Connected car market is estimated to witness a strong CAGR of 25.6% during forecast period, reaching a value of USD 266 billion by 2027, due to the growing demand for in-car safety solutions.

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Key Drivers

The major factors contributing towards the growth of the Global Connected Car market includes the increasing demand for enhanced user comfort and the rising trend of in-vehicle connectivity solution among the target consumers. The consumers are now willing to stay connected with the outer world even while travelling. The in-vehicle connectivity solution helps the user to sync their smartphones with the vehicle’s connectivity system and allows the user to make/receive phone calls, thereby attracting a large number of consumers towards the adoption of connected cars over the coming years. Various multinational giants are largely focusing on the development of advanced connecting systems which works similar to smartphones and tablets of the end-user, will drive the demand for the Global Connected Car market. Factors including ongoing technological innovation, growing production of vehicles, and demand for luxury & comfort in vehicles are expected to supplement the growth of the market. Moreover, the emergence of 5G connectivity and the growing deployment of artificial intelligence (AI) and machine-to-machine (M2M) interconnectivity between various cars are impacting the market growth. Along with this, the ongoing development in the production of advanced suspension systems, growing popularity of luxury cars, accelerating disposable income levels and the emergence of autonomous driving trends are further projected to boost the market growth.

In addition to this, the incorporation of advance diagnostic system in the connected car will significantly fuel the growth of the market. The diagnostic system will keep a track of the vehicle’s smoke emission, fuel consumption, thereby monitoring the overall health of the engine. Further, growing demand for online entertainment services and the advent of new games will offer enormous opportunities for the market. The Government’s initiative to increase safety measures has boosted the growth of Global Connected Car Market, the United States administration along with some Governments in Europe has made Anti-lock Braking System (ABS) mandatory in every new vehicle.

The increasing government initiatives towards development in intelligent transportation system in order to improve the driver’s and passenger’s safety, will further complement the growing demand of the market. On the other hand, the breaking risk of the in-vehicle connectivity system will hamper the growth of the Global Connected Car market during the forecast period. Moreover, the upgradation in the global standards for vehicles and high maintenance cost of advanced suspension systems are anticipated to hamper the connected car market growth.

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Service Segment Analysis

Based on Service, autopilot segment is anticipated to lead the market during the forecast period owing to the significant shift in the demand of the consumer towards a safer and convenient car across the globe and the continuous product development by multinational automotive giants. For instance, Tesla Model S is specifically designed to auto guide on highways, changes lanes and adjust the speed according to the changing traffic conditions. Moreover, the emerging economies such as China, Japan and South Korea will introduce the autopilot technology in 2022, thereby surging the demand of the Global Connected Car market over the coming years.

Form Segment Analysis

Based on Form, Embedded form of connectivity is expected to grow at a higher CAGR during the forecast period due to the growing demand of cloud-based services and the easy availability of cost-effective service plans. The embedded connectivity solution in the car allows eCall and remote diagnostics, thereby positively influencing the growth of the market. In addition to this, the government of various nations is implementations regulations in order to mandate the embedded form of connectivity. For instance, Brazil and Russia’s government will start mandating the fitment of embedded telematics.

End Market Segment Analysis

Based on End Market, Aftermarket segment is expected to grow at a higher CAGR during the forecast period due to the growing demand for aftermarket telematics services among the consumers across the globe. The aftermarket not only allows the consumers to customize their vehicles as per their choice but also helps them to add new technologies to the older cars that never offered it. All these remarkable properties will attract large number of customers who are looking to customize their vehicles as per their priority list.

Hardware Segment Analysis

Based on Hardware, Telematic Control Unit (TCU) is anticipated to lead the market during the forecast period owing to the rising security regulation by the government and the eCall mandatory initiative launched in Europe. The eCall initiative automatically dials Europe’s emergency number 112 in the case of road accident and facilitates the communication of the vehicle’s location to the emergency services. These initiatives will drive the demand for the Telematic Control Unit (TCU), thereby boosting the growth of the Global Connected Car market over the coming years.

Transponder Segment Analysis

Based on Transponder, Roadside segment is expected to grow at a higher CAGR during the forecast period owing to the increasing demand for the connected vehicle roadside unit owing to the growing construction of smart cities across all over the world. The Roadside unit provides internal data storage for intersection map geometry without need to replace controls. Moreover, the rising emphasis on reducing the number of accidents on the roads will further boost the demand for connected vehicle roadside units over the coming years.

Network Segment Analysis

Based on Network, Cellular segment is anticipated to lead the market during the forecast period owing to the emergence of 5G cellular communication in order to develop Vehicle-to-Everything (V2X). V2X allows the traffic element such as vehicles, roadside, infrastructure, networks and pedestrians, to communicate with each other, thereby providing a promise of safe, intelligent and autonomous driving experience. The spectacular speed offered by the 5G network will promote demand of the Global Connected Car market over the coming years.

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Regional Analysis

Based on region, the Asia-Pacific is expected to grow at the fastest rate during the forecast period owing to the rising demand for infotainment and navigation services in the emerging economies such as India, Japan, China and South Korea. The significant shift in the customers preference towards technology-based vehicle in order to have a better and connected driving experience will positively influence the Connected Car market in this region. The rapid urbanization followed by strong economy growth across different nations and the steady rise in population will further accelerate the growth of the market over the coming years. In addition to this, with the continuous growth in the population and vehicle demand, the Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) issued the National Guidelines for Developing the Standards System of the Telematics Industry (Intelligent and Connected Vehicles). In Japan, various multinational automotive giants are focusing on the development and implementation of connected car services and solutions. This growing emphasis towards the development of platforms for connected cars will drive growth of the Connected Car market in this region

Various notable players operating in the market include Continental AG, Robert Bosch GmbH., Airbiquity Inc., Cloudmade, Tesla, Ford Motor Company, AT & T, Qualcomm Technologies, Inc., TomTom International BV., Sierra Wireless among others.

Key Developments

• • In 2020, Continental AG successfully launched an online portal to automate and standardize software development and integration in the vehicles. This new vehicle saves time and money in the vehicle development process, thereby reducing the overall cost for all the parties involved while increasing the software quality.
  • In 2018, Airbiquity became a member of the Japan Automotive Software Platform and Architecture (JASPAR) in order to bring connected vehicle software development and technology integration expertise to expand in one or more technical working groups.

The Global Connected Car market has been segmented based on Service, Form, End Market, Hardware, Transponder, Network, and Key Region. Based on Services, the market is segmented into Operational Data, Navigation, Remote Diagnostics, Multimedia Streaming, Social Media & Other Apps, Ota Updates, On-Road Assistance, E-Call & Sos Assistance, Cybersecurity, Remote Operation, Collision Warning, Auto Parking/Connected Parking, Autopilot, Home Integration, Vehicle Management and Asset Tracking. Based on Form, the market is segmented into Operational Data, Embedded, Tethered and Integrated. Based on End Market, the market is segmented into Original Equipment Manufacturer (OEM) and Aftermarket. Based on Hardware, the market is segmented into Head Unit, Central Gateway (CGW), Intelligent Antenna, Electronic Control Unit (ECU), Telematic Control Unit (TCU), Keyless Entry Systems and Sensors. Based on transponder, the market is segmented into Onboard Unit and Roadside Unit. Based on Network, the market is segmented into Operational Data, Dedicated Short Range Communication (DSRC) and Cellular.

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Key questions answered in this research report:

• • At what pace is global Connected Car market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Connected Car market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Connected Car market?
  • Which Service generated maximum revenues in 2019 and identify the most promising Service during the forecast period?
  • What are the various Form of global Connected Car market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2027)	USD 266 Billion
Market Base Year	2019
Market Forecast Period	2020-2027
Base Year & Forecast Units	Value (USD Billion)
Market Segment	By Service, By Form, By End Market, By Hardware, By Transponder, By Network and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Continental AG, Robert Bosch GmbH., Airbiquity Inc., Cloudmade, Tesla, Ford Motor Company, AT & T, Qualcomm Technologies, Inc., TomTom International BV., Sierra Wireless, among others; A total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Global Connected Car Market by Service

• • Operational Data
  • Navigation
  • Remote Diagnostics
  • Multimedia Streaming
  • Social Media & Other Apps
  • Ota Updates
  • On-Road Assistance
  • E-Call & Sos Assistance
  • Cybersecurity
  • Remote Operation
  • Collision Warning
  • Auto Parking/Connected Parking
  • Autopilot
  • Home Integration
  • Vehicle Management
  • Asset Tracking

Global Connected Car Market by Form

• • Operational Data
  • Embedded
  • Tethered
  • Integrated Convenience Stores

Global Connected Car Market by End Market

• • Original Equipment Manufacturer (OEM)
  • Aftermarket Tethered

Global Connected Car Market by Hardware

• • Head Unit
  • Central Gateway (CGW)
  • Intelligent Antenna
  • Electronic Control Unit (ECU)
  • Telematic Control Unit (TCU)
  • Keyless Entry Systems
  • Sensors

Global Connected Car Market by Transponder

• • Onboard Unit
  • Roadside Unit

Global Connected Car Market by Network

• • Operational Data
  • Dedicated Short Range Communication (DSRC)
  • Cellular Roadside Unit

Global Connected Car Market by Region

• • North America Connected Car Market
    (Option 1: As a part of the free 25% customization)
    • North America Market by Service
    • North America Market by Form
    • North America Market by End Market
    • North America Market by Hardware
    • North America Market by Transponder
    • North America Market by Network
    • United States of America (US) Market All-Up
    • Canada Market All-Up
  • Europe Connected Car Market
    (Option 2: As a part of the free 25% customization)
    • Europe Market by Service
    • Europe Market by Form
    • Europe Market by End Market
    • Europe Market by Hardware
    • Europe Market by Transponder
    • Europe Market by Network
    • United Kingdom (UK) Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Connected Car Market
    (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Service
    • Asia-Pacific Market by Form
    • Asia-Pacific Market by End Market
    • Asia-Pacific Market by Hardware
    • Asia-Pacific Market by Transponder
    • Asia-Pacific Market by Network
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Connected Car Market
    (Option 4: As a part of the free 25% customization)
    • RoW Market by Service
    • RoW Market by Form
    • RoW Market by End Market
    • RoW Market by Hardware
    • RoW Market by Transponder
    • RoW Market by Network
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Connected Car (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Continental AG
  • Robert Bosch GmbH.
  • Airbiquity Inc.
  • Cloudmade
  • Tesla
  • Ford Motor Company
  • AT & T
  • Qualcomm Technologies, Inc.
  • TomTom International BV
  • Sierra Wireless