Global Connected Cars Market Forecast to 2032
According to the most recent analysis by Emergen Research, the global market for connected cars was valued at USD 28.50 billion in 2022 and is predicted to grow steadily at a rate of 18.4% throughout the projected period. The market revenue growth is primarily being driven by the quick development of sensing technology, increasing demand for fuel-efficient automobiles internationally, and spike in telematics usage.
The authors of the report have provided Connected Car industry projections as well as qualitative and quantitative assessments. Some of the most important components of this report are the SWOT analysis and Porter's Five Forces Analysis, which provide insight into the industry's highly competitive environment. The report provides a detailed analysis of the global Connected Car market, including North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. This report examines other key aspects of regional markets, in addition to revenue growth drivers restraints, production consumption patterns, changing consumer preferences, and stringent regulatory standards.
By giving real-time data on a vehicle's fuel usage and range and by adjusting performance to increase fuel efficiency, connected automobiles can aid in fuel management. In order to help drivers choose where to refuel, connected cars can also provide information on the location of neighbouring gas stations and the cost of fuel. These vehicles can also plan the most effective route using information about traffic and road conditions, which can help to save fuel use. Vehicles can communicate information on traffic congestion, road closures, and other events that could affect fuel use through Vehicle-to-Everything (V2X) communication. Furthermore, systems that are not in use can be turned off and restarted when necessary in connected cars.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Connected Cars market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
HARMAN International, Continental AG, Robert Bosch GmbH, Tesla, Visteon Corporation, AT&T Intellectual Property, Qualcomm Technologies, Inc., Sierra Wireless, Panasonic Holdings Corporation, and TomTom International BV
Research Report on the Connected Cars Market Addresses the Following Key Questions:
- Who are the dominant players of the Connected Cars market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Connected Cars market?
- What are the key growth drivers and restraining factors of the Connected Cars market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Connected Cars market and its key segments?
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Some Key Highlights From the Report
- The 5G segment is expected to register a rapid revenue growth rate over the forecast period. This is due to rapid rollout and adoption of 5G connectivity across various region globally.
- The integrated segment is expected to account for largest revenue share over the forecast period. This can be attributed to increasing popularity of Vehicle-to-Vehicle (V2V) communication and Vehicle-to-Infrastructure (V2I) communication in connected cars.
- The sensors segment is expected to account for largest revenue share over the forecast period. This is due to rapid advancement made in sensing technology, which are used in connected cars to gather data and improve overall driving experience.
- The cellular segment accounted for largest revenue share in 2022. This can be attributed to rising popularity of cellular Vehicle-to-Everything (C-V2X) communication, which is based on 4G and 5G connections and rapid rollout of 5G technology, is further driving revenue growth of the market.
- The North America market is expected to account for largest revenue share over the forecast period. This is due to rising government investments and funding to promote research in connected car technology in this region.
- On 5 January 2022, Visteon launched AllGo App Store, which was created to satisfy rising demand on a global scale for secure and practical methods of accessing app-based content in a smart, connected cockpit. This app store offers versions of the most popular navigation, parking, mobility, and entertainment apps for automobiles.
Market Overview:
The report bifurcates the Connected Cars market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Technology Outlook (Revenue, USD Billion; 2019-2032)
- 3G
- 4G
- 5G
- Connectivity Outlook (Revenue, USD Billion; 2019-2032)
- Embedded
- Integrated
- Tethered
- Hardware Outlook (Revenue, USD Billion; 2019-2032)
- Central Gateway (CGW)
- Head Unit
- Intelligent Antenna
- Electronic Control Unit (ECU)
- Telematic Control Unit (TCU)
- Sensors
- Others
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Regional Landscape section of the Connected Cars report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Connected Cars market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Connected Cars with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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