The preference of autonomous vehicles has seen a substantial spike, which is estimated to benefit the connected mobility solutions market 2020. The information and communication technology industry reports are put forth by Market Research Future, which focuses on market options for growth. A 19% CAGR is estimated to create favorable opportunities for growth in the forecast period.
The availability and enhancement in cloud-based solutions are anticipated to create momentum that will be conducive for growing the connected mobility solutions market size. The alliances in automotive manufacturers and technology titans are expected to induce further development in the market for connected mobility solutions.
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The segmental outline of the connected mobility solutions market is carried out on the basis of application, connectivity, technology, and region. On the technology basis, the connected mobility solutions market is segmented into 4G/LTE, Bluetooth, Wi-Fi, and 5G. On the basis of the type of application, the market for connected mobility solutions is divided into telematics and navigation. The segment of navigation is further segmented into real-time data capturing & management and road and vehicle monitoring while the telematics segment further includes car-to-car, in-car and car-to-infrastructure. Based on the connectivity, the market for connected mobility solutions is segmented into tethered connectivity, integrated connectivity, and embedded connectivity. The regional span of the connected mobility solutions includes North America, Europe, Asia Pacific, and other global regions.
Detailed Regional Analysis
The regional estimation of the connected mobility solutions market covers regions such as North America, Europe, Asia Pacific, and other global regions. The North American region is likely to account for the prime share of the connected mobility solutions market and is also projected to mature with the speediest rate in the forecast period. The expansion of the connected mobility solutions market in the North American region is attributed to the mounting application of the internet of things in this area. Furthermore, the automobile firms in the U.S. and Canada are discovering new technologies to remove the incidence of mishaps and offer a safe trip experience. The European region’s market for connected mobility is obtaining motivation owing to the united demand for connected mobility solutions in the automotive division. However, the Asia Pacific nations such as Japan and India, among others, are impelling Connected Mobility Market Size to exponential development owing to the mounting adoption of smart and electric vehicles in individuals. China is the leading economy showing key progress in the connected mobility market as customers now favoring the need to own vehicles with better-connected technology.
The formation of improved raw material sources is predicted to expand sales and overall consumer satisfaction in the market. The far-sightedness of market investors is anticipated to increase upon the development indicators for the market. The intensification in production prospective is estimated to generate an upgraded product range in the global market. The admission to the well-known target markets is likely to permit the market competitors to advance the impulse essential for victory in the estimated period. The market is expected to draw in the current developments in the market. The contenders in the market are also backing the advance of the global market but investing in the enhancement of products. The government policies are expected to generate an atmosphere of fruitful progress in the forecast period. The appropriate comprehension of consumer needs is anticipated to permit the market companies to harness market demands effectively.
The outstanding players in the connected mobility solutions market are Siemens AG (Germany), Nokia Networks (Finland), Mitsubishi Motors Corporation (Japan), NXP Semiconductors N.V. (Netherlands), Cisco System Inc (U.S.), Deutsche Telekom AG (Germany), Robert Bosch GmbH (Germany), HUBER+SUHNER (Switzerland), Molex Incorporated (U.S.), among others.
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