Connected Cars Market, By Technology (2G, 3G and 4G/LTE), By Connectivity Solutions (Integrated, Embedded and Tethered), By Application (Driver Assistance, Safety, Entertainment, Well-being, Vehicle Management, and Mobility Management) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2030

Connected cars market accounted for US$ 34.63 billion in 2020 and is estimated to be US$ 194.12 billion by 2030 and is anticipated to register a CAGR of 18.7%.

Connected car can be defined as the presence of devices in automobile which can connect to other devices within the car/vehicle or devices, networks and services outside the car that may include other cars, office, home, or any infrastructure. Connected car provide connections that can warn of traffic, collision and other safety alert. The connected car market is on the verge of transformation as leading companies in automotive industry involved in introduction of new concepts such as artificial intelligence. Further, nowadays car has the computing power of 20 personal computers featured with 100 million line of programming code. However, the attention of the manufactures is turning towards developing such as vehicle that can connect with the outside world and enhance the in-car experience. Smartphone-enabled carpool and car-sharing services such as Uber and Ola are the main examples of the connected cars working as transportation alternatives.

Moreover, the manufacturers are also now focusing more on their research development to transform the automotive industry. Furthermore, manufactures are involved in refining and redefining existing technologies and also introducing new, exciting concepts like artificial intelligence. Furthermore, internet access, infotainment systems, advanced safety functions, driver assistance programs, is expected to drive the connected cars market. The increase in demand of consumers to stay connected with outer world even while travelling the global connected car market is expected to propel. Additionally, the automotive industries are also focused on providing connectivity solutions in their vehicles to increase their sale, owing to the need of connectivity. Besides, the safety service offered by the connected cars is a cutting-edge technology is favoring the growth of connected cars market. As the connected car offers a enhanced driving experience as it improves vehicle efficiency, reduces maintenance cost, fuel consumption, provides safety measures.

However, high cost of installation, threat of data hacking, and unavailability of uninterrupted & seamless connectivity are expected to restrain the connected car market.

Connected cars market is segmented based on technology, connectivity solutions, application, and region.

On the basis of technology, the global connected car market is segmented into 2G, 3G, and 4G. Further, on the basis of connectivity solutions, the market is segmented into integrated, embedded, and tethered. On basis of application is segmented into driver assistance, safety, entertainment, well-being, vehicle management, and mobility management.

Regional Insights:

In the region, the global connected cars market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The connected car market in North America accounted for the highest revenue share and is expected to maintain its dominance over the forecast period. The developed infrastructure network and awareness regarding pollution are expected to drive the global connected car market. Asia Pacific is expected to witness a major revenue in the upcoming years due to the presence of major key players, advancement in technology, increasing safety concerns, etc. is projected to drive the growth in the global connected cars market.

Connected Cars Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global connected cars market report based on technology, connectivity solutions, application and region.

Connected Cars Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the connected cars market includes Telefonica, Verizon Wireless, HARMAN International., TomTom International BV., AT&T Intellectual Property, Vodafone Group, Ford Motor Company, BMW AG, AUDI AG., Mercedes-Benz.

• In June 2024, Smartphone and Connected Cars Usher in a New Era of Insurance Premium Assessment. The integration of technology into daily life has unwrapped a new layer of data analysis concerning the habits of drivers. Tracking family whereabouts, checking the weather, or locating the cheapest gas stations is harmless when using popular smartphone apps. However, there is a significant functionality hidden within such applications: they can collect data on your driving.
• In May 2024, Hyundai and Kia collaborated with Baidu for connected car development. Hyundai and Kia have announced to utilize Baidu's smart cloud computing technology to navigate Beijing's evolving data regulations. As per the recent news report, South Korean companies aimed at exploring new business models by leveraging artificial intelligence technologies.
• In April 2024, Automakers and FCC square off over potential regulations for connected cars. Car manufacturers and the Federal Communications Commission (FCC) are gearing up for a potential fight over whether connected cars should be regulated as small pieces of telecom infrastructure — a decision that would have vast implications for how vehicles handle consumer data.

• Telefonica
• Verizon Wireless
• HARMAN International.
• TomTom International BV.
• AT&T Intellectual Property
•  Vodafone Group
•  Ford Motor Company
• BMW AG
• AUDI AG.
•  Mercedes-Benz