Global connected cars market confirmed remarkable growth in recent years. Major driving factors influencing the global connected cars market include an increase in the demand for safer, efficient, and convenient driving experiences, and government mandates for connected cars applications. Moreover, connected cars facilitate connectivity on wheels while offering comfort, safety, security and performance coupled with network technology. This help drivers connect with online platforms leading to real-time communication.
Get Research Insights @ Connected Cars Market Revenue, 2019-2025 (USD Million)
The research report on ‘global connected cars market’ forecasts and analyzes the market size of the local and global market. This report also segments the global connected cars market and predicts its size by network, service, form, transponder, end market, and geographical regions. This report focuses on in-depth analysis of the number of forces which are acting on this market, comprising market opportunities, drivers, challenges, and restraints.
The global connected cars market report strategically profiles top vendors and widely examines their market revenues. This research report also analyzes and tracks the competitive advancements such as merger & acquisitions, joint ventures, product expansion, new product launches, and others.
The global connected cars market size projected at $ 73.18 billion from $237.1 billion with recorded CAGR of 14.2% during the forecast period. Growing demand for efficient, safer, and convenient driving, increasing industry compliance regulations for supporting connected car technology are some of the major factors boosting the global connected cars market growth. However, shortage of strong network in emerging countries are rising risk of cyber security are hampering the growth of this market.
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Connected cars employ mobile network technology to manage major functions remotely through the Smartphone, tablet, smart watch, and computer. It comprises OEM hardware that enables vehicle networking in the number of different versions. However, security & safety applications which will give alert in case of any emergency such as accident is the most prefer services used by connected cars.
The global connected cars market segmentation has been done on the basis of application and geographical regions. Based on application, the global connected cars market is categorized into telematics, mobility, driver assistance, and infotainment. On the basis of connectivity type, the market is classified into embedded, integrated telematics, and tethered. By provider, the market is sub-segmented into OEM and Aftermarket. By component, the market is sub-segmented into software and hardware.
In terms of geography, the global connected cars market is categorized into Europe, North America, Asia Pacific, MEA, and Central & South America. In between these, the North American market is dominating the market for highest global connected cars market share owing to the rising IT infrastructure such as 4G and 5G. Likewise, Asia Pacific is one of the fastest growing markets due to increasing connected cars devices and growing digital services like cyber security.
The major players of global connected cars market includes Harman, VW, Bosch, Mercedes Benz, Daimler, Google, Visteon, Uber, Amazon, Airbiquity, Harman, Microsoft (Azure), Continental Corporation, Qualcomm, Apple, NXP, Intel, Delphi, AT&T, Tech Mahindra, Tesla, Volvo and BMW. Acquisition and merger are strived upon by most of the industry giants to get a strong foothold in the market. The WSJ reported that Qualcomm is likely to acquire Netherlands-based NXP Semiconductors for more than $30 billion. The deal would make Qualcomm the largest supplier of chips for cars.
The global connected cars market is extremely competitive owing to the presence of top players in the market. Some top key players include: IBM Corporation, AT&T Inc., Intel Corporation, Audi AG, Vodafone Group Plc. and many others.
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Connected cars facilitate connectivity on wheels while offering convenience, comfort,
Key Segments of the Global Connected Cars Market
Applications Overview, 2015-2025 (USD Million)
- Driver Assistance
Connectivity Type Overview, 2015-2025 (USD Million)
- Integrated Telematics
Provider Overview, 2015-2025 (USD Million)
Component Overview, 2015-2025 (USD Million)
Connection Channel Overview, 2015-2025 (USD Million)
- Cellular Network
Vehicle Connectivity Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Central & South America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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What does the report include?
- The study on the global connected cars market includes qualitative factors such as drivers, restraints, and opportunities
- Additionally, the market has been evaluated using the Porters 5 Forces and Value Chain Analysis.
- The study covers the qualitative and quantitative analysis of the market segmented on the basis of type, distribution channel, and region. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
- The study includes the profiles of key players in the market with a significant global and/or regional presence.