The connected vehicle use communication
techniques to communicate between the vehicle and users. The use of connected
vehicle have improved commutation times and vehicle efficiency. There are
various types of the communication techniques used types of communications such
as vehicle to vehicle (V2V), vehicle to infrastructure (V2I), vehicle to
pedestrian (V2P), vehicle to cloud (V2C) and vehicle to everything (V2X). The
use of connected technologies had improved considerably due to the use of
cameras, radar, lidar and other sensors. The on board communication equipment
at vehicles have a high range of alerts systems of dangerous situations and
prevent the major accidents.
Some of the major features of the connected
vehicles are vehicle tracking, safety & security, infotainment system,
Wi-Fi hotspots, automotive system diagnosis and prognosis, fleet management,
parking assistance, navigation, hands free control & voice commands, road
side assistance and contextual help and many others. Based on the applications
the connected vehicle can be segmented into dynamic mobility applications,
vehicle health monitoring, data capture & management, V2V and V2I
communication for safety and road weather management etc. In the connected
vehicles speed and the distance to other vehicles can be adjusted immediately
based on the response to conditions on the road. The voice recognition features
help the drivers to communicate with a virtual personal assistant to schedule
the routine work without being stopped to particular place while the vehicle’s
navigation system guides the car through traffic.
According to study, “South
Korea Connected Vehicle Market (2018-2023)” some of the major companies
that are currently working in the South Korea connected vehicle market are
Continental AG, NXP Semiconductors, Aptiv PLC, Robert Bosch GmbH, Denso, ZF
Friedrichshafen.
The connected vehicle market is categorized into
connected car market, connected truck market, connected bus market and
connected train market. Connected car market is segmented into wireless &
cellular modules, fleet manager, processors, sensors, original equipment
manufacturer (OEM) services and aftermarket services. On the basis of
technology, the market is segmented into 2G, 3G and 4G/LTE. On the basis of
application, the market is segmented into infotainment, navigation and
telematics. Additionally, on the basis of services, the market is segmented
into safety & security, connected services and autonomous driving services.
Ministry of Land, Infrastructure and Transport
(MOLIT) is a government regulating agency, which is responsible for connecting
communicating equipment in all new vehicles. Adding upon technology is confined
to smartphones or smart speakers, automakers are expected to provide artificial
intelligence software in a vehicle’s infotainment system. Moreover the market
of connected vehicle is mainly driven by increasing need for connectivity among
the customers. Followed by increasing in the technological advancements,
decreasing traffic congestion, reducing energy consumption, incorporation of
internet of things (IoT) based technologies; demand for vehicle-to-vehicle
(V2V) connectivity technology, and improving safety and demanding for an
autonomous driving experiencehave increased significantly which led to the
growth of the market.
It is estimated that the revenue of connected
car market will be reached at US $648 million by 2023. It is also estimated
that the country will be a prominent market due to improved connectivity
infrastructure and high growth in the automotive sector in the forecast period.
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