Connected Car Market

New Product Development is the Key Strategy Adopted by these Players to Gain Traction in the Connected Car Market.

Factors such as digitization in automotive, government mandates for safety, and increasing demand for convenient services have boosted the global connected car market. The global connected car is projected to grow at a CAGR of 14.8% from 2017 to 2025, to reach USD 219.21 Billion by 2025.

The connected car market is dominated by global players as well as several regional players. The key players that provide connected car technologies are Bosch (Germany), Continental (Germany), Delphi (UK), Denso (Japan), Valeo (Paris), and Harman (US). New product development is the key strategy adopted by these players to gain traction in the connected car market. For instance, in September 2017, Bosch (Germany) launched over the air update service for new and improved function of the car. Similarly. In hardware space Hella launched an innovative sensor based technology to provide the damage information of vehicle to the driver.

Continental (Germany) has adopted inorganic growth strategy such as acquisition, partnership and collaboration etc. to retain its position in the connected car market. For instance, in November 2017, Continental announced the successful acquisition of Israel based cybersecurity company namely Argus Cyber Security to strengthen its capabilities of connected car services with more secured platform. Moreover, in October 2017, Continental announced its new joint venture with China Unicom, named as Unicom Continental Intelligent Transportation Technology (Shanghai) Co., Ltd. The equally owned joint venture is formed after considering the demand of automotive software services in the most prominent country for technology, China. The company also adopted the organic growth strategy for expansion in connected car market. For instance, in September 2017, the company invested to develop the V2X systems based on Qualcomm 9150 C-V2X chipset and conducting trials in selected locations.

Bosch (Germany) adopted new product development to strengthen its market position. For instance, in September 2017, Bosch announced digital key for connected car through which the connected car can be locked or unlocked with the help of smartphone. Moreover, Bosch has launched its high precision maps in china along with collaboration of AutoNavi, Baidu and NavInfo to improve safety, comfort and convenience of the driver in China. The company also followed expansion strategy to enhance its position in connected car market. For instance, in August 2017, Bosch has invested more than USD 100 million into its manufacturing plant in china to develop the connected cars. Further, in June 2017, the company has invested billion dollars to develop and expand connected hardware product portfolio for automotive sector.

Harman (US) has adopted a mix of organic and inorganic growth strategies to grow in connected car market. For instance, Harman has extended its partnership with semiconductor company for automotive, NXP for developing innovative platforms of hardware and software for connected car. The company has also developed smart gateway of telematics for end-to-end software updates of connected car. The other innovative offering such as live map updates, remote over-the-air updates, Life Enhancing Intelligent Vehicle Solution (LIVS) suite and Harman ignite for cloud services of connected car have been launched in 2017. The company has also partnered with various technological companies such as Polycom, Airbiquity, and Symphony Teleca to strengthen it product offering of connected car services.

Related Reports:

Connected Car Market by Services (Connected, Safety & Security and Autonomous), Form (Embedded, Tethered and Integrated), End Market (OEM and Aftermarket), Network (DSRC and Cellular), Transponder (OBU and RSU), Hardware and Region - Global Forecast to 2025

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Report Code
AT 5974
Published ON
Feb, 2018
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