The connected car market will progress at a mammoth growth rate of over 24%. The growing requirement for an improved driving experience, acceptance of the IoT in the automotive sector, and apprehensions being raised over the safety of the vehicles and security are the key factors responsible for the increasing need for connected cars.

The largest demand was held by the driver assistance service category in the industry in the recent past. This had much to do with the large-scale incorporation of advanced driver assistance system features in vehicles because of the apprehensions of people over the safety of the vehicles and the enactment of advantageous policies and regulations of the government with respect to ADAS, which is increasing the demand for connected cars. In numerous nations, the authorities have made the fitting of ADAS features in all new vehicles compulsory.

5G will have the fastest growth in the years to come. This is because of the increasing necessity for driving-related info in vehicles, because of its ability to decrease the latency time and advance the general driving experience, by offering real-time traffic updates to the driver. Moreover, the increasing demand for improved coverage enhancement around the world is boosting the incorporation of the 5G communication technology in automobiles.

The largest revenue generator in the recent past was the integrated connectivity category in the connected car market. Furthermore, this will demonstrate the highest growth rate in the coming years. This is because of the ballooning necessity for the incorporation of high-resolution HMI in connected cars and the surging need for vehicle management systems and better in-vehicle communication.

The OEM category was the industry dominator in the past. This will also hold a larger share compared to the aftermarket category in the near future. This will be possible because of the higher requirement for these solutions amongst OEMs because of the implementation of strict government regulations with regard to vehicle and passenger safety all over the world. Thus, vehicle manufacturing companies are needed to provide numerous built-in technologies in their automobiles.

The largest share was with navigation in the recent past, and it will grow the fastest in the years to come. The advancement of the category is pushed by the increasing necessity for actual in-vehicle navigation and enhanced optimization with the right route planning features, for a comfortable and hassle-free journey.