Connected car market size to grow by USD 172,767.39 million from 2022 to 2027: A descriptive analysis of covid analysis, vendor assessment, and market dynamics


New York, January 25, 2023 /PR Newswire/ — Global connected car market size is US$172,767,390,000 From 2022 to 2027. The market growth momentum will accelerate at a CAGR of 27.36% during the forecast period. The global outbreak of COVID-19 has also impacted this sector in 2020. Vehicle production in the first quarter of 2020 decreased by approximately 23.07% compared to the production in the first quarter of 2019. Q2 2019 figures and Q3 2020 production decreased by 22.92% compared to Q3 2019. Therefore, the temporary closure of manufacturing facilities and the continued disruption of global supply chains due to the pandemic are adversely affecting automotive production in all major sectors. regions around the world.Request a sample report

Technavio has released its latest market research report titled Global Connected Car Market 2023-2027.

Global Connected Car Market – Vendor Analysis

Vendor offerings –

  • Airbiquity Co., Ltd. – The company offers connected cars that can receive remote over-the-air (OTA) software updates and transmit diagnostic and operational data from in-vehicle systems and components.

  • Alps Alpine Co., Ltd. – The company offers connected cars, including core device technologies such as the human-machine interface (HMI) and sensors that represent the nervous system of the vehicle.

  • BMW AG- The company offers connected cars that can be linked to other services and devices over networks, along with laptops and mobile phones.

  • BorgWarner Co., Ltd. – The company offers connected cars with built-in Wi-Fi hotspots and powerful in-vehicle antennas that can connect up to seven Wi-Fi enabled devices and stay connected up to 50 feet inside or outside the vehicle. increase.

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Vendor Status –

The global connected car market is fragmented, the presence of several vendors. Prominent vendors offering connected cars in the market include Airbiquity Inc., Alps Alpine Co. Ltd., AT and T Inc., BMW AG, BorgWarner Inc., DXC Technology Co., Ford Motor Co., Intellias group, Mercedes, etc. Benz Group AG, NXP Semiconductors NV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schaeffler AG, Sierra Wireless Inc., Telefonica SA, Tesla Inc., Valeo SA, Volkswagen AG, Zubie Inc., etc.

The market is expected to grow at a rapid pace due to increased competition among automakers. The adoption of connected technology in entry-segment vehicles is forcing luxury car makers to differentiate their products by incorporating advanced connected features into the vehicle. This allows connected technology providers to invest more in developing new connected capabilities. Such efforts by technology providers are expected to intensify competition among automakers.

Global Connected Car Market – Customer Situation

To assist companies in evaluating and developing growth strategies, the report outlines:

Global Connected Car Market – Segmentation Assessment

Segment overview

Technavio has segmented the market based on end users (OEM and aftermarket) and connectivity (embedded solutions, integrated solutions, tethered solutions).

  • of embedded solution The segment will account for a large share of the market growth during the forecast period. Telematics systems employ embedded software and smartphone-based applications that provide entertainment, navigation, external communications, security, and Internet-based services. Smartphone manufacturers are developing applications that provide real-time vehicle battery status. In addition, investment in self-driving cars is increasing. Automotive OEMs are also focused on reducing the cost of embedded infotainment systems that are integrated into vehicles. Such drivers are expected to drive the growth of the segment during the forecast period.

geography overview

Based on geography, the global connected car market is segmented into: North America, Europe,Asia Pacific, South AmericaWhen middle east When AfricaThis report provides actionable insights and estimates the contribution of every region to the growth of the global connected car market.

  • North America It is estimated to account for 35% of the global market growth during the forecast period.United States and Canada It is the leading country in the market in this region. The growth of the regional market is due to factors such as the emergence of he IoT technology in automobiles and increasing adoption of vehicle-to-vehicle (V2V) connectivity. In addition, stringent regulations for improving road safety are driving increased vehicle adoption of connected features such as collision imminent braking, dynamic brake assistance, and automatic pedestrian emergency braking. These factors drive the growth of the regional market during the forecast period.

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Global connected car marketmarket dynamics

Key Drivers – of Government Regulations to Increase Safety in Cars driving the growth of the market. The government is committed to improving safety standards and environmental conditions. The increasing adoption of safety technologies such as advanced driver assistance systems (ADAS) is also contributing to the adoption of connected cars. In addition, reconfigurable automotive instrumentation assists drivers in information processing of in-vehicle systems, contributing to safer driving. These factors will boost the growth of the global market during the forecast period.

Major Trends – Big Data Platforms Provided by Connected Cars It’s an important trend in the market. Automotive OEMs are focused on developing efficient products due to the increased availability of real-time data. The use of big data is expected to further increase due to the increasing adoption of connected cars during the forecast period. Insurance companies can use this data to calculate the optimal premium for each individual customer’s driving behavior. Such factors will support the growth of the market during the forecast period.

Key Challenges – Data Challenges Associated with Connected Cars We are challenging the growth of the market. Connected cars generate enormous amounts of data. The data generated through such cars can influence the growth of the automotive industry and the driving experience. However, vendors face challenges such as determining what data to collect, what it is used for, and whether it needs to be protected. Such challenges are expected to hamper the growth opportunities of the vendors in the market during the forecast period.

Drivers, trends, and challenges influence market dynamics and can impact your business. Find more insights in our sample reports.

What are the key data covered in this Connected Car Market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors driving connected car market growth from 2023 to 2027

  • Accurate estimation of the size of the connected car market and its contribution to the parent market

  • Accurate prediction of upcoming trends and changes in consumer behavior

  • Growing connected car market North America, Europe,Asia Pacific, South AmericaWhen middle east When Africa

  • In-depth analysis of market competitive landscape and vendor details

  • Comprehensive Analysis of Factors Hindering Growth of Connected Car Market Vendors

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Connected car market size

report coverage

detail

page number

171

base year

2022

historical period

2017-2021

Forecast period

2023-2027

Growth Momentum and CAGR

Accelerate at a CAGR of 27.36%

Market growth 2023-2027

US$17,276,739 million

market structure

fragmented

Year-over-year growth rate (%) from 2022 to 2023

24.41

Regional analysis

North America, Europe, APAC, South America, and the Middle East and Africa

Execution of market contribution

North America 35%

major countries

USA, China, Japan, Germany, UK

competitive environment

Key vendors, vendor market positioning, competitive strategies, industry risks

Main company introduction

Airbiquity Inc., Alps Alpine Co. Ltd., AT and T Inc., BMW AG, BorgWarner Inc., DXC Technology Co., Ford Motor Co., Intellias group, Mercedes Benz Group AG, NXP Semiconductors NV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schaeffler AG, Sierra Wireless Inc., Telefonica SA, Tesla Inc., Valeo SA, Volkswagen AG, Zubie Inc.

market dynamics

Parent market analysis, market growth drivers and obstacles, fast and slow growth segment analysis, COVID-19 impact and recovery analysis, future consumer dynamics, and market landscape analysis for the forecast period.

Customization range

If the data you’re looking for isn’t in the report, contact an analyst to customize the segment.

View Technavio’s Consumer Discretionary Market Report

table of contents

1.executive summary

2 Market Outlook

3 Market size

4 Historical market size

5 Five Forces Analysis

6 Market Segmentation by Connectivity

7 Market Segmentation by End User

8 Customer Situation

9 Geographical landscape

10 drivers, challenges and trends

11 Vendor Landscape

12 vendor analysis

13 Appendix

about us
Technavio is the world’s leading technology research and advisory firm. Their research and analysis focuses on emerging market trends, with actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market position. provide. With over 500 expert analysts, Technavio’s report library consists of over 17,000 reports covering 800 technologies across 50 countries. Their customer base consists of companies of all sizes, including over 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify existing and potential market opportunities and compete within changing market scenarios. Evaluate power.

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