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Connected Car Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Report Format: PDF+Excel | Report ID: SR112023A5533
Market Overview:
The global connected car market reached a value of US$ 62.83 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 156.6 Billion by 2027, exhibiting a CAGR of 15.30% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Connected cars refer to vehicles that are equipped with internet connectivity and advanced communication technologies to facilitate the exchange of information via numerous communication channels. They are designed to offer improved vehicle performance, enhanced convenience to the users, and efficient interaction of the transport system with its surroundings to prevent road accidents and notify prompts regarding parking space availability. They also provide real-time traffic alerts to the driver and alarm emergency services in case of an unfortunate circumstance. Along with this, these alerts and signals further aid in enhancing the overall traffic performance and road safety management while ensuring optimal driving comfort. The growing dependency on uninterrupted connectivity to access navigation services is providing a thrust to the market growth.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Connected Car Market Trends:
The market is primarily driven by the increasing demand for in-car safety solutions. In line with this, the widespread integration of connected cars with advanced driver-assistance systems (ADAS) for mapping road obstacles and anti-lock braking systems (ABS) to enable safe braking is expected to create a positive outlook for the market. Moreover, the advent of 5G connectivity and the rising utilization of artificial intelligence (AI) and machine-to-machine (M2M) interconnectivity between multiple cars are favorably impacting the market. In line with this, continual developments in the manufacturing of advanced suspension systems are also providing an impetus to the market. The market is further driven by the escalating popularity of luxury cars among individuals with high disposable income levels and the emergence of autonomous driving trends. Some of the other factors contributing to the market growth include rapid digitization across the automotive sector and extensive research and development (R&D) activities conducted by key players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global connected car market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, connectivity solutions, service and end market.
Breakup by Technology:
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- 3G
- 4G/LTE
- 5G
Breakup by Connectivity Solutions:
- Integrated
- Embedded
- Tethered
Breakup by Service:
- Driver Assistance
- Safety
- Entertainment
- Vehicle Management
- Mobility Management
- Others
Breakup by End Market:
- Original Equipment Manufacturer (OEMs)
- Aftermarket
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AT&T Inc., Audi AG (Volkswagen AG), Bayerische Motoren Werke AG, Continental AG, Ford Motor Company, Mercedes-Benz Group AG, Qualcomm Incorporated, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sierra Wireless, Tesla Inc., TomTom N.V., Valeo, Verizon Communications Inc. and Vodafone Group Plc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Technology, Connectivity Solutions, Service, End Market, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | AT&T Inc., Audi AG (Volkswagen AG), Bayerische Motoren Werke AG, Continental AG, Ford Motor Company, Mercedes-Benz Group AG, Qualcomm Incorporated, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sierra Wireless, Tesla Inc., TomTom N.V., Valeo, Verizon Communications Inc. and Vodafone Group Plc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global connected car market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global connected car market?
- What are the key regional markets?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the connectivity solutions?
- What is the breakup of the market based on the service?
- What is the breakup of the market based on the end market?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global connected car market and who are the key players?
- What is the degree of competition in the industry?
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