[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Connected Car Market Report by Technology (3G, 4G/LTE, 5G), Connectivity Solutions (Integrated, Embedded, Tethered), Service (Driver Assistance, Safety, Entertainment, Vehicle Management, Mobility Management, and Others), End Market (Original Equipment Manufacturer (OEMs), Aftermarket), and Region 2024-2032

July 2024 | 142 pages | ID: CE0D80ABBE45EN
IMARC Group

US$ 3,899.00

E-mail Delivery (PDF), Hard Copy Mail Delivery, CD-ROM Mail Delivery

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
The global connected car market size reached US$ 84.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 267.2 Billion by 2032, exhibiting a growth rate (CAGR) of 13.3% during 2024-2032. Ongoing advancements in connectivity technologies, an emphasis on safety and security, evolving regulatory landscapes, changing consumer preferences towards personalized and convenient driving experiences, and the integration of diverse connectivity solutions and services are some of the key factors bolstering the market growth.

Connected Car Market Analysis:
Market Growth and Size: The global connected car market is experiencing robust growth, driven by an increasing demand for advanced connectivity features in vehicles. The market size is expanding significantly as consumers prioritize safety, entertainment, and convenience services in their vehicles.
Major Market Drivers: Key drivers include technological advancements such as 4G/LTE, 3G, and 5G connectivity, safety regulations, changing consumer preferences, and a focus on driver assistance and vehicle management services. Besides this, the evolving regulatory landscape, particularly in regions like Europe and North America, plays a crucial role in shaping market dynamics.
Technological Advancements: Continuous technological advancements, especially in connectivity technologies like 5G, are propelling the connected car market forward. These advancements facilitate real-time data exchange, over-the-air updates, and the integration of advanced driver assistance systems (ADAS), contributing to a safer and more connected driving experience.
Industry Applications: Connected car technologies find applications in diverse industry segments, including safety services, entertainment, vehicle management, and mobility management. These applications cater to both original equipment manufacturers (OEMs) and the aftermarket, addressing a wide range of consumer needs and preferences.
Key Market Trends: Key trends include the integration of entertainment services, smart mobility solutions, and embedded connectivity solutions in vehicles. Moreover, the market is also witnessing collaboration between traditional automotive manufacturers and technology companies, emphasizing the importance of partnerships in driving innovation.
Geographical Trends: Geographically, North America leads in the adoption of connected cars due to a tech-savvy consumer base and stringent safety regulations. Asia Pacific is rapidly growing, driven by urbanization and increasing disposable income. Europe benefits from supportive regulatory frameworks, while Latin America and the Middle East witness rising demand driven by infrastructure improvements.
Competitive Landscape: The competitive landscape is characterized by intense rivalry among established automotive manufacturers, tech giants, and telecommunications companies. Concurrent with this, startups specializing in specific connected car solutions contribute to innovation, resulting in a convergence of traditional and disruptive players.
Challenges and Opportunities: Challenges include addressing cybersecurity concerns, ensuring regulatory compliance, and meeting diverse consumer demands. Opportunities lie in continued technological innovation, strategic partnerships, and leveraging connectivity to create new and personalized in-car experiences. The market's evolution also presents opportunities for startups and companies focusing on niche solutions.

Connected Car Market Trends:
Significant advancements in connectivity technologies

The continuous evolution of connectivity technologies represents one of the key factors influencing the global connected car market. The shift from traditional standalone vehicles to interconnected smart cars is fueled by the integration of high-speed internet, 4G and 5G networks, and advanced communication protocols. These technologies enable seamless communication between vehicles and the broader transportation ecosystem, facilitating real-time data exchange. Connected cars leverage these advancements to provide a range of features, including real-time traffic updates, remote diagnostics, over-the-air software updates, and enhanced navigation systems. As these technologies mature, the connected car market is poised to expand further, offering a more immersive and safer driving experience.

Rising emphasis on safety and security

Safety and security considerations are key factors strengthening the global connected car market. The integration of ADAS and vehicle-to-everything (V2X) communication plays a pivotal role in enhancing road safety. Connected cars leverage sensors, cameras, and communication modules to collect and transmit data about the vehicle's surroundings, potential hazards, and traffic conditions. This information is not only utilized by the vehicle itself to make informed decisions but is also shared with other connected vehicles and infrastructure, creating a collaborative safety ecosystem. Additionally, connected cars often feature robust cybersecurity measures to protect against potential cyber threats, ensuring the integrity and confidentiality of the data exchanged between vehicles and external systems.

Evolving regulatory landscape

Governments and regulatory bodies worldwide are actively contributing to the growth of the connected car market through the formulation and implementation of supportive policies. In line with this, the introduction of stringent regulations mandating the inclusion of certain safety features and connectivity capabilities in new vehicles, such as the European Union's eCall regulation requiring all new cars to be equipped with an emergency call system, is bolstering the market growth. Such regulations drive the adoption of connected car technologies and create a standardized framework that fosters interoperability and compatibility among different vehicles and infrastructure components, providing an impetus to the market growth.

Changing consumer preferences and expectations

The rising consumer demand for a more connected, personalized, and convenient driving experience is acting as another significant growth-inducing factor. Connected cars cater to these changing preferences by offering features such as in-car infotainment systems, voice-controlled assistants, and integration with smartphones and smart home devices. The ability to remotely control and monitor various aspects of the vehicle, from climate settings to vehicle diagnostics, resonates well with modern consumers seeking enhanced convenience and control, aiding in market expansion. Furthermore, the concept of connected mobility, which includes services like ride-sharing, predictive maintenance, and automated parking, is gaining traction as consumers become more tech-savvy and accustomed to the conveniences offered by connectivity, which is propelling the market forward.

Connected Car Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on technology, connectivity solutions, services, and end market.

Breakup by Technology:

3G
4G/LTE
5G

4G/LTE accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the technology. This includes 3G, 4G/LTE, and 5G. According to the report, 4G/LTE represented the largest segment.

Breakup by Connectivity Solutions:

Integrated
Embedded
Tethered

Integrated holds the largest share in the industry

A detailed breakup and analysis of the market based on the connectivity solution have also been provided in the report. This includes integrated, embedded, and tethered. According to the report, integrated accounted for the largest market share.

Breakup by Service:

Driver Assistance
Safety
Entertainment
Vehicle Management
Mobility Management
Others

Driver assistance represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the service. This includes driver assistance, safety, entertainment, vehicle management, mobility management, and others. According to the report, driver assistance represented the largest segment.

Breakup by End Market:

Original Equipment Manufacturer (OEMs)
Aftermarket

Original equipment manufacturer (OEMs) exhibits a clear dominance in the market

A detailed breakup and analysis of the market based on the end market have also been provided in the report. This includes original equipment manufacturer (OEMs) and aftermarket. According to the report, original equipment manufacturer (OEMs) accounted for the largest market share.

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

North America leads the market, accounting for the largest connected car market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

AT&T Inc.
Audi AG (Volkswagen AG)
Bayerische Motoren Werke AG
Continental AG
Ford Motor Company
Mercedes-Benz Group AG
Qualcomm Incorporated
Robert Bosch GmbH
Samsung Electronics Co. Ltd.
Sierra Wireless
Tesla Inc.
TomTom N.V.
Valeo
Verizon Communications Inc.
Vodafone Group Plc

Key Questions Answered in This Report

1. What was the size of the global connected car market in 2023?
2. What is the expected growth rate of the global connected car market during 2024-2032?
3. What are the key factors driving the global connected car market?
4. What has been the impact of COVID-19 on the global connected car market?
5. What is the breakup of the global connected car market based on the technology?
6. What is the breakup of the global connected car market based on the connectivity solutions?
7. What is the breakup of the global connected car market based on the service?
8. What is the breakup of the global connected car market based on the end market?
9. What are the key regions in the global connected car market?
10. Who are the key players/companies in the global connected car market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL CONNECTED CAR MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY TECHNOLOGY

6.1 3G
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 4G/LTE
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 5G
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY CONNECTIVITY SOLUTIONS

7.1 Integrated
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Embedded
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Tethered
  7.3.1 Market Trends
  7.3.2 Market Forecast

8 MARKET BREAKUP BY SERVICE

8.1 Driver Assistance
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Safety
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Entertainment
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Vehicle Management
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5 Mobility Management
  8.5.1 Market Trends
  8.5.2 Market Forecast
8.6 Others
  8.6.1 Market Trends
  8.6.2 Market Forecast

9 MARKET BREAKUP BY END MARKET

9.1 Original Equipment Manufacturer (OEMs)
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Aftermarket
  9.2.1 Market Trends
  9.2.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia-Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 AT&T Inc.
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
    15.3.1.3 Financials
    15.3.1.4 SWOT Analysis
  15.3.2 Audi AG (Volkswagen AG)
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
    15.3.2.4 SWOT Analysis
  15.3.3 Bayerische Motoren Werke AG
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
    15.3.3.3 Financials
    15.3.3.4 SWOT Analysis
  15.3.4 Continental AG
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
    15.3.4.3 Financials
    15.3.4.4 SWOT Analysis
  15.3.5 Ford Motor Company
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
    15.3.5.3 Financials
    15.3.5.4 SWOT Analysis
  15.3.6 Mercedes-Benz Group AG
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
    15.3.6.3 Financials
    15.3.6.4 SWOT Analysis
  15.3.7 Qualcomm Incorporated
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
    15.3.7.3 Financials
    15.3.7.4 SWOT Analysis
  15.3.8 Robert Bosch GmbH
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
    15.3.8.3 SWOT Analysis
  15.3.9 Samsung Electronics Co. Ltd.
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
    15.3.9.3 Financials
    15.3.9.4 SWOT Analysis
  15.3.10 Sierra Wireless
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio
    15.3.10.3 Financials
    15.3.10.4 SWOT Analysis
  15.3.11 Tesla Inc.
    15.3.11.1 Company Overview
    15.3.11.2 Product Portfolio
    15.3.11.3 Financials
    15.3.11.4 SWOT Analysis
  15.3.12 TomTom N.V.
    15.3.12.1 Company Overview
    15.3.12.2 Product Portfolio
    15.3.12.3 Financials
    15.3.12.4 SWOT Analysis
  15.3.13 Valeo
    15.3.13.1 Company Overview
    15.3.13.2 Product Portfolio
    15.3.13.3 Financials
    15.3.13.4 SWOT Analysis
  15.3.14 Verizon Communications Inc.
    15.3.14.1 Company Overview
    15.3.14.2 Product Portfolio
    15.3.14.3 Financials
    15.3.14.4 SWOT Analysis
  15.3.15 Vodafone Group Plc
    15.3.15.1 Company Overview
    15.3.15.2 Product Portfolio
    15.3.15.3 Financials
    15.3.15.4 SWOT Analysis


More Publications