Artificial Intelligence
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
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
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.
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
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.
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Artificial Intelligence
Metz, in Partnership with AI TECH, Introduces Advanced Interactive Flat Panel to Middle East Market
SHENZHEN, China, June 17, 2024 /PRNewswire/ — METZ Display, a sub-brand of SKYWORTH and a provider of innovative interactive displays for education and business. The announcement of Artificial Intelligence Technologies LLC Dubai as the authorized exclusive distributor for the UAE market as well as the Oman, Qatar, and Bahrain markets marks a significant expansion for METZ Display. By partnering with a trusted distributor like Artificial Intelligence Technologies, METZ is strategically positioning itself to deliver its full range of smart education and smart conference room applications across these regions. This move not only strengthens METZ’s presence in the Middle East but also underscores its commitment to providing innovative interactive displays tailored for both educational and business environments.
Based on the 16 years of R&D and business experience in the IFPD market from SKYWORTH, METZ Display fully inherited its technology and has introduced several interactive displays in the education and business sectors that provide a highly immersive environment and user-friendly experience since 2022, such as the all-in-one LCD.
Mr. Summer Deng METZ Sales & Marketing Head of MEA, said: ” The IFPD market in MEA is expected to see rapid growth over the next couple of years. The partnership with Artificial Intelligence Technologies LLC, a business entity to promote AI & AV Products, Tools, and services in the United Arab Emirates & Middle East Region will take METZ Display to another new level. We are confident to further develop our quality products and service!”
METZ Display is expanding its reach into the UAE market through Artificial Intelligence Technologies LLC Dubai as its authorized distributor.
The introduction of the METZ K Pro Series, particularly the EDLA Certified collaborative display, in the MEA Region highlights their commitment to providing innovative interactive display solutions for both education and business sectors. This move could potentially enhance learning and collaboration experiences in the region.
Mr. Harold Fernandes, the Managing Director of Artificial Intelligence Technologies, seems quite enthusiastic about the partnership with METZ Display. His emphasis on the versatility of METZ’s portfolio, applicable across various sectors such as education and business, reflects a keen understanding of the market’s needs. By highlighting the engaging experiences offered by METZ Display products, he’s underlining the potential benefits for resellers and end-users alike. This partnership seems poised to bring innovative solutions to the UAE market.
About METZ Display
With Skyworth, one of the world’s largest TV companies, and Metz, one of the oldest German manufacturers, METZ Display creates high-quality educational and business applications that make state-of-the-art screen technology available to everyone by combining their strengths and 80 years of experience.
About Artificial Intelligence Technologies LLC
Artificial Intelligence Technologies LLC, Is established as a business entity to promote AI & AV Products, and complete AV Solution, Tools & Services in the United Arab Emirates & Middle East Region. Visit the website at https://ai-tech.ai/
Phone: +971 4299 0544Email: [email protected]: www.ai-tech.ai
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Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
Name: Luis ParraTitle: Managing DirectorCompany: Vica.ChatTelephone: +44 20 7399 4980 Email: [email protected]
About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
Visit ViCA.Chat to learn more.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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