Connected Mobility: Introduction
- Connected mobility is being connected to the internet, while simultaneously moving. This includes vehicle-to-vehicle and vehicle-to-other (V2X) communication. In the connected mobility mode, vehicles are able to connect with traffic signals and signs and other modes of transport such as railways and aircraft. Increasing level of automation in transport vehicles makes it mandatory to know the precise position of the vehicle in order to drive it an efficient manner. For driverless vehicles, which are predicted to hit the roads very soon, network connection is essential.
- The future of transportation is expected to entirely depend on the exchange of information between cars, which is likely to avoid any road incidents. Likewise, additional information can be obtained from connected mobility, such as in-vehicle data can be utilized for traffic management system.
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Key Drivers of Global Connected Mobility Market:
- Implementation of the internet of things (IOT) in connected mobility solutions and deployment of smart infrastructure projects across the world are projected to considerably boost the market. Rise in demand for digitalization is estimated to prompt the stipulation of smart technology solutions in vehicles, such as crash detection of passenger vehicles with the help of a sensor device. These factors are projected to boost the connected mobility market across the globe.
- Increase in demand for driver assistance system and rise in fatalities across the globe are prompting governments to emphasize on connection modes of public transport in order to increase passenger convenience. Connected mode in public transport adds several features and facilities, such as cruise control, prevention of traffic congestion and improved safety by avoiding accidents for travelers. All these factors are likely to propel the connected mobility market during the forecast period.
- Most users are shifting toward Wi-Fi in order to connect their devices to the internet. Ease of connectivity, technical superiority, reliable network as compared to Bluetooth, and establishment of highly secure connection are fueling the adoption of Wi-Fi technology. 5G technology provides data rates up to 29 Gbps; it is ultra-reliable, offers smooth transition period, and enhances safety of the vehicle by providing additional support to technologies such as ADAS, blind spot monitoring, and lane departure control. Demand for 5G technology is likely to drive the connected mobility market during the forecast period.
Global Connected Mobility Market to Offer Attractive Opportunities
- Significant development of infrastructure and technologies, rise in number of technology providers are boosting the rate of adoption of smart and electric vehicles among people across the world. Expansion of the global automotive industry and high demand for mobility solutions are projected to offer significant opportunities for the connected mobility market during the forecast period.
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COVID–19 Pandemic to hamper market:
- The COVID-19 crisis is affecting economies and industries in various countries due to lockdowns, travel bans and business lockdowns. The global connected mobility services providers is suffering serious disruptions such as supply chain breaks, office shutdowns, and others. For instance, China is global manufacturing hub and raw material supplier of various industries; it was also one of the worst affected countries. The lockdown of various plants and factories in China is hampering the global supply chains and disrupting manufacturing, delivery schedules. All these factors are anticipated to hamper the global connected mobility market across the globe.
Europe to Hold Significant Share of Global Connected Mobility Market:
- Rate of adoption of high-end technology in Europe is higher than that in other regions, as vehicle manufacturers of the automotive industry in the region emphasize more on the research and development of components. High penetration of premium and luxury vehicles in several countries across the region, including Germany and the U. K., is likely to boost the market for connected mobility in the region.
Key Players Operating in Global Market:
The global connected mobility market is highly fragmented with top manufacturers across the global market. A few of the key players operating and potential in the global connected mobility market are:
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Microsoft Corporation
- NXP Semiconductors N.V.
- Freescale Semiconductor Inc.
- Texas Instruments Incorporated
- Continental AG
- Siemens AG
- Denso Corporation
- Mitsubishi Motors Corporation
- Cisco System Inc.
- Nokia Networks
- Molex Incorporated
- Deutsche Telekom AG
Global Connected Mobility Market: Research Scope
Global Connected Mobility Market, by Technology
- Vehicle to Vehicle (V2V)
- Vehicle to Infrastructure (V2I)
- Vehicle to Network (V2N)
Global Connected Mobility Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicles
- Commercial Vehicle
Global Connected Mobility Market, by Connectivity
Global Connected Mobility Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.