Technological Evolution Expands the North American Embedded-Connected Hybrid Telematics Market, Finds Frost & Sullivan
MOUNTAIN VIEW, Calif., July 29 /PRNewswire/ -- Technological advancement introduces new revenue streams in the North American embedded-connected hybrid telematics market. As consumers realize the convenience of using these devices in their cars on a daily basis, the adoption of telematics will increase in the future. For long-term survival in this market, vehicle manufacturers slowly offer a partitioned embedded and connected solution, enabling both OEMs and consumers to enjoy the combined benefits.
New analysis from Frost & Sullivan (http://www.automotive.frost.com), Strategic Analysis of North American Embedded-Connected Hybrid Telematics Market, includes data and information gathered from technical papers, trade journals, seminars, along with additional research.
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"Allowing consumers to connect portable devices such as mobile phones with in-vehicle human machine interaction (HMI), improves their driving experience and leads to higher retention," notes Frost & Sullivan Senior Research Analyst Sathyanarayana Kabirdas. "It creates new business model opportunities, including partnering with third-party developers to write and certify applications on their cars."
The integration of mobile phones to the in-vehicle telematics unit allows consumers to lock or unlock vehicles remotely, or even locate their vehicle. With third-party applications, such as Pandora, consumers can stream music from their mobile phone into their car through Bluetooth, eliminating the need of XM/Sirius satellite radio.
A prominent challenge facing the market is the extensive research and development that vehicle design involves as stringent safety standards must be met. This can take four to five years before it comes out of the production line. Therefore, today's electronics might be outdated by the time a new car reaches the consumer.
"With consumer device integration with in-vehicle HMI, vehicle manufacturers might find it difficult to match the life cycle of automobile and consumer electronics," says Kabirdas. "An open and flexible platform will allow consumers to enjoy new services through downloadable applications, even years after the vehicle has left the dealer."
Participants must roll out flexible architecture platforms that can accommodate updates and upgrades anytime they become available. Thus, apart from saving money for automakers to develop new hardware versions, it helps gain the confidence of consumers and increases the renewal rate.
Participants would be wise to partner with leading application developers to write and certify applications for OEM's cars on their smart phones, allowing third-party apps to be used in cars. In addition, they must partner with multiple segments, such as insurance, and provide usage-based insurance programs to add more value for consumers.
Strategic Analysis of North American Embedded-Connected Hybrid Telematics Market is part of the Automotive & Transportation Growth Partnership Service program, which also includes research in the following markets: Strategic Analysis of Map-Based ADAS Systems in North America, 360 Degree Perspective of the Global Electric Vehicle Market - 2010 Edition, Strategic Analysis of North American Automotive Usage Based Insurance Market and code, and Analysis of the Market for Carsharing in North America. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Strategic Analysis of North American Embedded-Connected Hybrid Telematics Market