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South Korea Connected Vehicle Market 2018-2023: Key Growth Factors and Threats - ResearchAndMarkets.comThe "South Korea Connected Vehicle Market (2018-2023)" report has been added to ResearchAndMarkets.com's offering. The South Korea connected vehicle market is expected to show double-digit growth rates. 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 services or infotainment services 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 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 prviders are also jumping into the fray, with the nation's leading operator SK Telecom (News - Alert) 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 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. 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 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. Key Topics Covered Chapter 1: Executive Summary Chapter 2: South Korea Connected Passenger Car - Market Overview Chapter 3: Connected Passenger Car Services - Value Proposition Chapter 4: South Korea Connected Truck - Market Overview Chapter 5: Modular Strategy & Potential Analysis - Global Truck Market Chapter 6: Companies Profiled
For more information about this report visit https://www.researchandmarkets.com/research/52n6rg/south_korea?w=4 View source version on businesswire.com: https://www.businesswire.com/news/home/20180815005583/en/ |
