, Ford Motor Company, Microsoft Corporation, TATA Consultancy Services Ltd., Toyota Motors Corp., Verizon Communications, Inc., and AT&T, Inc.
Major car manufacturers have already started taking efforts toward smartphone integration to cater to connectivity demand from consumers. Since several companies from telecom and software verticals are rapidly entering the connected cars market, OEMs are expected to concentrate on strengthening their hold in the market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data.It also contains projections usinga suitable set of assumptions and methodologies. The report provides analysis and information according to categories such as market segments, geographies, types, technology and applications. The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- Eastern Europe
- Rest of the Europe
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Segmentation: Europe Connected Cars Market
On the basis of application, the market is segmented into
- safety and security
On the basis of technology, the market is segmented into
- long-term evolution (LTE)
- High Speed Packet Access (HSPA)
On the basis of hardware, the market is segmented into
- memory device
- cellular module
On the basis of service, the market is segmented into
- original equipment manufacturers (OEMs) services
- connected services
- after-market services
- other services (e.g. safety services).
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Europe Connected Cars Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Europe Connected Cars Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Europe Connected Cars Market report?
In addition to up-to-date market figures and customized of the Europe Connected Cars Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.