According to the new market research report “Connected Car Devices Market by Communication Type (V2V, V2I, V2P), Connectivity Type (DSRC, Cellular Network), Product Type (Das, Telematics), Vehicle Type (PC, LCV & HCV), Electric Vehicle Type (BEV, HEV, PHEV, FCV) and Region – Global Forecast to 2021” published by MarketsandMarkets™, the global connected car devices market is projected to grow at a CAGR of 16.3% from 2016 to 2021, to reach USD 57.15 Billion by 2021. Some of the major factors responsible for the growth of the market are government regulations for safety and increasing electrification of vehicles.
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Demand for navigation services, increasing number of accidents, rising vehicle thefts, and security issues are the factors driving the adoption of telecom services in the automotive industry. Connecting a car with the network enables it to access many services such as safety, information, navigation, and remote diagnostics easily and efficiently. BMW offers integrated sim card services, which help to make calls and use the internet without connecting the cell phone to the vehicle. As the automotive industry offers a great opportunity for the telecom companies to invest and grow, this can lead to the growth of onboard internet services in automobiles.
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Dedicated Short Range Communication (DSRC): Promising technology in connected car devices
Connected car devices with DSRC as connectivity use short range communication technologies such as Radar and Lidar, which are designed for a communication range up to 1000 feet. DSRC allows rapid communications between connected car networks, and is used for various applications in the modern automobiles. The high demand for DSRC can be attributed to several advantages offered by the technology in connected vehicle applications. DSRC as connectivity technology is used in various vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) applications such as adaptive cruise control, park assist systems, and collision avoidance system among others. The market for these technologies is growing rapidly and regulatory bodies in Europe and North America are planning to mandate some of these technologies.
Telematics Systems: Upcoming mandates in Asia-Pacific to drive the demand
The global connected car devices market is estimated to be dominated by the telematics devices during the review period. Telematics systems have been mandated in all passenger cars in most of the advanced economies of Europe and North America. Furthermore, Asian countries such as China and India are investigating the benefits of telematics technology as well. The regulation regarding telematics mandate is estimated to be followed from 2019 onwards. These factors make the telematics devices one of the most prominent technologies in the connected car devices market.
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Increasing penetration of telecommunication services in automotive industry drive the growth of reed sensor market
Vehicle to Vehicle
Vehicle-to-vehicle (V2V) is a technology that is designed to establish communication among automobiles. Vehicle-to-vehicle is a short range type of communication. This technology requires wireless transmission of data between vehicles. The main reason for the development of such technologies is to prevent accidents by allowing vehicles in transit to send position and speed data to one another over an ad-hoc mesh network.
Vehicle-to-Infrastructure (V2I) is a technology that is designed to establish communication between vehicles and other entities such as roadside units, signs, and traffic lights. In V2I, the infrastructure plays a coordination role by gathering global or local information on traffic and road conditions and then suggesting or imposing certain behaviors on a group of vehicles. The basic components of a V2I communication system are On-Board Unit or Equipment (OBU or OBE), Roadside Unit or Equipment (RSU or RSE), and safe communication channel.
Vehicle-to-Pedestrian (V2P) technology is used to establish communication between vehicles and pedestrians. This technology was developed to avoid the pedestrian fatalities. The V2P approach encompasses a broad set of road users including people walking, children being pushed in strollers, people using wheelchairs or other mobility devices, passengers embarking and disembarking buses and trains, and people riding bicycles. Most of the OEMs and Tier1 suppliers are working toward the development of such high-end technologies. Recently, Honda displayed its vehicle-to-pedestrian technology that will be implemented in its upcoming cars.
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