Press release
Connected Car Market 2024-2032, By Technology (3G, 4G/LTE, 5G)
Connected Car Market
Connected Car Trends:
Connected cars represent vehicles equipped with internet connectivity and advanced communication technologies to ease the exchange of information through numerous communication channels. They offer improved automobile performance, enhanced user convenience, and efficient interaction of the transportation system with its surroundings to stop road accidents and notify regarding parking space availability. Connected cars also provide real-time traffic alerts to the driver and alarm emergency services, which help in enhancing overall traffic and road safety management while ensuring optimal driving comfort. Consequently, they are gaining immense traction across the globe to make vehicle management more efficient.
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Key Players Included in Global Connected Car Market Research Report:
• AT&T Inc
• Audi AG (Volkswagen AG)
• Bayerische Motoren Werke AG
• Continental AG
• Ford Motor Company
• Mercedes-Benz Group AG
• Qualcomm Incorporated
• Robert Bosch GmbH
• Samsung Electronics Co. Ltd
• Sierra Wireless
• Tesla Inc
• TomTom N.V
• Valeo, Verizon Communications Inc
• Vodafone Group Plc
Connected Car Market Demand and Development:
The escalating demand for in-car safety solutions is primarily driving the connected car market. Furthermore, the increasing integration of these vehicles with advanced driver-assistance systems (ADAS) to map road obstacles and anti-lock braking systems (ABS) to allow safe braking is also augmenting the market growth. Apart from this, the introduction of 5G connectivity and the widespread usage of artificial intelligence (AI) and machine-to-machine (M2M) interconnectivity between several cars are positively influencing the global market.
Moreover, continuous developments in the manufacturing of advanced suspension systems are further bolstering the market growth. Besides this, the growing popularity of luxury cars among individuals, on account of inflating disposable income levels of people and the emerging autonomous driving trends, is acting as another significant growth-inducing factor. Additionally, the rising digitization across the automotive sector and extensive research and development (R&D) activities conducted by leading players are expected to drive the connected car market in the coming years.
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Key Market Segmentation:
Breakup by Technology:
• 3G
• 4G/LTE
• 5G
Breakup by Connectivity Solutions:
• Integrated
• Embedded
• Tethered
Breakup by Service:
• Driver Assistance
• Safety
• Entertainment
• Vehicle Management
• Mobility Management
• Others
Breakup by End Market:
• Original Equipment Manufacturer (OEMs)
• Aftermarket
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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