Covina, United States: Connected Cars Market, By Technology (2G, 3G and 4G/LTE), By Connectivity Solutions (Integrated, Embedded and Tethered), By Application (Driver Assistance, Safety, Entertainment, Well-being, Vehicle Management, and Mobility Management) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Trends, Analysis and Forecast till 2030
Connected Cars Market Outlook
- Market Value 2020: US$ 34.63 Bn
- Market Value Estimation 2030: US$ 194.12 Bn
- CAGR: 18.7%
A connected car is one that has two-way communication capabilities with external systems (LAN). Through this, a car enables the sharing of data and internet connection with other devices inside and outside the automobile. These vehicles feature a built-in connectivity technology that allows them to access the internet. It offers intelligent features like remote control of car systems, internet access, and high-tech security measures. Wi-Fi enabled cars also offer hands-free calling, quick navigation, weather forecasts, satellite music, and access to emergency services in addition to giving a convenient internet connection. Additionally, the manufacturers are now putting more of an emphasis on their research and development in an effort to change the automotive business.
Top News relating to Industry, Innovation:
- In Feb 2022- Maruti Suzuki had launched the new gen Baleno premium hatchback comprises of heavy tech features.
- In March 2022- Morris Garages (MG) had announced about their new launch of MG ZS EV which is having new and large touchscreen infotainment unit with better graphics and a more ergonomic menu layout.
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Key Segmentation of the Connected Cars market:
The global connected cars market accounted for US$ 34.63 billion in 2020 and is estimated to be US$ 194.12 billion by 2030 and is anticipated to register a CAGR of 18.7%. The global connected cars market is segmented based on technology, connectivity solutions, application and region.
- On the basis of technology, the global connected car market is segmented into 2G, 3G and 4G.
- Further, on the basis of connectivity solutions the market is segmented into integrated, embedded and tethered.
- On basis of application is segmented into driver assistance, safety, entertainment, well-being, vehicle management and mobility management.
- By region, the global connected cars market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The Connected Cars Market Report mentions the following promising regions:
- North America – U.S., Canada
- Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America – Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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Top-tier significant players:
The prominent player operating in the global Connected Cars market includes Telefonica, Verizon Wireless, HARMAN International., TomTom International BV., AT&T Intellectual Property, Vodafone Group, Ford Motor Company, BMW AG, AUDI AG., Mercedes-Benz.
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- Assessments of market share for the regional and national segments
- A description of the business, including its goals, finances, and most recent advancements.
- In addition to a comprehensive analysis of market share, the report contains data on significant drivers, restraints, and opportunities.
- The market power of consumers and suppliers is demonstrated via Porter’s five forces study.
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