Connected Car Market Research Report by Manufacturers, Region, Type and Application, Forecast to 2026

Connected Car Market Snapshot:

The globally connected car market was valued at USD 72.8 billion in 2017 and is expected to grow at a CAGR of 12.9% during the forecast period, 2019–2026.

A connected car consists of devices that communicate with other devices within and outside the car. It allows the driver to keep the car connected with the online platform, thereby promoting real-time communication with the outside world. Increasing technological advancements in connected devices are pervasive across numerous industries with the evolution of Internet of Things, artificial intelligence, machine learning, data analytics, and communication technology. Rise in the demand for connectivity solutions, awareness, and adaptability of embedded solutions for a safer, comfortable, and convenient lifestyle drives the connected car market.
As per IoT Analytics, a market insight provider for IoT, the number of connected devices worldwide was about 17 billion in 2018, and it is estimated to reach 34 billion by 2025. The automobile segment with connected devices comprises around 10% of the market, which will subsequently foster the growth of connected cars in the near future. However, the high cost of hardware for connected cars limits market growth to an extent. Nevertheless, the growing demand for services and products that enrich driving experience and strengthen security is creating potential opportunities for market growth.

The global connected car market is segmented by service, technology, and connectivity solution. Based on service, the connected car market is segmented into navigation, telematics, infotainment, and others. Telematics technology holds the largest share of the global connected car market. Telematics combines telecommunication and vehicle informatics, allowing the vehicle to share data with the outside world.

4G technology allows the driver to connect and share critical information as well as update the emergency service provider faster as compared to the other commercial technologies in the market. Therefore, the demand for 4G technology is increasing in the connected cars market. The embedded connectivity solution segment is experiencing positive market growth. European and North American luxury brands are opting for embedded SIM cards, which are embedded along with the cars’ communication module. Embedded technology provides OEMs the flexibility to differentiate from their competitors, thereby boosting the market growth.

North America is in the initial phase, with connected and autonomous vehicles gradually gaining popularity to overcome the problems of increasing pollution, depletion of natural oil and fossil fuel reserves, and rising crude oil prices.  Being an early adopter of systems with huge technological investments, North America has achieved its early prominence in vehicle automation and internet of things market. Smartphone penetration in the region is above 90%. Additionally, many automotive manufacturers are increasing convenience to make the driving experience safer, secure, and more comfortable. For instance, connected cars were deliberately included in Cisco’s well-known “50 billion by 2020” prediction, which means that 50 billion devices will be connected to the internet by the year 2020. Additionally, various government organizations have already started collaborating with connected car manufacturers for replacing conventional transport vehicles with electric transport vehicles in the future to reduce the emission of greenhouse gases and overcome the dependency on traditional fuels.

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The Major Prominent Players Covered in this Report:
Alpine Electronics (Japan), Bosch (Germany), BMW (Germany), Continental (Germany), Delphi Automotive (Japan), Ford Motor (U.S.), NXP Semiconductors (Netherlands), Audi (Germany), Google (U.S.), and Mercedes-Benz (Germany). & More.

By Service
Navigation
Telematics
Infotainment
Other

By Technology
2G
3G
4G
Other

By Connectivity Solution
Integrated
Embedded
Tethered

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Connected Car in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Connected Car market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Connected Car and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Connected Car. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Key Questions Answered in The Report:
What will the Connected Car market growth rate?
What are the key factors driving the global Connected Car market?
Who are the key manufacturers in the Connected Car market space?
What are the market opportunities, market risk, and market overview of the Connected Car market?
What are sales, revenue, and price analysis of top manufacturers of the Connected Car market?
Who are the distributors, traders, and dealers of the Connected Car market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Connected Car Industry?
What are sales, revenue, and price analysis by regions of Connected Car industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Connected Car Market Trends:
- The report identifies, determines, and forecasts the Global Connected Car Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Connected Car Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Connected Car Market.

Why Buy This Report?
Our report covers insights on the connected car market, focusing on recent developments in the market across different regions and development strategies of companies. Moreover, the following sections are specifically covered in the report.

Definitive Market Data
Connected Car Market Analysis
Technological Insight
Competitor Analysis
Recent Opportunities in the Market
Pipeline Analysis
Patent Analysis

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