Summary: “Connected Mobility Market is growing rapidly as it helps to cruise control, avoids traffic congestion and enhances safety by avoiding accidents for travelers. Connected mobility market can be segmented based on technology, connectivity, vehicle type, and region”
Increase in demand for driver assisted system and increase in fatalities across the globe are some of the factor promoting growth of this market in the coming years. The connected mode in public transport includes various facilities and features for instance, improve safety by avoiding accidents for travelers and also helps in avowing traffic congestion. These are some of the factors promoting overall growth of market in the coming years. All these trends are supporting growth of the connected mobility market in the coming years.
The global connected mobility market is likely to register a massive growth during the forecast period due to the increasing demand for cloud-based connected solutions in the automotive industry and the expanding demand of autonomous and connected vehicles are some of the factors promoting overall growth of this market in the coming years.
Malfunctioning of Electronic device to Restrain Market Growth
On the other hand, vehicles which are connected with internet can be hacked and misused and Also, malfunctioning of the electronic device do prevail and this may likely to hamper overall growth of this market in the coming years. However, the rising demand for automation in vehicles in order to track the exact location are some of the factor promoting overall growth of this market in the coming years.
Europe and North America to Lead Global Connected Mobility Market in terms of Adoption
Geographically, Europe and North America are likely to dominate global connected mobility market in the coming years. These countries are experiencing major adoption of high end technologies and this further stimulate growth of this market in the coming years. Transport department in U.S. is expected to make it mandatory to use V2V technology in the light weight vehicles to avoid crash.
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