Enjoy complimentary customisation on priority with our Enterprise License!
The automotive connected car platform market size is forecast to increase by USD 6.57 billion at a CAGR of 13.11% between 2023 and 2028. The market is experiencing significant growth due to the increased focus of Original Equipment Manufacturers (OEMs) on the development of autonomous vehicles and connected vehicles. This trend is driven by the increasing demand for advanced features and enhanced user experiences in vehicles. Rental companies are also adopting connected car platforms to attract customers and improve operational efficiency. However, the market faces design complexity and technological challenges associated with connected car technologies, including data security, interoperability, and integration with various systems. Addressing these challenges will be crucial for market growth and the successful implementation of connected car solutions.
The connected car market is experiencing significant growth due to the integration of advanced vehicle infotainment systems. These systems offer features such as comfort, convenience, performance, and safety, making the driving experience more enjoyable and efficient. Autonomous cars are also driving the demand for connected car technology, with V2V communication playing a crucial role in ensuring safe and efficient vehicle-to-vehicle interaction. The production of vehicles is increasingly relying on sensors and processors to enable real-time data transfer and analysis. Telecommunication companies are partnering with OEMs to provide 3G/4G services, ensuring high-speed data transfer for seamless connectivity. The adoption of connected car technology is not only enhancing the driving experience but also reducing maintenance costs by enabling predictive maintenance.
Suspension systems, such as lightweight suspension systems, are also becoming connected, offering improved performance and safety. Overall, the connected car platform market is expected to continue its growth trajectory, offering numerous opportunities for innovation and development.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The infotainment services segment is estimated to witness significant growth during the forecast period. The Connected Vehicle Market is witnessing significant growth due to the increasing demand for comfort, convenience, performance, safety, and security features in vehicles. Autonomous cars are a key trend in this market, with V2V communication playing a crucial role in ensuring safe and efficient transportation. According to Canalys, the production of connected cars is expected to reach 100 million units by 2025. OEMs are investing in advanced technology, including sensors, processors, and network technology, to offer unique infotainment services and differentiate themselves from competitors. These offerings range from news, weather, social networking, and audio/video streaming to advanced diagnostic systems and fleet management.
Telecommunication companies are providing 3G/4G services with high data transfer speed and bandwidth for seamless connectivity. Telematics enables remote control access, GPS tracking, and online platforms for vehicle maintenance and service scheduling. Smartphones and internet services have become integral to the in-car experience, with many vehicles offering in-car hotspots for uninterrupted connectivity. Safety and security features, such as lane-keep assist and advance diagnostic systems, are also becoming standard offerings in the connected car market.
Get a glance at the market share of various segments Request Free Sample
The Infotainment services segment accounted for USD 4.81 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The market is experiencing significant growth due to the increasing integration of Mobile applications in vehicles. These applications enable Intelligent Transportation System (ITS) services, enhancing safety and convenience for drivers. Safety services, such as emergency assistance and collision notification, are becoming essential features in modern vehicles. Driver assistance systems, including real-time traffic updates and parking space availability, help mitigate the effects of traffic jams and reduce stress for commuters. The Continental Cooperation Portal is an excellent example of a connected car platform, providing seamless integration of various applications and services, ultimately improving the overall driving experience.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased focus of OEMs on the development of autonomous and connected vehicles is the key driver of the market. The Connected Car Market is experiencing significant growth as vehicle infotainment evolves beyond comfort and convenience to include performance, safety, security, and network technology. OEMs are integrating advanced driver assistance systems, such as lane-keep assist features, into their vehicles, while also exploring the potential of V2V communication for improved road safety. Telecommunication companies are partnering with car manufacturers and service providers to offer 3G/4G services for high-speed data transfer and increased bandwidth. These advancements enable telematics applications, such as remote control access, GPS tracking, and infotainment systems, to enhance the driving experience. The integration of sensors and processors into suspension systems and other vehicle components allows for real-time monitoring and predictive maintenance, reducing production costs and maintenance schedules.
Furthermore, the adoption of smartphones and internet services in vehicles has led to the development of in-car hotspots and advance diagnostic systems, enabling fleet management and maintenance scheduling. Overall, the Connected Car Market is transforming the automotive industry, offering new opportunities for innovation and growth.
The rental companies adopting the connected car platform to attract customers is the upcoming trend in the market. The Connected Vehicle Market is experiencing significant growth as both retail consumers and rental players embrace the integration of advanced technologies into vehicles. In emerging markets, rental services, such as Ola in India, are leading the adoption of connected car platforms. Ola Play, the connected car platform offered by Ola, enables users to control various car and driver console functions via their smartphones or an in-car device. This includes features like music and video streaming through online apps, priority booking, and real-time GPS tracking. While the initial focus is on comfort and convenience, safety and performance enhancements, such as V2V communication, lane-keep assist, and advanced diagnostic systems, are expected to be integrated in the future.
Additionally, fleet management and maintenance scheduling will benefit from these technologies, reducing production and maintenance costs. Telecommunication companies play a crucial role in this market, providing 3G/4G services with high data transfer speeds and sufficient bandwidth for seamless connectivity. The integration of telematics, sensors, processors, and network technology in vehicles enhances the overall driving experience, offering features like remote control access, infotainment, and real-time vehicle data monitoring.
The design complexity and technological challenges associated with connected car technologies is key challenge affecting the market growth. The Connected Vehicle Market is witnessing significant growth due to the integration of advanced technologies in Vehicle Infotainment systems. Autonomous Cars are the future of transportation, and V2V Communication is playing a crucial role in enhancing their functionality. According to Canalys, the demand for Connected car features such as Lane-Keep Assist is increasing among drivers. OEMs are focusing on providing Comfort, Convenience, Performance, Safety, and Security to consumers through these systems. Network technology is a key component, with Telecommunication companies providing 3G/4G services for high-speed Data transfer and increased Bandwidth. Telematics and Remote control access are essential features, enabling GPS tracking, Infotainment, and Online platforms.
Furthermore, smartphones and Internet service are integral to the In-car hotspot, allowing for Advance diagnostic systems and Fleet management. The production of vehicles is becoming more complex with the integration of Sensors and Processors. Maintenance cost reduction is a significant benefit, with Suspension systems, such as lightweight suspension systems, being monitored and maintained remotely. Technology continues to evolve, with advancements in Suspension systems and Telematics providing new opportunities for innovation.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Airbiquity Inc. - The company offers a full range of connected vehicle technologies and services, integration expertise, and solution hosting flexibility to its customers.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The connected vehicle market is experiencing significant growth due to the integration of advanced technologies such as vehicle infotainment, autonomous cars, and V2V communication. Canalys reports that the connected car market will reach new heights in the coming years, driven by the demand for comfort, convenience, performance, safety, and security. OEMs and car manufacturers are investing heavily in network technology to provide drivers with real-time information, online platforms, and remote control access. Connected cars are equipped with sensors and processors that collect and transmit data in real-time. Telecommunication companies are partnering with car manufacturers to provide 3G/4G services with high data transfer speed and bandwidth for seamless connectivity.
Furthermore, the integration of telematics in connected cars enables advanced diagnostic systems, GPS tracking, and fleet management. Moreover, the production of vehicles with lightweight suspension systems and advanced safety features, such as lane-keep assist, is also contributing to the growth of the connected car market. This standardization not only facilitates global deployment but also promotes interoperability, compatibility, and cybersecurity in connected vehicles. Smartphones and internet service have become essential tools for drivers, and the in-car hotspot is becoming a standard feature in modern vehicles. The connected car market offers significant opportunities for service providers, telecommunication companies, and car manufacturers to reduce maintenance costs and improve the overall driving experience.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
179 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 13.11% |
|
Market growth 2024-2028 |
USD 6.57 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
11.34 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 59% |
|
Key countries |
US, Germany, China, UK, and Canada |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Airbiquity Inc., AppDirect Inc., AT and T Inc., BlackBerry Ltd., Capgemini Service SAS, Cisco Systems Inc., CloudMade, Connexion Telematics Ltd., GlobalLogic Inc., Harman International Industries Inc., Insurance and Mobility Solutions, Information Technologies Institute Intellias LLC, KaaIoT Technologies LLC, LG Electronics Inc., Microsoft Corp., NNG Software Developing and Commercial Llc., Otonomo Technologies Ltd., Qualcomm Inc., Robert Bosch GmbH, and TomTom NV |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Service
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
