The global automotive connected car platform market is expected to grow at a CAGR of 10.94% during the period 2017-2021, according to the Global Automotive Connected Car Platform Market 2017-2021 report from Research and Markets.
A few highlights from the report:
■ One trend in the market is rental companies adopting the connected car platform to attract customers. Connected car technologies are being adopted by the retail customers as well as the rental players. Additionally, emerging markets are witnessing a wider adoption of connected car technologies through rental players.
■ The embedded connectivity market is dominated by developed regions such as Europe and the US. The main advantage of embedded connectivity is the reliability of its data due to its 24x7 connected environment. The same is not true for tethered and smartphone integration solutions where the connectivity of the device depends on the user.
■ One driver in the market is automotive OEM push for embedded connectivity in BRIC nations (Brazil, Russia, India and China) to drive revenue growth.
■ One challenge in the market is cyber security breach issues to negatively impact technology adoption. Automotive telematics applications in in-vehicle information systems use wireless communication systems that are prone to hacking and theft of information. Today, these modern systems offer Internet connectivity combined with real-time updates and information. Hence, the access to such information provides an opening for the breach of information and the threat of malicious software.