Connected Car Market Size – Global Opportunities & Forecast, 2020-2027

Apr 7 02:00 2022 GMI Research54 Print This Article

Connected car market is anticipated to grow at a CAGR of 25.6% during forecast period and estimated to reach USD 266 billion by 2027

Global Connected Car Market

The GMI Research report asserts a robust growth of 17.1% in the Connected Car Market over the forecast period. Connected car simplify the vehicle connectivity system proffering performance,Guest Posting convenience, and safety. The surge in need for uninterrupted connectivity and increasing reliance on technology will stimulate market growth.

Introduction of the Connected Car Market

A connected car refers to a vehicle connected to the internet, usually via a wireless local area network to enable the car to allocate internet access and data with different devices inside and outside the car. The internet connections assist by sending collision warnings and safety alerts to the vehicle. A connected car assists with a wide range of valuable functions. The car's traffic supervisory shows traffic information, which allows the driver to ascertain whether to set back on the route or go after with the best route proffered by the system. Also, the connected car offers exceptional advantages such as voice commands, internet radio, roadside support, and contextual help, which help enhance the driver's complete experience.

Key Players of the Market:
  • Ford Motor Company
  • Airbiquity Inc.
  • Cloudmade
  • Tesla
  • Sierra Wireless
  • AT & T
  • Qualcomm Technologies, Inc.
  • TomTom International BV
  • Robert Bosch GmbH.
  • Continental AG
Connected Car Market Dynamics

The in-vehicle connectivity solutions allow the users to synchronize their smartphones with the connectivity system of automotive to receive or make phone calls, thus captivating a large consumer base towards the adoption of connected cars. The growing demand for better comfort of the user and increasing drift towards in-vehicle connectivity solutions will among the desired consumers has strengthened the market size. Several leading giants are increasingly emphasizing the development of sophisticated connecting systems which operate like tablets and smartphones of the end-users, which will steer the growth of the global connected car market. Additionally, the incorporation of a pioneering diagnostic system will significantly complement the market growth. The diagnostic system keeps track of the smoke ejection and fuel utilization, thereby administering the comprehensive health of the engine. The intensified initiatives by the government, such as innovations in smart transportation systems to enhance the safety of drivers and passengers, have encouraged market growth. However, the breakage chances of the in-vehicle connectivity system will restrain the market growth.

Form Segment Drivers

On the basis of Form, the embedded form of connectivity is anticipated to expand at a significant growth over the coming years. This is because of the aggravating demand for cloud-based services and the facile accessibility of economical service plans. The implanted connectivity solution in the car enables distant diagnostics and Ecalls, thereby propelling the market share. In addition, the government across several nations has implemented regulations in order to authorize the embedded form of connectivity. For instance, the Russian and Brazilian governments will sanction the appendage of embedded telematics.

End Market Drivers

By End Market, the Aftermarket segment is projected to perceive robust growth over the coming years. This is because of the aggravating demand for these services among consumers across the globe. The aftermarket services enable consumers to personalize their vehicles depending on their choice and introduce new technologies to the historic cars that never provided them. Thus, these beneficial features will captivate a large number of individuals seeking to personalize their vehicles depending on their importance.

Connected Car Market Segmentation: Segmentation 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
Segmentation Market by Form
  • Operational Data
  • Embedded
  • Tethered
  • Integrated Convenience Stores
Segmentation by End Market
  • Original Equipment Manufacturer (OEM)
  • Aftermarket Tethered
Segmentation by Hardware
  • Head Unit
  • Central Gateway (CGW)
  • Intelligent Antenna
  • Electronic Control Unit (ECU)
  • Telematic Control Unit (TCU)
  • Keyless Entry Systems
  • Sensors
Segmentation by Transponder
  • Onboard Unit
  • Roadside Unit
Segmentation by Network
  • Operational Data
  • Dedicated Short Range Communication (DSRC)
  • Cellular Roadside Unit
Segmentation by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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GMI Research54
GMI Research54

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions. GMI Research’s leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

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