Global Connected Vehicle Market Size Study & Forecast, by Technology Type (4G/LTE, 3G, 2G), By Connectivity (Integrated, Embedded, Tethered), By Vehicle Connectivity (Vehicle to Vehicle (V2V), Vehicle to Infrastructure (V2I), Vehicle to Pedestrian (V2P)),

Global Connected Vehicle Market Size Study & Forecast, by Technology Type (4G/LTE, 3G, 2G), By Connectivity (Integrated, Embedded, Tethered), By Vehicle Connectivity (Vehicle to Vehicle (V2V), Vehicle to Infrastructure (V2I), Vehicle to Pedestrian (V2P)), By Application (Driver Assistance, Telematics, Infotainment, Others), By Vehicle (Passenger cars, Commercial Vehicle), and Regional Analysis, 2023-2030

Global Connected Vehicle Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Connected vehicles are a division of automobiles that are equipped with internet connectivity and communicate with other devices and networks. This communication is usually done through a range of technologies, such as Wi-Fi, cellular networks, and dedicated short-range communications (DSRC). Furthermore, connected vehicles are gaining significant momentum among a wide consumer base due to their ability to reduce traffic accidents, improved traffic flow, and more convenient travel, thereby improving safety and convenience. In addition, connected vehicles are quite a relatively new technology, and it continues to develop by means of significant revolution and technological advancements, which is expected to drive the market growth prospect. Increasing demand for safety features in vehicles, along with the rise in trend of autonomous driving further propels the expansion of the connected vehicle market across the globe.

In addition, favorable government regulations and initiatives, coupled with the increase in collaboration between OEMs and service providers is further fueling the market demand. Governments around the world are considering implementing regulations and protocols to promote connected vehicle technology. These regulations often emphasize on enhancing road safety, minimizing emissions, and raising traffic management. Incentives and mandates provided by governments further encourage manufacturers and consumers to deploy connected vehicle solutions. For instance, the National Highway Traffic Safety Administration (NHTSA) in the U.S. establishes Federal Motor Vehicle Safety Standards (FMVSS) regulations that govern the safety aspects of connected vehicles. Similarly, Japan has been at the forefront of ITS initiatives, implementing various policies such as the ""ITS Green Initiative"" and ""Connected Car Deployment Promotion Consortium,"" to encourage the use of connected vehicles. These regulations aim to address concerns related to safety, data privacy, cybersecurity, and interoperability. The Chinese government is emphasizing electric mobility as well as ADAS elements in advanced vehicle technology. The leading automakers in the country are expanding their portfolio with the introduction of the new level 2 and level 3 ADAS features. For instance, in May 2021, the new Chitu small SUV was introduced by the HAVAL brand of Great Wall Motor Co. Ltd. It is powered by a 1.5L turbocharged engine with a 7-speed wet dual-clutch gearbox, producing a maximum of 135kW and 275Nm of peak torque. A Level 2 ADAS system is also present in the car, with different features depending on the version. Consequentially, government regulations and initiatives to encourage the adoption of connected vehicle is directly associated with the growth of the global market. Moreover, the growing ecosystem of connected services, as well as the rising integration of advanced safety and comfort features in vehicles, such as advanced driver assistance systems (ADAS) present various lucrative opportunities over the forecasting years. However, the high implementation cost and lack of adequate infrastructure for the proper functioning of connected vehicles are hindering market growth over the forecast period of 2023-2030.

The key regions considered for the Global Connected Vehicle Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific leading the market in 2022 owing to the increasing vehicle safety and security norms, growing demand for vehicle-to-vehicle (V2V) connectivity, and rising focus on environmental concerns and emission reduction costs. Whereas, Asia Pacific is also projected to increase with the highest growth rate over the forecasting period. Factors such as the rising integration of 5G in vehicle models, along with rising government support and initiatives to promote the installation of connected vehicle technology are bolstering the market growth in the anticipated years.

Major market players included in this report are:
Robert Bosch GmbH
Continental AG
Denso Corporation
Visteon Corporation
Harman International
AT&T Inc.
Airbiquity Inc.
Qualcomm Technologies Inc.
Sierra Wireless
Infineon Technologies

Recent Developments in the Market:
 In February 2022, Qualcomm Technologies, Inc. unveiled a new Snapdragon Digital Chassis for connected vehicle platform to support the development and delivery of new cloud-connected digital services to meet the rising demand for premium driving experiences and connected in-vehicle services. This new innovation support integrated analytics, global connectivity, and on-device and cloud-enhanced apps/services.
 In April 2023, Continental AG expanded its digital access system CoSmA by a Child-Presence-Detection function (CPD) that can offer improved passenger safety and trigger warning the children left-behind inside the vehicles. The CPD function also addresses the needs for vehicle manufacturers to satisfy in- cabin safety objectives in consideration of the impending Euro NCAP safety rating and US legislation, which will in turn drive for new child safety criteria in the car by 2025.


Global Connected Vehicle Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Technology Type, Connectivity, Vehicle Connectivity, Application, Vehicle, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa


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 Type:
4G/LTE
3G
2G

By Connectivity:
Integrated
Embedded
Tethered

By Vehicle Connectivity:
Vehicle to Vehicle (V2V)
Vehicle to Infrastructure (V2I)
Vehicle to Pedestrian (V2P)

By Application:
Driver Assistance
Telematics
Infotainment
Others

By Vehicle:
Passenger cars
Commercial Vehicle

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

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa


Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Companies Mentioned
Robert Bosch GmbH
Continental AG
Denso Corporation
Visteon Corporation
Harman International
AT&T Inc.
Airbiquity Inc.
Qualcomm Technologies Inc.
Sierra Wireless
Infineon Technologies

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.