Connected Mobility Solutions Market Analysis
The connected mobility solutions market size is predicted to develop at a 19% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Connected mobility, simply put, is the interlinking of services and systems both outside and inside a car through the internet, enabling the driver and passengers to take pleasure of a smoother ride.
Various factors are propelling the global connected mobility solutions market share. According to the recent MRFR report, such factors include a rising number of technology providers, growing penetration of electric and smart cars, adoption of connected mobility devices, and the integration of IoT in connected mobility solutions.
On the contrary, lack of IT and communication infrastructure, especially in developing regions, lag in government norms, and the on-going COVID-19 impact are factors that may limit the global connected mobility solutions market growth over the forecast period.
The MRFR report highlights an inclusive segmental analysis of the global connected mobility solutions market based on technology, applications, and connectivity form factor.
By technology, the global connected mobility solutions market is segmented into LTE, 3G, HSPA+, Bluetooth, and Wi-Fi. Of these, the Wi-Fi segment will lead the market over the forecast period.
By applications, the global connected mobility solutions market is segmented into infotainment, telematics, and navigation. The navigation segment is again segmented into real-time data capturing and management, and road & vehicle monitoring, the telematics segment is again segmented into car to infrastructure, car to car, and in-car, and the infotainment segment is again segmented into communication and entertainment.
By connectivity form factor, the global connected mobility solutions market is segmented into embedded connectivity, integrated connectivity, and tethered connectivity. Of these, the embedded connectivity segment is predicted to dominate the market over the forecast period.
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By region, the global connected mobility solutions market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA). Of these, North America will spearhead the market over the forecast period. Technological advances in Canada and the US, new technologies discovered by automobile companies to reduce road accidents and offer a safe journey experience, increasing adoption of IoT, the latest trend of connected cars in the US, and the proliferation of the internet and connectivity solutions are adding to the global connected mobility solutions market growth in the region. Besides, increasing uptake of such solutions and encouraging research and development activities in related domains are also adding market growth.
The global connected mobility solutions market in Europe is predicted to hold the second-largest share over the forecast period. Increasing investments in connected mobility solutions, rising uptake of advanced & innovative technologies, growing demand in the automotive industry, funding for research and development activities from private sectors, and encouraging government support are adding to the global connected mobility solutions market growth in the region.
The global connected mobility solutions market in the APAC region is predicted to have fast growth during the forecast period at a high CAGR. Increasing developments in technologies in Japan, China, and India, growing adoption of electric and smart vehicles, and increasing extensive research & development activities in the booming automotive sector are adding to the global connected mobility solutions market growth in the region.
The global connected mobility solutions market in LAMEA is predicted to have sound growth over the forecast period.
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Leading players profiled in the global connected mobility solutions market report include NXP Semiconductors N.V. (Netherlands), HUBER+SUHNER (Switzerland), Deutsche Telekom AG (Germany), Molex Incorporated (U.S.), Nokia Networks (Finland), Cisco System Inc. (U.S.), Siemens AG (Germany), Robert Bosch GmbH (Germany), and Mitsubishi Motors Corporation (Japan).
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