Connected Car Market Overview:
The global connected car market was estimated to be USD 9.8 billion in 2021 and is projected to succeed in USD 32.5 billion by 2026, at a CAGR of 22.2% during the calculated period.
Directing Internet accessibility in cars is imminent as costumers want an array of real-time services, like on-demand infotainment and traffic navigation alongside safety and security measures. With the advancement in machine-to-machine communication, it's now possible to leverage telematics for dealing a heap of knowledge to assess risk and advantages for both - costumers and OEMs.
The demand for wireless technologies, like Wi-Fi, Bluetooth, LTE, 3G, and HSPA+ is growing within the automotive industry. Wireless connectivity is clearly surpassing the wired connectivity because the new applications associated with connected cars are that specialize in supporting cellular communications and mobile devices.
Recent Developments:
Drivers and Restraints of Connected Car Market:
Drivers:
The key factor driving the expansion of the global connected car market is the surge in a number of connected properties in affordable vehicles by OEMs. Additionally, a rise in vehicle legislation and industry compliances regarding convenience features, like navigation, remote diagnostics, and multimedia streaming through different platforms like Android Auto, CarPlay, and MirrorLink are driving the linked car market. The new safety norms are cheering automakers to equip the vehicles with safety & security connected features, which successively is hiking the demand for connected cars.
Restraints:
The key objective of connected cars is to stay the buyer connected to the surface of the globe. People need endless access to the web even once they are traveling. Consumers expect their cars to perform tasks almost like their computers or smart devices. Interruptions in connectivity may also act as a limitation for the connected car business because it fails to supply a seamless Internet service. This is often mainly thanks to inconsistency within the network offered by service providers, which varies for various regions.
Market Segmentation:
By Application:
By Platform:
All these platforms are estimated to develop at a notable growth rate in the coming years due to the increasing adoption by automobile manufacturers across the globe.
By Connectivity Form Factor:
The embedded form is predicted to be the most important and fastest-growing form factor for connected cars during the foreseen period. One of the major functions for the planted form is that the rise in interest for infotainment and navigation services. The government in different nations has also initiated new mandates for these connected services.
By Hardware:
By Connectivity Technology:
Connected Car Market Region-wise analysis:
Based on the region:
The China connected car market in the Asia Pacific is predicted to point out a double-digit rate of growth. Chinese people are more focusing on in-car technology instead of on the worth or engine performance when it involves buying a car, and 40% are willing to vary brands for better connectivity. The North American connected car market is predicted to witness the foremost rapid climb during the forecast period, especially within the US. The expansion of the US market is driven primarily by increasing vehicle safety and security norms, interest for vehicle-to-vehicle (V2V) connectivity technology, and incorporation of IoT within the automotive industry. The emergence of autonomous vehicle technology within the US connected car market is one of the key trends that are growing the demand for advanced connected car features. The market has projected high growth of ADAS solutions which made the connected car penetration above 80% in 2018. The rise in interest for aftermarket services through the renewal of connected car service subscriptions will drive the US market in the future.
Key Players of Market:
Major key players in the connected car market in include General Motors (U.S.), Ford Motor Company (U.S.), Audi (Germany), BMW (Germany), Mahindra and Mahindra (India), Tata Motors (India), and Maruti Suzuki (India)
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Connected Car Market, By Platform
6.1.1 Android Auto
6.1.2 Carplay
6.1.3 Mirrorlink
6.1.4 Market Size Estimations & Forecasts (2021-2026)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Connected Car Market, By Connectivity Form Factor
6.2.1 Embedded
6.2.2 Tethered
6.2.3 Integrated
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Connected Car Market, By Application
6.3.1 Telematics
6.3.2 Ride Sharing/Hailing
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Connected Car Market, By Hardware
6.4.1 Smart Antenna
6.4.2 Display
6.4.3 Electronic Control Unit
6.4.4 Sensors
6.4.5 Market Size Estimations & Forecasts (2021-2026)
6.4.6 Y-o-Y Growth Rate Analysis
6.4.7 Market Attractiveness Index
6.5 Connected Car Market, By Connectivity Technology
6.5.1 Cellular
6.5.2 Dedicated Short Range Communication
6.5.3 Market Size Estimations & Forecasts (2021-2026)
6.5.4 Y-o-Y Growth Rate Analysis
6.5.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021-2026)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Platform
7.2.3 By Connectivity Form Factor
7.2.4 By Application
7.2.5 By Hardware
7.2.6 By Connectivity Technology
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Platform
7.3.3 By Connectivity Form Factor
7.3.4 By Application
7.3.5 By Hardware
7.3.6 By Connectivity Technology
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Platform
7.4.3 By Connectivity Form Factor
7.4.4 By Application
7.4.5 By Hardware
7.4.6 By Connectivity Technology
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Platform
7.5.3 By Connectivity Form Factor
7.5.4 By Application
7.5.5 By Hardware
7.5.6 By Connectivity Technology
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Platform
7.6.3 By Connectivity Form Factor
7.6.4 By Application
7.6.5 By Hardware
7.6.6 By Connectivity Technology
8. Key Player Analysis
8.1 General Motors
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Ford Motor Company
8.3 Audi
8.4 BMW
8.5 Mahindra and Mahindra
8.6 Tata Motors
8.7 Maruti Suzuki
8.8 Tesla
8.9 Diamler AG
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
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