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Connected Car Market Share, Historical Growth, Analysis, Opportunities and Forecast To 2032 | Airbiquity Inc., Continental AG, Qualcomm Technologies, Inc., Robert Bosch GmbH
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Connected Car Market Size By Technology (2G/3G, 4G/LTE, and 5G), By Connectivity (Integrated, Embedded, and Tethered), By End-User (Aftermarket and OEM), Regions, Global Industry Analysis, Share, Growth, and Trends. Forecast 2023 to 2032.
Leading companies in the industry include Airbiquity Inc., Continental AG, Qualcomm Technologies, Inc., Robert Bosch GmbH, Sierra Wireless, Tesla, AT&T, Audi AG, Daimler AG, Ford Motor Company, Samsung Electronics, TomTom International, Verizon Communications, Vodafone Group Plc among others, offer more significant opportunities and continuously focus on new product developments and venture capital investments to obtain market share.
The technology segment is divided into 2G/3G, 4G/LTE, and 5G. The 5G segment dominated the market, with a market share of around 40% in 2022. The connected car market is still in charge. Several automakers are transitioning to 5 G-equipped connected car solutions that, depending on the situation, also provide 3G/4G service. The connectivity segment is divided into integrated, embedded, and tethered. The integrated segment dominated the market, with a market share of around 38.0% in 2022. Leading producers of connected car devices are getting accreditation from the organizations that control the automobile industry's safety functions. The end-user segment is divided into aftermarket and OEM. The OEM segment dominated the market, with a share of around 59% in 2022. Because of the rising usage of connected car services, EMs are gaining traction in the linked car market.
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Connected automobiles provide connectivity on wheels by providing comfort, convenience, performance, safety, security, and robust network technology. The driver can converse in real-time by connecting to web networks. The rise in consumer demand for connectivity solutions, the surge in the requirement for constant connectivity, the growing reliance on technology, and the rise in the tech-savvy population are the key drivers of the worldwide connected cars market growth. The machine-to-machine (M2M) communication platform is one of many connectivity technologies automakers and service providers created throughout time. This M2M functionality in a car allows two connected cars to communicate. The car contains numerous sensors and processors that provide the driver with precise, up-to-date information.
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