Connected Car Device Market — Smartphone Integration Rising Penetration

Posted by RASHMI on April 29th, 2019

Transparency Market Research has published a new report titled, “Connected Car Device Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global connected car device market is anticipated to surpass US$ 20 Bn by 2026, expanding at a CAGR of more than 11% during the forecast period.

Demand for vehicle connectivity driven by consumers, government, insurance companies, and auto manufactures is expected to rise at a steady pace during the forecast period. Connectivity services such as navigation, infotainment, entertainment, usage-based insurance, and security are witnessing high demand promoting the use of connected car devices.

In terms of sales, the demand for retrofit solutions, i.e., the OBD dongle, is expected to rise till 2023. Retrofit connecting devices can be utilized by all vehicles registered after 1996, as they contain an OBD port. Retrofit devices have independent hardware and software and hence, are highly cost-effective as compared to built-in devices.

Get an exclusive sample of this report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=27443

Automakers are investing significantly to build proprietary built-in solutions for car connectivity. Strong emphasis by governments of countries in Europe and the Government of Brazil to mandate embedded telematics in cars is estimated to boost the built-in segment of the connected car device market.