The Global Connected Car Solutions Market is expected to grow at a significant CAGR during the forecast period (2024-2031). A connected car can communicate with other systems outside of the vehicle in both directions. It has internet access and, in most circumstances, a wireless network. This enables the car to access and exchange data, download software and fixes, interact with other Internet of Things (IoT) devices, and give Wi-Fi to passengers onboard. Connected cars are simple to operate since they include modern technologies that allow the driver to utilize applications, link with IoTs for safety and security, contact the dealer for maintenance, and download software. Connected cars enable drivers to get to their destination quickly, safely, and economically. Even before the lights turn green, the linked automobile may automatically stop and start the vehicle.
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Respective governments in various nations are concentrating on requiring various Advanced Driver-Assistance Systems (ADAS) and safety features to reduce the incidence of car accidents and thereby avoid fatalities and injuries. As a result, the global connected car market is largely driven by the rise of ADAS technology in cars. In countries such as Europe and the UnS, ADAS features such as Anti-lock Braking System (ABS), Electronic Stability Control (ESC), and Autonomous Emergency Braking (AEB) have become mandatory in vehicles. The overall demand for connected cars has increased as a result of the government’s mandatory rules.
Other key factors driving the growth of the connected car market include increased demand for connectivity solutions, increased reliance on technology, and an increase in the tech-savvy population. Furthermore, technological improvements, increased vehicle manufacturing, and increased demand for luxury and comfort in cars are likely to drive market growth. Automakers are now adhering to new vehicle safety standards to improve vehicle safety and make them more secure against hacking and malfunction. As a result, demand for connected car systems is anticipated to increase.
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Market Coverage
- Segment Covered-
o By Application Type
o By Network Type
o By Technology Type
o By Sales Channel Type
o By Communication Type
- Competitive Landscape: Harman International, Continental AG, AT&T, Robert Bosch GmbH, Daimler AG, Audi, and TomTom Inc. among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Connected Car Solutions Market by Segments
By Application Type
- Mobility Management
- Telematics
- Infotainment
- Driver Assistance
By Network Type
- 3G
- 4G
- 5G
- Satellite
By Technology Type
- Embedded
- Tethered
- Integrated
By Sales Channel Type
- OEM
- Aftermarket
By Communication Type
- Vehicle to Vehicle
- Vehicle to Infrastructure
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