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Connected Vehicle Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Technology (5G, 4G/LTE, 3G & 2G), Connectivity (Integrated, Tethered, Embedded), Application (Telematics, Infotainment, Driving assistance, Others) and Geography

November 2023 | 175 pages | ID: CEB26BC997C6EN
The Insight Partners

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The connected vehicle market accounted for US$ 52,649.57 million in the year 2022 and is expected to grow at a CAGR of 19.0 % during the period 2022 - 2030, to account for US$ 2,12,012.9 million in the year 2030.

Increasing smart city initiatives

The impact of smart cities and infrastructure development on the demand for the connected vehicle market in the coming years is expected to be significant. As cities across the globe continue to evolve into intelligent, tech-driven urban centers, the synergy between these developments and the connected vehicle market is set to shape the future of urban mobility. The growing emphasis on innovative city initiatives drives investments in infrastructure supporting connected vehicles. These investments encompass the deployment of sensors, data networks, and real-time traffic management systems that create a rich ecosystem of data that is favorable for the connected vehicles industry. As per the SmartAmerica Challenge, a White House Presidential Innovation Fellow project, over the next 20 years, city governments will spend ~US$ 41 trillion for upgrading their infrastructure. Moreover, in 2023, French investment group Eurazeo closed its second smart city fund at US$ 449.1 million. Such initiatives are positively impacting the overall development and adoption of smart cities.

As smart cities increasingly prioritize environmental sustainability, the demand for connected vehicles, particularly electric and hybrid models, is expected to surge. These cities actively promote eco-friendly transportation options to reduce emissions and combat pollution. Connected vehicles play a pivotal role in this endeavor by offering features such as energy management, remote diagnostics, and optimized charging, all of which contribute to a greener, more sustainable urban transportation ecosystem. As cities continue to incentivize and invest in green mobility solutions, the market demand for connected vehicles with environmentally friendly features is set to grow substantially.

Europe's automotive industry has long been a cornerstone of the global automotive landscape, known for its tradition of engineering excellence, innovation, and quality. The industry is accounting for ~20% of global production. The adoption of connected vehicles is gaining momentum across the continent. The adoption is not only driven by consumer preferences but also by regulatory measures and safety standards that encourage the implementation of advanced driver assistance systems (ADAS) and developments in vehicle-to-everything (V2X) communication technology. European governments are actively supporting the deployment of connected vehicles to enhance road safety and reduce emissions. Cooperative Intelligent Transport Systems (C-ITS) is one of the EU's connected vehicle projects. Successful implementation of this system will enable information exchange between vehicles and the road infrastructure. The C-ROADS Platform, which enables the uniform deployment of C-ITS operations throughout Europe, is being developed in close collaboration with road authorities and operators. Many notable European countries, such as Germany, Spain, France, and the UK, are investing heavily to develop suitable infrastructure for connected mobility. For instance, Spain is building its first intelligent highways. In this project, Kapsch TrafficCom's technology and software will enable the digitalization of a 60-kilometer section of the A8 motorway near Bilbao by 2024.

Germany's automotive industry is renowned worldwide for its engineering prowess, precision manufacturing, and commitment to innovation. Within this industry, the connected vehicle sector has emerged as a vital component, signifying the convergence of traditional automotive excellence with cutting-edge technology. The connected vehicle industry in Germany is experiencing significant growth and influence. German automakers, including giants such as Volkswagen, BMW, and Mercedes-Benz, have been at the forefront of incorporating advanced connectivity features into their vehicles. These features range from intuitive infotainment systems and real-time traffic updates to sophisticated driver assistance technologies. The German automotive sector's commitment to quality and innovation is reflected in the seamless integration of these technologies, offering consumers a superior driving experience.

Connected Vehicle Market: Competitive Landscape and Key Developments

Harman International, Visteon Corporation, Vodafone Group, Audi AG, Robert Bosch, General Motors, Continental AG, AT&T, Denso Corporation, and BMW Group are among the key connected vehicle market players profiled during this study. In addition, several other important connected vehicle market players have been studied and analyzed during the study to get a holistic view of the connected vehicle market and its ecosystem.
1. INTRODUCTION

1.1 Market Segmentation

2. EXECUTIVE SUMMARY

2.1 Key Insights
2.2 Market Attractiveness

3. RESEARCH METHODOLOGY

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. CONNECTED VEHICLE MARKET LANDSCAPE

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
  4.3.1 Automakers and OEMs
  4.3.2 Tier 1 Suppliers
  4.3.3 Tier 2 and Tier 3 Suppliers
  4.3.4 Telecommunications Providers
  4.3.5 Technology Providers
  4.3.6 Government Regulations and Standards Bodies
  4.3.7 Data Providers
  4.3.8 Logistics and Distribution
  4.3.9 Service and Maintenance Providers
  4.3.10 End Users
  4.3.11 Aftermarket Providers

5. CONNECTED VEHICLE MARKET - KEY INDUSTRY DYNAMICS

5.1 Connected Vehicle Market - Key Industry Dynamics
5.2 Market Drivers
  5.2.1 Growing demand for driving assistance system
  5.2.2 Advancements in Connectivity Technology
5.3 Market Restraints
  5.3.1 Data Privacy and Security Concerns
  5.3.2 High Initial Costs and Affordability Concerns
5.4 Market Opportunities
  5.4.1 Increasing smart city initiatives
  5.4.2 Adoption of Autonomous vehicles
5.5 Future Trends
  5.5.1 Connected Car Data Monetization
5.6 Impact of Drivers and Restraints:

6. CONNECTED VEHICLE MARKET - GLOBAL MARKET ANALYSIS

6.1 Connected Vehicle Market Revenue (US$ Million), 2022 – 2030
6.2 Connected Vehicle Market Forecast and Analysis

7. CONNECTED VEHICLE MARKET ANALYSIS – TECHNOLOGY

  7.1.1 Connected Vehicle Market, By Technology (2022 and 2030)
7.2 5G
  7.2.1 Overview
  7.2.2 5G Market, Revenue and Forecast to 2030 (US$ Million)
7.3 4G
  7.3.1 Overview
  7.3.2 4G Market, Revenue and Forecast to 2030 (US$ Million)
7.4 3G & 2G
  7.4.1 Overview
  7.4.2 3G & 2G Market, Revenue and Forecast to 2030 (US$ Million)

8. CONNECTED VEHICLE MARKET ANALYSIS – CONNECTIVITY

  8.1.1 Connected Vehicle Market, By Connectivity (2022 and 2030)
8.2 Integrated
  8.2.1 Overview
  8.2.2 Integrated Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Tethered
  8.3.1 Overview
  8.3.2 Tethered Market, Revenue and Forecast to 2030 (US$ Million)
8.4 Embedded
  8.4.1 Overview
  8.4.2 Embedded Market, Revenue and Forecast to 2030 (US$ Million)

9. CONNECTED VEHICLE MARKET ANALYSIS – APPLICATION

  9.1.1 Connected Vehicle Market, By Application (2022 and 2030)
9.2 Telematics
  9.2.1 Overview
  9.2.2 Telematics Market, Revenue and Forecast to 2030 (US$ Million)
9.3 Infotainment
  9.3.1 Overview
  9.3.2 Infotainment Market, Revenue and Forecast to 2030 (US$ Million)
9.4 Driving assistance
  9.4.1 Overview
  9.4.2 Driving assistance Market, Revenue and Forecast to 2030 (US$ Million)
9.5 Others
  9.5.1 Overview
  9.5.2 Others Market, Revenue and Forecast to 2030 (US$ Million)

10. CONNECTED VEHICLE MARKET - GEOGRAPHICAL ANALYSIS

10.1 Overview
10.2 North America
  10.2.1 Overview
  10.2.2 North America Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
  10.2.3 North America Connected Vehicle Market Breakdown by Technology
  10.2.4 North America: Connected Vehicle Market, by Connectivity
  10.2.5 North America: Connected Vehicle Market, by Application
  10.2.6 North America Connected Vehicle Market Revenue and Forecasts and Analysis - By Country
    10.2.6.1 US Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.2.6.1.1 United States Connected Vehicle Market Breakdown by Technology
      10.2.6.1.2 United States Connected Vehicle Market Breakdown by Connectivity
      10.2.6.1.3 United States Connected Vehicle Market Breakdown by Application
    10.2.6.2 Canada Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.2.6.2.1 Canada Connected Vehicle Market Breakdown by Technology
      10.2.6.2.2 Canada Connected Vehicle Market Breakdown by Connectivity
      10.2.6.2.3 Canada Connected Vehicle Market Breakdown by Application
    10.2.6.3 Mexico Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.2.6.3.1 Mexico Connected Vehicle Market Breakdown by Technology
      10.2.6.3.2 Mexico Connected Vehicle Market Breakdown by Connectivity
      10.2.6.3.3 Mexico Connected Vehicle Market Breakdown by Application
10.3 Europe
  10.3.1 Overview
  10.3.2 Europe Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
  10.3.3 Europe Connected Vehicle Market Breakdown by Technology
  10.3.4 Europe: Connected Vehicle Market, by Connectivity
  10.3.5 Europe: Connected Vehicle Market, by Application
  10.3.6 Europe Connected Vehicle Market Revenue and Forecasts and Analysis - By Country
    10.3.6.1 Germany Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.3.6.1.1 Germany Connected Vehicle Market Breakdown by Technology
      10.3.6.1.2 Germany Connected Vehicle Market Breakdown by Connectivity
      10.3.6.1.3 Germany Connected Vehicle Market Breakdown by Application
    10.3.6.2 France Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.3.6.2.1 France Connected Vehicle Market Breakdown by Technology
      10.3.6.2.2 France Connected Vehicle Market Breakdown by Connectivity
      10.3.6.2.3 France Connected Vehicle Market Breakdown by Application
    10.3.6.3 Italy Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.3.6.3.1 Italy Connected Vehicle Market Breakdown by Technology
      10.3.6.3.2 Italy Connected Vehicle Market Breakdown by Connectivity
      10.3.6.3.3 Italy Connected Vehicle Market Breakdown by Application
    10.3.6.4 UK Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.3.6.4.1 UK Connected Vehicle Market Breakdown by Technology
      10.3.6.4.2 UK Connected Vehicle Market Breakdown by Connectivity
      10.3.6.4.3 UK Connected Vehicle Market Breakdown by Application
    10.3.6.5 Rest of Europe Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.3.6.5.1 Rest of Europe Connected Vehicle Market Breakdown by Technology
      10.3.6.5.2 Rest of Europe Connected Vehicle Market Breakdown by Connectivity
      10.3.6.5.3 Rest of Europe Connected Vehicle Market Breakdown by Application
10.4 Asia Pacific
  10.4.1 Overview
  10.4.2 Asia Pacific Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
  10.4.3 Asia Pacific Connected Vehicle Market Breakdown by Technology
  10.4.4 Asia Pacific: Connected Vehicle Market, by Connectivity
  10.4.5 Asia Pacific: Connected Vehicle Market, by Application
  10.4.6 Asia Pacific Connected Vehicle Market Revenue and Forecasts and Analysis - By Country
    10.4.6.1 Australia Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.4.6.1.1 Australia Connected Vehicle Market Breakdown by Technology
      10.4.6.1.2 Australia Connected Vehicle Market Breakdown by Connectivity
      10.4.6.1.3 Australia Connected Vehicle Market Breakdown by Application
    10.4.6.2 China Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.4.6.2.1 China Connected Vehicle Market Breakdown by Technology
      10.4.6.2.2 China Connected Vehicle Market Breakdown by Connectivity
      10.4.6.2.3 China Connected Vehicle Market Breakdown by Application
    10.4.6.3 India Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.4.6.3.1 India Connected Vehicle Market Breakdown by Technology
      10.4.6.3.2 India Connected Vehicle Market Breakdown by Connectivity
      10.4.6.3.3 India Connected Vehicle Market Breakdown by Application
    10.4.6.4 Japan Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.4.6.4.1 Japan Connected Vehicle Market Breakdown by Technology
      10.4.6.4.2 Japan Connected Vehicle Market Breakdown by Connectivity
      10.4.6.4.3 Japan Connected Vehicle Market Breakdown by Application
    10.4.6.5 South Korea Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.4.6.5.1 South Korea Connected Vehicle Market Breakdown by Technology
      10.4.6.5.2 South Korea Connected Vehicle Market Breakdown by Connectivity
      10.4.6.5.3 South Korea Connected Vehicle Market Breakdown by Application
    10.4.6.6 Rest of Asia Pacific Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.4.6.6.1 Rest of Asia Pacific Connected Vehicle Market Breakdown by Technology
      10.4.6.6.2 Rest of Asia Pacific Connected Vehicle Market Breakdown by Connectivity
      10.4.6.6.3 Rest of Asia Pacific Connected Vehicle Market Breakdown by Application
10.5 Middle East & Africa
  10.5.1 Overview
  10.5.2 Middle East & Africa Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
  10.5.3 Middle East & Africa Connected Vehicle Market Breakdown by Technology
  10.5.4 Middle East & Africa: Connected Vehicle Market, by Connectivity
  10.5.5 Middle East & Africa: Connected Vehicle Market, by Application
  10.5.6 Middle East & Africa Connected Vehicle Market Revenue and Forecasts and Analysis - By Country
    10.5.6.1 South Africa Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.5.6.1.1 South Africa Connected Vehicle Market Breakdown by Technology
      10.5.6.1.2 South Africa Connected Vehicle Market Breakdown by Connectivity
      10.5.6.1.3 South Africa Connected Vehicle Market Breakdown by Application
    10.5.6.2 Saudi Arabia Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.5.6.2.1 Saudi Arabia Connected Vehicle Market Breakdown by Technology
      10.5.6.2.2 Saudi Arabia Connected Vehicle Market Breakdown by Connectivity
      10.5.6.2.3 Saudi Arabia Connected Vehicle Market Breakdown by Application
    10.5.6.3 UAE Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.5.6.3.1 UAE Connected Vehicle Market Breakdown by Technology
      10.5.6.3.2 UAE Connected Vehicle Market Breakdown by Connectivity
      10.5.6.3.3 UAE Connected Vehicle Market Breakdown by Application
    10.5.6.4 Rest of Middle East & Africa Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.5.6.4.1 Rest of Middle East & Africa Connected Vehicle Market Breakdown by Technology
      10.5.6.4.2 Rest of Middle East & Africa Connected Vehicle Market Breakdown by Connectivity
      10.5.6.4.3 Rest of Middle East & Africa Connected Vehicle Market Breakdown by Application
10.6 South America
  10.6.1 Overview
  10.6.2 South America Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
  10.6.3 South America Connected Vehicle Market Breakdown by Technology
  10.6.4 South America: Connected Vehicle Market, by Connectivity
  10.6.5 South America: Connected Vehicle Market, by Application
  10.6.6 South America Connected Vehicle Market Revenue and Forecasts and Analysis - By Country
    10.6.6.1 Brazil Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.6.6.1.1 Brazil Connected Vehicle Market Breakdown by Technology
      10.6.6.1.2 Brazil Connected Vehicle Market Breakdown by Connectivity
      10.6.6.1.3 Brazil Connected Vehicle Market Breakdown by Application
    10.6.6.2 Argentina Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.6.6.2.1 Argentina Connected Vehicle Market Breakdown by Technology
      10.6.6.2.2 Argentina Connected Vehicle Market Breakdown by Connectivity
      10.6.6.2.3 Argentina Connected Vehicle Market Breakdown by Application
    10.6.6.3 Rest of South America Connected Vehicle Market Revenue and Forecasts To 2030 (US$ Mn)
      10.6.6.3.1 Rest of South America Connected Vehicle Market Breakdown by Technology
      10.6.6.3.2 Rest of South America Connected Vehicle Market Breakdown by Connectivity
      10.6.6.3.3 Rest of South America Connected Vehicle Market Breakdown by Application

11. CONNECTED VEHICLE MARKET – IMPACT OF COVID-19 PANDEMIC

11.1 Pre & Post Covid-19 Impact

12. COMPETITIVE LANDSCAPE

12.1 Company Positioning & Concentration

13. INDUSTRY LANDSCAPE

13.1 Overview
13.2 Market Initiative
13.3 New Product Development
13.4 Merger and Acquisition

14. COMPANY PROFILES

14.1 Harman International Industries Inc
  14.1.1 Key Facts
  14.1.2 Business Description
  14.1.3 Products and Services
  14.1.4 Financial Overview
  14.1.5 SWOT Analysis
  14.1.6 Key Developments
14.2 Robert Bosch GmbH
  14.2.1 Key Facts
  14.2.2 Business Description
  14.2.3 Products and Services
  14.2.4 Financial Overview
  14.2.5 SWOT Analysis
  14.2.6 Key Developments
14.3 AT&T Inc
  14.3.1 Key Facts
  14.3.2 Business Description
  14.3.3 Products and Services
  14.3.4 Financial Overview
  14.3.5 SWOT Analysis
  14.3.6 Key Developments
14.4 Denso Corp
  14.4.1 Key Facts
  14.4.2 Business Description
  14.4.3 Products and Services
  14.4.4 Financial Overview
  14.4.5 SWOT Analysis
  14.4.6 Key Developments
14.5 Visteon Corp
  14.5.1 Key Facts
  14.5.2 Business Description
  14.5.3 Products and Services
  14.5.4 Financial Overview
  14.5.5 SWOT Analysis
  14.5.6 Key Developments
14.6 Continental AG
  14.6.1 Key Facts
  14.6.2 Business Description
  14.6.3 Products and Services
  14.6.4 Financial Overview
  14.6.5 SWOT Analysis
  14.6.6 Key Developments
14.7 Audi AG
  14.7.1 Key Facts
  14.7.2 Business Description
  14.7.3 Products and Services
  14.7.4 Financial Overview
  14.7.5 SWOT Analysis
  14.7.6 Key Developments
14.8 General Motors Co
  14.8.1 Key Facts
  14.8.2 Business Description
  14.8.3 Products and Services
  14.8.4 Financial Overview
  14.8.5 SWOT Analysis
  14.8.6 Key Developments
14.9 Bayerische Motoren Werke AG
  14.9.1 Key Facts
  14.9.2 Business Description
  14.9.3 Products and Services
  14.9.4 Financial Overview
  14.9.5 SWOT Analysis
  14.9.6 Key Developments
14.10 Vodafone Group Plc
  14.10.1 Key Facts
  14.10.2 Business Description
  14.10.3 Products and Services
  14.10.4 Financial Overview
  14.10.5 Key Developments

15. APPENDIX

15.1 About The Insight Partners


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