#connectedcarmarket

The in-vehicle infotainment industry is witnessing rapid transformation driven by technological advancements and evolving consumer preferences. Increasing integration of smart connectivity and enhanced multimedia features is reshaping passenger experience across automotive segments. In-Vehicle Infotainment Market Growth is propelled by rising demand for connected cars, consumer focus on vehicle personalization, and advancements in touchscreen and voice command technologies.  

In-Vehicle Infotainment Market - https://www.coherentmarketinsights.com/market-insight/in-vehicle-infotainment-market-5868  

According to the new market research report “Connected Car Market by Service (OTA Update, Navigation, Cybersecurity, Multimedia Streaming, Social Media, e-Call, Autopilot, Home Integration, & Others), Form, End Market (OE, Aftermarket), Network, Transponder, Hardware, & Region - Global Forecast to 2025", Published by MarketsandMarkets™, The global connected car market size is projected to reach USD 166.0 billion by 2025, from an estimated USD 53.9 billion in 2020, at a CAGR of 25.2%.

The growth of the global connected car market is influenced by factors such as the increasing trend of in-vehicle connectivity solutions and government initiatives toward developments in intelligent transportation systems. Therefore, the connected car market is expected to witness significant growth in the future.

Browse in-depth TOC on "Connected Car Market"

148 – Tables 58 – Figures 218– Pages

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The autopilot market is expected to grow at the fastest CAGR.

The introduction of autopilot would minimize driver intervention. As autonomous technology nears Level 3 & above, it would help achieve the automaker’s goals of commercializing fully autonomous vehicles for consumers by 2022. For instance, the upcoming model of the Cadillac CT6 will be equipped with the semi-autonomous “Super Cruise” feature that will essentially allow fully autonomous single-lane travel on divided highways.

Similarly, Audi will also be including its Level 3 semi-autonomous technology in the upcoming model of the A8. Audi’s AI-based traffic jam pilot would enable highly automated driving at Level 3. With all the developments in the autopilot or autonomous driving field, the demand for connected services related to autopilot is expected to rise in the coming future.

Embedded connectivity is expected to grow at the fastest CAGR in the global connected car market.

The growth in embedded technology is being driven by regulatory mandates in the EU, which recently mandated that all new car models in member states must have embedded technology as part of its European eCall system, connecting a vehicle to emergency services, following a collision and providing location and impact information. Similar mandates could be announced by other countries in the future. The growth of the embedded form of connected solutions in the long term is attributed to various disruptive factors such as government mandates, cost optimization of service plans, and an increase in cloud-based services. By 2025, an embedded form of connectivity is estimated to dominate the market.

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The Asia Pacific is expected to lead the global connected car market during the forecast period.

One of the key drivers for the Asia Pacific market is the increased demand for infotainment and navigation services, particularly in China, Japan, India, and South Korea. The tech-savvy population in these countries demands a better and connected driving experience. The demand for connected cars in the Asia Pacific is driven significantly by the strong economic growth, growing population, and rapid urbanization. As safety regulations have been made in Japan and South Korea, the connected car market in these countries is anticipated to increase in the coming years.

In 2017, the Chinese Ministry of Industry and Information Technology (MIIT) and the Standardization Administration of China (SAC) issued a draft to establish national standards for China’s Intelligent & Connected Vehicles (ICV). Due to the growing population and vehicle demand, China is expected to introduce vehicle and road safety regulations. Baidu and Alibaba, which are the biggest technology companies in China are pushing to develop platforms for connected cars.

Japanese automotive companies are also inventing and implementing connected car services and solutions. In 2019, Airbiquity announced that it became a member of the Japan Automotive Software Platform and Architecture (JASPAR), an organization dedicated to advancing the standardization of in-vehicle software and networks to enhance development efficiency and reliability.

The globally connected car market is dominated by major players such as Continental (Germany), Bosch (Germany), HARMAN (US), Airbiquity (US), and Visteon (US).

Browse Related Reports:

Telematics Solutions Market by Service (ACN, eCall, RSA, Remote Diagnostics, Insurance Risk Assessment, Driver Behavior, Billing & Other), Form & Vehicle Type, Component, Connectivity, Aftermarket, Fleet Management Service, Region - Global Forecast to 2025

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The report "Connected Car 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)- Global Forecast to 2029". The connected motor market size is projected to grow from US$ 69.26 billion in 2018 to US$ 343.17 billion by 2028. The global connected car market is expected to register lucrative growth over the forecast period. This is attributed to increasing demand of automobiles that can connect the passenger to the outer world while travelling.

Further, many key players from automotive industry are investing in connected cars. This is attributed to the increasing profit margin of the car. As for instance, General Motors stated that it’s OnStar 4G capabilities generated $350 million in profit by 2018.

Moreover, the advanced features like navigation, remote diagnostics, 24/7 connectivity, multimedia streaming are some of the drivers the connected car market. 

Key Highlights:

·         The European government has awarded more than US$ 4.56 IN November 2018 to a Bosch-led project which will invest a total of US$ 9.11 million to accelerate the development and deployment of connected and automated vehicle.

·         MG Motor India on November 2018, partnered with Cisco IoT and Unlimit to develop connected enabled devices, as company is now focused in technological advancement with special focus on IoT.

Key Market Insights from the report:        

The global connected car market accounted for US$ 69.26 billion in 2018 and is projected to register a lucrative CAGR of 15.4% over the forecast period. The market report has been segmented on the basis of technology, connectivity solutions, application, and region.

·         By technology the global connected car market is segmented into 2G, 3G, and 4G/LTE and by connectivity solutions the market is segmented integrated, embedded and tethered.

·         By application the global connected car market is segmented into driver assistance, safety, entertainment, well-being, vehicle management and mobility management.

·         By region, North America linear motors market accounted for major revenue share of the global connected cars market and is further anticipated to maintain its dominance over the forecast period. The market in Europe accounted for second-highest revenue share in 2018.

Browse 70 market data tables* and 37 figures* on through 140 slides and in-depth TOC "Global 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) - Global forecast till 2029.

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The prominent player operating in the global connected car 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.      

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