The progress in the concept of cloud-based connected solutions in the automotive sector is giving way to the growth of connected mobility solutions. Reports that judge the information and communication technology industry has been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities. The market is at the precipice to capture a 19 % CAGR in the upcoming period.
The escalating demand for connected and autonomous vehicles is anticipated to give impetus to the connected mobility solutions market in the coming period. Furthermore, the expansion of mobility services business units by market players is expected to create a favorable outlook or growth in the coming years.
The segmental overview of the connected mobility solutions market is conducted on the basis of application, connectivity, technology, and region. Based on the technology, the connected mobility solutions market is segmented into Bluetooth, Wi-Fi, 4G/LTE, and 5G. Based on the application type, the connected mobility solutions market is segmented into telematics and navigation. The navigation segment is further segmented into real-time data capturing and management and road and vehicle monitoring while telematics consists of in-car, car-to-infrastructure, and car-to-car. On the basis of connectivity, the connected mobility solutions market is segmented into integrated connectivity, tethered connectivity, and embedded connectivity. The connected mobility solutions market spans regions such as North America, Europe, Asia Pacific, and other regions in the world.
Detailed Regional Analysis
The regional assessment of the connected mobility solutions market covers regions such as North America, Europe, Asia Pacific, and other regions in the world. The North American region is expected to account for the principal share of Connected Mobility Market Size and is also projected to develop with the speediest rate in the forecast period. The development of the connected mobility solutions market in the North American region is credited to the growing implementation of the internet of things in this region. Moreover, the automobile companies in the U.S. and Canada are finding out new technologies to eradicate the occurrence of accidents and offer a safe journey experience. The European region’s connected mobility market is acquiring impetus due to the collective demand for connected mobility solutions in the automotive sector. While, in the Asia Pacific nations such as China, Japan, and India among others, are pushing the market to exponential growth due to the growing adoption of smart and electric vehicles amongst individuals. China is the foremost economy displaying key growth in the connected mobility market as clients now preferring to have a vehicle with better-connected technology.
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The prominent players in the connected mobility solutions market are Robert Bosch GmbH (Germany), Siemens AG (Germany), Mitsubishi Motors Corporation (Japan), Cisco System Inc (U.S.), Deutsche Telekom AG (Germany), HUBER+SUHNER (Switzerland), Nokia Networks (Finland), Molex Incorporated (U.S.), NXP Semiconductors N.V. (Netherlands) among others.
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