Reading time ( words)
Research and Markets has announced the addition of the "Connected Car M2M Connections and Services Market in WE 2016-2020" report to their offering.
The connected car M2M services market in Western Europe is expected to grow at a CAGR of 26.38% during the period 2016-2020.
Smart parking aids to reduce traffic congestions in highly populated cities. These smart parking systems use sensors deployed in the center of the parking area. The data gathered from these sensors help to obtain information regarding the number of standby vehicles and the number of vehicles in the queue to acquire parking space.
According to the report, connected cars have safety and security features that help in early detection of critical situations, thereby alerting the driver through appropriate alerts/notifications. In the automotive industry, IoT enables effective communication during an emergency.
Further, the report states that issues with security and network integration hinders the market growth.