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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