Connected Car Market
Connected Car Market size is poised to touch USD 266 Billion by 2027, expanding at a CAGR of 25.6% over the forecast period, owing to the increasing adoption of integrated connectivity. Connected car is connected to internet via a wireless local area network (WLAN) that enables to share data with other devices.
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Factors such as ongoing technological innovation, rising demand for better user comfort, and growing adoption of in-vehicle connectivity solution are projected to drive the market size. The in-vehicle connectivity solution allows the user to connect their smartphones with the connectivity system of the vehicle to make or receive calls. Further, with the integration of advanced diagnostic system in the connected car, users can track the fuel consumption, smoke emission, and overall health of the engine, which will further bolster the market size. Moreover, intensified initiatives by the government to develop smart transportation system to ensure the safety of passenger and driver will further augment the connected car market share.
Asia-Pacific is anticipated to lead the market over the forecast period owing to the advent of autonomous vehicle technology in the APAC region. Rapid urbanization, accelerating population, and economic expansion have bolstered the global connected car market growth. Further, growing demand for infotainment and navigation services in the developing nations such as Japan, India, China and South Korea and the rising focus to develop platforms needed for connected cars may raise the market growth.
Key Developments
In 2020, Continental AG introduced an online portal to mechanize software development and incorporation in the vehicles. This new vehicle reserves money and time in the vehicle development process, thereby decrease the cost for all the parties involved while improving the software quality.
In 2018, Airbiquity joined Japan Automotive Software Platform and Architecture (JASPAR) to integrate connected vehicle software development and technology to expand in one or more technical working groups.
Connected Car Market Segmentation:
Connected Car Market by Service
· Operational Data
· Navigation
· Remote Diagnostics
· Multimedia Streaming
· Social Media & Other Apps
· Ota Updates
· On-Road Assistance
· E-Call & Sos Assistance
· Cybersecurity
· Remote Operation
· Collision Warning
· Auto Parking/Connected Parking
· Autopilot
· Home Integration
· Vehicle Management
· Asset Tracking
Connected Car Market by Form
· Operational Data
· Embedded
· Tethered
· Integrated Convenience Stores
Connected Car Market by End Market
· Original Equipment Manufacturer (OEM)
· Aftermarket Tethered
Connected Car Market by Hardware
· Head Unit
· Central Gateway (CGW)
· Intelligent Antenna
· Electronic Control Unit (ECU)
· Telematic Control Unit (TCU)
· Keyless Entry Systems
· Sensors
Connected Car Market by Transponder
· Onboard Unit
· Roadside Unit
Connected Car Market by Network
· Operational Data
· Dedicated Short Range Communication (DSRC)
· Cellular Roadside Unit
Connected Car Market by Region:
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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