The Future of Mobility, connected car technologies and market opportunities in the United States, Japan, and Germany

The automotive industry is undergoing a transformative shift, with the integration of cutting-edge technologies giving rise to the era of connected cars. Connected cars, also known as smart cars or Internet of Things (IoT) vehicles, are equipped with advanced communication systems that enable them to interact with the external environment, other vehicles, and infrastructure. This convergence of automotive and technology has paved the way for unprecedented advancements, enhancing safety, efficiency, and overall driving experience. According to the research report, "Global Connected Car Market Outlook, 2029" published by Bonafide Research, the market is anticipated to cross USD 190 Billion by 2029, increasing from USD 87.14 Billion in 2023. The market is expected to grow with 14.22% CAGR by 2024-29. Connected cars contribute to improved road safety through features like collision detection, automatic emergency braking, and lane departure warnings. These systems leverage sensors and communication networks to anticipate and prevent potential accidents, reducing the number of road fatalities. Telematics systems in connected cars enable the collection and transmission of real-time data related to vehicle performance, fuel efficiency, and maintenance needs. This data is then utilized for remote diagnostics, predictive maintenance, and efficient fleet management, leading to cost savings for both consumers and businesses. Enhanced infotainment systems with internet connectivity have become a standard feature in many modern vehicles. These systems provide passengers with access to streaming services, navigation apps, and social media platforms, transforming the in-car experience. The integration of edge computing in connected cars will enable faster data processing and decision-making directly within the vehicle. This reduces reliance on cloud-based services and enhances the overall responsiveness of connected car systems. Connected cars will play a crucial role in the evolution of smart cities. Through V2X communication, vehicles can share data with traffic signals, parking infrastructure, and other elements of urban mobility, contributing to more efficient traffic flow and reduced congestion.

Leading producers of technologies for automotive manufacturers are collaborating to produce new vehicle tracking technologies to be used in connected cars. For instance, in November 2018, a top positioning and wireless communication technology producer, u-blox, is collaborating with a technology and product developer for the automotive market, ERM Electronic Systems Ltd., to produce an advanced vehicle tracking device that includes 4G and Wi Fi technologies. The development and production of advanced and fast vehicle tracking technologies using 4G and LTE in connected cars fuel the adoption of 4G/LTE technologies in connected cars. Today's drivers and passengers no longer perceive their vehicles as mere modes of transportation but as extensions of their digital lifestyles. Consequently, there is a growing insistence on a comprehensive and streamlined driving experience that transcends isolated features, encompassing safety, entertainment, navigation, and efficiency in a cohesive manner. Integrated connectivity solutions emerge as a strategic response to this demand, presenting a paradigm where various functionalities are seamlessly intertwined within a unified platform. The surge in the popularity and adoption of driver assistance applications within the connected car market is fundamentally rooted in the pursuit of a safer, more efficient, and enjoyable driving experience. As roadways become increasingly congested and the complexity of urban environments rises, there is a growing realization within the automotive industry and among consumers that advanced technologies can play a crucial role in mitigating risks and improving overall road safety. The robust growth of the OEM end market within the connected car sector is intricately tied to the shifting preferences of today's consumers. Modern car buyers are increasingly seeking vehicles that seamlessly integrate advanced technologies, connectivity, and smart features as integral components of the overall driving experience. Original Equipment Manufacturers (OEMs) play a pivotal role in meeting this demand by offering factory-installed connected car features that are tightly integrated into the vehicle's design and architecture. Unlike aftermarket solutions, OEM-integrated connected car features are designed from the ground up, ensuring optimal performance, reliability, and compatibility with the vehicle's existing systems.

For more insights: https://www.bonafideresearch.com/product/240249681/global-connected-car-market

North America is a leading region in the connected car market, driven by rapid advancements in technology, high consumer demand for innovative automotive features, and robust infrastructure. The United States dominates this market, fueled by the presence of major technology companies and automakers investing heavily in connected car technologies, including autonomous driving, vehicle-to-everything (V2X) communication, and advanced infotainment systems. Canada also plays a significant role, with strong government support for smart transportation initiatives and an increasing focus on enhancing road safety through connected vehicle technologies. Europe is another key player in the connected car market, with countries like Germany, France, the UK, and Italy at the forefront of innovation. The region's strong automotive industry, combined with stringent government regulations aimed at reducing emissions and improving road safety, has accelerated the adoption of connected car technologies. Germany, home to some of the world's leading automakers, is particularly influential, driving advancements in autonomous driving, electric vehicles, and smart transportation systems. The European Union's push towards smart cities and sustainable mobility solutions further supports the growth of the connected car market. The UK and France are also significant contributors, with strong investments in 5G infrastructure and autonomous vehicle testing. The Asia-Pacific region is experiencing rapid growth in the connected car market, driven by the increasing penetration of smartphones, the expansion of 4G and 5G networks, and the rising demand for advanced automotive technologies. China leads the region, both as a major producer and consumer of connected cars, fueled by its massive automotive market, government support for smart transportation, and the push towards electric vehicles. Japan and South Korea are also key players, with strong automotive industries and a focus on integrating cutting-edge technologies like artificial intelligence, IoT, and V2X communication into vehicles. India, while still emerging in this market, shows significant potential due to its growing automotive sector and increasing investments in smart city initiatives.

For more insights on North America: https://www.bonafideresearch.com/product/240249682/north-america-connected-car-market

The connected car market in South America is gradually expanding, with Brazil and Argentina leading the way. In Brazil, the largest automotive market in the region, the adoption of connected car technologies is driven by a growing middle class, increasing demand for in-car connectivity, and government initiatives to improve road safety through advanced vehicle systems. Argentina also shows promise, with rising investments in smart transportation and telematics. However, the market's growth is somewhat hindered by economic instability and infrastructure challenges, which can slow the adoption of advanced technologies. Despite these challenges, the region is witnessing a gradual increase in the integration of features like GPS navigation, in-car entertainment, and emergency call systems, driven by consumer demand and the efforts of global automakers to introduce connected vehicles to the South American market. The connected car market in the Middle East & Africa is emerging, with significant potential for growth in the coming years. The Middle East, particularly countries like the UAE, Saudi Arabia, and Qatar, is rapidly adopting connected car technologies as part of broader smart city initiatives and infrastructure development plans. The UAE, for example, has made substantial investments in 5G networks and autonomous vehicle testing, positioning itself as a regional leader in connected mobility. Saudi Arabia's Vision 2030 plan also emphasizes the development of smart transportation systems, creating opportunities for the connected car market. In Africa, South Africa is the most prominent market, driven by a growing automotive industry and increasing interest in telematics and fleet management solutions. However, the region faces challenges such as limited infrastructure, economic constraints, and regulatory hurdles, which can impede the widespread adoption of connected car technologies. Nevertheless, the long-term outlook remains positive, with ongoing investments in digital infrastructure and the growing interest of global automakers in tapping into these emerging markets.

For more insights on Europe: https://www.bonafideresearch.com/product/240249683/europe-connected-car-market

The future growth of the connected car industry is set to be transformative, driven by a convergence of advanced technologies, evolving consumer demands, and the global push towards smarter, safer, and more sustainable transportation systems. As the automotive industry continues to embrace digitalization, connected cars are expected to become the cornerstone of future mobility, integrating seamlessly with smart city infrastructure and the Internet of Things (IoT). The widespread deployment of 5G networks will be a critical enabler, providing the ultra-low latency and high-speed data transmission necessary for real-time communication between vehicles, infrastructure, and other connected devices. This will accelerate the development and adoption of autonomous driving technologies, vehicle-to-everything (V2X) communication, and advanced driver-assistance systems (ADAS), all of which are key components of the connected car ecosystem. Additionally, consumer preferences are shifting towards enhanced in-car experiences, with increasing demand for personalized services, in-car entertainment, and advanced navigation systems, all of which are driving innovation in the industry. Automakers are investing heavily in software development, cybersecurity, and data analytics to offer more sophisticated and secure connected car services, while also exploring new business models such as subscription-based services and vehicle-as-a-service (VaaS). Furthermore, environmental concerns and regulatory pressures are pushing the industry towards electric and hybrid connected vehicles, which are expected to dominate the market in the coming years. These vehicles will not only reduce emissions but also leverage connectivity to optimize energy efficiency and integrate with renewable energy grids. Globally, governments and regulatory bodies are playing a pivotal role in shaping the future of the connected car industry by setting standards, providing incentives, and investing in smart infrastructure.

For more insights on South Korea: https://www.bonafideresearch.com/product/6402496816/south-korea-connected-cars-market

Considered in this report
• Geography: Global
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

Aspects covered in this report
• Global connected car market with its value and forecast along with its segments
• Region & Country-wise connected car market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Technology
• 4G/LTE
• 3G
• 5G

By Connectivity
• Solutions
• Integrated
• Embedded
• Tethered

By Application
• Driver Assistance
• Safety
• Infotainment
• Telematics
• Fleet Management (Vehicle)
• Mobility Management
• Others

By End Market
• Original Equipment Manufacturer (OEMs)
• Aftermarket

For more insights on Canada: https://www.bonafideresearch.com/product/6402496818/canada-connected-cars-market

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Europe: +44 20 8089 0049
North America: +1 201 793 8545
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This release was published on openPR.