Connected vehicle is a vehicle, which use different communication technologies and devices to connect the world around them. It provides accuracy to the individual road user’s traffic-related information and additionally they are built for flexibility and scalability. Connected vehicle market includes different types of communications such as vehicle to vehicle (V2V), a vehicle to infrastructure (V2I), vehicle to pedestrian (V2P), and vehicle to cloud (V2C) and others.
According to study, “Germany Connected Vehicle Market (2018-2023)” some of the major companies that are currently working in the Germany connected vehicle market are Airbiquity Inc, Continental AG, Aptiv PLC, NXP Semiconductors, Autoliv, Denso, Wireless Car, Robert Bosch GmbH, ZF Friedrichshafen, TomTom.
Government favorable policies and advancement in autonomous vehicle technology is introducing the German automobile industry interest towards newly designed products. Moreover, the new German road transport law has also been introduced in Germany which allows the semi-autonomous cars for transportation. German OEMs also lead the innovation of self-driving cars technology and patents related to self-driving cars technology registered by the German`s car and component manufacturers.
The connected vehicle market is categorized into the connected car market, connected truck market, connected bus market and connected train market. The connected car market is segmented into wireless & cellular modules, fleet manager, processors, sensors, original equipment manufacturer (OEM) services and aftermarket services. On the basis of services, the market is segmented into stock information, vehicle location, weather information, traffic information, dealer service contact, vehicle alarm notification, text message display, remote door lock & unlocks concierge services, automatic collision notification, vehicle alerts & diagnostics and emergency services etc.
Some of the key technologies associated with connected vehicles include infotainment systems, aftermarket telemetric systems, navigation systems, cloud computing & data analytics, automaker telemetric system architecture, wireless communications technologies, and intelligent transportation systems. Moreover, the automotive companies are well attentive about the fact that successfully connected car solutions, a collaboration between manufacturers and suppliers are key areas to focus. In order to make partnership easier for the industry-wide standards about the technologies, software development, and service provision to be applied and accepted.
In Germany, the market for a connected vehicle is primarily driven by the increasing need for connectivity among the customers. Increasing technological advancements, decreasing traffic congestion, reducing energy consumption, incorporation of an internet of things (IoT) based technologies; demand for vehicle-to-vehicle (V2V) connectivity technology, improving safety and demanding for an autonomous driving experience are increasing significantly which led to the growth of the market. Apart from some advantages, some of the risks are associated for connected cars are unauthorized vehicle entry, connection security, mobile application security, manipulating a vehicle’s operation and stealing personally identifiable information (PII) etc. In addition, some challenges are included extended supply chains, increased cost, increased customer demands, more complex vehicles and the need for an unprecedented degree of manufacturing flexibility.
The Federal Minister of Transport and Digital Infrastructure and the German Ethics Commission on Automated and Connected Driving are some government regulating agencies accountable for connecting some communication equipment in all new vehicles.
In Germany, it is expected that around 90 % of cars to be connected to the internet by 2020, which will be useful for creating the mobile environment. This is expected to generate need of broadband mobile environment for most of the drivers which exist distinct to the current interconnected world of smartphones, computers, and content providers. It is estimated that the connected car market will reach at US $2027 million by 2023, at a CAGR of 8.1 % during 2018-2023.
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Ankur Gupta, Head Marketing & Communications