South Korea Connected Vehicle Market May See a Big Move | Continental AG, Denso, NXP Semiconductors

HTF Market Intelligence released a new research Study of 75 pages on title ‘South Korea Connected Vehicle Market (2021-2026) ‘  with in-depth analysis, forecast and business moves. The market Study is segmented by key a region that is accelerating the marketization. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources. The study covers key regions that include North America, Europe or Asia and important players such as Aptiv PLC, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH, and ZF Friedrichshafen.

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South Korea Connected Vehicle Market

The South Korea connected vehicle market is expected to show Double-digit growth rates. The development of connected car technology in South Korea will create new business opportunities in a variety of industries ranging from digital content to finance, insurance, and public service. Major ICT companies and automakers are collaborating and working with venture firms to realize the full potential.

Domestic tech companies and automobile manufacturers are either releasing new systems or widening access to previously exclusive technology, in the race to establish control over the nascent South Korean connected car market. Futuristic vehicle information service or infotainment service,  are a part of these systems that entail the application of rapidly improving AI capabilities into the driving ecosystem, particularly for carrying out destination searches in navigation software, music volume moderation and safety inspections using voice commands.
Hyundai and Kia will begin to include the Kakao’s AI platform — the Kakao I — previously available only on their high-end vehicles , in their low-end models like the Hyundai Sonata, Hyundai Avante and Kia Sportage lines.

Telecom providers are also jumping into the fray, with the nation’s leading operator SK Telecom releasing T Map x NUGU. A union of SK Telecom’s AI technology NUGU along with its GPS and navigation service T Map, the hybrid software, was downloaded by more than 3 million users in just 18 days after launch, which shows rapid adoption of connected car technologies.

Key growth factors

o Demand for a connected driving experiences is growing rapidly in this region. Major auto-makers and OEMs are working to make this a reality very soon
o South Korea is expected to become one of the prominent markets by 2025 for connected cars owing to high growth in the automotive market and enhanced connectivity infrastructures across the region

Threats and key players

o Increasing fuel prices are causing a credit crunch, and rising inflation is taking a toll on the global economy. The industry is also restricted by increasing regulations, slumping demand, and increase in both fixed and marginal cost.
o Some of the key players operating in the market are:- Aptiv PLC, Continental AG, Denso, NXP Semiconductors, Robert Bosch GmbH, and ZF Friedrichshafen.

What’s covered in the report?

1) Overview of the South Korea connected vehicle market
2) Evolution of connected car solutions
3) Connected vehicle ecosystem
4) Connected vehicle-integration landscape model
5) Total number of embedded passenger car solutions in South Korea by value (USD Bn) and volume (Mn units) (2021-2026),CAGR, and SWOT analysis for embedded solutions
6) Total number of integrated passenger car solutions in South Korea by value (USD Bn) and volume (Mn units) (2021-2026), CAGR, and SWOT analysis for integrated solutions
7) Total number of tethered passenger car solutions in South Korea by value (USD Bn) and volume (Mn units) (2021-2026), CAGR, and SWOT analysis for tethered solutions
8) Value proposition for connected passenger car services
9) Value proposition for original equipment manufacturers (OEMs)- connected passenger car services
10) Total number of fleet management solutions in South Korea by value (USD Bn) and volume (Mn units) (2021-2026) and CAGR
11) Value proposition for connected truck services
12) Modular strategy – truck manufacturers and OEMs
13) Key opportunities in the South Korea connected vehicle market
14) Key market trends in South Korea connected vehicle market
15) Analysis of company profiles of major public and private players operating in the market

Why buy?

1. Understand the demand for connected vehicle products and services to determine the viability of the business.
2. Determine the developed and new markets where connected vehicle technology is consumed.
3. Formulate a product market strategy based on the position in the value chain and determine the optimal product/service placement.
4. Identify the gap areas and address them.
5. Develop strategies based on the industry and economic factors for each of the segments.
6. Define the competitive positioning by comparing the products and services with the key players in the market.

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Chapter 1: Executive summary

1.1. Study segments
1.2. Market segmentation
1.3. Key questions answered in this study
1.4. Executive summary
1.5. Evolution of connected car solution
1.6. SWOT analysis- embedded Solutions
1.7. SWOT analysis- tethered solutions
1.8. SWOT analysis- integrated solutions
1.9. Connected vehicle- ecosystem
1.10. Connected vehicle- integration landscape model

Chapter 2: South Korea connected passenger car- market overview

2.1. South Korea market overview
2.1. 1. South Korea growth drivers
2.1. 2. South Korea challenges
2.1. 3. South Korea trends
2.1. 4. Leading players in the market
2.2. South Korea market size

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Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

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