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Global Connected Car Market is predicted to reach USD 170.0 Billion at a CAGR of 25.20% during the forecast period

Market Research Future (MRFR) Published a Half-Cooked Research Report on "Connected Car Market" Research Report.


MRFR recognizes the following companies as the key players in the global Connected Car Market— Morris Garage Motor India, Bosch, Maruti Suzuki, Payment24, Airbiguity, Harman International, Continental AG, Daimler AG, General Motors, Hyundai Motor Group, Volvo, Ford Motor Company, and Audi.


Market Highlights


The global Connected Car Market is accounted to register a CAGR of 25.20% during the forecast period and is estimated to reach USD 170.0 Billion by 2032.


The global connected car market refers to the integration of automobiles with internet connectivity and various technologies, enabling communication and data exchange between vehicles, infrastructure, and other connected devices. These advanced features enhance the overall driving experience, safety, and efficiency of vehicles.


Segment Analysis


The global Connected Car Market has been segmented based on Network Type, Technology, and Application


The Connected Car Market segmentation, based on network type, includes 3G, 4G, 5G, and Satellite. The 5G segment is expected to dominate the connected car market during the forecast years as most of the telecommunication market players are developing advanced 5G networks for improved communication in connected vehicles and external devices. Road accidents of more than 60% can be avoided using the seamless 5G network. The satellite segment market is expected to be popular at rapid rate during the forecast period.


The Connected Car Market segmentation, based on technology, includes Embedded, Tethered, and Integrated. The integrated segment of the technology is anticipated to dominate the market as this system offers unlimited data-sharing possibilities and is low-cost compared to embedded and tethered systems. Furthermore, the embedded segment is the second-fastest growing segment for reasons like cost optimization of service plans and cloud services.


The Connected Car Market segmentation, based on application, includes Mobility Management, Telematics, Infotainment, and Driver Assistance. The driver assistance segment is expected to dominate the market as their advanced system includes technologically advanced features like adaptive cruise control, 360 view camera, park assist, etc. Further, the mobility management segment is the second-fastest growing segment of application in the connected car market.


 


Regional Analysis


The global Connected Car Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Connected Car market dominates the market due to the growth of the connected car network. The investment by the key telecommunication companies in developing the capabilities of connected cars and the rising sales of vehicles throughout the region. The US is the largest contributor for the growth of the connected car market in the North American region. Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Europe's Connected Car market accounts for the second-largest market share owing to the increase in investment to enable the adoption of cybersecurity in connected cars and the introduction of new advanced technology by the manufacturers. Further, the German Connected Car market held the largest market share, and the UK Connected Car market was the rapid-growing market in the European region.


The Asia-Pacific Connected Car Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the increasing manufacturing operations developments related to connected services and the adoption of the 5G network for connected cars. Moreover, China’s Connected Car market held the largest market share, and the Indian Connected Car market was the rapid-growing market in the Asia-Pacific region.


Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Connected Car Market Research Report


Key Findings of the Study



  • The global Connected Car Market is expected to reach USD 170.0 Billion by 2032, at a CAGR of 25.20% during the forecast period.

  • The Asia-Pacific Connected Car Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the increasing manufacturing operations developments related to connected services and the adoption of the 5G network for connected cars.

  • The Connected Car Market segmentation, based on network type, includes 3G, 4G, 5G, and Satellite. The 5G segment is expected to dominate the connected car market during the forecast years as most of the telecommunication market players are developing advanced 5G networks for improved communication in connected vehicles and external devices.

  • Morris Garage Motor India, Bosch, Maruti Suzuki, Payment24, Airbiguity, Harman International, Continental AG, Daimler AG, General Motors, Hyundai Motor Group, Volvo, Ford Motor Company, and Audi.

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Report details
Companies Covered 15
Pages 100
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
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