Connected Car Market Set to Exceed US$ 215 Billion by 2026 End

  • 09 May 2019

Connected cars services like remote diagnosis, route navigation, infotainment, usage-based insurance and autonomous driving are a by-product of Big data and high-speed internet connectivity. Advanced automatic electronics technology is soon becoming a norm in the cars for speed monitoring, real-time communication, enhanced road safety and comfort while on the drive. Other devices based on Internet of Things(IoT) are augmenting further telematics and automotive digital tools improvements. Increase in regulatory norms for road safety, trending preferences for connectivity solutions, the comfort of vehicle diagnosis contributes to other factors fuelling the growth of connected car market.
The global 
connected car market is estimated to value over  US $215 billion by 2026 end, registering a boosted CAGR of 13.4% during 2019-2026. 

Global Connected Car Market Restraints
•    Lack of investments for advanced data analytics and AI algorithms
•    High cost involved in connected car hardware
•    Rising data theft and vulnerability of connected cars hacking threat
•    Ubiquitous availability of uninterrupted high-speed connectivity

Global Connected Car Market, by Technology 
+ 3G
+ 4G/LTE
+ 5G

Global Connected Car Market, by Connectivity Solutions 
+ Integrated
+ Embedded
+ Tethered
The advent of broadband connectivity on mobile devices opened the tremendous potential for integrated connectivity solutions using human-machine interface in cars. Integrated connectivity solution is anticipated to occupy half of the market segmentation amongst both embedded and tethered segment during the forecast period. Embedded connectivity solution is forecasted to soon map the CAGR of the integrated connectivity solutions segment in succeeding years.

Global Connected Car Market, Service 
+ Driver Assistance
+ Safety and Security 
+ Well-being
+ Entertainment
+ Mobility Management
+ Vehicle Management


Global Connected Car Market, End Market
+ OEM  
+ Aftermarket

Global Connected Car Market, by Region 
+ North America 
+ Latin America 
+ Europe 
+ Asia Pacific 
+ Rest of the World 
Based on the market maturity north America leads the overall global connected car market with premier revenue generation. A surge in the deployment of connected cars in the APAC region, particularly in China, is estimated to attribute the market expansion at an impressive CAGR.

Competitive Landscape:   
+ Tier 1 players- established companies in the market with a major    market share 
+ Tier 2 players  
+ Emerging players which are growing rapidly  
+ New Entrants   

FutureWise Key Takeaways:  
+ Growth prospects 
+ SWOT analysis  
+ Key trends  
+ Key data-points affecting market growth  

Objectives of the Study:  
+ To provide an exhaustive analysis of the global connected cars market on the basis of technology, connectivity solutions, service, end market, and regions
+ To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 
+ To evaluate and forecast micro-markets and the overall market  
+ To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 
+ To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 
+ Profiling of companies to evaluate their market shares, strategies, financials and core competencies   

 

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