Connected car facilitates connectivity on wheels offering comfort, convenience, performance
The Connected Car Market size is projected to reach a CAGR of 19.9% from 2022 to 2028.
Connected car facilitates connectivity on wheels offering comfort, convenience, performance, safety, and security along with powerful network technology. This enables the driver to connect with online platforms, thereby facilitating real-time communication. Rise in consumer demand for connectivity solutions, surge in need for constant connectivity, increase in dependency on technology, and upsurge in tech-savvy population are the key factors that contribute toward the growth of the global connected cars market.
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Over time, various connectivity solutions have been developed by car manufacturers and service providers, such as the machine-to-machine (M2M) connectivity platform. This M2M feature in a car enables interconnectivity between two connected cars. The car is equipped with numerous sensors and processors, which provide accurate and real-time information to the driver.
Recent Developments
In November 2021, Continental developed a technology solution for highly automated driving: an intelligent software that enables complex driving maneuvers autonomously. The Next Generation Driving Planner is an innovative software solution that enables highly automated driving from Level 3. This means that vehicles can master certain driving tasks independently and without driver intervention.
In January 2021, HARMAN announced HARMAN Turbo Connect (TBOT), a new intelligent software agent that anticipates and mitigates vehicle connectivity discrepancies on the road. The newest solution in HARMAN’s telematics portfolio, HARMAN TBOT satisfies the current demand for high-speed connectivity with low latency, especially when used alongside 5G-enabled technologies like HARMAN’s Smart Conformal Antenna and full 5G and 5G-ready Telecommunications Control Units (TCU).
Prominent Players
- Bosch
- Continental AG
- Delphi Technologies PLC
- DENSO Corporation
- Harman International Industries, Inc.
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Toyota Motor Corporation
- Valeo
- ZF Friedrichshafen AG
- BorgWarner.
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Asia Pacific to Dominate the Market
The Asia Pacific market is expected to witness the highest CAGR during the forecast period, especially in Japan and China. The growth of the US market is driven primarily by increasing vehicle safety and security norms, demand for vehicle-to-vehicle (V2V) connectivity technology, and the incorporation of IoT in the automotive industry.
Connected Car Market Segmentation:
On the basis of Service
· Navigation
· Remote Diagnostics
· Multimedia Streaming
· Social Media & Other Apps
· OTA Updates
· On-Road Assistance
· eCall & SOS Assistance
On the basis of Hardware
· Head Unit
· Central Gateway
· Intelligent Antenna
· Electronic Control Unit
· Telematic Control Unit
· Keyless Entry Systems
· Sensors
On the basis of Form Type
· Embedded
· Tethered
· Integrated
On the basis of End Market
· OEM
· Aftermarket
On the basis of Transponder
· Onboard unit
· Roadside unit
On the basis of Vehicle Type
· BEV
· PHEV
· FCEV
On the basis of Network
· DSRC
· Cellular
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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