Global Connected Car Market Size study & Forecast, by Technology (3G, 4G/LTE, 5G) By Connectivity Solution (Integrated, Embedded, Tethered) By Service (Driver assistance, Safety, Entertainment, Well-being, Others) By End Market (Original Equipment Manufac

Global Connected Car Market Size study & Forecast, by Technology (3G, 4G/LTE, 5G) By Connectivity Solution (Integrated, Embedded, Tethered) By Service (Driver assistance, Safety, Entertainment, Well-being, Others) By End Market (Original Equipment Manufacturer (OEMs), Aftermarket) and Regional Analysis, 2022-2029

Global Connected Car Market is valued approximately USD 23.6 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 19% over the forecast period 2022-2029. Connected cars are vehicles that are connected to smartphones and tablets and are equipped with internet access, as well as optimize their operations at regular intervals. It can share content with a series of devices inside and outside the car environment through the network connection. The Connected Car market is expanding because of factors such as rising emergence of various technologies such as 5G and AI and Rising automation in the automotive sector.

Vehicles connected to various devices help enhance their safety as the driver receives real-time data of the vehicle's surroundings. Its prevalence has progressively increased during the last few decades. According to Next Move Strategy Consulting, the global automotive intelligence market is projected to grow between 2019 and 2030. While the market was sized at some USD 2.5 billion in 2019, it is expected to reach the size of around USD 74.5 billion in 2030.Moreover, according to Statista during 2021, the global connected car market was valued at USD 65 billion, and projected to grow to USD 121 billion by 2025. Furthermore, leading market players are working towards new partnerships to offer innovative products and solutions. For instance, in December 2021, in California, a US based leading automaker of electric vehicles, Mullen Automotive Inc., partnered strategically with DSA Systems, a leading provider of remote OTA technology and vehicle system diagnostics based in Michigan. Another important component driving space rising automation. According to Statista, the demand for autonomous vehicle simulation solutions increased between 2020 and 2021 for all autonomous levels. It is expected that in 2031, the global market for AV simulation solutions for Level 4 and Level 5 autonomy will reach the size of USD 308.6 million. In addition, in February 2022, In order to provide Connected Vehicle Solutions in the Indian and ASEAN markets, India-based Pricol and San Jose, California, US-based Sibros Technologies have formed a strategic technology alliance. However, risk associated to cybersecurity stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Connected Car Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players. According to the Statista, in 2021, there were about 84 million connected cars on the roads in the United States. Their number is expected to surpass 305 million in 2035, making the United States the biggest market for connected vehicles. Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising geographic expansion of key players, and rising government initiatives in the market space.

Major market player included in this report are:

Harman International
Continental AG
AT&T
Robert Bosch GmbH
Daimler AG
Audi
TomTom Inc.
General Motors
Ford Motor Company
Hyundai Motor Group

Recent Developments in the Market:
 In May 2022, General Motors and INRIX Inc, announced a collaboration to develop safety solutions to help transportation and planning agencies achieve road safety goals. Available first in the U.S., Safety View by GM Future Roads & INRIX is a cloud-based application that provides transportation officials with critical insights using crash, vehicle, and vulnerable road user (VRU) information, in addition to data from the U.S. Census to help prioritize and measure the effectiveness of roadway safety projects and their impact on communities.

Global Connected Car Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Technology, Connectivity Solutions, Service, End Market, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Technology:
3G
4G/LTE
5G

By Connectivity Solutions:
Integrated
Embedded
Tethered

By Service:
Driver assistance
Safety
Entertainment
Well-being
Others

By End Market:
Original Equipment Manufacturer (OEMs)
Aftermarket

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Harman International
Continental AG
AT&T
Robert Bosch GmbH
Daimler AG
Audi
TomTom Inc.
General Motors
Ford Motor Company
Hyundai Motor Group

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