According to study, “North America Connected Vehicle Market (2018-2023)” some of the major companies that are currently working in the North America connected vehicle market are Airbiquity Inc, Continental AG, Robert Bosch GmbH, Denso, WirelessCar, NXP Semiconductors N.V., TomTom N.V., ZF Friedrichshafen, Autoliv, Aptiv PLC., Telefonica S.A, Harman International Industries Incorporated, Verizon Communications Inc., AT&T, Ford Motor Company, Vodafone Group Plc., Bayerische Motoren Werke AG, Daimler AG, AUDI AG.
Connected vehicle is a means of transportation, which uses various technologies for communication between vehicles and infrastructure. The communication may be of various types such as vehicle to vehicle (V2V), vehicle to infrastructure (V2I), vehicle to device (V2D), vehicle to cloud (V2C) and vehicle to pedestrian (V2P). Connected vehicle use various type of wireless connectivity such as Wi-Fi, cellular and dedicated short series transportation in many different ways. Connected vehicles have decreased the large volume of vehicle crashes and recovers traffic flow on all roadways. Some of the essential features of the connected vehicle market are automotive system diagnosis and prognosis, Wi-Fi hotspots, fleet management, parking assistance, navigation, road side assistance,hands free control & voice commands and contextual help and many others.
The connected vehicle market by type is segmented by connected truck market, connected car market, and connected bus market and connected train market. The connected car market includes wireless & cellular components, processors, fleet manager, sensors, original equipment manufacturer (OEM) services and the aftermarket services.
The connected vehicle assist the services such as vehicle spot, climate information, traffic information, stock information, seller service contact, vehicle alarm warning, content message display, distant door lock & unlocks, concierge services, automatic crash notification, vehicle alerts & diagnostics and emergency services etc.
The United States holds the major share in the region for the connected car technology and implementing M2M connectivity. The National Highway Transportation Safety Administration (NHTSA) and The United States Department of Transportation (USDOT) are government regulatory authorities which take care for connecting communication apparatus in all new vehicles. In addition, USDOT also provide various technologies like Dedicated Short Range Communication (DSRC), which provides isolation and safety protection. Additionally, the American Association of State Highway and Transportation Official (AASHTO) have worked with USDOT for providing analyzing the connected vehicles market followed by better approaching field infrastructure concepts of the connected vehicle. These concepts include designs of distinctive deployments at rural roadways, urban freeways and international border crossings.
Connected vehicles have provided highway safety, enhanced mobility and security. Increase in the income, use of smart-phones, e-commerce followed by risein the need of connectivity created significant opportunity for the connected vehicle market to grow. However, increased cost, extended supply chains, complex vehicles, and the increased customer demands might impact the growth of market.
In the near future, it is predicted that all vehicle to be transformed into communication objects. These vehicles will provide new experience to users due to high speed internet and new hi-tech devices. During 2018-2023, it is expected that connected truck market and connected passenger market will be reached at USD 14.4 billion and USD 13.4 billion respectively. It is estimated that the North America connected vehicle market will be reached at USD 27.9 billion, at a CAGR of 8.0 %, by 2023.
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Ankur Gupta, Head Marketing & Communications