Connected car is referred to as a car equipped with a wireless local area network (wireless LAN) and usually with internet. This connectivity allows the car to share data and the internet access with any other device, both outside or inside the vehicle. In addition, it is installed with a special added technology that connects to internet or wireless LAN, and provides additional benefits such as navigation, vehicle diagnosis, and others to the driver.
Connected cars facilitate connectivity on wheels offering comfort, convenience, performance, safety, and security along with powerful network technology. This enables the driver to connect with online platforms, thereby facilitating real-time communication. Rise in consumer demand for connectivity solution, surge in need for constant connectivity, increase in dependency on technology, and upsurge in tech-savvy population are the key factors that contribute toward the growth of the global connected cars market. The connected car market has witnessed significant growth over the years, owing to increase in trend of connectivity solutions worldwide.
The global connected market is segmented into technology, connectivity solution, services, end use, and region. By technology, the market is categorized into 3G, 4G/LTE and 5G. By connectivity solution, it is segregated into integrated, embedded, and tethered. By service, it is divided into driver assistance, safety, entertainment, well-being, vehicle management, and mobility management. By end use, it is bifurcated into OEM and aftermarket. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the global connected car market are Airbiquity Inc., CloudMade, Continental AG, Intellias Ltd., LUXOFT, Qualcomm Technologies, Inc., Robert Bosch GmbH, Sierra Wireless, Tesla, and ZUBIE, INC., AT&T, Audi AG, BMW Group, Daimler AG, Ford Motor Company, Samsung Electronics, Telefonica S.A., TomTom International, Verizon Communications and Vodafone Group Plc.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Technology
By Connectivity Solutions
By Services
By End-Use
By Region
KEY PLAYERS
Connected cars facilitate connectivity on wheels offering comfort, convenience, performance, safety, and security along with powerful network technology. This enables the driver to connect with online platforms, thereby facilitating real-time communication. Rise in consumer demand for connectivity solution, surge in need for constant connectivity, increase in dependency on technology, and upsurge in tech-savvy population are the key factors that contribute toward the growth of the global connected cars market. The connected car market has witnessed significant growth over the years, owing to increase in trend of connectivity solutions worldwide.
The global connected market is segmented into technology, connectivity solution, services, end use, and region. By technology, the market is categorized into 3G, 4G/LTE and 5G. By connectivity solution, it is segregated into integrated, embedded, and tethered. By service, it is divided into driver assistance, safety, entertainment, well-being, vehicle management, and mobility management. By end use, it is bifurcated into OEM and aftermarket. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the global connected car market are Airbiquity Inc., CloudMade, Continental AG, Intellias Ltd., LUXOFT, Qualcomm Technologies, Inc., Robert Bosch GmbH, Sierra Wireless, Tesla, and ZUBIE, INC., AT&T, Audi AG, BMW Group, Daimler AG, Ford Motor Company, Samsung Electronics, Telefonica S.A., TomTom International, Verizon Communications and Vodafone Group Plc.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents analytical depiction of the global connected car market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Technology
- 3G
- 4G/LTE
- 5G
By Connectivity Solutions
- Integrated
- Embedded
- Tethered
By Services
- Driver Assistance
- Safety
- Entertainment
- Well-being
- Vehicle Management
- Mobility Management
By End-Use
- Original Equipment Manufacturer (OEMs)
- Aftermarket
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Russia
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- Airbiquity Inc.
- CloudMade
- Continental AG
- Intellias Ltd.
- LUXOFT
- Qualcomm Technologies, Inc.
- Robert Bosch GmbH
- Sierra Wireless
- Tesla
- ZUBIE, INC.
- AT&T
- Audi AG
- BMW Group
- Daimler AG
- Ford Motor Company
- Samsung Electronics
- Telefonica S.A.
- TomTom International
- Verizon Communications
- Vodafone Group Plc
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Connected Car Market, by Technology
Chapter 5: Connected Car Market, by Connectivity Solutions
Chapter 6: Connected Car Market, by Service
Chapter 7: Connected Car Market, by End-Market
Chapter 8: Connected Car Market, by Regio
Chapter 9: Company Profiles
Executive Summary
According to the report titled, 'Connected Car Market by Technology, Connectivity Solution, Service, and End Use: Opportunity Analysis and Industry Forecast, 2020-2027', the global connected car market was valued at $63.03 billion in 2019, and is projected to reach $225.16 billion by 2027, registering a CAGR of 17.1% from 2020 to 2027.North America dominated the global connected car market in terms of revenue in 2019, followed by Europe, Asia-Pacific and LAMEA. During the forecast period, Europe is expected to experience growth in the global connected car market owing to a better CAGR as compared to other regions.
Connected car can be defined as a car that is equipped with a wireless local area network (Wireless LAN) and usually with internet. This connectivity allows the car to share data and internet access with any other device both outside and inside the vehicle. In addition, the car is also installed with special added technology that connects to internet or wireless LAN and provides additional benefits such as navigation, vehicle diagnosis, and others to the driver.
Connected car swiftly gained popularity among vehicles due to the introduction of advanced features such as advanced driving system, on-board entertainment, as well as vehicle and mobility management. The concept of connected car has also gained traction due to several government regulations, which has enabled the original equipment manufacturers and aftermarket players to grow their business, which eventually boosts the growth of the connected car market.
Over time, various connectivity solutions have been developed by car manufacturers and service providers. This include the machine-to-machine (M2M) connectivity platform. This M2M feature in a car enables interconnectivity between two connected cars. The car is equipped with numerous sensors and processors, which provide accurate and real-time information to the driver. This in turn fuels the adoption of connected cars across the globe, thus supplementing the growth of the connected car market.
Current trend for the installation of better and efficient connected car system in vehicles has increased due to its advantages such as better and increased vehicle efficiency. This has enabled the manufacturers to make continuous enhancements in existing connected car service; therefore, boosting the growth of the connected car market.
Factors such as rise in trend of connectivity solutions and ease of vehicle diagnosis fuel the growth of the connected cars market. In addition, increase in need for safety & security boosts the market growth. However, threat of data hacking and high installation cost hinder the market growth. Moreover, unavailability of uninterrupted & seamless connectivity restricts the growth of the market. Conversely, integration of intelligent transportation system in connected cars and improved performance of autonomous vehicles are anticipated to provide remunerative opportunities for market expansion.
Key Findings of The Study
By technology, the 5G technology is expected to experience growth owing to an increased CAGR.
By connectivity solution, the embedded connectivity solution segment is expected to experience growth during the forecast period.
By region, North America is the highest revenue contributor in the global connected car market owing to the wider adoption of connected car service among the vehicles running across the region.
By region, Europe is expected to lead the market owing to better growth rate as compared to other regions, during the forecast period.
The key players analyzed in this report include Airbiquity Inc., CloudMade, Continental AG, Intellias Ltd., LUXOFT, Qualcomm Technologies, Inc., Robert Bosch GmbH, Sierra Wireless, Tesla, and ZUBIE, INC.
Companies Mentioned
- Airbiquity Inc.
- CloudMade
- Continental AG
- Intellias Ltd.
- LUXOFT
- Qualcomm Technologies Inc.
- Robert Bosch GmbH
- Sierra Wireless
- Tesla
- ZUBIE Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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