GVR Report cover Connected Car Market Size, Share & Trends Report

Connected Car Market Size, Share & Trends Analysis Report By Application (Vehicle Management, Driver Assistance, Mobility Management, Safety, Entertainment, Others), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-648-6
  • Number of Report Pages: 66
  • Format: PDF, Horizon Databook
  • Historical Range: 2017 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Report Overview

The global connected car market size was valued at USD 84.72 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13.4% from 2023 to 2030. Technological proliferation and increased disposable incomes across regions are expected to drive the global market for the next seven years. There have been significant advances in telecommunication technology over the past few years. These advances have offered the population a new level of connectedness. With the development of connected car concepts, vehicle telematics and infotainment technology have progressed to offer HD touch screens, navigation tools, varied applications, and high-speed internet on the go.

U.S. Connected Car market size and growth rate, 2023 - 2030

The industry is expected to get a major push from governments across the nations. The U.S. Department of Transportation, in association with the National Highway Traffic Safety Administration, announced plans for a regulatory proposal that made it mandatory for auto manufacturers the installation of vehicle-to-vehicle communication devices in every automobile they produce in the coming years.

Issues pertaining to safety and security, such as unauthorized access to multiple automobile applications or breaking into the in-vehicle connectivity system, can restrain the market. Moreover, the unavailability of seamless internet connectivity across regions may challenge the connected car industry growth.

Connected cars provide performance, comfort, safety, security, and connectivity. Various online platforms enable drivers and passengers to communicate in real-time on the go with advanced technology. In the coming years, consumer demands, the constant need for connectivity, an increased dependency on technology, and the growth of tech-savvy people will likely fuel industry growth. In addition, telematics mandates (existing and anticipated) from various governments are also critical drivers of the globally market.

Network service providers like Verizon and AT&T provide connectivity technology and utilities to end users and automobile manufacturers. These connectivity devices and technologies transform an ordinary car into a connected car. Application service-providing companies such as Microsoft, TomTom, Intel, Google, and Apple, provide applications, software, and platforms required to run connected car services.

The connected car market shows a promising picture for the future growth of car-embedded technology. This user-friendly technology has increasingly become popular among the end-users. Technological advancements leveraged by automakers enable customers to remotely connect to their cars. In addition to car manufacturers, OEMs also contribute to market expansion. Automobile manufacturers use the services and products provided by the OEMs, which include sensors, processors, fleet managers, wireless, cellular models, and aftermarket services.

Connected car systems can be a potential solution for these problems, which will further help in enhancing the driving experience. Drivers are seeking smarter forms of transportation that can provide them with real-time data on weather conditions, traffic jams, roadblocks, and vacant parking spaces. Connected car systems can be a potential solution for these problems which will further help in enhancing the driving experience. Based on its advantages, the impact of this factor is expected to increase in the future.

Application Insights

Based on application, the market is segmented into vehicle management, driver assistance, mobility management, safety, entertainment, and others. The driver assistance segment accounted for the largest revenue share of 36.1% in 2022 and is estimated to register the fastest CAGR of 15.6% over the forecast period. Driver assistance includes several advanced technologies that help improve the vehicle's performance. Systems such as parking assist and cruise control autonomously steer the vehicle are increasingly being introduced across all car segments, thus ensuring driver comfort and convenience.

In addition, the growing demand for connected and intelligent vehicles, coupled with advancements in connectivity technologies such as 5G, has further boosted the driver assistance segment. Connected cars can leverage cloud-based services, real-time data analysis, and vehicle-to-vehicle communication to provide advanced driver assistance features, such as real-time traffic information, remote diagnostics, and predictive maintenance alerts.

The safety segment is estimated to grow significantly over the forecast period. The rise of autonomous driving technologies has also contributed to the growth of the safety segment in the market. Autonomous vehicles have many sensors and connectivity capabilities, enabling them to gather real-time data and make proactive decisions to avoid accidents. Furthermore, there is a growing concern for road safety and a need to reduce accidents and fatalities. Governments and regulatory bodies promote adopting connected car technologies to enhance road safety.

Mobility management involves implementing systems that allow drivers to reach their desired destinations most efficiently, ensuring their safety, cost-effectiveness, and optimal fuel usage. Safety technologies encompass various features, such as providing drivers with external alerts about hazardous weather and road conditions and incorporating internal autonomous collision prevention and emergency capabilities within vehicles.

Entertainment has been a basic need in virtually every vehicle since its introduction. Auto manufacturers increasingly install features such as smartphone interfaces, Wi-Fi hot spots, internet, social media access, and advanced mobile office platforms.

Vehicle management systems encompass a range of features that empower car owners to minimize operational expenses, enhance convenience, and streamline maintenance. These functionalities include keyless access and ignition, onboard diagnostics providing information on vehicle status, scheduling services, and receiving updates.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 39.7% in 2022. The presence of major automobile manufacturers and technology providers has led North America to dominate the industry. To compete with technological giants such as Apple Inc. and Google Inc., automobile manufacturers must develop innovative capabilities and cultural shifts.

Global Connected Car market share and size, 2022

Moreover, the strong infrastructure for wireless communication and the widespread availability of high-speed internet in North America have supported the growth of connected cars. These infrastructural advancements enable seamless connectivity and data transfer between vehicles and external networks, facilitating the functioning of various connected car features.

Asia Pacific is expected to register the fastest CAGR of 15.3% over the forecast period. Increasing smartphone penetration, deployment of high-speed internet services, and declining average selling price in the region are expected to push the sales of such smart vehicles.

Furthermore, rising consumer disposable income is expected to propel market demand. Middle-class households and rising income levels have increased aggregate disposable income in developing countries. It has led to a rise in spending on advanced high-end and luxury cars, which may catapult demand over the coming years. These factors are expected to benefit the connected cars industry as manufacturers have started to target the middle class, young and high-income groups residing in urban areas by introducing such advanced connectivity technologies in budget and small cars segments. Strong economic growth, especially in countries such as China, India, and Brazil, is expected to contribute to the increasing usage of such advanced technology.

Key Companies & Market Share Insights

The market is highly competitive, and the players are undertaking strategies such as forecast launches, acquisitions, and collaborations to increase their global reach. For instance, in February 2023, Hyundai Motor America launched Bluelink+, a connected car services program. Its service offerings include automatic collision notifications, emergency assistance, and enhanced roadside assistance, ensuring prompt response and support in critical situations. Additionally, Bluelink+ includes car care functionalities, such as monthly vehicle health reports and maintenance alerts, which enable owners to proactively manage their vehicle's condition and reduce long-term maintenance expenses. Some prominent players in the global connected car market:

  • ALE International, ALE USA Inc.

  • Apple Inc.

  • AT&T Intellectual Property

  • AUDI AG

  • BMW AG

  • Aptiv

  • Ford Motor Company

  • General Motors

  • Google LLC

  • NXP Semiconductors

Recent Developments

  • In April 2023, CEREBRUMX announced a strategic investment from BlackBerry Limited to expand its portfolio of connected car data products. This agreement enables CerebrumX to broaden its data gathering and analyzing services while utilizing BlackBerry's cloud-connected automotive AI platform, IVY. CerebrumX can perform intense data processing instantly at the car edge by integrating BlackBerry IVY, providing real-time insights for automakers and other ecosystem suppliers.

  • In March 2023, Aeris acquired Ericsson's IoT Accelerator and Connected Vehicle Cloud businesses and related assets. This acquisition strengthens Aeris' Connected Vehicle business, allowing them to assist numerous Automotive OEMs in deploying, monetizing, and advancing their connected vehicle programs. By merging these businesses, Aeris has created one of the largest IoT-first connectivity management service platforms globally. Together with its network of partners, Aeris aims to deliver innovative IoT solutions that drive digital transformation, enhance operational efficiency, and enhance customer satisfaction for enterprises worldwide.

  • In January 2023, EPAM Systems, in partnership with Renesas Electronics Corporation, launched the "AosEdge" platform, a vehicle-to-cloud (V2C) solution that advances connected car development. This platform enables more efficient delivery of in-vehicle software and simplifies the operation of different software elements within the same environment. It empowers original equipment manufacturers (OEMs) to develop software-defined vehicles, combining EPAM's digital platform expertise with Renesas' embedded automotive software technology. The AosEdge platform provides a comprehensive software infrastructure for vehicles connecting to the cloud.

  • In May 2022, ECARX and COVA Acquisition Corp. announced a merger agreement. The firm specializes in developing hardware and software solutions for connected, automated, and electrified mobility to meet the changing needs of the worldwide automobile industry. ECARX is well-positioned to gain from the move to electric platforms, connected automobiles, and autonomous driving technology. ECARX can offer a full product roadmap and construct an automotive technology platform that effectively satisfies customer needs by collaborating strategically with original equipment manufacturers (OEMs) from the early phases of vehicle development.

  • In February 2022, Mojio launched an innovative program to assist automobile Original Equipment Manufacturers (OEMs) in planning to close 3G cellular networks. This closure will impact many American drivers and may cause essential telematics-based emergency services to be disrupted. Mojio has improved its 4G-connected car service and established the 4G Upgrade Program to address this.

  • In January 2022, Amazon.com, Inc. collaborated with Stellantis NV to transform the in-vehicle experience for multiple Stellantis clients and accelerate the automotive sector towards a software-driven economy. This collaboration aims to integrate Amazon Devices, Amazon Web Services (AWS), and Amazon Last Mile into Stellantis' operations. Stellantis NV plans to expedite its transformation into an environmentally friendly mobility technology company by embracing Amazon's technology and software expertise. The partnership will include various areas, such as vehicle development, connected in-car experiences, and training future generations of automotive software developers.

Connected Car Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 101.20 billion

Revenue forecast in 2030

USD 243.75 billion

Growth rate

CAGR of 13.4% from 2023 to 2030

Base year for estimation

2022

Historical data

2017 - 2021

Forecast period

2023 - 2030

Report updated

September 2023

Quantitative units

Revenue in USD billion, and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; UK.; Germany; France; China; India; Japan; South Korea; Australia; Brazil; Mexico; United Arab Emirates; Saudi Arabia; South Africa

Key companies profiled

ALE International; ALE USA Inc.; Apple Inc.; AT&T Intellectual Property; AUDI AG; BMW AG; Aptiv; Ford Motor Company; General Motors; Google LLC; NXP Semiconductors

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Connected Car Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the globally connected car market report based on application, and region:

Global Connected Car Market Report Segmentation

  • Application Outlook (Revenue, USD Billion, 2017 - 2030)

    • Vehicle Management

    • Driver Assistance

    • Mobility Management

    • Safety

    • Entertainment

    • Others

  • Regional Outlook (Revenue, USD Billion, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

      • United Arab Emirates (UAE)

      • Saudi Arabia

      • South Africa

Frequently Asked Questions About This Report

Table of Contents

Chapter 1. Connected Car Market: Methodology and Scope
                   1.1. Market Segmentation & Scope
                       1.1.1. Application
                       1.1.2. Regional scope
                       1.1.3. Estimates and forecast timeline
                   1.2. Research Methodology
                   1.3. Information Procurement
                       1.3.1. Purchased database
                       1.3.2. GVR’s internal database
                       1.3.3. Secondary sources
                       1.3.4. Primary research
                       1.3.5. Details of primary research
                   1.4. Information or Data Analysis
                   1.5. Market Formulation & Validation
                   1.6. Model Details
                   1.7. List of Secondary Sources
                   1.8. List of Primary Sources
                   1.9. Objectives
Chapter 2. Connected Car Market: Executive Summary
                   2.1. Market Outlook
                   2.2. Segment Outlook
                       2.2.1. Application outlook
                       2.2.2. Regional outlook
                   2.3. Competitive Insights
Chapter 3. Connected Car Market Variables, Trends & Scope
                   3.1. Market Lineage Outlook
                   3.2. Industry Value Chain Analysis
                   3.3. Market Dynamics
                       3.3.1. Market driver analysis
                       3.3.2. Market restraint analysis
                       3.3.3. Market opportunity analysis
                   3.4. Connected Car Market Analysis Tools
                       3.4.1. Industry analysis - Porter’s
                           3.4.1.1. Supplier power
                           3.4.1.2. Buyer power
                           3.4.1.3. Substitution threat
                           3.4.1.4. Threat of new entrant
                           3.4.1.5. Competitive rivalry
                       3.4.2. PESTEL analysis
                           3.4.2.1. Political landscape
                           3.4.2.2. Technological landscape
                           3.4.2.3. Economic landscape
Chapter 4. Connected Car Market: Application Estimates & Trend Analysis
                   4.1. Connected Car Market: Key Takeaways
                   4.2. Connected Car Market: Movement & Market Share Analysis, 2022 & 2030
                   4.3. Vehicle Management
                       4.3.1. Vehicle management market estimates and forecasts, 2017 to 2030 (USD Billion)
                   4.4. Driver Assistance
                       4.4.1. Driver assistance market estimates and forecasts, 2017 to 2030 (USD Billion)
                   4.5. Mobility Management
                       4.5.1. Mobility management market estimates and forecasts, 2017 to 2030 (USD Billion)
                   4.6. Safety
                       4.6.1. Safety market estimates and forecasts, 2017 to 2030 (USD Billion)
                   4.7. Entertainment
                       4.7.1. Entertainment market estimates and forecasts, 2017 to 2030 (USD Billion)
                   4.8. Others
                       4.8.1. Others market estimates and forecasts, 2017 to 2030 (USD Billion)
Chapter 5. Connected Car Market: Regional Estimates & Trend Analysis
                   5.1. Regional Outlook
                   5.2. Connected Car Market by Region: Key Takeaway
                   5.3. North America
                       5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.3.2. U.S.
                           5.3.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.3.3. Canada
                           5.3.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                   5.4. Europe
                       5.4.1. UK
                           5.4.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.4.2. Germany
                           5.4.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.4.3. France
                           5.4.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                   5.5. Asia Pacific
                       5.5.1. Japan
                           5.5.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.5.2. China
                           5.5.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.5.3. India
                           5.5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.5.4. Australia
                           5.5.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.5.5. South Korea
                           5.5.5.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                   5.6. Latin America
                       5.6.1. Brazil
                           5.6.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.6.2. Mexico
                           5.6.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                   5.7. MEA
                       5.7.1. Saudi Arabia
                           5.7.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.7.2. South Africa
                           5.7.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
                       5.7.3. United Arab Emirates (UAE)
                           5.7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Billion)
Chapter 6. Competitive Landscape
                   6.1. Recent Developments & Impact Analysis, By Key Market Participants
                   6.2. Market Participant Categorization
                       6.2.1. ALE International, ALE USA Inc.
                           6.2.1.1. Company overview
                           6.2.1.2. Financial performance
                           6.2.1.3. Product benchmarking
                           6.2.1.4. Strategic initiatives
                       6.2.2. Apple Inc.
                           6.2.2.1. Company overview
                           6.2.2.2. Financial performance
                           6.2.2.3. Product benchmarking
                           6.2.2.4. Strategic initiatives
                       6.2.3. AT&T Intellectual Property
                           6.2.3.1. Company overview
                           6.2.3.2. Financial performance
                           6.2.3.3. Product benchmarking
                           6.2.3.4. Strategic initiatives
                       6.2.4. AUDI AG
                           6.2.4.1. Company overview
                           6.2.4.2. Financial performance
                           6.2.4.3. Product benchmarking
                           6.2.4.4. Strategic initiatives
                       6.2.5. BMW AG
                           6.2.5.1. Company overview
                           6.2.5.2. Financial performance
                           6.2.5.3. Product benchmarking
                           6.2.5.4. Strategic initiatives
                       6.2.6. Aptiv
                           6.2.6.1. Company overview
                           6.2.6.2. Financial performance
                           6.2.6.3. Product benchmarking
                           6.2.6.4. Strategic initiatives
                       6.2.7. Ford Motor Company
                           6.2.7.1. Company overview
                           6.2.7.2. Financial performance
                           6.2.7.3. Product benchmarking
                           6.2.7.4. Strategic initiatives
                       6.2.8. General Motors
                           6.2.8.1. Company overview
                           6.2.8.2. Financial performance
                           6.2.8.3. Product benchmarking
                           6.2.8.4. Strategic initiatives
                       6.2.9. Google LLC
                           6.2.9.1. Company overview
                           6.2.9.2. Financial performance
                           6.2.9.3. Product benchmarking
                           6.2.9.4. Strategic initiatives
                       6.2.10. NXP Semiconductors
                           6.2.10.1. Company overview
                           6.2.10.2. Financial performance
                           6.2.10.3. Product benchmarking
                           6.2.10.4. Strategic initiatives


List of Tables

Table 1 List of abbreviation
Table 2 North America connected car market, by application, 2017 - 2030 (USD Billion)
Table 3 North America connected car market, by region, 2017 to 2030 (USD Billion)
Table 4 U.S. connected car market, by application, 2017 - 2030 (USD Billion)
Table 5 Canada connected car market, by application, 2017 - 2030 (USD Billion)
Table 6 Europe connected car market, by application, 2017 - 2030 (USD Billion)
Table 7 Europe connected car market, by region, 2017 to 2030 (USD Billion)
Table 8 Germany connected car market, by application, 2017 - 2030 (USD Billion)
Table 9 UK connected car market, by application, 2017 - 2030 (USD Billion)
Table 10 France connected car market, by application, 2017 - 2030 (USD Billion)
Table 11 Asia Pacific connected car market, by application, 2017 - 2030 (USD Billion)
Table 12 Asia Pacific connected car market, by region, 2017 to 2030 (USD Billion)
Table 13 China connected car market, by application, 2017 - 2030 (USD Billion)
Table 14 Japan connected car market, by application, 2017 - 2030 (USD Billion)
Table 15 India connected car market, by application, 2017 - 2030 (USD Billion)
Table 16 Australia connected car market, by application, 2017 - 2030 (USD Billion)
Table 17 South Korea connected car market, by application, 2017 - 2030 (USD Billion)
Table 18 Latin America connected car market, by application, 2017 - 2030 (USD Billion)
Table 19 Latin America connected car market, by region, 2017 to 2030 (USD Billion)
Table 20 Brazil connected car market, by application, 2017 - 2030 (USD Billion)
Table 21 Mexico connected car market, by application, 2017 - 2030 (USD Billion)
Table 22 Middle East and Africa (MEA) connected car market, by application, 2017 - 2030 (USD Billion)
Table 23 Middle East and Africa (MEA) connected car market, by region, 2017 to 2030 (USD Billion)
Table 24 South Africa connected car market, by application, 2017 - 2030 (USD Billion)
Table 25 Saudi Arabia connected car market, by application, 2017 - 2030 (USD Billion)
Table 26 United Arab Emirates (UAE) connected car market, by application, 2017 - 2030 (USD Billion)  


List of Figures

Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value-chain-based sizing & forecasting
Fig. 6 QFD modeling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Connected car: Market outlook
Fig. 9 Connected car: Competitive insights
Fig. 10 Parent market outlook
Fig. 11 Related/ancillary market outlook
Fig. 12 Penetration and growth prospect mapping
Fig. 13 Industry value chain analysis
Fig. 14 Connected car market driver impact
Fig. 15 Connected car market restraint impact
Fig. 16 Connected car market strategic initiatives analysis
Fig. 17 Connected car market: Application movement analysis
Fig. 18 Connected car market: Application outlook and key takeaways
Fig. 19 Vehicle management market estimates and forecasts, 2017 - 2030
Fig. 20 Driver assistance market estimates and forecasts, 2017 - 2030
Fig. 21 Mobility management market estimates and forecasts, 2017 - 2030
Fig. 22 Safety market estimates and forecasts, 2017 - 2030
Fig. 23 Entertainment market estimates and forecasts, 2017 - 2030
Fig. 24 Others market estimates and forecasts, 2017 - 2030
Fig. 25 Global connected car market: Regional movement analysis
Fig. 26 Global connected car market: Regional outlook and key takeaways
Fig. 27 North America market estimates and forecasts, 2017 - 2030
Fig. 28 U.S. market estimates and forecasts, 2017 - 2030
Fig. 29 Canada market estimates and forecasts, 2017 - 2030
Fig. 30 Europe market estimates and forecasts, 2017 - 2030
Fig. 31 UK market estimates and forecasts, 2017 - 2030
Fig. 32 Germany market estimates and forecasts, 2017 - 2030
Fig. 33 France market estimates and forecasts, 2017 - 2030
Fig. 34 Asia Pacific market estimates and forecasts, 2017 - 2030
Fig. 35 Japan market estimates and forecasts, 2017 - 2030
Fig. 36 China market estimates and forecasts, 2017 - 2030
Fig. 37 India market estimates and forecasts, 2017 - 2030
Fig. 38 Australia market estimates and forecasts, 2017 - 2030
Fig. 39 South Korea market estimates and forecasts, 2017 - 2030
Fig. 40 Latin America market estimates and forecasts, 2017 - 2030
Fig. 41 Brazil market estimates and forecasts, 2017 - 2030
Fig. 42 Mexico market estimates and forecasts, 2017 - 2030
Fig. 43 Middle East and Africa market estimates and forecasts, 2017 - 2030
Fig. 44 Saudi Arabia market estimates and forecasts, 2017 - 2030
Fig. 45 South Africa market estimates and forecasts, 2017 - 2030
Fig. 46 United Arab Emirates (UAE) market estimates and forecasts, 2017 - 2030

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Market Segmentation

  • Connected Car Application Outlook (Revenue, USD Billion, 2017 - 2030)
    • Vehicle Management
    • Driver Assistance
    • Mobility Management
    • Safety
    • Entertainment
    • Others
  • Connected Car Regional Outlook (Revenue, USD Billion, 2017 - 2030)
    • North America
      • North America Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
        • Vehicle Management
        • Driver Assistance
        • Mobility Management
        • Safety
        • Entertainment
        • Others
      • U.S.
        • U.S. Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • Canada
        • Canada Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
    • Europe
      • Europe Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
        • Vehicle Management
        • Driver Assistance
        • Mobility Management
        • Safety
        • Entertainment
        • Others
      • UK
        • UK Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • Germany
        • Germany Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • France
        • France Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
    • Asia Pacific
      • Asia Pacific Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
        • Vehicle Management
        • Driver Assistance
        • Mobility Management
        • Safety
        • Entertainment
        • Others
      • Japan
        • Japan Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • China
        • China Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • India
        • India Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • Australia
        • Australia Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
        • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • South Korea
        • South Korea Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
    • Latin America
      • Latin America Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
        • Vehicle Management
        • Driver Assistance
        • Mobility Management
        • Safety
        • Entertainment
        • Others
      • Brazil
        • Brazil Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • Mexico
        • Mexico Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
    • Middle East and Africa
      • Middle East and Africa Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
        • Vehicle Management
        • Driver Assistance
        • Mobility Management
        • Safety
        • Entertainment
        • Others
      • South Africa
        • South Africa Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • Saudi Arabia
        • Saudi Arabia Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others
      • United Arab Emirates (UAE)
        • United Arab Emirates (UAE) Connected Car Market, Application Outlook (Revenue, USD Billion, 2017 - 2030)
          • Vehicle Management
          • Driver Assistance
          • Mobility Management
          • Safety
          • Entertainment
          • Others

Connected Car Market Dynamics

Driver: Technological proliferation

There have been significant advances in telecommunication technology over the past few years. These advances have offered the population with a new level of connectedness. With the development of the connected car concept, car telematics and infotainment technology have progressed to offer HD touch screens, navigation tools, varied applications, and high-speed internet on-the-go. Connected car technologies can be categorized in segments in term of their technical and commercial prospects. Mobility management is comprised of systems that enable drivers to reach their destination in the least possible time, safely, at a reasonable cost, and with optimal fuel consumption. Cars with inbuilt navigation systems have access to real-time traffic information that automatically helps drivers reroute to avoid traffic jams and can provide information on reasonably priced fueling stations and parking bays. Over the next few years, navigation systems are expected to identify fuel-efficient routes for existing traffic patterns and drivers will thus be able to access highway warnings and messages.

Driver: Favorable government regulations

The U.S. Department of Transportation in association with the National Highway Traffic Safety Administration has announced plans for a regulatory proposal that would make it mandatory for car manufacturers for the installation of vehicle-to-vehicle communication devices in every automobile they produce in the coming years. Automobile manufacturers have increasingly embraced the concept of connected car in recent years that uses high-speed, low-latency connections to enable a network between cars. The resulting network would allow for a more advanced and sophisticated anti-collision system00, thus preventing unfortunate crashes and eventually easing traffic congestion. This technology is expected to play a key role in improving the driving activity by helping drivers avoid crashes and unfortunate accidents.

Restraint: Issues pertaining to the privacy and security of the users

Possibilities of unauthorized access to multiple car applications or breaking into the in-vehicle connectivity system can act as a restraint for the connected car market. Proximity is not required in order to infect the car’s system as malware can spread by hacking into the manufacturer’s or dealer’s web portal. The major security concern is that the hacker has access to the car’s computer system as well as to the data that it collects and stores.

What Does This Report Include?

This section will provide insights into the contents included in this connected car market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Connected car market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Connected car market quantitative analysis

  • Market size, estimates, and forecast from 2018 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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Research Methodology

A three-pronged approach was followed for deducing the connected car market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for connected car market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of connected car market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Connected Car Market Categorization:

The connected car market was categorized into two segments, namely application (Vehicle Management, Driver Assistance, Mobility Management, Safety, Entertainment), and regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The connected car market was segmented into application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The connected car market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S.; Canada; the UK.; Germany; France; China; India; Japan; South Korea; Australia; Brazil; Mexico; United Arab Emirates; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Connected Car market companies & financials:

The connected car market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Apple Inc. - Headquartered in the U.S., Apple was founded in the year 1976. The company designs, manufactures, and markets personal computers, media devices and mobile communication, portable digital music players, and sells various related services, software, networking solutions, and accessories. The company provides CarPlay, a service designed for the usage of iPhones in cars. CarPlay connects the phone to the car and enables information on the car’s built-in display.

  • AT&T Inc. - Headquartered in the U.S., AT&T was founded in the year 1984, through an agreement with the U.S. Department of Justice to divest the local telephone operations and retain manufacturing, R&D, and long-distance operations. The company provides wireline and wireless connectivity products and services. The company offers mobile services, connectivity services, next-gen TV, and solutions for businesses. AT&T also provides connectivity solutions such as connected cars, devices, and machines.

  • Audi AG - Founded in the year 1899, Audi AG is headquartered in Germany. The company manufactures cars under its brand name and its scope of work includes design, development, manufacturing, assembling, distribution, and selling vehicles of Lamborghini and Audi worldwide. Audi is a subsidiary of Volkswagen Group and offers cars in its supercar and premium car segment. The company offers Audi connect, a connected car service, to its customers to provide information about weather, traffic, and direction using Google Voice search.

  • BMW Group - Headquartered in Germany, Bayerische Motoren Werke (BMW) was founded in 1916 by Franz Josef Popp. The company manufactures premium brand cars and off-road vehicles under the Rolls-Royce, MINI, and BMW names, as well as motorcycles under the Husqvarna and BMW names. The company has a global reach in more than 140 countries and operates 30 assembly and production facilities in 14 countries. BMW provides its connected drive services & apps that make tasks quicker & easier to perform by connecting with the devices inside the car. BMW ConnectedDrive product portfolio includes features that are convenient during the journey, increase safety levels for passengers, and connect with the infotainment system.

  • CarForce - CarForce is a cloud based enterprise software platform that develops a cloud-based SaaS solution to leverage connected car telematics by provide drivers with real-time updates on customer’s vehicles.

  • Delphi Automotive PLC - Delphi Automotive PLC was established in 1994 headquartered in the UK. Delphi is a global commercial vehicle and automotive company, which markets solutions that help make vehicles safe, green, and connected. The company operates through four business segments including electronics and safety, electrical/electronic architecture, thermal systems, and powertrain systems. Delphi Connect, a wholly owned subsidiary of Delphi Automotive, offers connected products for cars. The connected car is compatible with over 99% of the vehicles from the 1996 model year and the newer ones.

  • Ford Motor Company - Ford Motor Company is headquartered in the U.S. and was established in 1903. It manufactures and distributes automobiles worldwide. Ford’s operating sectors include financial services and automotive. The company’s automotive sector is responsible for the manufacturing and distribution of vehicles; their aligned accessories & spare parts, and vehicle servicing. The vehicles are sold mainly under the Lincoln and Ford brand names. Ford’s internet connected car services include SYNC, SYNC with MyFord Touch, and SYNC 3. These services establish connection between the car and the internet.

  • General Motors Company - Founded in 1908, General Motors (GM) is headquartered in the U.S. The company manufactures cars and trucks along with popular brands such as GMC, Chevrolet, Cadillac, and Buick. General Motors operates through four regional automotive segments, which include GM North America, GM South America, GM Europe, and GM International operations. OnStar, a wholly owned subsidiary of GM, provides in-vehicle security, subscription-based communication, remote diagnostics, navigation, and hands-free calling systems. The service is provided across the U.S., China, Canada, Mexico, and Europe.

  • Google Inc. - Established in 1998, Google Inc. is headquartered in the U.S. The company primarily offers web search services. Google network consists of third-party customers that deliver relevant ads to their websites using Google’s tools and programs. Google is also involved in providing a variety of on and off web tools for business application. Google is involved in developing technology for self-driving cars. The Google self-driving car project by Google X offers technology for automated electric and conventional fuel cars. The self-driving equipment is compatible with Toyota Prius, Lexus RX450h, and Audi TT.

  • NXP Semiconductors N.V. - NXP Semiconductors N.V., headquartered in the Netherlands, is a worldwide semiconductor supplier. The company is categorized into two market segments, namely High Performance Mixed Signal (HPMS) and Standard Products (SP). NXP offers product solutions across a wide range of applications such as identification, wireless infrastructure, lighting, automotive, mobile and industrial, consumer, and computing. The automotive application area comprises automotive lighting, transmission/throttle control, ABS, telematics, car entertainment, in-vehicle networking and car access & immobilizers.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Connected Car Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Connected Car Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

What questions do you have? Get quick response from our industry experts. Request a Free Consultation
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