The global connected car market is expected to grow at a significant CAGR during the forecast period. The market is largely supported by key drivers such as OEMs' growing attention on the development of autonomous and connected vehicles. Design complexity and technology hurdles associated with connected automobile technologies, on the other side, have been cited as market obstacles. During the forecast period, Asia-Pacific is expected to offer many chances for providers of smart technologies used in connected cars owing to the increased focus on connected cars in this region. The improved smartphone ecosystem is one of the primary elements driving growth in APAC.
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Automated linked car devices are in high demand as they assist in the monitoring of vehicles and drivers by transferring important information between surrounding infrastructure and automobiles. Many of the world's largest automotive technology companies are based in Europe. IoT and telematics have improved connectivity, communications, and answers to provide infotainment, safety, security, and increased vehicle management to drivers, passengers, and commuters through smart platforms. The growing trend towards autonomous vehicles is considered a boon to the connected vehicle business. With self-driving cars predicted to be the automotive industry's future, the connected cars market is poised for significant growth in the forecast period. Various actions performed by public entities and governments in European countries have played a significant role in propelling the market. For instance, the European Union implemented the eCall mandate in 2020, requiring that specified levels of driver assistance technologies be fitted on all new automobiles sold in the region by 2022. Using data from multiple connected car technologies, this decision aims to attain partial autonomy.
The European Transport Safety Council (ETSC) has advocated for a variety of connected and autonomous driving aids, such as 5G network-linked automobiles, driverless vehicles, and ride-hailing services, all of which may be accomplished with connected cars. The increasing use of in-car infotainment systems for various purposes, such as navigation, entertainment, safety, vehicle management, and other onboard systems has been leading to the increasing connectivity of vehicles to exchange information with world-leading manufacturers, such as Volkswagen Group (Porsche, Mercedes Benz, Audi, Lamborghini, and others), and BMW, both of which are based in Europe. This, in turn, will drive the market growth in Europe.
Global Automotive Connected Car Market Report Segmentation
By Service
• Infotainment Services
• Telematics Services
• Mobility Management
• Others
By Communication Type
• Vehicle to Vehicle
• Vehicle to Infrastructure
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Connected Car Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Continental AG
· Robert Bosch GmbH
· Airbiquity Inc.
· Visteon Corp.
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