Connected Car Market Trend Analysis, Latest Revenue Figures
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

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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  • Gain authentic and granular data access for Connected Car Market so as to understand the trends and the factors involved behind changing market situations.
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

In addition to the market data for Connected Car Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.

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Connected Car Market Trend Analysis, Latest Revenue Figures
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