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Connected Cars Market Assessment, By Network, By System Type, By Components, By Vehicle Type, By Communication Type, By Sales Channel, By Application, By Region, Opportunities and Forecast, 2016-2030F

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New York, Aug. 03, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Connected Cars Market Assessment, By Network, By System Type, By Components, By Vehicle Type, By Communication Type, By Sales Channel, By Application, By Region, Opportunities and Forecast, 2016-2030F” – https://www.reportlinker.com/p06481830/?utm_source=GNW

Global Connected Cars Market size was valued at USD 70.37 billion in 2022 which is expected to reach USD 226.75 billion in 2030 with a CAGR of 15.75% for the forecast period between 2023 and 2030. The global connected cars market is rapidly evolving at the intersection of automotive technology and connectivity solutions. Connected cars, also known as smart cars, are vehicles equipped with internet access and integrated sensors, enabling seamless communication between vehicles, infrastructure, and other devices. The market for connected cars has witnessed exponential growth in recent years due to various market drivers. One of the key drivers is the increasing consumer demand for enhanced safety, convenience, and entertainment features in vehicles. Connected cars offer advanced driver assistance systems (ADAS), real-time traffic updates, and infotainment options, which significantly improve the driving experience. Moreover, the rising need for efficient traffic management, reduced carbon emissions, and improved transportation infrastructure has prompted governments and automotive manufacturers to invest in connected technologies.

Innovation has been a driving force in shaping the connected cars market. Advancements in 5G technology have significantly improved data transmission rates, enabling faster and more reliable connectivity in vehicles. This development has opened opportunities for real-time vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, making driving safer and more efficient. Additionally, the integration of artificial intelligence (AI) and machine learning has enabled smart cars to learn driver behavior, optimize routes, and predict maintenance requirements. Furthermore, the emergence of autonomous vehicles has accelerated the adoption of connected car technologies, as they require robust communication networks to operate safely and efficiently. As technology continues to evolve, the global connected cars market is poised for continued growth, with more innovative features and transformative solutions on the horizon.

For instance, Mercedes-Benz has embraced Car-to-X technologies, enabling vehicles to communicate with each other and the surrounding infrastructure. This advanced connectivity allows cars to exchange vital information, offering a new level of situational awareness. By peering around corners and through walls, the networked car can proactively warn nearby vehicles of potential hazards, effectively preventing accidents. This groundbreaking technology significantly enhances both safety and comfort for drivers and passengers alike. Moreover, it marks another significant step towards achieving autonomous driving capabilities, paving the way for a future where vehicles seamlessly cooperate and share information to create a safer and more efficient driving experience.

Increasing Demand for Safety and Security Features

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The global connected cars market is witnessing a surge in demand for safety and security features. As technology advances, consumers are increasingly prioritizing safety in their purchasing decisions. Connected cars offer a range of safety features, including advanced driver assistance systems (ADAS), collision avoidance systems, lane departure warning, and adaptive cruise control. These features utilize sensors, cameras, and connectivity to enhance driver awareness and reduce the risk of accidents. Additionally, connected cars enable real-time monitoring and communication with emergency services in case of an incident, providing timely assistance. With rising concerns over road safety, regulatory mandates, and increasing consumer awareness, the demand for connected cars equipped with advanced safety and security features is expected to continue growing, driving innovation and investment in the market.

For instance, in 2022, the Audi launched A8 which offers advanced safety and security features, including adaptive cruise control, lane departure warning, collision avoidance systems, night vision assistance, and a comprehensive airbag system, ensuring a safe and secure driving experience.

Growing Demand for Convenience and Entertainment

The market is witnessing a growing demand for convenience and entertainment features. As consumers increasingly seek seamless integration of their digital lifestyles into their vehicles, connected cars offer a range of conveniences. These include features like voice-activated controls, smartphone connectivity, and access to a wide range of entertainment options. With built-in connectivity and infotainment systems, connected cars enable drivers and passengers to access music streaming services, navigation assistance, hands-free calling, and even personalized content recommendations. The demand for these features is driven by the desire for a more enjoyable and connected driving experience.

As technology continues to advance and consumer expectations evolve, automakers are investing in innovative features and partnerships with content providers to cater to the growing demand for convenience and entertainment in connected cars. For instance, launched in 2022 in India, the Mercedes-Benz EQS offers a host of convenience and entertainment features, including advanced voice-activated controls, a high-resolution infotainment system, immersive sound systems, and customizable ambient lighting, providing a luxurious and entertaining driving experience.

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Rising Adoption of 5G Technology

The global connected cars market is experiencing a rising adoption of 5G technology. 5G networks offer high-speed, low-latency connectivity, which is crucial for supporting the advanced features and capabilities of connected cars. With 5G, vehicles can access and exchange large volumes of data in real time, enabling seamless communication with other vehicles, infrastructure, and cloud-based services. This technology enhances vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, enabling improved safety, traffic management, and navigation. 5G also enables the integration of high-definition video streaming, augmented reality (AR), and virtual reality (VR) experiences within the vehicle, enhancing the overall entertainment and passenger experience. As 5G networks continue to expand globally, the adoption of this technology in connected cars is expected to accelerate, unlocking new opportunities for innovation, and transforming the way we experience mobility.

Impact of COVID-19

The pandemic had a significant impact on the global connected cars market. The widespread lockdowns and travel restrictions imposed to curb the virus’s spread resulted in a decline in car sales and production worldwide. The automotive industry faced supply chain disruptions, labor shortages, and reduced consumer spending, leading to a slowdown in the adoption of connected car technologies. Additionally, the economic uncertainty caused by the pandemic led to a cautious approach among consumers, who prioritized essential expenses over discretionary purchases like connected cars. However, the crisis also highlighted the importance of connected technologies in enhancing vehicle safety, remote diagnostics, and entertainment options, driving innovation and investment in the sector. As the world gradually recovers from the pandemic, the connected cars market is expected to regain momentum, fueled by increasing demand for smart and connected features in vehicles.

Impact of Russia-Ukraine War

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The Russia-Ukraine war had implications on the global connected cars market. As the conflict escalated, it caused economic uncertainty, and disruptions in supply chains. Many automotive manufacturers rely on components and technology sourced from both countries, leading to delays and production challenges. Additionally, market demand in the region and surrounding areas has been affected, causing a decline in sales and investment in connected car technologies. The war’s broader impact on global trade and investment sentiment has added further uncertainty, potentially stalling advancements in the connected cars market as manufacturers and consumers alike adopt a cautious approach amid ongoing geopolitical instability.

Key Players Landscape and Outlook

The global market for commercial vehicles is characterized by intense competition, as numerous prominent companies compete for a share of the market. These companies have established a robust global presence and provide a diverse selection of commercial vehicles. Continuously investing in research and development, they strive to create novel and cutting-edge products. Furthermore, they are expanding their range of offers to meet the increasing demand for commercial vehicles across various regions worldwide.

For instance, in 2023, during the recent Annual Meeting & Transportation Technology Exhibition of the American Trucking Associations’ (ATA) Technology & Maintenance Council (TMC) in Orlando, Florida, Volvo Trucks North America unveiled a new connected technology tool aimed at optimizing fuel efficiency and vehicle productivity for fleet customers. Known as the Connected Vehicle Analytics (CVA) tool, it collects real-world data from fleet operations, such as truck configurations, daily routes, average speed, and fuel efficiency. This data enables Volvo Trucks dealers to provide customized recommendations for Class 8 truck purchases that align with the customer’s specific operations.
Read the full report: https://www.reportlinker.com/p06481830/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Artificial Intelligence

VeriPark and FICO Announce Strategic Partnership to Transform Financial Services

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ISTANBUL, June 26, 2024 /PRNewswire/ — VeriPark and FICO have launched a partnership to revolutionize the financial services sector through AI-driven decision making and digital transformation.

 
The collaboration between VeriPark, a global provider of innovative digital solutions, and FICO, a renowned analytics software company, will enhance decision-making and promote financial inclusion across Turkey, the Middle East, Africa, Asia and CIS regions.
Combining FICO’s decision automation, optimization and omnichannel communications capabilities with VeriPark’s customer engagement, omni-channel delivery, branch automation and loan origination solutions, the partnership aims to improve customer experience and accelerate digital transformation.
“We are excited to bring FICO’s cutting-edge technology to our region. This collaboration will enhance customer experiences and operational efficiency across the financial services sector. Integrating FICO’s technology with our solutions represents a significant leap forward, ensuring we stay ahead in a rapidly changing environment. We look forward to showcasing our joint success stories soon,” said Ozkan Erener, CEO of VeriPark.
“The combination of FICO and VeriPark’s strengths brings a unique blend of innovation to the market. Our goal is to help build a better society by bringing more people into the banking system, and our partnership with VeriPark is a critical step towards achieving that. FICO has been working with AI since 1992, and we are eager to introduce this long-standing expertise to businesses in this region through our collaboration with VeriPark.” said Alexandre Graff, Vice President of Global Partners & Alliances, FICO.
About VeriPark (https://www.veripark.com)VeriPark is a global solutions provider enabling financial institutions to become digital leaders with its Intelligent Customer Experience suite. With offices located in United Kingdom, Europe, the United States & Canada, Asia, Africa and the Middle East, VeriPark is helping businesses to enhance their customer acquisition, retention and cross-sell capabilities by providing proven, secure and scalable Customer Relationship Management, Omni-Channel Delivery, Branch Automation, and Loan Origination solutions.
About FICO (https://www.fico.com/)FICO powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries.
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Altair Names Devoteam Channel Partner for the EMEA Region

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Devoteam to offer Altair’s leading data analytics and AI solutions throughout the EMEA region
TROY, Mich., June 26, 2024 /PRNewswire/ — Altair (Nasdaq: ALTR), a global leader in computational intelligence, is thrilled to welcome Devoteam as a new channel partner for the EMEA region. Within the partnership, Devoteam will offer Altair’s leading data analytics and artificial intelligence (AI) solutions to its customers throughout the EMEA region.

“Partnering with Devoteam underscores our dedication to shaping the future of technology,” said Kimon Afsaridis, managing director of Eastern Europe and vice president of indirect EMEA sales, Altair. “This partnership marks a pivotal moment in our global expansion strategy, reinforcing our mission to lead and innovate in AI and beyond.”
“Together, Devoteam and Altair will help industrial companies harness the power of data to improve their efficiency, productivity, and competitiveness,” said Pablo Martin, industry and retail business unit director, Devoteam. “This collaboration is an important step in our commitment to help companies, particularly in the industrial sector, better their digital transformation efforts.”
Devoteam boasts more than 25 years of passion for tech and more than 11,000 tech-native specialists in offices in 25 countries. The company believes that technology combined with strong human values can drive change for the better, and specializes in managing large-scale projects while remaining agile enough to deliver customized solutions.
Altair works with a global network of channel and technology partners. To learn more or to become a partner, visit https://altair.com/altair-partners.
About Altair
Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit https://www.altair.com.
Media contacts
Altair Corporate
 Altair Investor Relations
Bridget Hagan
 Stephen Palmtag
+1.216.769.2658
+1.669.328.9111
[email protected]
 [email protected]
Altair Europe/The Middle East/Africa 
Charlotte Hartmann
+49 7031 6208 0
[email protected]
 
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IBM Study: Fan Engagement and Consumption of Sports Shifting, Reveals New Opportunities for Technology Integrations including AI

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International sports fans surveyed are optimistic about the impact of technologies like AI on their digital sports experiences.Real-time updates and personalized content rank as top priorities for fans when it comes to how generative AI can enhance following and engaging with sports events.Younger sports fans overwhelmingly embrace AI-powered experiences and digital platforms for sports content consumption and engagement.ARMONK, N.Y., June 26, 2024 /PRNewswire/ — As sports fans worldwide tune in to a myriad of athletic events this summer, new research commissioned by IBM (NYSE: IBM) reveals a growing generational shift and acceptance of technology-driven experiences that will impact the future of sports consumption.

The international study*, conducted by Morning Consult, gathers insights from more than 18,000 sports fans across 10 countries to better understand both how they follow and engage with sports, including live coverage, highlights, and summaries, as well as preferences for future engagement and consumption. The findings confirm that fans are prioritizing more personalized and time-saving digital sports content, with the majority recognizing the positive impact technologies like artificial intelligence (AI) will have on these experiences.
The data also confirms that younger sports fans are more likely to favor AI-enhanced features as they increasingly turn to digital platforms for sports content. Surveyed fans aged 18-29 are using a mobile phone or tablet as their primary device to watch sporting events more often than older fans, with subscription streaming of live sporting events being most popular among the younger age group. More than half (58%) of 18-29 year old respondents also believe AI will have a positive impact on sports.
Alternatively, respondents from older age groups remain loyal to traditional methods of consumption, with linear broadcasting being most popular among fans 45+. Forty percent of surveyed fans over the age of 55 believe AI will have a positive impact on sports.
“Fans worldwide are continuing to embrace platforms and solutions that allow them to feel more connected and informed on their favorite sporting events and athletes, and IBM’s new study confirms this now includes embracing technologies like AI to deliver these experiences,” said Noah Syken, Vice President, Sports and Entertainment Partnerships. “IBM’s longstanding portfolio of Sports and Entertainment partnerships aims to deliver on these expectations from fans by putting in the hands of our partners the most advanced IBM technologies from our AI and data platform watsonx.”
Other key study findings include:
Fans are optimistic about the impact of technology on sports, paving the way for generative AI powered experiences
63% of respondents point to data analytics as having the most positive impact on sports, while 50% of respondents think AI will have a positive impact.When it comes to how generative AI can improve engagement, surveyed sports fans identify real-time updates (34%) and personalized content (29%) as the top priorities.India, UAE and Saudi Arabia rank the highest in countries where fans are prioritizing real-time updates and personalized content powered by generative AI.Fans now prioritize personalized, bite-sized content when it comes to their consumption of sport content
More than half (56%) of respondents turn to social media for additional sports content; 46% are getting additional content from broadcast/video news while 35% are turning to news articles.64% of those fans engaging in additional sports content are viewing highlight videos of best moments; 48% are consuming post-match recaps and analysis.Among those engaging in additional sports content, respondents rank summarized content (33%) as their top priority followed by personalized content (26%).Sports fans are watching event summaries more often, with 41% of respondents indicating they watch summaries or highlights weekly; 24% report daily engagement.Younger fans may be reshaping how consumers experience sports content, as they engage with content via multiple screens and are more likely to favor AI-powered enhancements
Younger fans (18-29) are most likely to view sports highlights through social media over other platforms.When it comes to consuming sports content, fans aged between 18-29 are more likely to rank personalized content as their top priority.Fans aged 18-29 are more likely to rate AI improvements as high priority, with real-time updates (40%) and personalized content (36%) topping the list of priorities.While real-time updates (26%) and personalized content (19%) also top the list of AI improvement priorities among older fans (55+), these respondents are much less likely to consider AI improvements a high priority.Younger fans are also more likely to be using multiple devices while engaging with sporting events than older fans (55+). 10% of younger fans surveyed use three or more devices while watching sports compared to only 2% of older fans.While TV is the most common method for viewing sports, fans are increasingly using multiple devices to follow sporting events
64% of surveyed fans say linear or streaming TV is their top choice for watching sports.31% of respondents say they are most likely to watch a live sporting event on linear broadcast; 28% say they use a subscription streaming service and 23% use a free streaming serviceSubscription streaming of live sporting events is most popular among younger fans aged between 18-29.Mobile devices are a noteworthy alternative for watching sports, with 20% of consumers reporting it is the top way they watch sporting events and 38% saying it is their second most likely options.28% of surveyed sports fans use at least two devices while watching sporting events; 24% report they use at least two devices while listening to sportsFans between 18-44 are more likely to be using three or more devices.Respondents rank multi-tasking as the top reason for using multiple devices when consuming sports, followed by finding more game information while watching or listening to the sport.To view the full study, visit: https://newsroom.ibm.com/image/IBM+Global+Sports+Attitudes+and+Behaviors+Report+June+2024.pdf
*Study MethodologyThis survey was conducted in May 2024 among a total sample of 18,082 sports fans 18+ in the US, Canada, the UK, France, Germany, Italy, Spain, India, the UAE, and Saudi Arabia. The interviews for each country were conducted online, and the data is unweighted, with ~2,000 responses per market in the US, Canada, the UK, France, Germany, Italy, Spain, and India and ~1,000 responses per market in the UAE and Saudi Arabia.
To qualify for this survey respondents must be at least an average sports fan and follow one or more of the following sports: Soccer, Cricket, Tennis, Basketball, Baseball, Rugby, Golf, American football, F1 racing, Track and field, Swimming, and the Olympics.
About IBMIBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.
Media Contacts:
Sarah BenchaitaIBM Corporate [email protected]
Marisa ConwayIBM Corporate [email protected]
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