India Connected Car Market Size, Share, Forecast Report - 2025
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  • India Connected Car Market Size, Share, Forecast Report - 2025

    (Transportation-News.com, August 02, 2019 ) The automotive industry is witnessing fast-paced technological evolution to develop autonomous vehicles in the future. A connected car is one of the key technological developments that would help to expand the ecosystem of the automotive industry. Over the decades, automobile manufacturers have focused on the performance, stability, safety, and general comfort of the vehicle. With the growth of connectivity and digitalization, the automotive industry is moving toward software-and-services approach. Original equipment manufacturers (OEMs) and Tier I suppliers are constantly expanding their product offerings. Indian automobile manufacturers such as Maruti Suzuki, Mahindra, and Tata are collaborating with leading technology and service providers to offer connected solutions in passenger cars. The India Connected Car Market is projected to grow at a CAGR of 22.2% from 2019 to 2025, to reach USD 32.5 billion by 2025.



    View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/india-connected-car-market-150765405.html



    The connected car offers a wide range of services, such as navigation, cybersecurity, remote diagnostics, emergency calling, multimedia streaming, Over-the-Air (OTA) updates, remote operation, collision warning, auto parking, and auto pilot. With technological advancements in connectivity solutions for the automotive industry, the fast exchange of data would become a reality in the near future. With the increase in demand for convenience features and implementation of government mandates to increase the safety of drivers and passengers, many companies are adopting inorganic growth strategies to develop connected technologies. For instance, in April 2017, the leading auto parts maker Bosch partnered with key Indian app-makers such as Car Radio, Justdial, Overdrive, and UrSafe to develop the connected car technologies for India.

    The India connected car market is segmented by services/applications into telematics, ride sharing/hailing, and others. The telematics application is further categorized into two key features, navigation and infotainment. The ride sharing/hailing service includes the revenue of various services such as e-hailing, car sharing, station-based mobility, and car rental. The others sub-segment of service/application includes emerging segments such as OTA updates, safety & security, and autonomous driving. The others (OTA updates, safety & security, and autonomous driving) segment is estimated to be the fastest growing market for connected cars in India during the forecast period.



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    The India connected car market, by connectivity form factor, is segmented into embedded, tethered, and integrated. The embedded segment is estimated to be the fastest growing market during the forecast period. Increase in connected service offerings for economy segment cars by automobile manufacturers and government mandates are expected to drive the embedded segment.



    The India connected car market is segmented into four major hardware—smart antenna, display, ECU, and sensors. The sensors segment is estimated to be the fastest growing market during the forecast period. The ECU market is projected to grow at a significant rate due to increase in the number of electronic systems in a vehicle such as power control electronics, safety control electronics, infotainment, and body electronics.



    Critical Questions:



    • How will the trend of connected cars in India shape the automotive software market in the long term?

    • How will the implementation of emission norms and increasing adoption of EVs impact the market?

    • What changes can be expected in the connected car technology owing to increase in cybersecurity threats?

    • How can automotive software developers cater to the demand for advance technologies to integrate ADAS features in the vehicles?

    • What are the key strategies adopted by the leading players in this market?



    To speak to our analyst for a discussion on the above findings, click Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=150765405



    MarketsandMarkets™

    Mr. Shelly Singh

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    sales@marketsandmarkets.com

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