Global Connected Cars Market, By Service (Navigation, Remote Diagnostics, Multimedia Streaming, Social Media and Other Apps, OTA Updates, On-Road Assistance, eCall and SOS Assistance, Cyber Security, Remote Operation, Collision Warning, Auto Parking or Connected Parking, Autopilot, Home Integration, Vehicle Management and Asset Tracking), Hardware Type (Head Unit, Central Gateway, Intelligent Antenna, Electronic Control Unit, Telematic Control Unit, Keyless Entry Systems and Sensors), Form Type (Embedded, Tethered and Integrated), End Market (OEM and Aftermarket), Transponder (Onboard unit and Roadside unit), Network (DSRC and Cellular) and Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Connected Cars Market
The connected cars market is expected to witness market growth at a rate of 21.19% in the forecast period of 2021 to 2028. Data Bridge Market Research report on connected cars market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the disposable incomes is escalating the growth of connected cars market.
A connected car is known to be a vehicle that can communicate bidirectionally with other systems outside of the car. It is armed with internet connectivity and, in several cases, a WLAN. This permits the car to download software and patches, contact and share data, connect with other internet of things (IoT) devices, and offer Wi-Fi for onboard passengers.
Major factors that are expected to boost the connected cars market in the forecast period are the rise in the need for enhanced user comfort, safety, and convenience. Furthermore, the decrease in the fuel consumption is further anticipated to propel the growth of the connected cars market. Moreover, the growing trend of automation in automotive sector is further anticipated to propel the growth of the connected cars market. On the other hand, the dearth of infrastructure for proper functioning of connected cars is further projected to impede the growth of the connected cars market in the timeline period.
In addition, the arrival of several technologies like 5G and AI will further provide potential opportunities for the growth of the connected cars market in the coming years. However, the cybersecurity might further challenge the growth of the connected cars market in the near future,
This connected cars market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the connected cars market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Connected Cars Market Scope and Market Size
The connected cars market is segmented on the basis of service, hardware type, form type, end market, transponder and network. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of service, the connected cars market has been segmented into navigation, remote diagnostics, multimedia streaming, social media and other apps, OTA updates, on-road assistance, ecall and SOS assistance, cyber security, remote operation, collision warning, auto parking or connected parking, autopilot, home integration, vehicle management and asset tracking.
- On the basis of hardware type, the connected cars market has been segmented into head unit, central gateway, intelligent antenna, electronic control unit, telematic control unit, keyless entry systems and sensors.
- On the basis of form type, the connected cars market has been segmented into embedded, tethered and integrated.
- On the basis of end market, the connected cars market has been segmented into OEM and aftermarket.
- On the basis of transponder, the connected cars market has been segmented into onboard unit and roadside unit.
- On the basis of network, the connected cars market has been segmented into DSRC and cellular.
Connected Cars Market Country Level Analysis
The connected cars market is analyzed, and market size, volume information is provided by country, service, hardware type, form type, end market, transponder and network as referenced above.
The countries covered in the connected cars market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
North America dominates the connected cars market due to the arrival of technological giants. Furthermore, the automobile manufacturers are forced to develop innovative capabilities and cultural changes to compete with them. This will further boost the growth of the connected cars market in the region during the forecast period. Asia-Pacific is projected to observe a significant amount of growth in the connected cars market due to smartphone penetration. Moreover, the employment of high-speed internet services and decreasing average selling price is further anticipated to propel the growth of the connected cars market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Connected Cars Market Share Analysis
The connected cars market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the connected cars market.
The major players covered in the connected cars market report are Daimler AG., General Motors, Tesla, Continental AG, Audi AG, HARMAN, BorgWarner Inc., Vodafone Group, AT&T Intellectual Property., DENSO CORPORATION, Robert Bosch GmbH, Airbiquity, Inc., NXP Semiconductors., Ford Motor Company, Microsoft Corporation, Tata Consultancy Services Limited, TOYOTA MOTOR CORPORATION,, Verizon, Intel Corporation and Visteon among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.