The Connected Cars Market is anticipated to increase at a compound annual growth rate (CAGR) of 18.4% between 2023 and 2030, reaching a total value of USD 285.1 billion by that year. The connected cars market was estimated to be worth USD 28.50 billion in 2022. A automobile that has internet access and other communication devices is said to be connected. The automobile can now exchange data with other cars, infrastructure, and the cloud thanks to this. Navigation, safety warnings, entertainment, and remote diagnostics are just a few of the services that connected automobiles may offer.
Because of the ongoing development of communication technologies, as well as the growing use of smartphones and the internet, the connected cars market is expanding rapidly. The demand for connected cars is anticipated to skyrocket as people look for more convenience, safety, and entertainment alternatives while driving. Additionally, the expanding alliances and partnerships between technology and automobile manufacturers have sped up product development and market expansion. By offering faster data rates and reduced latency, the launch of 5G networks is also anticipated to transform the connected cars market, further fostering the industry's expansion.
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Key Companies Profiled in the Report is: Airbiquity Inc., CloudMade, Continental AG, Intellias Ltd., LUXOFT, Qualcomm Technologies, Inc., Robert Bosch GmbH, Sierra Wireless, Tesla, ZUBIE, INC., AT&T, Audi AG, BMW Group, Daimler AG, Ford Motor Company, Samsung Electronics, Telefonica S.A., TomTom
Global Connected Cars Market Split by Product Type and Applications:
This report segments on the basis of Types:
Software and Services
This report segments On the basis of Application:
Geographic Segment Covered in the Report:
Due to the presence of significant automobile manufacturers and IT behemoths there, North America has historically led the connected cars market in terms of geographical analysis. Europe has also been a sizable market, with favorable government regulations and a high rate of technology adoption. But over the predicted period, the Asia-Pacific area is expected to develop the quickest. It is anticipated that factors such as quick urbanization, rising disposable incomes, and a developing automotive sector in nations like China and India would fuel market rise in this area.
North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)
Covid-19 Impact and Recovery Analysis: Connected Cars Market
On the connected cars market, the COVID-19 epidemic had a conflicting effect. While there was a brief fall in car sales and production as a result of the first outbreak and subsequent lockdowns, the pandemic also emphasized the need of linked technology. Demand for connected automotive features increased as consumers' awareness of the necessity for remote connection, internet services, and contactless experiences increased. The connected cars market is anticipated to pick up steam as the globe progressively recovers from the pandemic, propelled by the ongoing digital revolution and a greater focus on intelligent and sustainable transportation solutions.
Current Forecast, Historic and Base year is as follows:
The latest Forecast year: 2023-2030
Historical Year – 2017-2021
Base Year - 2022
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Integration of artificial intelligence (AI) and machine learning algorithms, which improve vehicle performance and provide consumers individualized experiences, is one of the key market developments influencing the connected cars market. Furthermore, the development of over-the-air (OTA) software updates enables automakers to remotely update vehicle software, enhancing functionality and security without necessitating actual trips to service facilities. Additionally, the idea of "mobility as a service" (MaaS) has gained popularity, encouraging shared transportation and diminishing individual automobile ownership. The development of ride-sharing and car-sharing services has been made easier by the introduction of connected cars, which has helped the sector as a whole expand.
Table of Content
Chapter 1: Global Connected Cars Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Connected Cars Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Connected Cars Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Connected Cars Size Forecast (2023-2030).
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