The North America connected vehicle market is expected to reach USD 27.93 Bn by 2023, expanding at a CAGR of 8% (2018-2023). North America connected passenger car market is expected to reach USD 13.47 Bn by 2023, expanding at a CAGR of 6% (2018-2023), and the North America connected truck market is expected to reach USD 14.46 Bn by 2023, expanding at a CAGR of 9% (2018-2023).
The connected vehicle ecosystem is evolving in which North America 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.
The U.S. was one of the first countries to adopt connected car technologies and implement M2M connectivity in the automotive sector. Five years down the line, vehicles will be transformed into communication objects, providing a completely new experience. New hi-tech devices, smart phones, high-speed internet, various applications andopen sources such as android systems have transformed the concept of connected vehicles.
North America is expected to lead in the connected truck market given the boom being experienced by the e-commerce segment. A connected environment for supply chain management between all the key stakeholders is required for smooth movement of goods and traffic. This is driving a more connected ecosystem and can be seen as a major driver to adopt new technologies by fleet managers.
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Key growth factors
o Demand for an autonomous driving experience in maximum in this region, according to forecasts along with the technological advancements and increasing the need for connectivity among the customers and are the primary drivers for the connected vehicle market in the North American region.
o In North America, commercial and regulatory initiatives have recently driven the adoption of OEM telematics services.
Threats and key players
o Growing tension is building up between not incumbent automotive players and a new wave of companies/start-ups.
o Autonomous vehicles will cause disruption to the automobile industry, but critical challenges include concerns over infrastructure, liability and other legal issues.
o Some of the key players operating 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 North America 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 North America 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 North America 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 North America 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 (OEMs) – connected passenger car services
10) Total number of fleet management solutions in North America 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 North America connected vehicle market
14) Key market trends in North America connected vehicle market
15) Analysis of companies profiles of major public and private players operating in the market
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1. Understand the demand for connected vehicle products and services to determine the viability of the business.
2. Determine the developed and new markets where connected vehicle technology is consumed.
3. Formulate a product market strategy based on the position in the value chain and determine the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products and services with the key players in the market.
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