Connected Car Market - Trends Forecast Till 2028

Connected Car Market by Service ICE & EV (OTA, Navigation, Cybersecurity, Multimedia Streaming, social media, e-Call, Autopilot, Home Integration), Form, Market (OE, Aftermarket), Network, Transponder, Hardware, and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: January, 2022

Base Year Estimate: 2021

Report ID: D-AU-CCM-1088

Format:  

Number of Pages: 389

Domain: Automotive

Connected Car Market – Trends Forecast Till 2028

The Connected Car Market size is projected to reach a CAGR of 19.9% from 2022 to 2028.

Connected car facilitates connectivity on wheels offering comfort, convenience, performance, safety, and security along with powerful network technology. This enables the driver to connect with online platforms, thereby facilitating real-time communication. Rise in consumer demand for connectivity solutions, surge in need for constant connectivity, increase in dependency on technology, and upsurge in tech-savvy population are the key factors that contribute toward the growth of the global connected cars market. Over time, various connectivity solutions have been developed by car manufacturers and service providers, such as the machine-to-machine (M2M) connectivity platform. This M2M feature in a car enables interconnectivity between two connected cars. The car is equipped with numerous sensors and processors, which provide accurate and real-time information to the driver.

The rollout of stringent safety regulations, adoption of high-end and luxury cars, and growing adoption of integrated connectivity are some of the factors that have supported long-term expansion for Connected Car Market.

A decline in production since 2018 and the COVID-19 pandemic have had a severe impact on the entire automotive industry. This has resulted in disruptions in the supply of automotive components due to lockdowns imposed by governments.

Connected Car Market Research Report

The Asia Pacific market is expected to witness the highest CAGR during the forecast period, especially in Japan and China. The growth of the US market is driven primarily by increasing vehicle safety and security norms, demand for vehicle-to-vehicle (V2V) connectivity technology, and the incorporation of IoT in the automotive industry.

Connected Car Market is segmented into service, hardware, form type, end market, transponder, network, electric vehicle type and region.

On the basis of Service

  • Navigation
  • Remote Diagnostics
  • Multimedia Streaming
  • Social Media & Other Apps
  • OTA Updates
  • On-Road Assistance
  • eCall & SOS Assistance
  • Cyber Security
  • Remote Operation
  • Collision Warning
  • Auto Parking/Connected Parking
  • Autopilot
  • Home Integration
  • Vehicle Management
  • Asset Tracking

On the basis of Hardware

  • Head Unit
  • Central Gateway
  • Intelligent Antenna
  • Electronic Control Unit
  • Telematic Control Unit
  • Keyless Entry Systems
  • Sensors

On the basis of Form Type

  • Embedded
  • Tethered
  • Integrated

On the basis of End Market

  • OEM
  • Aftermarket

On the basis of Transponder

  • Onboard unit
  • Roadside unit

On the basis of Vehicle Type  

  • BEV
  • PHEV
  • FCEV

On the basis of Network

  • DSRC
  • Cellular

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Connected Car Market Primary Respondent

 

Key Players

  • Bosch
  • Continental AG
  • Delphi Technologies PLC
  • DENSO Corporation
  • Harman International Industries, Inc.
  • Infineon Technologies AG
  • NXP Semiconductors N.V.
  • Toyota Motor Corporation
  • Valeo
  • ZF Friedrichshafen AG
  • BorgWarner.

Recent Developments

  • In November 2021, Continental developed a technology solution for highly automated driving: an intelligent software that enables complex driving maneuvers autonomously. The Next Generation Driving Planner is an innovative software solution that enables highly automated driving from Level 3. This means that vehicles can master certain driving tasks independently and without driver intervention. The software developed by Continental represents a significant leap forward in driving intelligence.
  • In January 2021, HARMAN announced HARMAN Turbo Connect (TBOT), a new intelligent software agent that anticipates and mitigates vehicle connectivity discrepancies on the road. The newest solution in HARMAN’s telematics portfolio, HARMAN TBOT satisfies the current demand for high-speed connectivity with low latency, especially when used alongside 5G-enabled technologies like HARMAN’s Smart Conformal Antenna and full 5G and 5G-ready Telecommunications Control Units (TCU).

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Connected Car Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 19.9% during the forecasting period, 2022-2028

Historical Data

2019-2020

Forecast Years

2022-2028

Base Year

2021

Units Considered

Revenue in USD billion and CAGR from 2022 to 2028

Report Segmentation

service, hardware, form type, end market, transponder, network, electric vehicle type and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Bosch, Continental AG, Delphi Technologies PLC, DENSO Corporation, Harman International Industries, Inc., Infineon Technologies AG, NXP Semiconductors N.V., Toyota Motor Corporation, Valeo, and ZF Friedrichshafen AG, BorgWarner.

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