Connected Mobility Solutions Market Overview
The connected mobility solutions market has been evaluated as a proliferating market. The tremendous growth in the technologies, an increasing number of technology providers, and the penetration of smart and electric vehicles among people drive the market, substantially. The adoption of connected mobility devices presages the considerable demand the market is witnessing currently. The integration of Internet of Things (IoT) in connected mobility solutions is influencing the market growth.
According to Market Research Future (MRFR), the global Connected Mobility Solutions Market would register a strong, double-digit CAGR of 19% throughout the forecast period (2018-2023). The proliferation of the concept of connected vehicles defines enormous growth, and the market is about to perceive in the next five years. The augmenting demand for cloud-based connected solutions in the automotive sector and the increasing demand for connected and autonomous vehicles propels the growth of the market.
The connected mobility solutions market has gained considerable acceleration due to the rising infrastructural development and smart city projects across the world. Factors, such as the burgeoning automotive sector and high demand of the mobility solutions drive the market growth predominantly. Increasing demand for digitalization is propelling the connected mobility solutions market largely.
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Players leading the global connected mobility solutions include Robert Bosch GmbH (Germany), Mitsubishi Motors Corporation (Japan), Siemens AG (Germany), Nokia Networks (Finland), Cisco System Inc (US), Molex Incorporated (US), HUBER+SUHNER (Switzerland), Deutsche Telekom AG (Germany), and NXP Semiconductors NV (Netherlands), among others.
Connected Mobility Solutions Market – Segmentation
The report is segmented into four key market dynamics to widen the scope of understanding,
By Technology: Wi-Fi, Bluetooth, 4G/LTE, and 5G, among others.
By Applications: Navigation (road and vehicle monitoring and real-time data capturing and management) and Telematics.
By Connectivity: Integrated Connectivity, Tethered Connectivity, and Embedded Connectivity, among others.
By Regions: Asia Pacific,North America, Europe, and the Rest-of-the-World.
Connected Mobility Solutions Market – Regional Analysis
North America dominates the global connected mobility solutions market with the largest share. The proliferation of the Internet & connectivity solutions and the increasing adoption of the internet of things (IoT) are some of the major driving forces.
Connected cars are the latest hot trend in the US, which is fostering the growth of the connected mobility solutions market in North America.
Owing to the increasing uptake of these solutions and encouraging R&D activities in the related field, the region is expected to grow with the fastest rate during the forecast period. The automobile manufacturing companies in the US and Canada are discovering new technologies to eliminate the possibilities of accidents and give a safe drive experience, which as a result, would impact the market growth, positively.
The connected mobility solutions market in the European region takes the second lead, attributing to the increasing uptake of advanced technologies in the region. Moreover, the rising demand for connected mobility solutions in the automotive sector is impacting the regional market growth, positively. Also, factors such as encouraging government support and funding from private sectors for R&D activities are expected to boost the market growth in the region over the forecasted period.
The Asia Pacific connected mobility solutions market is emerging as a profitable market globally. Increasing developments in technologies, mainly in countries like India, China, and Japan drive the growth of the regional market. Moreover, factors, such as the increasing adoption of smart and electric vehicles among people and the growing R&D activities in the flourishing automotive sector, especially in Japan, China, South Korea, and India, are supporting the growth of the regional market.
Connected Mobility Solutions Market – Competitive Analysis
Fiercely competitive, the connected mobility solutions market appears to be fragmented with many large and small players alongside the new entrants forming a competitive edge. Innovation, new technology launch, and brand reinforcement remain the popular trends for the key players in the market. The growth statistics of the connected market presage the probable heights the market can reach further.
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July 04, 2019 — Baidu, Inc. (China), a multinational technology company, specialized in Internet-related services & products and artificial intelligence, announced its partnership with Geely (China), a privately held global automotive group to develop intelligent mobility solutions including connected car technology. Partnering companies jointly develop GKUI19 connected vehicle solutions powered by Baidu’s DuerOS for Apollo. Under their partnership, the Geely cars will come equipped with the GKUI19 connected vehicle solution powered by Baidu’s DuerOS for Apollo.
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