Automotive Business Point

4G/LTE technology was the largest category in the technology segment in connected car market. Much of this can be owed to the increasing demand for fast and advanced technology for the connected cars. Additionally, it allows drivers to connect and share vital information, and update emergency service provider faster as compared to other commercial technologies in the market, which is the reason why the 4G technology is expected to dominate the market during the forecast period. In the connected car market, the embedded connectivity was the leading category in the connectivity segment in 2017. This can be attributed to its compact structure and user-friendly characteristic nature. The navigation category dominated the application segment in the connected car market, as it held more than 40% market share in 2017. Navigation application is the most basic requirement in a connected car, which when coupled with its cost effectiveness and growing need for travelling in cities, make...

The growing number of road accidents and increasing vehicle safety regulations and initiatives are the key factors contributing to the growth of the adaptive cruise control (ACC) market. In 2016, the market attained a size of $4767.0 million, and it is projected to generate a revenue of $15,290.0 million by 2023, progressing at a CAGR of 18.3% during 2017–2023 (forecast period). ACC automatically adjusts the speed of the vehicle to keep a safe distance from the vehicles ahead. Based on application, the ACC market is bifurcated into passenger and light commercial vehicles. Of these, during the historical period (2013–2016), passenger vehicles dominated the market, and these are predicted to maintain their dominance during 2017–2023. This is attributed to the surging awareness among consumers about safety, increasing premium car sector, and formulation of strict norms by regulatory bodies, such as the New Car Assessment Program. Furthermore, the increasing demand for luxury car...