Connected Cars Market Forecast to 2032

The Connected Car Market report provides information on market size, market share, revenue growth, and CAGR from 2022 to 2032. The report also provides key insights about the market's top companies, as well as a thorough SWOT analysis, Porter's Five Forces analysis, and feasibility analysis to provide readers with a competitive advantage. The report focuses on the current pandemic's recent trends, major challenges and opportunities, and limitations.

The global connected cars market size was USD 28.50 Billion in 2022 and is expected to register a steady revenue CAGR of 18.4% during the forecast period, according to latest analysis by Emergen Research. Rapid advancements in sensing technology, rising demand for fuel efficient vehicles globally, and surge in the usage of telematics are key factors driving market revenue growth.

By giving real-time data on a vehicle's fuel usage and range and by adjusting performance to increase fuel efficiency, connected automobiles can aid in fuel management. In order to help drivers choose where to refuel, connected cars can also provide information on the location of neighbouring gas stations and the cost of fuel. These vehicles can also plan the most effective route using information about traffic and road conditions, which can help to save fuel use.

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The global Connected Cars market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Connected Cars industry is witnessing an expansion and change of dynamics owing to the entry of several new players.

The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.

HARMAN International, Continental AG, Robert Bosch GmbH, Tesla, Visteon Corporation, AT&T Intellectual Property, Qualcomm Technologies, Inc., Sierra Wireless, Panasonic Holdings Corporation, and TomTom International BV

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Some Key Highlights From the Report

The 5G segment is expected to register a rapid revenue growth rate over the forecast period. This is due to rapid rollout and adoption of 5G connectivity across various region globally.

The integrated segment is expected to account for largest revenue share over the forecast period. This can be attributed to increasing popularity of Vehicle-to-Vehicle (V2V) communication and Vehicle-to-Infrastructure (V2I) communication in connected cars.

The sensors segment is expected to account for largest revenue share over the forecast period. This is due to rapid advancement made in sensing technology, which are used in connected cars to gather data and improve overall driving experience.

The cellular segment accounted for largest revenue share in 2022. This can be attributed to rising popularity of cellular Vehicle-to-Everything (C-V2X) communication, which is based on 4G and 5G connections and rapid rollout of 5G technology, is further driving revenue growth of the market.

The North America market is expected to account for largest revenue share over the forecast period. This is due to rising government investments and funding to promote research in connected car technology in this region.

On 5 January 2022, Visteon launched AllGo App Store, which was created to satisfy rising demand on a global scale for secure and practical methods of accessing app-based content in a smart, connected cockpit. This app store offers versions of the most popular navigation, parking, mobility, and entertainment apps for automobiles.

Market Overview:

The report bifurcates the Connected Cars market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Technology Outlook (Revenue, USD Billion; 2019-2032)

3G

4G

5G

Connectivity Outlook (Revenue, USD Billion; 2019-2032)

Embedded

Integrated

Tethered

Hardware Outlook (Revenue, USD Billion; 2019-2032)

Central Gateway (CGW)

Head Unit

Intelligent Antenna

Electronic Control Unit (ECU)

Telematic Control Unit (TCU)

Sensors

Others

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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.

Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.

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