Continental AG (Germany) and Denso Corporation (Japan) are the Top Players in the Connected Car Devices Market
Growing stringency of safety regulations and increasing demand for luxury and comfort have changed the market dynamics for vehicle manufacturers globally. The global connected car devices market is projected to grow at a CAGR of 16.3% during the forecast period, to reach USD 57.15 Billion by 2021. North America and Europe were estimated to be the prominent markets for advanced systems such as adaptive cruise control and lane departure warning system in 2016, owing to the new safety mandates introduced in recent years.
For instance, European New Car Assessment Program (Euro NCAP) has included lane departure warning and adaptive cruise control in its five star rating program, which has accelerated the market for these two systems. Asia-Oceania is estimated to be the largest market for connected car devices, owing to increasing passenger car production and growing penetration of luxury cars in countries such as China and Japan. Alternatively, owing to the lenient safety regulations and inclination towards economical and mid-range cars, the future demand for connected car technologies in countries such as China, India, Indonesia, and Thailand will be steady. However, factors such as increased buyer preference for safety and comfort, upcoming safety regulations, and technological advancements in countries such as Japan and South Korea are set to boost the market for connected car devices in the Asia-Oceania region in the long term.
The top players in the connected car devices market include Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive, PLC (U.K.), Robert Bosch GmbH (Germany), and Autoliv, Inc. (Sweden) among others. Continental AG is one of the major suppliers of connected car devices to automotive OEMs including Daimler AG (Germany), Fiat-Chrysler (U.K.), Ford Motor Company (U.S.), General Motors (U.S.), and Volkswagen (Germany). New product development is a key strategy predominantly used by these companies. Continental AG has been concentrating on developing a robust product line by acquiring key technologies from various companies. For instance, in March 2016, the company announced the acquisition of Advanced Scientific Concepts, Inc. (U.S.) for its leading Hi-Res 3D Flash LIDAR technology. This would help to diversify its driver assistance systems product portfolio for Vehicle-to-Everything (V2X) applications.
Another important player in the connected car devices market is Delphi Automotive, PLC (U.K.). The company is one of the key suppliers of electronic components to the automotive industry and provides critical components, systems, and advanced software for passenger safety, security, comfort, and infotainment. Delphi’s major customers include leading OEMs in the automotive industry such as General Motors (U.S.), Volkswagen (Germany), Ford Motor Company (U.S.), and Daimler AG (Germany). The company is constantly launching state-of-the-art products on a global scale; this has increased its customer base and expanded its presence in the global market. In September 2014, Delphi Automotive, PLC developed its first vehicle-to-vehicle and vehicle-to-infrastructure communication technology. Radio signals were used to transmit traffic data from car to car to alert the driver of potential road hazards. This technology can alert the driver about a number of traffic situations ahead, including road condition hazards, road work, emergency vehicle warning, stationary or slow-moving vehicles, traffic jams, and accidents, as well as traffic signals or signage indicators.
Other major players in the connected car devices market include Denso Corporation (Japan), Robert Bosch GmbH (Germany), and Autoliv, Inc. (Sweden) among others. These companies are mainly focusing on expanding their regional presence to achieve continuous and sustainable development. This is evident from several collaborations and joint venture projects that these companies have undertaken in recent years.
Related Reports:
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
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