Global Connected Car
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Connected Car Market Report 2024.
According to cognitive market research-"Global Connected Car market size 2023 was XX Million. Global Connected cars Industry compound annual growth rate (CAGR) will be XX% from 2024 till 2031."
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Connected Car Market Sales Revenue 2030 | $ 179.48 Billion |
Global Connected Car Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 14.59% |
Market Split by Connectivity solution |
|
Market Split by Application |
|
Market Split by Sales Channel |
|
Market Split by Coomunication |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Connected Car industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Connected Car Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Connected cars offer robust network technology along with comfort, convenience, performance, safety, and security, enabling connectivity while on the road. Real-time communication between the driver and web networks is possible. The growing demand for connectivity solutions from consumers, the growing need for constant connectivity, the growing reliance on technology, and the growing number of tech-savvy people are the main factors propelling the growth of the global connected cars market. Over time, automakers and service providers have developed a variety of connectivity options, one of which is the machine-to-machine (M2M) communication platform. This M2M functionality in an automobile allows two connected cars to communicate with one another. The car's numerous sensors and computers provide the driver with accurate, real-time information. This promotes the market's continued growth by encouraging the use of linked vehicles.
The market is anticipated to grow in addition to the factors listed below: increased demand for luxury and comfort in vehicles, increased vehicle manufacturing, and technical advancements. But it's expected that there will be more room for market expansion due to the rising demand for lightweight suspension systems and the creation of sophisticated suspension systems.
Over the course of the projection period, autonomous automobiles and connected vehicles are expected to become more widely accepted as they attract customer interest. It is anticipated that the advanced driver assistance systems (ADAS) offered would close the penetration gap between current cars and cars of the future. Moreover, end consumers are willing to pay extra for the newest technology that improve driving and raise rider and driver safety, thanks to the rapid technical breakthroughs in the automobile sector. In addition to having a big influence on customer behavior, ADAS technologies like blind spot recognition, lane assistance, and collision warning are supposed to improve car performance by lowering downtime and informing owners of any problems with their cars.
A study by Canalys reveals that in the first half of 2021, 56% of new cars sold in Europe, 52% in Japan, 30% in Mainland China, and 63% in the US had the lane-keep assist technology installed, which when used offers steering help to maintain a vehicle in its lane.
https://canalys.com/newsroom/huge-opportunity-as-only-10-of-the-1-billion-cars-in-use-have-adas-features
However, as these formerly exclusive technologies were suddenly included in entry-level cars, the number of ADAS components may continue to rise. Driving on a regular basis is made safer and more secure by these systems. Numerous of these devices enable the car to adapt its driving style based on the road conditions.
Infrastructural innovations in connectivity systems, such as development in communication and IoT scanner devices and cloud-based structural connectivity, have enabled the ease of access to diagnostics, and stronger mobility of businesses, thereby driving their increased adoption in various vehicle segments.
For instance, ISG Oracle concluded, in their 2021 “orchestrating data in logistics” report, that AI and IT systems are crucial for the effective usage of automated procedures in transportation and logistics management. Blockchain, a fundamental component of transportation management systems, ensures accuracy and safety, while business applications leverage AI, machine learning, and other technologies for intelligent track-and-trace.
https://www.oracle.com/a/ocom/docs/applications/scm/perfect-delivery-outsourcing-report.pdf
Vehicles are unable to connect to the cloud due to restrictions on network access on highways. The infrastructure for connected automobiles has not matured as much in underdeveloped economies as it has in rich nations. Most urban locations have uninterrupted 3G and 4G networks accessible. This is a significant issue that is anticipated to limit the market's expansion during the anticipated time frame. For instance, even though there are millions of mobile subscribers in India, there are incredibly few 4G internet networks in the country's rural areas.
The higher production costs associated with the latest communicative devices in the automotive industry, due to the use of premium materials and more complex manufacturing processes, make them more expensive than primitive satellite & radio--based devices, limiting their adoption among cost-sensitive consumers. The fact that linked cars are valuable targets for hackers is another issue. Benedetto Vigna, the CEO of Ferrari, informed a group of customers via letter in March 2023 that a threat actor had gained access to the company's systems. What's to come is indicated by this. A successful hack might destroy privacy, reveal the identities of individuals, and jeopardise functional safety. Attacks using ransomware have the potential to stop operations and the supply chain.
https://www.ferrari.com/en-EN/corporate/articles/cyber-incident-in-ferrari
Wireless connectivity is necessary for all connected cars to have an improved user experience. 5G is being developed by numerous telecom companies in an effort to improve the efficiency and safety of linked automobiles. The international 5G automobile groups claim that the impending 5G technology will save XX% of accidents. For example, the EU and South Korea have committed to collaborating on 5G development, and they have pledged to fund local 5G initiatives with commitments of USD 1.5 billion and USD 782 million, respectively. The 5G Innovation Centre (5GIC), a 56-research facility in the UK, has been funded with USD 78 million.
https://ec.europa.eu/commission/presscorner/detail/en/ip_24_1708
Al will be essential to understanding everything as sensors and other data-collecting technology become more widely used. but significant improvements to both the cars and the infrastructure are required for the industry to reach Level 5. Level 5 autonomous vehicles (AVs) will be a different breed of car with software that can learn, repair, and configure itself. They will also be able to autonomously interact socially and drive in a variety of situations.
https://www.sciencedirect.com/science/article/pii/S2095809920304008
The COVID-19 pandemic and a fall in manufacturing that began to have severely damaged the car industry as a whole. Government-imposed lockdowns have caused problems in the automotive component supply chain. Due of the epidemic, major automakers including Fiat, Volkswagen, PSA Group, General Motors, and BMW have halted manufacturing. Since the expansion of this market is strongly correlated with vehicle production, this scenario is anticipated to have an impact on the connected car market. Nonetheless, the market will continue to expand if car production continues to rise after 2020. Government attempts to create intelligent transportation systems will intensify, as will consumer demand for smartphone functionality in cars and autonomous driving technologies combined with passenger safety measures.
The COVID-19 pandemic has caused multiple supply disruptions for the majority of OEMs and Tier | firms in the past few months. Production delays are caused by supply chain disruptions that impede the flow of components and raw materials. The largest market share holders in the world's passenger automobile production, China, India, and Japan, saw a decrease in 2020 compared to 2019.
The COVID-19 pandemic has caused a decrease in vehicle production, which has impacted the market for linked cars as a whole. In certain nations, however, production has begun to gradually pick back up again.
We have various report editions of Connected Car Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Because of the intense competition in the business, players are using tactics including acquisitions, partnerships, and anticipated launches to expand their global reach.
Top Companies Market Share in Connected Car Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
North America held the biggest revenue share of XX% in 2023, dominating the market. Due to the existence of significant automakers and technological companies, North America currently leads the sector. In order to contend with tech behemoths like Apple Inc. and Google Inc., automakers need to cultivate inventive capacities and cultural transformations. Furthermore, the proliferation of high-speed internet and robust wireless communication infrastructure in North America have facilitated the development of linked automobiles. The functioning of many connected car functions is made easier by these technological breakthroughs, which enable seamless connectivity and data transfer between automobiles and external networks.
Asia Pacific is anticipated to grow at the quickest rate throughout the projection period, XX%. Sales of these smart cars are anticipated to be boosted by rising smartphone adoption rates, the rollout of high-speed internet services, and falling average selling prices in the area.
Moreover, increasing disposable income among consumers is anticipated to drive market demand. Increasing income levels and middle-class households have led to a rise in total discretionary income in developing nations. Spending on sophisticated, high-end, and luxury vehicles has increased as a result, which should spur demand in the upcoming years.
The current report Scope analyzes Connected Car Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
Global Connected Car Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Connected Car Industry growth. Connected Car market has been segmented with the help of its Connectivity solution, Application Sales Channel, and others. Connected Car market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on connectivity solution, the market is divided into- integrated, embedded, and tethered.
With a projected compound annual growth rate (CAGR) of XX%, the integrated sector was the largest contributor to the market. Top producers of connected car items are becoming certified by the agencies that oversee the safety operations in the automotive sector. Harman International, for example, a division of Samsung Electronics Co., Ltd., focuses on connected car technologies that have been certified by TüV SüD, a certification company, to meet international safety requirements in the automobile sector. This startup employs integrated, networked mobile devices with safe cross-platform software in its linked autos. Today's consumers choose connection solutions that work and allow network access through their mobile devices, and they need ongoing access to the Internet.
https://www.harman.com/company
Users may utilize different hardware or application platforms for their connected cars' connectivity devices.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Connected Car Industry. Request a Free Sample PDF!
The driver assistance segment is predicted to grow at the quickest rate of XX% over the course of the projection period, accounting for the greatest revenue share of XX% in 2023. Several cutting-edge technologies are included in driver assistance, which helps to enhance the performance of the car. All auto categories are seeing a rise in the introduction of autonomous steering systems like cruise control and parking assist, which guarantee driver comfort and convenience.
Additionally, the market for driver assistance has been further encouraged by the rising demand for intelligent and connected automobiles as well as by developments in communication technologies like 5G. Advanced driver assistance functions, such real-time traffic information, remote diagnostics, and predictive maintenance alerts, can be provided by connected automobiles by utilizing cloud-based services, real-time data processing, and vehicle-to-vehicle communication.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
The OEM market segment is the largest in the world. OEM stands for original equipment manufacturer. In the business world, this means a company that makes a product to be sold by another company under its own name. Growing technology advancements like constant connectivity, cybersecurity, and the creation of driverless cars with extremely secure software are expected to support OEM supremacy in the foreseeable period. Increasing collaborations with important stakeholders to create components that are both affordable and of good quality is another factor driving the OEM segment's expansion.
The growing use of connected vehicle services is driving OEMs' growth in the connected car sector. Additionally, technological advancements have made it possible for consumers to select the connected car service within their cars, which has ultimately fueled the expansion of the worldwide connected car industry.
Which communication segment is anticipated to lead the market ?
During the course of the projection period, the V2V sector is anticipated to lead the market. Vehicle-to-vehicle communication helps reduce traffic congestion in large cities, promotes road safety, and augments the comfort of the occupants. Over the course of the forecast period, it is projected that advancements in wireless technologies and the growing use of sophisticated equipment, including sensors and GPS, in V2V systems, will continue to preserve the segment's leadership.
Research Analyst at Cognitive Market Research
I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Governments throughout the world are predicted to support the connected automobile industry strongly, but expansion may be hampered by worries about safety and security and a lack of flawless internet connectivity. The sector is driven by consumer needs, growing reliance on technology, and tech-savvy people and offers advantages like performance, comfort, safety, and connectivity. While application service providers like Microsoft, TomTom, Intel, Google, and Apple offer software and applications, network service providers like Verizon and AT&T supply connectivity technologies. Because of the growing popularity of car-embedded technology and its potential to improve driving experiences, the industry is anticipated to rise.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Connectivity solution | Embedded, Tethered, Integrated |
Application | vehicle management, driver assistance, mobility management, safety, entertainment, and other. |
Sales Channel | OEM, OES |
Coomunication | Vehicle to Vehicle (V2), Vehicle to Infrastructure (V21). |
List of Competitors | BMW, BROADCOM, Chrysler, Benz, DAIMLER, HYUNDAI MOTOR, HONDA, Luxoft, Qualcomm, Toyota, Garmin, Volkswagen, Volvo |
This chapter will help you gain GLOBAL Market Analysis of Connected Car. Further deep in this chapter, you will be able to review Global Connected Car Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Connectivity solution Analysis 2019 -2031, will provide market size split by Connectivity solution. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Connectivity solution Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Sales Channel Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Coomunication Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Connected Car market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Embedded have a significant impact on Connected Car market? |
What are the key factors affecting the Embedded and Tethered of Connected Car Market? |
What is the CAGR/Growth Rate of vehicle management during the forecast period? |
By type, which segment accounted for largest share of the global Connected Car Market? |
Which region is expected to dominate the global Connected Car Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Connected Car Market
Request Sample