In-Vehicle Connectivity Market is set to see healthy CAGR during 2018 to 2024

****** In-Vehicle Connectivity Market size will rapidly grow in the coming years due to growing demand for convenience, safety, luxury, and comfort among consumers. The in-vehicle connectivity allows enterprises to better manage their fleet as well as provide customer satisfaction and loyalty. The rising internet penetration coupled with the increasing adoption of IoT is proliferating the market growth. The advent of advanced technologies, such as artificial intelligence in in-vehicle connectivity services, will cater to the increasing demand for on-demand mobility services and smart transportation.

The increasing demand for real-time surveillance and video streaming capability to monitor, analyze, and diagnose patients on the road will proliferate the in-vehicle connectivity market. These features will improve the emergency and telematics services, resulting in improved customer experience. The rise in dependency on technology coupled with a surge of tech-savvy users will contribute to the in-vehicle connectivity market. The supportive government initiatives and regulations to increase the number of connected vehicles on roads will boost market growth. For instance, in April 2018, the European parliament enforced the regulation mandating E-call systems in vehicles, ensuring passengers’ safety. Remote direction.

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Parallel growth for Internet Service Providers (ISP) is anticipated to drive the growth of in-vehicle connectivity market. Parallel growth of ISP will influence the connected vehicles market as well as enable connectivity systems embedded within the car for a hassle-free driving experience. The increase in the demand for driver assistance systems is expected to drive the growth of market as it will help in hassle-free parking and fuel purchase from dashboards without requiring any cards or devices to complete the purchase.

By vehicle type, passenger vehicles are anticipated to hold the largest market share in the in-vehicle connectivity market due to the growing demand for luxury, safety, convenience, and comfort in the vehicle environment. The increasing demand for in-vehicle infotainment, payment services for hassle-free, secure, and safe driving experience is fueling the market. The growing demand for road-side assistance through telematics solutions in passenger vehicles is anticipated to drive the market.

Asia Pacific is estimated to grow at a significant CAGR in the in-vehicle connectivity market due to rising disposable income and spending on luxury & premium vehicles in developing countries including China, India, and Indonesia. The growing IoT infrastructure development coupled with the rising internet penetration will contribute to the market growth in the region. The presence of prominent automakers, such as Toyota, Honda, and technology players such as Alibaba in the region, are supporting the market growth.

OEMs are focusing on developing partnerships with infotainment players, infrastructure, cybersecurity, and application design & development. For instance, in July 2018, Ford partnered with Baidu for joint development of technology related to connectivity and infotainment systems. According to the partnership, Baidu is expected to supply its DuerOS conversational AI platform for future infotainment systems enable more sophisticated voice recognition and other features in vehicles manufactured by Ford.

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The introduction of over-the-air (OTA) services in in-vehicle connectivity will enable the transmission of software updates & data between the cloud and a vehicle, mitigating the cyber threat and software recall costs for automakers as well as offering hassle-free driving experience. For instance, ****** automakers are anticipated to save over USD 34 billion by 2022 through OTA services.

Some of the key market players of in-vehicle connectivity market, which include automotive manufacturers are Audi AG, Baidu, Inc., BMW AG, Continental AG, Daimler AG, Ford Motor Company, General Motors Company, Harman International Industries Inc., Honda Motor Co. Ltd., Hyundai Motor Corporation, IBM Corporation, Panasonic Corp., Tesla Inc.,  Toyota Motor Corporation, and Volvo AB.

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