Global Connected Car Market to Reach USD 144.95 Billion by 2020

Technavio recently released a research report according to which the global connected car market is projected to reach USD 144.95 billion by 2020 and will grow at a CAGR of more than 32%. There is growing demand for in-vehicle connectivity and telematics. This has led to technological developments that are meant to enhance the in-car experience for both motorists and their passengers. Another notable fact that is mentioned in the report is that the penetration of smartphones has increased significantly across the globe in recent years, especially in emerging markets. While the global smartphone penetration was about 25% in 2015, this is expected to increase to 38% by 2020.This trend is expected to give rise to greater demand for the integration of smartphones with the vehicle systems. New technologies like high resolution Human Machine Interface (HMI), which can be integrated with smartphones ar egaining traction with customers.

Neelam Barua, a lead automotive electronics analyst from Technavio said that the luxury car segment is expected to see high adoption of embedded solution as when it comes to customers in this segment, cost is not a consideration and OEMs will seek to differentiate their product by coming up with unique systems for their models. Consumers prefer availability of a strong application base for their connected devices as is seen in the case of the Android operating system for smartphones which is highly popular as it supports a wide range of third-party applications.

Some of the leading companies in the field of connected cars are Siyata Mobile, Inc., Qualcomm, Sierra Wireless and ORBCOMM Inc. Siyata Mobile has a proprietary device called Uniden UV350 4G/LTE which is the world’s first and only in-vehicle connected cellular device with Push-to-Talk over Cellular (“PoC”) solution for commercial fleets and vehicles.

Qualcomm Inc. developed technologies like 3G and 4G that powered the smartphone revolution and is now working on 5G and a range of intelligent, connected devices. The company has developed dynamic electric vehicle charging (DEVC), which allows vehicles to charge while driving. Using this technology, the company made a wireless DEVC system that can charge an electric vehicle (EV) dynamically at up to 20 kilowatts at highway speeds.

Sierra Wireless, Inc. specializes in the Internet of Things and focuses on intelligent wireless solutionslike advanced 2G, 3G and 4G embedded modules and gateways, which are seamlessly integrated with the company’s secure cloud and connectivity services. Dan Schieler, Senior Vice President and General Manager, OEM Solutions, Sierra Wireless, said: “Building on our portfolio of Cellular, WiFi and Bluetooth modules, we will have additional products to offer to our customers in markets where positioning data is critical, including high-value asset tracking, telematics, drones and automotive.”

ORBCOMM Inc.  is a leading global provider of Machine-to-Machine (M2M) communication solutions and the only commercial satellite network which is dedicated to M2M.