German automotive digital services market is projected to attain a size of $6,056.4 million by 2023, according to P&S Intelligence.
The rise in in-vehicle connectivity is one of the major factors driving the growth of German automotive digital services market. In the last few years, the sales of vehicles equipped with the in-vehicle connectivity feature has increased in Germany. This trend is expected to continue during the forecast period with increasing integration of the in-vehicle connectivity feature in the new vehicles sold.
Insights on market segments
The German automotive digital services market is segmented on the basis of type into mobility on demand, logistic fleet management, in-vehicle digital services, Advanced Driver Assistance Systems (ADAS), and IoT. Logistic fleet management is estimated to be logistic the fastest growing service type during the forecast period. This is because of the increasing fleet size, growing need to monitor the driver behavior, and rising demand for theft-tracking devices.
Among dashboard infotainment services, navigation is estimated to account for the largest share in the industry in 2017. During the forecast period, navigation services are expected to witness the highest growth, mainly driven by the increasing customer demand for real time traffic updates and location finder features, such as global positioning system (GPS) and road direction guidance. Increasing convenience and customization, in addition to easy access to value-added information, such as that on vehicle diagnostics, fuel, traffic, and weather, will continue to drive the German automotive digital services market during the forecast period.
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Shifting consumer mobility preferences
Increasing number of people living in the metropolitan cities of Germany are preferring to avail ride hailing and sharing services instead of traditional public transport. In Germany, close to 750,000 people are using car sharing services, with more than eight million people interested in the idea of car sharing. Many people are also delaying the purchase of private vehicles because of the convenience associated with mobility-on-demand services. Lower journey costs in mobility-on-demand services as compared to traditional cab services are one of the major factors for the increasing popularity of mobility-on-demand services. In addition, growing environmental awareness among the people and rising traffic congestion in major cities, such as Munich, are encouraging people to avail themselves of mobility-on-demand services, benefiting the German automotive digital services market.
Competitive Landscape
Some of the leading player in the German automotive digital services market includes Uber Technologies Inc., Daimler AG, Robert Bosch GmBH, TomTom NV, FEV Group, MAN SE, Continental AG, Bayerische Motoren Werke (BMW) Group, and Volkswagen AG.
