Connected Vehicle Market in India Forecasts upto 2024
- March, 2019
- Domain: Electronics & Semiconductors - Electronics & Semiconductors
- Get Free 10% Customization in this Report
Market Ecosystem – Connected Vehicle Market in India
The Indian automobile industry, along with the Government of India, is heavily focusing and investing in establishing intelligent transportation systems by enabling cutting-edge services via interconnecting physical and virtual things. The expansion of Internet coverage via wired and wireless network infrastructure, ubiquity of smartphones, emergence of Internet of Things (IoT) along with societal demand for connected driving experience are transforming the transportation sector in India.
Market Revenue and Segmentation Analysis:
The connected vehicle market in India is expected to reach revenue of $1,803.9 million by 2024, growing at a CAGR of 12.9% during the forecast period upto 2024.
The connected vehicle market in India is segmented into solution type, vehicle type, and market type. The solution types include in-vehicle infotainment, telematics, V2X communication, and advanced driver assistance system (ADAS). Among various solutions, in-vehicle infotainment is identified as the fastest growing segment, i.e., at a CAGR of 13.6% during the forecast period 2018–2024, and is expected to contribute 35% market share by the end of 2024. By vehicle type, the market is segmented into personal vehicles, commercial cars, commercial vehicles, and two & three wheelers. In terms of market type analysis, the market is segmented into OEM and after-market.
- In 2018, over 35% of the newly sold passenger vehicles had at least a basic level of connectivity solutions, including location tracking and remote monitoring.
- More than 19% of passenger and commercial vehicles sold in 2018 are connected; however, it is just below 2% of the total vehicle stock.
- Mahindra & Mahindra, DHL, Eicher Motors, and Tata Motors are focusing on building smart trucks to promote sustainable transportation solutions in India.
- As an initiative toward intelligent transportation systems (ITS), the Government of India has mandated AIS140 – GPS tracking standard, for all new commercial vehicles across India from January 2019.
Benefits and Vendors
The report contains an in-depth analysis of vendors, which includes overview, financial health, business focus, SWOT analysis, strategies, and views; and competitive landscape. Few of the key players profiled in this study include Maruti Suzuki India Limited, Mahindra & Mahindra Limited, Bosch Limited, Vodafone Group Plc, ANI Technologies Private Limited, Vecmocon Technologies, Zyme Technologies, Carsense, and CarX.
The study offers a comprehensive analysis of the “Connected Vehicle Market in India”. Bringing out the complete key insights of the industry, the report aims to provide an insight into the latest trends, current market scenario, and technologies related to the market. In addition, it helps the venture capitalists to understand revenue opportunities across different segments to take better decisions.
Key Insights of the Report Include:
- AIS 140 Implementation
- Analysis of the AIS 140 Implementation – Ecosystem Impact
- Connected Vehicle Partnerships, Developments in India
- Indian Automotive OEM Connected Vehicle Solutions and Service Offerings
- Ecosystem of Connected Vehicles Market in India
- Market Analysis – By Solution
- In-vehicle Infotainment
- V2X Communication
- Advanced Driver Assistance System (ADAS)
- Market Analysis – By Vehicle Type
- Personal Vehicles
- Commercial Cars
- Commercial Vehicles
- Two & Three Wheelers
- Market Analysis – By Market Type
- After Market
1.1 AIS 140 Implementation
2 Industry Trends
2.1 PEST Analysis of Connected Vehicle Market in India
3 Report Outline
3.1 Research Methodology
3.2 Report Assumptions
4 Market Outlook
4.1 Porter’s Five Forces on Connected Vehicle Market in India
4.2 Key Market Developments
5 Market Characteristics
5.1 Ecosystem of Connected Vehicle Market in India
4.2 Connected Vehicle Market in India Segmentation
5.3 Market Dynamics
220.127.116.11 Automotive Industry Embracing Data-centric Business Models
18.104.22.168 Consumer Demand for Digitalized and Connected Driving Experience
22.214.171.124 Government & Regulatory Support for the Expansion of Connected Vehicles Market
126.96.36.199 Less Availability of Domestic Next-gen Solutions for ADAS, Advanced Telematics
188.8.131.52 Low Consumer Readiness for Advanced Connected Solutions Due to High Costs
184.108.40.206 Slow Implementation fo Transportation Related Smart City Plans
220.127.116.11 Growing demand for real-time logistics management
18.104.22.168 Evolution of new modes of transportation
22.214.171.124 Regulatory Changes Promoting Insurance Telematics, ADAS, Electric Vehicles
5.3.4 DRO-Impact Analysis
5.3.5 Market Trends
6 Solutions: Market Size & Analysis
6.2 In-Vehicle Infotainment
6.4 Vehicle-to-Everything (V2X) Communication
6.5 Advanced Driver Assistance System
7 Vehicle Types: Market Size & Analysis
7.2 Personal Vehicles
7.3 Commercial Vehicles
7.4 Three & Two Wheelers
8 Market Type: Market Size & Analysis
9 Vendor Profiles
9.1 Maruti Suzuki India Limited
9.2 Mahindra & Mahindra Limited
9.3 BOSCH LIMITED
9.4 Vodafone Group Plc
9.5 ANI Technologies Private Limited
(Overview, Product Profile, Business Focus, Business Strategy, Recent Developments and SWOT have been covered for all the vendors)
10 Companies to Watch for
10.1 Vecmocon Technologies
10.2 Zyme Technologies
10.5 CarX 63
11 Key Takeaways
Infoholic Research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:
- Data Collation (Primary & Secondary)
- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
Market related information is congregated from both primary and secondary sources.
Involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.