26 April 2019, The in-car apps market is expected to grow at a high CAGR from 2016 to 2024 due to the growing use of the infotainment platforms in vehicles. In-car apps help the driver to maintain focus while driving by providing certain features such as gesture recognition, voice control by eliminating the extra control buttons. They also offer features such as evolved cruise control, autonomous emergency brake, traffic jam warning, change of lane assist, blind spot data and autonomous emergency brake. The multiple uses of the apps are expected to lead to the immense growth in the in-car apps market.
The importance given to road safety, fuel economy & efficiency, security & insurance liability which are expected to propel the growth in the in-car apps market. The growing income levels in developing countries of Asia Pacific and Europe is anticipated to drive the demand for luxury vehicles and smart cars, which is in turn expected to drive the growth of the global in-car apps market.
In-car apps assist drivers in parking, car to car communications, lane departure, traffic signal warning, surround view systems and autonomous parking. It also provides additional features through sensor technologies such as camera, radar, and ultrasound.
The usage of the in-car apps helps monitor car repairs with the aid of smartphones. They also help customers to connect to various service professionals, carry out communication through texts, pictures, and videos. These apps help in the diagnostics of the vehicles by continuously monitoring vehicle damage and performance of different parts.
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The implementation of in-car apps is advantageous to automobile manufacturers as they can exploit new revenue streams and create revenue sharing. The apps have become an essential platform for conducting business and managing customer relationships. Further, the car dealers utilize these apps to communicate servicing reminders, drive traffic to the showrooms and manage customer relationships.
Automobile manufacturing companies are concerned about the safety & reliability of the mobile app solutions, open app ecosystem, and app data privacy. The in-car apps market is at a nascent stage; this market is anticipated to grow at a rapid pace over the coming years on account of high investments in technological developments and innovation.
The in-car apps market can be segmented on the basis of applications into navigation, social networking, travel, music, entertainment, lifestyle, news, and weather. In 2015, navigation was the most widely used app in cars which accounted for around 53% market share followed by the weather app which accounted for an overall 40% market share.
The in-car apps market is segmented on the basis of technology into embedded model, external model, and hybrid model. In the embedded model the apps are downloaded in the vehicle and runs on the cars system.
The external model refers to the apps present in a smartphone or tablet which need to be connected to the car's system via Bluetooth or a USB port. The Hybrid model apps are accessed through a built-in technology.
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