India Connected Car Market

India Connected Car Market Size (2024 to 2029)

The global India connected car market size is expected to reach USD 20.88 billion in 2024 and reach USD 55.16 billion by 2029, growing at a CAGR of 21.45% from 2024 to 2029.

CURRENT SCENARIO OF THE INDIA CONNECTED CAR MARKET

Offering internet accessibility in cars is imminent as customers 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 to deal with a heap of knowledge to assess risks and advantages for both customers 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 wired connectivity because of the new applications associated with connected cars that specialize in supporting cellular communications and mobile devices.

The key factor driving the expansion of the Indian connected car market is the increase in the number of related features in economy 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 Indian 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 in this nation.

On the other hand, the absence of robust network infrastructure in India poses a challenge to the expansion of the connected car business.

REPORT COVERAGE:

SEGMENTAL ANALYSIS 

India Connected Car Market By Platform

The key factor driving the expansion of the market is the increase in the number of connected features in economy vehicles by OEMs. The rise in the adoption of more convenient features, like navigation, remote diagnostics, and multimedia streaming, promotes the use of various platforms like Android Auto, CarPlay, and MirrorLink, thereby promoting the development of the India-connected car market.

India Connected Car Market By Connectivity Form Factor

The embedded form is predicted to be the most essential and fastest-growing form factor for connected cars in India during the foreseen period. One of the key drivers burgeoning the embedded segment is the surge in demand for infotainment and navigation services in vehicles in India. The Indian government has also started implementing several mandates for connected services.

India Connected Car Market By Hardware

The ECU and sensors are likely to register the highest growth rate and revenue in the local market in the coming years.

REGIONAL ANALYSIS

India's connected vehicle market is predicted to point out a double-digit rate of growth in the foreseen years. Consumers in this nation are increasingly emphasizing in-car technology instead of the worth or engine performance when it involves buying a car, and 40% are willing to vary brands for better connectivity. 

KEY PLAYERS IN THE INDIA CONNECTED CAR MARKET

Honda Motor Company, Toyota Motor Corporation, Hyundai Motors, General Motors (U.S.), Ford Motor Company (U.S.), Audi (Germany), BMW (Germany), Mahindra and Mahindra (India), Tata Motors (India) and Maruti Suzuki India (India) are some of the major key players involved in the India-connected car market.

RECENT HAPPENINGS IN THE INDIA CONNECTED CAR MARKET

• The $20.7 billion Mahindra Group and US car major Ford Motor Company on Wednesday signed two definitive agreements on gearing and connected car solutions to secure their ongoing strategic alliance discussion in India that began in late 2017. 
• Electric vehicles, petrol engines, and connected vehicles are going to be among the key technology focus areas for Mahindra & Mahindra in the wake of adjusting business landscape, the corporation has said. 
• Tata Elxsi, the planning and technology services firm, a Tata group company has introduced a partnership with Tata Motors to build a unified, connected vehicle platform that will power the Nexon EV range of electric cars. 
• Motors and Microsoft India have announced a strategic agreement to redefine connected and personalized driving experiences for Indian consumers. Tata Motors will leverage Microsoft's connected vehicle technologies that compile AI (AI), advanced machine learning, and therefore the Internet of Things (IoT) capabilities on the regional hyper-scale Azure cloud to traverse the digital and physical worlds and make a highly personalized, smart and safer driving experience across the digital life of a vehicle owner. 

DETAILED SEGMENTATION OF THE INDIA CONNECTED MARKET INCLUDED IN THIS REPORT

This research report on the India connected car market has been segmented and sub-segmented based on the application, platform, connectivity form factor, hardware, connectivity technology, and region. 

By Application

• Telematics
• Ridesharing/Hailing
• Others (OTA Updates, Safety & Security, Autonomous Driving)

By Platform

• Android Auto
• Carplay
• Mirrorlink
• Others

By Connectivity Form Factor

• Embedded
• Tethered
• Integrated

By Hardware

• Smart Antenna
• Display
• Electronic Control Unit (ECU)
• Sensors

By Connectivity Technology

• Cellular
• Dedicated Short Range Communication (DSRC)