As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the Asia-Pacific Connected Vehicle industry.
New Industry Report on Asia-Pacific Connected Vehicle Market Status and Prospects [2023-2032] has been released. The report is 120 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request a Free Sample Copy
The Asia-Pacific connected vehicle market is expected to reach USD 47.4 Bn by 2023, expanding at a CAGR of 20% (2018-2023).
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The Asia-Pacific connected passenger car market is expected to reach USD 34.93 Bn by 2023 at a CAGR of 22% (2018-2023) and the Asia-Pacific connected truck market is expected to reach USD 12.47 Bn by 2023, expanding at a CAGR of 17% (2018-2023).
The connected vehicle ecosystem is evolving in which Asia-Pacific connected car manufacturers and automotive OEMs are developing various connected solutions. On the basis of connectivity, demand for embedded solutions, tethered solutions, and integrated solutions for connected passenger cars has increased over the years. Similarly, the use of telematics and fleet management solutions for connected commercial vehicles has risen.
Two of the world’s fastest emerging economies are from the Asia-Pacific – India and China, indicating ample growth opportunities for the development of the connected car market. China has recently expanded significantly in mobile connectivity technology, keeping customer benefits as a priority and accordingly launching connectivity enabled vehicles.
Autonomous vehicles are no more a thing of the future with various sensors (LIDAR, RADAR) and processors placed in the vehicle , which provide real time information and facilitate an autonomous driving experience. Ride sharing companies are investing heavily in this region and also entering into strategic collaborations to upgrade their traditional vehicles to all-electric vehicles.
Key growth factors
- Demand for a connected driving experience is growing rapidly in this region. Major auto-makers and OEMs are working to make this a reality very soon
- Asia-Pacific is expected to become the prominent market by 2025 for connected cars owing to high growth in the automotive market and developing connectivity infrastructures across the region
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Threats and key players
- New laws mandate connectivity across all vehicles. The Asia-Pacific region is yet to foresee this and its acceptance across all automobile majors in the days to come is expected to be challenging
- Increasing fuel prices is causing a credit crunch, and rising inflation is taking a toll on the global economy. The industry is also restricted by increasing regulations, sluggish demand, and increases in both fixed and marginal cost.
- Some of the key players in the market are:- Airbiquity Inc, Aptiv PLC, Autoliv, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH, TomTom, WirelessCar, and ZF Friedrichshafen.
What’s covered in the report?
1) Overview of the Asia-Pacific connected vehicle market
2) Evolution of connected car solutions
3) Connected vehicle ecosystem
4) Connected vehicle- integration landscape model
5) Total number of embedded passenger car solutions in Asia-Pacific by value (USD Bn) and volume (Mn units) 2018-2023,CAGR, and SWOT analysis for embedded solutions
6) Total number of integrated passenger car solutions in Asia-Pacific by value (USD Bn) and volume (Mn units) 2018-2023, CAGR, and SWOT analysis for integrated solutions
7) Total number of tethered passenger car solutions in Asia-Pacific by value (USD Bn) and volume (Mn units) 2018-2023, CAGR, and SWOT analysis for tethered solutions
8) Value proposition for connected passenger car services
9) Value proposition for original equipment manufacturers (OEM’s)- connected passenger car services
10) Total number of fleet management solutions in Asia-Pacific by value (USD Bn) and volume (Mn units) 2018-2023 and CAGR
11) Value proposition for connected truck services
12) Modular strategy – truck manufacturers and OEMs
13) Key opportunities in the Asia-Pacific connected vehicle market
14) Key market trends in Asia-Pacific connected vehicle market
15) Analysis of company profiles of major public and private players operating in the market
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1. Understand the demand for connected vehicle products and services to determine the viability of the business.
2. Determine the developed and new markets where connected vehicle technology is consumed.
3. Formulate a product market strategy based on the position in the value chain and determine the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products and services with the key players in the market.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for Asia-Pacific Connected Vehicle. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for Asia-Pacific Connected Vehicle is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
Intricacies of COVID-19 Impact Analysis:
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the Asia-Pacific Connected Vehicle Market Report:
- What is the projected size of the Asia-Pacific Connected Vehicle market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the Asia-Pacific Connected Vehicle industry?
- What are the major market trends that are affecting the expansion of the Asia-Pacific Connected Vehicle market?
- What obstacles must be overcome in order to achieve sustained growth in the Asia-Pacific Connected Vehicle market?
- What opportunities and threats do vendors in the Asia-Pacific Connected Vehicle market face?
- What are the raw materials and manufacturing equipment used in the production of Asia-Pacific Connected Vehicle, and what is the manufacturing process?
- What are the different types and applications of Asia-Pacific Connected Vehicle, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Asia-Pacific Connected Vehicle market?
- What factors are driving the growth of the Asia-Pacific Connected Vehicle market in the top regions worldwide?
- Who are the major players in the Asia-Pacific Connected Vehicle market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Asia-Pacific Connected Vehicle market?
- What are the main findings of a five forces analysis of the Asia-Pacific Connected Vehicle market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our Asia-Pacific Connected Vehicle Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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