The global In-Vehicle Apps Market is predicted to expand at astounding healthy CAGR over the forecast period (2018 to 2022). Growing consumer preference for comfort and convenience is anticipated to propel demand for in-vehicle apps in the coming years. Such applications can provide real-time information regarding traffic, weather, routes, and condition of vehicles. Real-time information gained from such apps can enhance consumer experience. Hence, there is a strong inclination toward vehicles equipped with advanced applications. This can propel the global market in near future.
Rising use of open-source platforms coupled with standardization of product offering to reduce application cost can drive the market for in-vehicle apps. Implementation of automation in vehicles to offer advanced features and to enhance driving experience can further propel growth of the market. Increasing use of smartphones to perform day-to-day jobs is also likely to stimulate market growth over the forecast period. High demand for real-time information regarding vehicles and driving can create positive impact on the market. Growing adoption of advanced car design software to develop PClike architecture in vehicles is expected to impel market growth from 2018 to 2022.
Considering the rising demand, major companies operating in the market for in-vehicle apps are investing in research and development activities. This can give the manufacturers a platform to innovate new applications for consumer use. For instance, Minda iConnect in collaboration with SML Isuzu recently launched an innovative app that can enhance commercial vehicle segment of the latter. This controller area network (CAN) based telematics application, which can ensure safety to trucks via advanced risk assessment. In addition, it can provide end-to-end customer satisfaction to drivers by offering better connectivity and convenience. The latter is expected to launch a global series truck equipped with SML Saarthi to help dealers track their trucks and to notify nearby service stations while journeying.
Growing complexity in application architecture leading to high manufacturing costs for original equipment manufacturers (OEMs) and dealers can hinder growth of the market for in-vehicle apps. Nevertheless, high adoption of artificial intelligence in vehicles to enhance driving experience is expected to create lucrative opportunities for in-vehicle applications over the forecast period.
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The in-vehicle apps market can be segregated on the basis of application type and region. Based on application type, market can be segregated into navigation, in-vehicle infotainment (IVI), and telematics. In the coming years, navigation apps are expected to witness a significant growth in the coming years owing to high consumer demand.
Regional segmentation includes Asia Pacific (APAC), Europe and Middle East & Africa (EMEA), and Americas. In the coming years, APAC is expected to surpass the Americas in terms of revenue share and grab second position after EMEA. In APAC, the in-vehicle apps market is expected to widen in the coming years owing to high prevalence of automotive industry in the region. In addition, growing demand for cars equipped with innovative features based on advanced technology can impel market growth.
In EMEA, the in-vehicle apps market is projected to generate maximum revenue in near future owing to growing consumer demand for in-vehicle apps and connectivity. In addition, increasing number of car manufacturers in the region offering high-end connectivity solutions can drive growth of the market in the forthcoming years. In Americas, the market can grow at remarkable pace owing to rising demand for self-driving vehicles. Local automotive manufacturers are expected to be working on artificial intelligence to make self-driven cars safe and convenient.
Some of the leading companies offering in-vehicle applications are Hyundai Motor Company, Daimler, Ford Motor Company, General Motors, and Renault
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The market is divided into the following segments based on geography:
• Ford Motor Company
• General Motors
• Hyundai Motor Company
• Toyota Motor
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