China’s Smart Vehicle Equipment Market is Expected to Reach ￥26.5 Billion in 2017
In the past 10 years, China’s auto market will maintain a growth rate of 20% per annum. At the same time, auto output and sales volume will also maintain steady growth, reaching 28.1188 and 28.0282 million units in 2016 respectively, bringing huge business opportunities to the smart car market.
With the development of artificial intelligence and Internet of Things technologies, smart automotive equipment has become an important product for promoting the networking of vehicles at this stage. In 2016, the market size of China’s smart car equipment reached 15.8 billion yuan, an increase of nearly 70% over the same period of last year.
According to the data of Analysys, in 2017, the smart car equipment market will grow 67.7%, reaching 26.5 billion yuan. It is estimated to reach 49.5 billion yuan by 2019.
The CHNCI’s forecast is relatively conservative compared to Analysys’s. It predicts that the market size of smart car equipment will reach 25 billion yuan by 2017, an increase of 58.2% over the same period of last year. It is expected to reach 44.5 billion yuan by 2019.
Data source: Analysys, CHNCI
Obviously, all the research institutions, are confident of the future of smart car equipment market. The category of smart car equipment is becoming more and more diversified, and the smart car tachograph is an important part of it.
Driving recorder only emerges in recent years, and smart driving recorder is still in the market start-up period. Analysys data predicts that by 2017 smart tachograph market will reach 15 billion yuan, a yoy increase of 68%. It is expected to reach 28 billion yuan by 2019.
In addition, the online channel is the main sales channel of smart driving recorder, accounting for about 55% -65%; the offline channels are mainly Auto Parts City, 4S shops or some street-side stores. However, compared to online channels, offline stores have more advantages in installation. Many female customers therefore choose offline channels to purchase smart tachographs.
In the future, automotive equipment products will be more intelligent, and cross-industry, cross-cutting and cross-sector cooperation among enterprises will also stimulate the use of more intelligent vehicle equipment scenarios. Coupled with policy support and the development of the Internet, the market scale will continue to expand