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Connected Vehicle Systems are Expected to Exceed $36 Billion in Annual Revenue by 2025, According to Navigant Research

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Connected Vehicle Systems are Expected to Exceed $36 Billion in Annual Revenue by 2025, According to Navigant Research

 

 

 

 

 

 

 

A new report from Navigant Research examines the market for connected vehicles, with a focus on the key components of vehicle-to-external communications (V2X) communications technology and factors that may influence successful deployment.

 

 

 

Automakers and governments are striving to meet consumer demands for safer cars with lower emissions and energy consumption. This push is driving the development of a number of crucial technologies, including electrification and automated driving systems that rely on real-time data to vehicles, drivers, and pedestrians, through connected vehicle systems as V2X.  According to a new report from Navigant Research, worldwide revenue from connected vehicle systems is expected to grow from $96.3 million annually in 2016 to $36.6 billion by 2025.

 

 

 

“According to the U.S. Department of Transportation, adding V2X communications could help prevent 70 to 80 percent of vehicle crashes,” says Sam Abuelsamid, senior research analyst with Navigant Research. “Connected vehicles have enormous potential to provide drivers with increased situational awareness of upcoming hazards and congestion.”

 

 

 

Connectivity is also a key enabling technology for plug-in electric vehicles (PEVs) and fuel cell vehicles (FCVs), according to the report. The limited electric driving range of most current PEVs makes it important for drivers to take advantage of opportunistic charging and be able to remotely monitor the battery charging status. Even conventional internal combustion engine vehicles can benefit from real-time information provided through connected vehicle systems, to help avoid congestion, saving time and energy.

 

 

 

The report, Connected Vehicles, examines the market for connected vehicles, with a focus on the key components of V2X communications technology and factors that may influence successful deployment. The study provides an analysis of how these factors, including the cost of hardware, regulations, potential societal benefits, and security and privacy concerns, are projected to affect automakers, hardware and software suppliers, regulators, and intelligent transportation infrastructure operators. Global market forecasts of original and aftermarket sales of dedicated short-range communications equipment for light, medium, and heavy duty vehicles, broken down by vehicle segment and region, extend through 2025. The report also provides a review of major market drivers and barriers related to connected vehicles and key industry players within the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.

 

 

 

About Navigant Research

 

 

 

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries.  In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets.  The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors.  

 

Posted April 21, 2015

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