Factors such as growing demand for smart mobility solutions and the emergence of startups for connected technologies have boosted the India connected car market. The India connected car market is projected to grow at a CAGR of 22.2% from 2019 to 2025, to reach USD 32.5 billion by 2025.
The India 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), Denso (Japan), NXP (Netherlands), Garmin (US), and Harman (US). Partnership is the key strategy adopted by these players to gain traction in the India connected car market. For instance, in November 2017, Harman joined hands with Polycom to release new features for the Media Suite. This digital solution will help to access the media content from home to connected car. Similarly, leading auto parts maker Bosch is tying up with key Indian app-makers such as Car Radio, Justdial, Overdrive, and UrSafe to develop the connected car technologies for India.
Bosch (Germany) adopted the strategy of new product development to strengthen its market position. For instance, in September 2017, Bosch launched the automotive over-the-air updates service with encrypted technology for new and improved functions of the car. Moreover, the company announced the launch of ‘mySpin,’ a smartphone integrating automotive solution, for India connected car market. Bosch also followed the expansion strategy to strengthen its position in the India connected car market. For instance, in February 2017, Bosch invested approximately USD 1.87 billion in India to enhance its operations in the country. It also opened a new Research & Technology Center (RTC) in Bangalore to develop the connected car technology.
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NXP (Netherlands) adopted the new product development strategy to retain its position in the India connected car market. For instance, in October 2017, NXP announced the launch of NXP S32, a new automotive processing platform, for OEMs and Tier 1 suppliers. The platform can re-use the codes and software for providing OTA updates. Moreover, in September 2017, the company launched a chip named SAF5400, which uses RFCMOS and SDR technologies to deliver flexible options for cross-regional secure V2X adoption and field upgradeability. The company also adopted inorganic growth strategies such as partnerships and collaborations in the India connected car market. For instance, in September 2017, NXP partnered with Chinese automobile manufacturer Changan Automobile to make infotainment products and solutions and develop industry standards for future vehicle semiconductors.
Harman (US) adopted a mix of organic and inorganic growth strategies in the India connected car market. For instance, Harman has extended its partnership with semiconductor company for automotive, NXP, for developing innovative hardware and software platforms for connected cars. The company has also developed a smart gateway of telematics for end-to-end software updates of connected cars. Other innovative offerings, such as live map updates, remote over-the-air updates, Life-Enhancing Intelligent Vehicle Solution (LIVS) suite, and Harman Ignite platform for cloud services of connected car have been launched in 2017. The company also partnered with various technological companies, such as Polycom, Airbiquity, and Symphony Teleca, to strengthen its product offerings.
India Connected Car Market by Service/Application (Telematics, Ride Sharing, OTA Updates), Form Factor (Embedded, Tethered, and Integrated), Platform (Android Auto, CarPlay, MirrorLink), Connectivity (Cellular and DSRC), and Hardware - Forecast to 2025
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