Connected Car Devices Market to Surpass $172.37 Billion by 2029 | Key Trends & Insights

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How Will the Connected Car Devices Market Grow by 2025 in Terms of Size and Growth?
The market size for connected car devices has seen a significant expansion lately. The projections indicate its growth from $79.63 billion in 2024 to $93.25 billion in 2025, with a compound annual growth rate (CAGR) of 17.1%. The historical growth in this market is a consequence of advancements in communication technologies, a surge in consumer demand for connectivity, regulatory requirements, the expansion of the IoT ecosystem, and the advent of autonomous vehicles.

What Are the Estimated Growth Rates for the Connected Car Devices Industry Through 2029?
The market for connected car devices is projected to experience substantial expansion in the upcoming years, with an estimated worth of $172.37 billion in 2029. This represents a compound annual growth rate (CAGR) of 16.6%. This predicted growth during the forecast period is due to the rising popularity of electric vehicles (EVs), the advent of edge computing technology, increased cybersecurity provisions, the incorporation of artificial intelligence (AI), and ongoing advances in mobility services. Significant forecast period trends include the integration of 5G capabilities, extension of vehicle-to-everything (V2X) communication, advancements in over-the-air (OTA) updates, the development of customized in-vehicle experiences, and an increased emphasis on cybersecurity.

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What Are the Strategic Drivers Boosting Connected Car Devices Market Performance?
The growth of the connected car devices market is anticipated to be driven by the escalating use of electric vehicles. Electric vehicles (EVs), powered by one or more electric motors fueled by rechargeable batteries or an onboard fuel cell, are increasingly being adopted. Things such as stringent emission regulations, awareness of their eco-friendly nature, and cost-efficiency fuel this trend. Connected car devices help keep track of battery status, vehicle charging, and energy consumption in electric vehicles, provide real-time updates on navigation tailored for EVs, and boost overall efficiency and customer satisfaction. The International Energy Agency, an autonomous intergovernmental organization from France, reported that in 2023, around 18% of all cars sold were electric, a rise from 14% in 2022. This surge in the use of electric vehicles is promoting the expansion of the connected car devices market.

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What Are the Segments in the Connected Car Devices Market?
The connected car devices market covered in this report is segmented -

1) By Communication: Vehicle-To-Vehicle (V2V), Vehicle-To-Infrastructure (V2I), Vehicle-To-Pedestrian(V2P), Other Modes Of Communication
2) By Technology: Driver Assistance Systems, Telematics, Other Technologies
3) By Connectivity: Dedicated Short Range Communication (DSRC), Long Range Or Cellular Network
4) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
5) By End-User: Original Equipment Manufacturer, After market

Subsegments:
1) By Vehicle-To-Vehicle (V2V): Direct Vehicle Communication, Cooperative Adaptive Cruise Control (CACC), Collision Avoidance Systems, Platooning
2) By Vehicle-To-Infrastructure (V2I): Traffic Signal Communication, Roadside Unit Communication (RSU), Smart Traffic Management, Toll Collection Systems, Parking Management
3) By Vehicle-To-Pedestrian (V2P): Pedestrian Safety Alerts, Crosswalk Communication, Pedestrian Detection Systems
4) By Other Modes Of Communication: Vehicle-To-Cloud (V2C), Vehicle-To-Device (V2D), In-Vehicle Communication, Vehicle-To-Grid (V2G)

What Are the Key Adoption Trends in the Connected Car Devices Market?
Leading firms in the connected car devices market are creating integrated systems like the Snapdragon Digital Chassis to establish a competitive advantage. The Snapdragon Digital Chassis combines a range of features including the Snapdragon cockpit platform, Snapdragon car-to-cloud services, and the cellular vehicle-to-everything (C-V2X) to upgrade the onboard car experience. For example, Qualcomm Technologies Inc., an American semiconductor and technology company, introduced the Snapdragon Digital Chassis connected car setup in February 2022. Its goal is to enhance driving enjoyment and connect car services. It features options such as Connectivity-as-a-Service for the Snapdragon Telematics Applications Framework and a Wi-Fi 6E automotive chipset. It also provides a variety of facilities like advanced driver-assistant systems (ADAS), cloud-connected commerce, customized infotainment, and real-time mapping for superior navigation.

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Which Companies Lead the Competitive Landscape of the Connected Car Devices Industry?
Major companies operating in the connected car devices market are Volkswagen AG, Toyota Motor Corporation, General Motors Company, Robert Bosch GmbH, Tesla Inc., Intel Corporation, Panasonic Corporation, Denso Corporation, Nvidia Corporation, Qualcomm Incorporated, Continental AG, Porsche AG, Magna International Inc., Valeo SA, Infineon Technologies AG, Autoliv Inc., Harman International Industries Incorporated, Garmin Ltd., Visteon Corporation, TomTom N.V., Sierra Wireless Inc., Delphi Technologies, Autotalks Ltd.

Where Are the Key Connected Car Devices Market Opportunities by Region?
Asia-Pacific was the largest region in the connected car devices market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the connected car devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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