Facto Market Insights has carefully uploaded a smart research report titled Asia-Pacific Connected Vehicle Market Growth, Capacity, Scope, Revenue, Key-Players, and Forecast until 2023, to its broad online database. The concerned market is discoursed based on a variety of market influential factors such as drivers, opportunities and restraints. This study tends to inform the readers about the current as well as future market scenarios extending up to the period until forecast period limit; 2024. The research study examines the "keyword" on the basis of a number of criteria, such as the product type, application, and its geographical presence.
The Asia-Pacific connected vehicle market is expected to reach USD 47.4 Bn by 2023, expanding at a CAGR of 20% (2018-2023). The Asia-Pacific connected passenger car market is expected to reach USD 34.93 Bn by 2023 at a CAGR of 22% (2018-2023) and the Asia-Pacific connected truck market is expected to reach USD 12.47 Bn by 2023, expanding at a CAGR of 17% (2018-2023).
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The connected vehicle ecosystem is evolving in which Asia-Pacific connected car manufacturers and automotive OEMs are developing various connected solutions. On the basis of connectivity, demand for embedded solutions, tethered solutions, and integrated solutions for connected passenger cars has increased over the years. Similarly, the use of telematics and fleet management solutions for connected commercial vehicles has risen.
Two of the world's fastest emerging economies are from the Asia-Pacific - India and China, indicating ample growth opportunities for the development of the connected car market. China has recently expanded significantly in mobile connectivity technology, keeping customer benefits as a priority and accordingly launching connectivity enabled vehicles.
Autonomous vehicles are no more a thing of the future with various sensors (LIDAR, RADAR) and processors placed in the vehicle , which provide real time information and facilitate an autonomous driving experience. Ride sharing companies are investing heavily in this region and also entering into strategic collaborations to upgrade their traditional vehicles to all-electric vehicles.
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Key growth factors
o Demand for a connected driving experience is growing rapidly in this region. Major auto-makers and OEMs are working to make this a reality very soon
o Asia-Pacific is expected to become the prominent market by 2025 for connected cars owing to high growth in the automotive market and developing connectivity infrastructures across the region
Threats and key players
o New laws mandate connectivity across all vehicles. The Asia-Pacific region is yet to foresee this and its acceptance across all automobile majors in the days to come is expected to be challenging
o Increasing fuel prices is causing a credit crunch, and rising inflation is taking a toll on the global economy. The industry is also restricted by increasing regulations, sluggish demand, and increases in both fixed and marginal cost.
o Some of the key players in the market are:- Airbiquity Inc, Aptiv PLC, Autoliv, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH, TomTom, WirelessCar, and ZF Friedrichshafen.
What's covered in the report?
1) Overview of the Asia-Pacific connected vehicle market
2) Evolution of connected car solutions
3) Connected vehicle ecosystem
4) Connected vehicle- integration landscape model
5) Total number of embedded passenger car solutions in Asia-Pacific by value (USD Bn) and volume (Mn units) 2018-2023,CAGR, and SWOT analysis for embedded solutions
6) Total number of integrated passenger car solutions in Asia-Pacific by value (USD Bn) and volume (Mn units) 2018-2023, CAGR, and SWOT analysis for integrated solutions
7) Total number of tethered passenger car solutions in Asia-Pacific by value (USD Bn) and volume (Mn units) 2018-2023, CAGR, and SWOT analysis for tethered solutions
8) Value proposition for connected passenger car services
9) Value proposition for original equipment manufacturers (OEM's)- connected passenger car services
10) Total number of fleet management solutions in Asia-Pacific by value (USD Bn) and volume (Mn units) 2018-2023 and CAGR
11) Value proposition for connected truck services
12) Modular strategy - truck manufacturers and OEMs
13) Key opportunities in the Asia-Pacific connected vehicle market
14) Key market trends in Asia-Pacific connected vehicle market
15) Analysis of company profiles of major public and private players operating in the market
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