Connected Car Market Revolutionizing the Automotive Industry

Connected Car Market:

Connected Car Market was valued at US$ 28.2 Bn. in 2023 and the total revenue is expected to grow at 19.02% of CAGR through 2024 to 2029, reaching nearly US$ 95.44 Bn.

Connected Car Market Overview:

A connected car is one that has two-way communication capabilities with external systems (LAN). This allows the automobile to exchange data and provide internet access with other devices inside and outside the vehicle. Global automobile markets are already being dominated by connected vehicles. More and more automakers are implementing connected technologies into their automobiles to drive the connected car market.

The study covers the latest revenue and Connected Car market trends. It focuses on the factors that influence the Connected Car market positively and negatively. It includes an overview of the Connected Car industry, its definition, and structure, as well as preventive and planned management.

The report presents a market overview through common subjects that are highlighted with unique data based on the need. This helps in making decisions about how to approach the Connected Car market and understanding the industry landscape. It also aids in determining the future potential of the Connected Car market in the forecast years.

Connected Car Market Report Scope and Research Methodology:

The report provides an in-depth analysis of the Connected Car market size, share, and recent developments. The market was segmented into major segments and sub-segments to understand the Connected Car industry in detail. The report also provides an in-depth analysis of the growth drivers, prevailing opportunities, major restraints, and upcoming challenges for the Connected Car market.

SWOT analysis was used to identify the strengths, weaknesses, opportunities, and threats of the key Connected Car market players in the Connected Car industry. The report also includes information on acquisitions, global presence, mergers, joint ventures, and the financial position of the key Connected Car market players. This helps to understand the competitive landscape of the Connected Car market. The bottom-up approach was used to estimate the regional and global Connected Car market size.

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Connected Car Market Dynamics:

In 2023, the automotive sector will have undergone the most significant change. Automakers must now quickly adapt their organizational structures and technological capabilities to become collaborative software mobility enterprises. OEMs produce both automobiles and software solutions for a more personalized, connected consumer experience.

Because of the auto industry’s ongoing evolution, OEMs have the ability to create new revenue streams and more direct contacts with their customers. Due to the changing corporate climate, OEMs must focus on services and products outside of their core competencies in order to boost profitability. They also need to incorporate connection into their whole connected car market strategy.

 

Connected Car Market Regional Insights:

Geographically, the report is segmented into several key countries, with market size, growth rate, and import and export of Connected Car market in these countries. North America, Europe, Asia Pacific, South America and the Middle East and Africa are the regions covered in the report.

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Connected Car Market Segmentation:

The connected car market is divided into integrated, embedded, and tethered segments based on connectivity. In 2022, integrated connectivity accounted for the greatest market share. In-vehicle networking and communications are crucial for the modern car’s ability to connect with its actuators, modules, and sensors and reduce wire weight.

This network is responsible for controlling the anti-lock brake system (ABS), airbags, air conditioning, anti-theft, door locks, engine, radio, steering, suspension, gearbox, windows, diagnostic testing, and other functions. This network is divided into other smaller networks, such as LIN/SAE 2602, FlexRay, Media Oriented Systems Transport (MOST), etc. Due to cutting-edge advancements in automotive connectivity and technology, the automotive industry is transforming. Artificial intelligence and other technologies are bringing the industry closer to the capabilities of autonomous

Connected Car Market Key Players:

1. Robert Bosch GmbH (Germany)
2. Continental AG (Germany)
3. Audi AG (Germany)
4. ZF Friedrichshafen AG (Germany)
5. Infineon Technologies (Germany)
6. TomTom N.V. (Netherlands)
7. NXP Semiconductors N.V. (Netherlands)
8. Denso Corporation (Japan)
9. Tata Consultancy Services Limited (India)
10. Visteon Corporation (US)
11. Harman International (US)
12. AT&T Inc. (US)
13. Airbiquity Inc (US)
14. Qualcomm Technologies Inc. (US)
15. Tesla, Inc (US)
16. BorgWarner Inc (US)
17. Ford Motor Company (US)
18. Microsoft Corporation (US)
19. Verizon Communications Inc (US)
20. Intel Corporation (US)
21. Sierra Wireless (Canada)
22. Magna International (Canada)

Key Questions answered in the Connected Car Market Report are: 

• Which are the key factors driving the Connected Car market growth?
• Which region held the largest Connected Car market share in 2022?
• Which trends are expected to generate additional revenue for the Connected Car industry?
• What is the expected CAGR of the Connected Car market during the forecast period?
• Who are the key players in the Connected Car market?

Key Offerings:

• A Detailed Analysis of the Market Overview
• Market Share and Size
• Forecast by Revenue | 2023−2029
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
• Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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