Major on-board connectivity market participants include AT&T Inc., Bombardier Inc., Collins Aerospace, Honeywell International Inc., Huawei Technologies Co., Nokia Corporation, Nomad Digital, Panasonic Corporation, Qualcomm and ZTE Corporation
Selbyville, Delaware, June 04, 2024 (GLOBE NEWSWIRE) —
The on-board connectivity market valuation is predicted to exceed USD 27 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing integration of advanced connectivity solutions in vehicles, including Wi-Fi, Bluetooth, and cellular connectivity is enhancing passenger experience and enabling a wide range of connected services, such as infotainment, navigation, and remote diagnostics. The rising demand for real-time data and telematics services for fleet management, vehicle tracking, and predictive maintenance will also drive the adoption of on-board connectivity solutions in commercial vehicles.
According to the U.S. Department of Transportation, the U.S. airlines carried 194 million more passengers in 2022 compared to 2021. This trend of growing passenger count in airlines is accelerating the demand for on-board connectivity solutions. The proliferation of connected car platforms and the development of autonomous vehicle technologies are further favoring seamless communication and data exchange between vehicles, infrastructure, and external services. The rise in government regulations for mandating the inclusion of safety and security features in vehicles is further accelerating the adoption of on-board connectivity solutions and shaping the future of automotive industry.
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The on-board connectivity market from the maritime end-user segment will expand at notable rate between 2024 and 2032. The surging demand for vessel tracking, navigation, and communication is accelerating the adoption of on-board connectivity solutions to enhance operational efficiency and safety at sea. The rising popularity of maritime tourism and leisure activities is providing passengers with seamless connectivity and onboard entertainment services. The rollout of regulatory mandates for improving maritime communication will further drive the segment expansion.
The satellite technology segment is estimated to account for sizeable share of the on-board connectivity industry by 2032. The widespread coverage and reliability of satellite communication technology is making way for seamless connectivity in remote and underserved areas while enhancing passenger and fleet connectivity. Lately, the demand for continuous and reliable data transmission for applications like navigation, emergency services, and fleet management is largely increasing. Substantial advancements in satellite technology for improving bandwidth capacity and reducing latency is further driving the segment growth.
Asia Pacific on-board connectivity market size is projected to witness substantial gains by 2032, on account of the rapid urbanization and increasing disposable incomes. Several government initiatives across the region are promoting digitization and infrastructure development. The growing adoption of IoT and connected devices across various sectors is stimulating the demand for on-board connectivity solutions. Additionally, the proliferation of mobile technology and rising consumer preferences for in-vehicle entertainment will drive the regional market progression.
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Some of the leading firms operating in the on-board connectivity market include AT&T Inc., Bombardier Inc., Collins Aerospace, Honeywell International Inc., Huawei Technologies Co., Nokia Corporation, Nomad Digital, Panasonic Corporation, Qualcomm, and ZTE Corporation. These market contenders are engaging in diverse business expansion tactics, mergers & acquisitions, collaborations, and innovations to expand their market reach. For instance, in June 2023, Hughes Network Systems, a subsidiary of EchoStar, and OneWeb, a low Earth orbit (LEO) satellite communications firm, declared a Distribution Partner agreement to offer LEO connectivity services to the worldwide airline industry.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 On-board connectivity market 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024-2032
2.3 Regional trends
2.4 Component trends
2.5 Technology trends
2.6 Application trends
2.7 End user trends
Chapter 3 On-Board Connectivity Market Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Rising demand for seamless connectivity on board
3.8.1.2 Rising advancements in smart transportation systems
3.8.1.3 The proliferation of in-flight entertainment
3.8.1.4 Advancements in satellite communication
3.8.2 Industry pitfalls & challenges
3.8.2.1 High implementation and maintenance costs
3.8.2.2 Security concerns associated with on-board connectivity
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
4.3.1 Qualcomm
4.3.2 ZTE Corporation
4.3.3 AT & T Inc.
4.3.4 Bombardier Inc.
4.3.5 Collins Aerospace
4.3.6 Huawei Technologies Co.
4.3.7 Honeywell International Inc.
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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