NEW YORK, Dec. 17, 2023 /PRNewswire/ — The Connected Car Market is estimated to increase at a CAGR of 27.36% during the forecast period. The Connected Car Market is fragmented owing to the presence of many global and regional companies.
What is the projected size of the Connected Car Market in the next five years?
The Connected Car Market is projected to reach a value of USD 246.24 billion in 2027. Download Free Sample before buying
What are some of the major companies operating in the Connected Car Market?
A few prominent companies are Alps Alpine Co. Ltd., AT and T Inc., BMW AG, DXC Technology Co., Ford Motor Co., Intellias group, Mercedes Benz Group AG, NXP Semiconductors NV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schaeffler AG, Sierra Wireless Inc., Telefonica SA, Tesla Inc. download the sample report
Company Offering:
Airbiquity Inc. – The company offers a full range of connected vehicle technologies and services, integration expertise, and solution hosting flexibility to its customers. The key offerings of the company include connected cars.
Are there any emerging technologies impacting the Connected Car Market? Buy the report to get the details
What are the regional or global trends impacting the Connected Car Market?
North America is anticipated to contribute around 35% to the global market’s growth during the forecast period. The market’s growth in North America, notably driven by the US and Canada, is predominantly attributed to the integration of IoT technologies within automobiles and the increasing embrace of vehicle-to-vehicle (V2V) connectivity. Moreover, the enforcement of stringent regulations by the National Highway Traffic Safety Administration (NHTSA) aimed at enhancing road safety has spurred the adoption of connected features such as crash imminent braking, dynamic brake support, and pedestrian automatic emergency braking in vehicles.
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Market Dynamics
What are the main growth drivers for the Connected Car Market?
The government regulations to increase in-vehicle safety and improvement in safety controls are notably driving the market growth.
What trends are emerging in the Connected Car Market?
Big data platforms provided by connected cars to push further developments are emerging trends in the market.
What are some of the challenges faced by the Connected Car Market?
Data challenges associated with connected cars are major challenges impeding market growth. Market Segmentation
How is the Connected Car Market segmented by type?
Substantial growth is expected in the market share of the embedded solutions segment during the forecast period. Recent advancements have seen the integration of telematics, navigation systems, and smartphone integration within in-vehicle infotainment systems. This transition entails a shift towards incorporating embedded software and smartphone-based applications, offering a spectrum of services encompassing entertainment, navigation, external communications, security, and Internet-based functionalities.
How does “The Interconnected World of Connected Car Technologies” shape the future of automotive innovation?
- Telematics, Vehicle-to-Everything (VX), and Infotainment technologies spearhead the Connected Car realm, fostering Intelligent Transportation Systems (ITS) and robust Connectivity Solutions.
- Automotive IoT advancements redefine Fleet Management and elevate the functionality of Advanced Driver Assistance Systems (ADAS).
- Cloud Services streamline operations, enabling Vehicle Diagnostics and a myriad of Mobile Apps for enhanced user experiences.
- In-Car Communication intertwines with stringent Cybersecurity measures to fortify systems against potential threats.
- Over-the-Air (OTA) Updates, GPS Technology, and Vehicle Sensors bolster operational efficiency, fueling Data Analytics driven by Artificial Intelligence (AI) in Automotive software.
- Connected Car Platforms and Vehicle Connectivity Modules form the backbone of Automotive Networking, enabling Smart Navigation and Remote Vehicle Control.
- The advent of Autonomous Driving, Digital Cockpit interfaces, and Predictive Maintenance herald a transformative era, reinforced by Blockchain in Automotive technologies.
- User Interface (UI) Design for Connected Cars optimizes user experiences, while Augmented Reality (AR) in Automotive reshapes interactions between users and vehicles.
This convergence of cutting-edge technologies in the Connected Car landscape represents an intricate web of interconnected data, revolutionizing the automotive industry’s efficiency, safety, and connectivity paradigms.
What are the different segments within the Connected Car Market?
The market is segmented by connectivity (embedded solutions, integrated solutions, and tethered solutions), end-user (OEM and aftermarket), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
Technavio Research experts have provided more insights on the market share of segments – View the Free Sample Report
The Dynamics of the Connected Car Market
The landscape of automotive technology has seen a paradigm shift, marked by the integration of various innovative solutions in the burgeoning Connected Car Market. Telematics, Vehicle-to-Everything (VX) communication, and Infotainment systems are revolutionizing driving experiences, merging seamlessly with Intelligent Transportation Systems (ITS) and Connectivity Solutions. This amalgamation brings forth the Automotive IoT era, fostering advancements in Fleet Management and Advanced Driver Assistance Systems (ADAS).
The backbone of this revolution lies in Cloud Services, Vehicle Diagnostics, and the ever-expanding realm of Mobile Apps, empowering users with In-Car Communication capabilities and robust Cybersecurity measures. Over-the-Air (OTA) Updates, coupled with GPS Technology and Vehicle Sensors, ensure efficient operations and enhanced Data Analytics, supported by the integration of Artificial Intelligence (AI) in Automotive software.
Connected Car Platforms and Vehicle Connectivity Modules drive Automotive Networking, powering Smart Navigation systems and enabling Remote Vehicle Control. The advent of Autonomous Driving, Digital Cockpit interfaces, and Predictive Maintenance mechanisms has reshaped automotive landscapes, utilizing Blockchain in Automotive and emphasizing User Interface (UI) Design for Connected Cars.
Augmented Reality (AR) in Automotive further elevates the user experience, positioning itself as a transformative force in the industry. The integration of these technologies within the Connected Car Market underscores an era of innovation, where the convergence of cutting-edge solutions propels the automotive domain into a realm of enhanced safety, efficiency, and interconnectedness.
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Related Reports:
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The electric car market is estimated to grow at a CAGR of 28.69% between 2022 and 2027. The size of the market is forecasted to increase by 22,644.59 thousand units.
Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Connectivity
7 Market Segmentation by End-User
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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