DUBLIN--(BUSINESS WIRE)--The "Connected Car Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global connected car market reached a value of US$ 62.83 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 156.6 Billion by 2027, exhibiting a CAGR of 16.44% during 2021-2027.
- AT&T Inc.
- Audi AG (Volkswagen AG)
- Bayerische Motoren Werke AG
- Continental AG
- Ford Motor Company
- Mercedes-Benz Group AG
- Qualcomm Incorporated
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Sierra Wireless
- Tesla Inc.
- TomTom N.V.
- Verizon Communications Inc.
- Vodafone Group Plc.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Connected cars refer to vehicles that are equipped with internet connectivity and advanced communication technologies to facilitate the exchange of information via numerous communication channels. They are designed to offer improved vehicle performance, enhanced convenience to the users, and efficient interaction of the transport system with its surroundings to prevent road accidents and notify prompts regarding parking space availability.
They also provide real-time traffic alerts to the driver and alarm emergency services in case of an unfortunate circumstance. Along with this, these alerts and signals further aid in enhancing the overall traffic performance and road safety management while ensuring optimal driving comfort. The growing dependency on uninterrupted connectivity to access navigation services is providing a thrust to the market growth.
The market is primarily driven by the increasing demand for in-car safety solutions. In line with this, the widespread integration of connected cars with advanced driver-assistance systems (ADAS) for mapping road obstacles and anti-lock braking systems (ABS) to enable safe braking is expected to create a positive outlook for the market.
Moreover, the advent of 5G connectivity and the rising utilization of artificial intelligence (AI) and machine-to-machine (M2M) interconnectivity between multiple cars are favorably impacting the market. In line with this, continual developments in the manufacturing of advanced suspension systems are also providing an impetus to the market.
The market is further driven by the escalating popularity of luxury cars among individuals with high disposable income levels and the emergence of autonomous driving trends. Some of the other factors contributing to the market growth include rapid digitization across the automotive sector and extensive research and development (R&D) activities conducted by key players.
Key Questions Answered in This Report:
- How has the global connected car market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global connected car market?
- What are the key regional markets?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the connectivity solutions?
- What is the breakup of the market based on the service?
- What is the breakup of the market based on the end market?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global connected car market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Connected Car Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Technology
7 Market Breakup by Connectivity Solutions
8 Market Breakup by Service
9 Market Breakup by End Market
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/9oasuz
Laura Wood, Senior Press Manager
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