Global Connected Car Market Research Report, 2024-29

The Global Connected Car market is cross USD 190 Billion by 2029 due to rapid technological advancements and increasing demand for connected services

Featured Companies

  • 1. BMW Group
  • 2. Ford Motors
  • 3. Tesla
  • 4. Volkswagen
  • 5. Robert Bosch GmbH
  • 6. Visteon Corporation.
  • 7. Denso Corporation
  • 8. TomTom N.V.
  • 9. The Mercedes-Benz Group AG
  • More...

The global connected cars market sits at the crossroads of automotive innovation and digital transformation, marking a fundamental shift in how vehicles are designed, built, and operated. Connected cars, which include internet connectivity and onboard sensors, are revolutionizing the driving experience by providing a plethora of innovative features and services that improve safety, convenience, and entertainment for both drivers and passengers. From real-time navigation and traffic updates to remote diagnostics and over-the-air software updates, connected cars use cutting-edge technologies like the Internet of Things (IoT), artificial intelligence (AI), and 5G connectivity to form a seamless and interconnected ecosystem on wheels. The global connected car market is a convergence of technical breakthroughs, legal frameworks, and customer demand that drives the implementation of connected automobile solutions worldwide. Automotive manufacturers, technology companies, telecommunications providers, and regulatory bodies collaborate to develop innovative connected car technologies that address emerging trends, challenges, and opportunities in the automotive landscape. From established automotive hubs in Europe, the United States, and Asia to emerging markets in South America, the Middle East, and Africa, the global connected cars industry spans continents, cultures, and economies, reflecting the increasingly interconnected nature of the modern automotive ecosystem. One of the driving forces behind the global connected cars industry's growth is the never-ending goal of transportation safety, efficiency, and sustainability. Connected automobiles have advanced safety features such as collision avoidance systems, pedestrian recognition, and emergency assistance, which help to reduce traffic accidents, injuries, and fatalities. Furthermore, linked car technologies provide predictive maintenance, fuel optimization, and traffic management systems, which improve driving efficiency, lower emissions, and alleviate urban congestion. According to the research report, “Global Connected Car Market Research Report, 2029” published by Actual Market Research, the market is anticipated to cross USD 190 Billion by 2029, increasing from USD 87.14 Billion in 2023. The market is expected to grow with 14.22% CAGR by 2024-29.The global connected cars market is driven by changing consumer tastes and expectations for personalized, connected, and sustainable mobility solutions. Modern consumers want seamless connectivity, intuitive interfaces, and integrated digital experiences in their automobiles, which reflect the connectivity and convenience they enjoy in other areas of their lives. From millennials looking for on-demand transportation to tech-savvy professionals embracing electrified and self-driving vehicles, linked cars appeal to a wide range of lifestyles, interests, and mobility needs in today's digital world. Technological breakthroughs such as 5G connectivity, artificial intelligence, and edge computing promise to open up new avenues for connected automobile innovation, enabling features like autonomous driving, vehicle-to-everything (V2X) communication, and augmented reality experiences. Governments and regulatory agencies throughout the world are actively working to grow the connected cars market by developing and implementing favorable regulations. In line with this, the implementation of stringent regulations mandating the inclusion of specific safety features and connectivity capabilities in new vehicles, such as the European Union's eCall regulation, which requires all new cars to have an emergency call system, is boosting market growth. Such rules encourage the adoption of connected car technologies and establish a standardized framework that promotes interoperability and compatibility across various automobiles and infrastructure components, hence propelling market growth.

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Market DriversAdvancements in communication technologies: Communication technology advances such as 5G connectivity, Wi-Fi, and Bluetooth have allowed connected cars to transmit data faster with reduced latency and more bandwidth. These developments enable a variety of connected automobile applications, including vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-cloud (V2C) connectivity. • Rise of autonomous driving technologies: Connected cars are a critical enabler of autonomous driving technologies, which have the potential to transform the automotive industry by eliminating the need for human interaction while driving. Connected cars provide the data connectivity, sensor fusion, and real-time processing capabilities required by autonomous vehicles to perceive their surroundings, make intelligent judgments, and navigate safely on the road.

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Market ChallengesInteroperability challenges: The connected car market is a complex ecosystem of parties, including automakers, technology companies, telecommunications providers, and regulatory agencies. Interoperability and compatibility between diverse systems, devices, and networks are critical for enabling seamless communication and the integration of connected car technology. However, interoperability issues develop as a result of proprietary technologies, varying standards, and opposing stakeholder interests. • Data privacy and security concerns: The increased volume of data created by connected cars raises worries about data privacy and security. Personal and sensitive information gathered by connected automobiles, such as location data and driving behavior, must be kept secure from unauthorized access, misuse, and breaches. Addressing these problems requires sophisticated data encryption, access restrictions, and compliance with data protection requirements such as GDPR.

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Market TrendsRise of electric and autonomous vehicles: Concerns about environmental sustainability, safety, and urban congestion are propelling electric vehicles (EVs) and autonomous vehicles (AVs) forward in the global connected car market. Connected car technologies are critical for enabling features such as predictive maintenance, remote diagnostics, and vehicle-to-infrastructure connection, all of which are required for mainstream adoption of EVs and autonomous vehicles. • Emergence of Mobility-as-a-Service (MaaS) Platforms: The rise of mobility-as-a-service (MaaS) platforms is transforming how individuals access and use transportation services. MaaS platforms combine many means of transportation, such as public transit, ride-sharing, bike-sharing, and car-sharing, into a single digital platform, providing customers with seamless and convenient mobility options. Connected automobiles are critical to MaaS ecosystems because they provide on-demand access to vehicles and allow for seamless interaction with other modes of mobility. Covid-19 Impacts The global connected car market relies on complex and interconnected supply chains. The pandemic disrupted manufacturing and supply chain operations worldwide, causing delays in the production and distribution of connected car components. Shortages of essential electronic components and logistical challenges affected the timely delivery of vehicles, leading to a slowdown in production and sales. Economic uncertainties resulting from the pandemic led to reduced consumer spending, impacting the automotive industry, including the connected car market. Consumers deferred or canceled purchases of new vehicles, affecting the adoption of connected car technologies. The economic downturn and financial uncertainties prompted some consumers to prioritize essential expenses over discretionary spending on advanced vehicle features. The pandemic disrupted the deployment and integration of connected car services and technologies. Development projects and collaborations between automotive manufacturers, technology companies, and service providers were delayed or put on hold. The focus shifted towards addressing immediate challenges, diverting resources from long-term innovation and development efforts. Automotive events, conferences, and exhibitions, which play a crucial role in showcasing new technologies and fostering collaborations, were either canceled or moved to virtual platforms. The absence of in-person events limited networking opportunities and slowed down the exchange of ideas and innovations within the connected car industry. The pandemic has altered consumer priorities and preferences, with an increased focus on health, safety, and contactless experiences. While connected car features related to safety and remote monitoring gained importance, non-essential features related to in-car entertainment and luxury experienced reduced demand. Based on technology segment market is divided into 4G/LTE, 3G, and 5G. 5G technology is expected to grow at fastest rate in global connected cars market. Based on connectivity solutions segment of the market includes integrated, embedded and tethered. Embedded connectivity solutions segment is anticipated to grow at rapid pace in global connected cars market. 5G technology provides much greater data speeds than previous generations of wireless technology, potentially up to 100 times faster than 4G/LTE networks. This ultra-fast connectivity allows for real-time communication, high-definition streaming, and seamless access to cloud-based services and applications in connected cars, improving the entire driving experience for consumers. 5G networks have low latency and great dependability, making them perfect for mission-critical applications like autonomous driving, vehicle-to-vehicle communication, and real-time navigation in connected vehicles. 5G technology's low latency guarantees quick responses to key commands and notifications, improving road safety and efficiency. 5G technology serves as a key enabler for advanced features and services in connected cars, including augmented reality (AR) navigation, immersive entertainment, remote vehicle control, and predictive maintenance. The high bandwidth and low latency of 5G networks unlock new possibilities for innovation, allowing automotive manufacturers and service providers to deliver immersive and personalized experiences that were previously not feasible with older generations of wireless technology. Embedded connectivity solutions are built right into the vehicle's hardware and architecture during the production process. This seamless integration means that connection elements are included from the start, resulting in a dependable and consistent user experience that is firmly connected with the vehicle's current systems and interfaces. As automobile manufacturers promote embedded connectivity in new car models, the market for embedded solutions is likely to grow significantly. Embedded connectivity systems provide continuous connectivity and seamless access to cloud-based services and applications throughout a vehicle's life cycle. This constant connectivity enables over-the-air (OTA) software updates, firmware upgrades, and security fixes, ensuring that connected car features stay current and secure over time. The capability to distribute OTA updates through embedded connectivity improves the lifetime and value proposition of connected cars, driving demand for embedded solutions. Based on application segment market includes driver assistance, safety, infotainment, telematics, fleet management (vehicle), mobility management and others. Safety application is expected to grow at significant pace in global connected cars market during the forecast period. Based on end market segment market includes original equipment manufacturer (OEM) and aftermarket. Aftermarket end market is expected to grow rapidly in global connected cars market in upcoming time frame. Safety remains a primary focus for automakers, regulators, and customers alike. Connected automobiles provide sophisticated safety features and applications that use connectivity and technology to improve driver and passenger safety on the road. These features include collision detection, lane departure warning, pedestrian recognition, adaptive cruise control, automated emergency braking, and blind-spot monitoring, among others. As people become more conscious of the importance of road safety, there will be a greater need for connected automobile safety apps. Connected vehicles are increasingly outfitted with advanced driver assistance systems (ADAS), which provide a variety of safety features and functionality. These technologies rely on connectivity to communicate with other vehicles, infrastructure, and smart city systems, which improves situational awareness and prevents accidents. Features such as autonomous emergency braking, lane-keeping assistance, and traffic sign recognition leverage connectivity to provide real-time feedback and assistance to drivers, reducing the likelihood of collisions and improving overall road safety. As consumers become more aware of and accept connected car technology, there is an increasing need to upgrade their existing vehicles with aftermarket connected car solutions. Many drivers desire to benefit from connectivity features such as real-time navigation, remote vehicle monitoring, and entertainment streaming without having to buy a new vehicle. As a result, the aftermarket industry is well-positioned to capitalize on this demand by providing a diverse range of retrofit solutions and upgrade packages that add connection features to older vehicles. Aftermarket connected automobile solutions are generally less expensive and more accessible than OEM-installed options, making them appealing to a wide spectrum of users. Retrofitting older vehicles with aftermarket connectivity options enables drivers to reap the benefits of connected car technology without the upfront cost of purchasing a new vehicle. Additionally, aftermarket solutions are available through a variety of channels, including online retailers, automotive specialty shops, and electronics stores, making them easily accessible to consumers. Based on report market includes five major regions North America, Europe, Asia-Pacific, South America and Middle East & Africa. Asia-Pacific region is expected to grow at rapid pace in global connected cars market. The Asia-Pacific region is rapidly urbanizing, with an increasing population moving to cities in quest of greater opportunities and a higher quality of life. As urbanization grows, so does demand for personal mobility, resulting in an increase in automobile ownership rates. Furthermore, rising disposable incomes in countries such as China, India, and Southeast Asia are pushing up consumer expenditure on automotive products and services, including connected vehicles. Governments throughout Asia-Pacific are launching initiatives and investing in infrastructure to facilitate the rise of connected vehicles and smart mobility solutions. These initiatives include investments in smart transportation infrastructure, the creation of smart cities, and the promotion of electric and connected vehicles through incentives, subsidies, and regulations. The government's support for connected car technologies is driving innovation and adoption in the region, creating new opportunities for growth and investment. Consumers in the Asia-Pacific region are increasingly looking for vehicles with sophisticated technologies and features, such as connectivity, infotainment systems, and driver assistance systems. As demand for connected cars rises, automakers are increasing production and offering new models with integrated connectivity technologies to fulfill consumer expectations and stay competitive in the market. Furthermore, technology businesses are increasing their presence in the region to capitalize on the growing need for connected automotive solutions. Asia-Pacific is home to some of the world's largest automobile markets, including China, Japan, and India, as well as rising markets like Indonesia, Thailand, and Vietnam. The region's growing automotive sector and manufacturing skills make it an important location for connected vehicle production and innovation. Automobile manufacturers and technology providers are establishing partnerships and production facilities in the region to cater to local demand and leverage Asia-Pacific's growing influence in the global automotive market. The competitive landscape of the connected car market is dynamic and characterized by the presence of diverse players spanning automotive manufacturers, technology companies, telecommunications providers, and startups. These entities contribute to the development, integration, and proliferation of connected car technologies. Traditional automotive manufacturers play a significant role in the connected car market by integrating connectivity features directly into their vehicles. Companies such as General Motors, Ford, Toyota, and BMW are incorporating advanced infotainment systems, telematics, and driver assistance technologies into their vehicles. OEMs often collaborate with technology partners to enhance their connected car offerings. Technology giants are increasingly entering the connected car space, leveraging their expertise in software, artificial intelligence, and cloud computing. Companies like Apple, Google (through Android Auto), and Microsoft are developing platforms and ecosystems that seamlessly integrate with connected vehicles, providing services such as voice-activated controls, navigation, and in-car entertainment. The success of connected cars relies heavily on robust communication networks. Telecommunications companies like Verizon, AT&T, and Vodafone play a crucial role by providing the necessary connectivity infrastructure, including 4G and 5G networks. These providers are pivotal in enabling real-time data transfer, over-the-air updates, and other connected car services. Automotive suppliers, often referred to as Tier 1 suppliers, contribute essential components and systems to connected cars. Companies like Bosch, Continental, and Denso specialize in providing sensors, communication modules, and other hardware crucial for the functioning of connected car technologies. These suppliers work closely with OEMs to integrate advanced systems seamlessly. The connected car market is also influenced by a multitude of startups and niche players specializing in specific aspects of connectivity. These include companies focusing on cybersecurity for connected vehicles (e.g., Argus Cyber Security), AI-powered navigation (e.g., WayRay), and advanced driver assistance systems (e.g., Mobileye). These players often bring innovation and agility to the market, contributing to its overall dynamism. • April 2022 – Airbiquity®, a global leader in connected vehicle services, launched DATAmatic®, a suite of edge data management solutions to address the increasing need for services and tools that help automakers manage and monetize connected vehicle data. The suite includes the DATAmatic Edge Data Platform and DATAmatic Edge Data Logger. • January 2022 – Airbiquity®, a global leader in connected vehicle services, announced an advancement in its collaboration with Renesas, a premier supplier of advanced semiconductor solutions. This expanded technology integration involves the Renesas R-Car S4 system-on-chip (SoC) and the Airbiquity OTAmatic® software management platform. • In April 2022, Obigo Inc. (Obigo) and Korea Electric Technology Institute (KETI) collaborated to develop 5G-NR-V2X technologies for connected and autonomous automobiles. • In January 2022, Aptiv PLC announced a next-generation advanced driver-assistance system (ADAS) for driverless and electrified vehicles. Because of Aptiv's scalable architecture will help to reduce the cost of software-driven automobiles. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Connected Car market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Technology • 4G/LTE • 3G • 5G By Connectivity Solutions • Integrated • Embedded • Tethered By Application • Driver Assistance • Safety • Infotainment • Telematics • Fleet Management (Vehicle) • Mobility Management • Others By End Market • Original Equipment Manufacturer (OEMs) • Aftermarket The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Connected Car industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

Companies Mentioned

  • BMW Group
  • Ford Motors
  • Tesla
  • Volkswagen
  • Robert Bosch GmbH
  • Visteon Corporation.
  • Denso Corporation
  • TomTom N.V.
  • The Mercedes-Benz Group AG
  • Continental AG

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers & Opportunities
  • 2.2. Market Restraints & Challenges
  • 2.3. Market Trends
  • 2.4. Covid-19 Effect
  • 2.5. Supply chain Analysis
  • 2.6. Policy & Regulatory Framework
  • 2.7. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Global Connected Cars Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Region
  • 6.3. Market Size and Forecast, By Geography
  • 6.4. Market Size and Forecast, By Technology
  • 6.5. Market Size and Forecast, By Connectivity Solutions
  • 6.6. Market Size and Forecast, By Application
  • 6.7. Market Size and Forecast, By End Market
  • 7. North America Connected Cars Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share By Country
  • 7.3. Market Size and Forecast, By Technology
  • 7.4. Market Size and Forecast, By Connectivity Solutions
  • 7.5. Market Size and Forecast, By Application
  • 7.6. Market Size and Forecast, By End Market
  • 8. Europe Connected Cars Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share By Country
  • 8.3. Market Size and Forecast, By Technology
  • 8.4. Market Size and Forecast, By Connectivity Solutions
  • 8.5. Market Size and Forecast, By Application
  • 8.6. Market Size and Forecast, By End Market
  • 9. Asia-Pacific Connected Cars Market Outlook
  • 9.1. Market Size By Value
  • 9.2. Market Share By Country
  • 9.3. Market Size and Forecast, By Technology
  • 9.4. Market Size and Forecast, By Connectivity Solutions
  • 9.5. Market Size and Forecast, By Application
  • 9.6. Market Size and Forecast, By End Market
  • 10. South America, Middle East & Africa Connected Cars Market Outlook
  • 10.1. Market Size By Value
  • 10.2. Market Share By Region
  • 10.3. Market Size and Forecast, By Technology
  • 10.4. Market Size and Forecast, By Connectivity Solutions
  • 10.5. Market Size and Forecast, By Application
  • 10.6. Market Size and Forecast, By End Market
  • 11. Competitive Landscape
  • 11.1. Competitive Dashboard
  • 11.2. Business Strategies Adopted by Key Players
  • 11.3. Key Players Market Share Insights and Analysis, 2022
  • 11.4. Key Players Market Positioning Matrix
  • 11.5. Porter's Five Forces
  • 11.6. Company Profile
  • 11.6.1. Robert Bosch GmbH
  • 11.6.1.1. Company Snapshot
  • 11.6.1.2. Company Overview
  • 11.6.1.3. Financial Highlights
  • 11.6.1.4. Geographic Insights
  • 11.6.1.5. Business Segment & Performance
  • 11.6.1.6. Product Portfolio
  • 11.6.1.7. Key Executives
  • 11.6.1.8. Strategic Moves & Developments
  • 11.6.2. AT&T Inc
  • 11.6.3. Visteon Corporation
  • 11.6.4. Denso Corporation
  • 11.6.5. TomTom N.V.
  • 11.6.6. Tesla, Inc.
  • 11.6.7. Ford Motor Company
  • 11.6.8. Volkswagen AG
  • 11.6.9. The Mercedes-Benz Group AG
  • 11.6.10. Bayerische Motoren Werke AG
  • 12. Strategic Recommendations
  • 13. Annexure
  • 13.1. FAQ`s
  • 13.2. Notes
  • 13.3. Related Reports
  • 14. Disclaimer

List of Tables

Table 1: Global Connected Cars Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Influencing Factors for Connected Cars Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Connected Cars Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Connected Cars Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 8: Global Connected Cars Market Size and Forecast, By Connectivity Solutions (2018 to 2029F) (In USD Billion)
Table 9: Global Connected Cars Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 10: Global Connected Cars Market Size and Forecast, By End Market (2018 to 2029F) (In USD Billion)
Table 11: North America Connected Cars Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 12: North America Connected Cars Market Size and Forecast, By Connectivity Solutions (2018 to 2029F) (In USD Billion)
Table 13: North America Connected Cars Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 14: North America Connected Cars Market Size and Forecast, By End Market (2018 to 2029F) (In USD Billion)
Table 15: Europe Connected Cars Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 16: Europe Connected Cars Market Size and Forecast, By Connectivity Solutions (2018 to 2029F) (In USD Billion)
Table 17: Europe Connected Cars Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 18: Europe Connected Cars Market Size and Forecast, By End Market (2018 to 2029F) (In USD Billion)
Table 19: Asia-Pacific Connected Cars Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 20: Asia-Pacific Connected Cars Market Size and Forecast, By Connectivity Solutions (2018 to 2029F) (In USD Billion)
Table 21: Asia-Pacific Connected Cars Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 22: Asia-Pacific Connected Cars Market Size and Forecast, By End Market (2018 to 2029F) (In USD Billion)
Table 23: South America, Middle East & Africa Connected Cars Market Size and Forecast, By Technology (2018 to 2029F) (In USD Billion)
Table 24: South America, Middle East & Africa Connected Cars Market Size and Forecast, By Connectivity Solutions (2018 to 2029F) (In USD Billion)
Table 25: South America, Middle East & Africa Connected Cars Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 26: South America, Middle East & Africa Connected Cars Market Size and Forecast, By End Market (2018 to 2029F) (In USD Billion)

List of Figures

Figure 1: Global Connected Cars Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Connected Cars Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Connected Cars Market Share By Region (2023)
Figure 6: North America Connected Cars Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Connected Cars Market Share By Country (2023)
Figure 8: Europe Connected Cars Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Europe Connected Cars Market Share By Country (2023)
Figure 10: Asia-Pacific Connected Cars Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Asia-Pacific Connected Cars Market Share By Country (2023)
Figure 12: South America, Middle East & Africa Connected Cars Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: South America, Middle East & Africa Connected Cars Market Share By Country (2023)
Figure 14: Competitive Dashboard of top 5 players, 2023
Figure 15: Market Share insights of key players, 2023
Figure 16: Porter's Five Forces of Global Connected Cars Market

Market Research FAQs

The key drivers of the global connected car market include the increasing demand for safety and convenience features, advancements in communication technologies (such as 5G), the pursuit of autonomous driving capabilities, and the growing emphasis on personalized user experiences.

Connected cars enhance road safety through features like collision detection, automatic emergency braking, lane departure warnings, and real-time traffic updates. These systems leverage sensors and communication networks to anticipate and prevent potential accidents.

Original Equipment Manufacturers (OEMs) are crucial in the connected car market as they integrate connectivity features directly into vehicles during the manufacturing process. OEMs collaborate with technology partners to offer factory-installed connected car solutions, ensuring optimal performance and compatibility.

Connectivity is a key enabler for autonomous driving. Connected cars can communicate with each other and with infrastructure, providing real-time data that enhances the capabilities of autonomous vehicles. This communication is essential for ensuring safe and efficient navigation in complex traffic scenarios.

The connected car market faces challenges such as cybersecurity threats, fragmented regulatory landscapes, supply chain disruptions, and the need for standardized communication protocols. Overcoming these challenges is crucial for the sustainable growth of the industry.

The implementation of 5G technology significantly impacts connected cars by providing high-speed, low-latency connectivity. 5G enables seamless communication between vehicles, infrastructure, and the cloud, supporting advanced applications like real-time traffic updates, high-definition mapping, and immersive in-car entertainment.

Telematics in connected cars involves the collection and transmission of real-time data related to vehicle performance, fuel efficiency, and maintenance needs. This data is utilized for remote diagnostics, predictive maintenance, and efficient fleet management, leading to cost savings for both consumers and businesses.

Future trends in the connected car market include the continued development of autonomous driving technology, the integration of edge computing for faster data processing, the expansion of connected car services in smart city ecosystems, and the rise of AI-driven personalization for a more customized in-car experience.
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Global Connected Car Market Research Report, 2024-29

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