It is estimated that there are over 1.2 billion motor vehicles in use worldwide. The rising number of automobiles and trucks on the world’s streets requires more intelligent forms of urban transport than the conventional ones, and today’s smart cities are providing the smart infrastructure that is needed for the implementation of connected car programs. These programs are believed to assist the driver and thus help avoid car crashes and congestion, as well as reduce transport-related carbon dioxide emissions. The various market segments related to the connected car market include automotive infotainment and navigation technologies, electric vehicle services, car safety systems, electronic tolling, fleet relationship management, insurance services and fleet management.
By 2020, the market for driver assistance systems is expected to grow to about 50 billion euros, while the market for automobile safety technology is expected to be sized at approximately around 33 billion euros in 2020. The companies most likely to benefit from the trend towards connected cars include silicon valley giants such as Google and Intel, but also Japan’s automotive infotainment firms Panasonic and Pioneer, premium car brands such as Germany’s BMW and VW, as well as the global key players in the field of fleet management systems, including the California-based Trimble Navigation and TomTom of the Netherlands.
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