Connected Car Market — Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2026
Advancement in technology is changing the way cars are designed, developed, customized, sold, serviced, shared and owned. Currently, the automobile industry is witnessing one of the most fundamental shifts in history. Connected car offers connectivity on wheels offering convenience, comfort, safety, performance and security along with powerful network technology. This facilitates the driver to connect with enhanced online platforms, thereby facilitating real-time communication. Rising consumer demand for better connectivity solutions, surge in need for constant connectivity, emergence of various technologies such as 4G and AI and increasing popularity of automation in automotive sector are the key factors that help to drive the growth of the connected cars market. Over the years, various connectivity solutions have been developed by auto manufacturers and service providers, such as the V2V (vehicle to vehicle) and V2I (vehicle to infrastructure) communication. These features in a car enable interconnectivity to connected cars which are equipped with numerous sensors and processors that provide accurate and real-time information, further enhancing the driving experience. This in turn boost the adoption of connected cars across the world, thus driving the growth of the connected car market.
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Today, the population across the globe are becoming more tech-savvy, leading the concept of connected cars become a universal sensation. This growing sensation lead car manufacturers to focus on providing better connectivity solutions in their vehicles to boost their car sales, supplementing the growth of connected cars market. However, threat of data hacking, high installation cost, and lack of required infrastructure are among the critical factors that restrict the growth of connected cars market.
Insights Presented in the Report
Based on technology, the market is fragmented into 2G, 3G and 4G/LTE. “G” stands for generation. Connected cars needs to be connected with online platforms for enhanced real-time driving experience. Hence, these technologies facilitate a vehicle to remain in contact with such online platforms to get real-time information such traffic congestion
Based on connectivity solutions, the market is segmented into Integrated, Embedded and Tethered. These solutions are complemented by wide-ranging capabilities in automotive design and styling, development, validation, testing and system integration offering better driving experience in safety and reliability
Based on services, the market is bifurcated into Infotainment System, Navigation System and Telematics System. Automotive telematics, which combines vehicle informatics and telecommunications, enables vehicles to share data with the outside world to get real-time information as required
Based on end market, the market is bifurcated into OEMs and Aftermarket. With the evolution of technological advancements in the automobile industry, various market leaders have start producing vehicles having connectivity solutions to get maximum share of the market
For better understanding on the market dynamics of connected cars market, detailed analysis was conducted for different countries in the region including North America (United States, Canada and Rest of North America), Europe (Germany, UK, France, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), and Rest of the World
Some of the major players operating in the market include Robert Bosch GmbH, Continental AG, Autoliv Inc., Valeo SA, Tesla, Ford Motor Company, Audi AG, BMW Group, Daimler AG (Mercedes-Benz) and TomTom International N.V. among others.
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Reasons to buy this report:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
Detailed examination of drivers, restraints, key trends and opportunities prevailing in the industry
Examination of industry attractiveness with the help of Porter’s Five Forces analysis
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry
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