PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477176
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477176
Connected Car Mobility Solutions Market size was valued at USD 26,324.12 Million in 2023, expanding at a CAGR of 15.5% from 2024 to 2032.
The Connected Car Mobility Solutions Market refers to the ecosystem of technologies and services that enable vehicles to communicate with each other, infrastructure, and external platforms, enhancing safety, efficiency, and user experience. Recent trends in the market include the rise of connected vehicle platforms integrating advanced telematics, infotainment, and navigation systems, as well as the emergence of autonomous driving features. However, the market faces restraints such as concerns regarding data privacy and cybersecurity and regulatory challenges related to standardization and interoperability. Nonetheless, opportunities abound with the growing demand for connected services, including predictive maintenance, remote diagnostics, and personalized in-car experiences, driven by increasing consumer expectations for seamless connectivity and convenience.
Connected Car Mobility Solutions Market- Market Dynamics
Rising demand for enhanced user comfort, safety, and convenience fuels the adoption of connected car mobility solutions
The escalating demand for heightened user comfort, safety, and convenience is a pivotal catalyst driving the widespread adoption of Connected Car Mobility Solutions, as evidenced by recent data from industry sources. National Highway Traffic Safety Administration (NHTSA), indicating that connected vehicle technologies have the potential to reduce traffic accidents by up to 80% significantly. Moreover, According to the European Automobile Manufacturers' Association (ACEA), approximately 90% of new passenger cars sold in the European Union are expected to be equipped with connected features by 2025, reflecting a notable shift towards connected mobility solutions. These statistics underscore the increasing consumer preference for vehicles with advanced connectivity features, driving innovation and investment in the Connected Car Mobility Solutions market.
Connected Car Mobility Solutions Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 15.5% over the forecast period (2024-2032)
Based on Connectivity Type segmentation, Cellular Connectivity was predicted to show maximum market share in the year 2023
Based on Service Type segmentation, Telematics Services was the leading type in 2023
Based on Vehicle Type segmentation, Passenger Cars was the leading type in 2023
Based on Component segmentation, Software was the leading type in 2023
Based on Application segmentation, Fleet Management was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Connected Car Mobility Solutions Market is segmented based on Connectivity Type, Service Type, Vehicle Type, Component, Application, and Region.
The market is divided into six categories based on Connectivity: Cellular enables continuous vehicle communication, Wi-Fi allows in-car internet access, Bluetooth facilitates wireless connections, V2V enhances real-time data exchange, V2I communicates with roadside infrastructure, and V2X ensures comprehensive vehicle-to-everything communication for safety and efficiency.
The market is divided into seven categories based on Service Type: Connected car mobility services span: Infotainment for entertainment, Telematics for performance insights, Navigation for real-time route planning, Safety and Security for emergency assistance, Remote Diagnostics for proactive maintenance, Driver Assistance for safety features, and Vehicle Management for fleet optimization.
Connected Car Mobility Solutions Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America leads in technological advancements and adoption, driven by strong consumer demand for connected features. Europe follows closely, with a focus on regulatory frameworks and infrastructure development. The Asia-Pacific region shows significant growth potential, fueled by increasing urbanization and rising disposable incomes. Emerging markets in Latin America and Africa exhibit growing interest, spurred by improving connectivity infrastructure and evolving consumer preferences.
Established automotive manufacturers like BMW, Ford, and Toyota leverage their brand reputation and R&D capabilities to offer integrated connected solutions. Technology giants such as Google, Apple, and Qualcomm bring expertise in software development and connectivity technologies, shaping industry standards and user experiences. Emerging startups and niche players focus on specialized solutions, contributing to market diversity and innovation. Partnerships between automakers, tech companies, and telecom providers further drive market growth and service expansion.
In March 2024, Harman launched the Harman Ready Connect 5G Telematics Control Unit (TCU), leveraging new Snapdragon Digital Chasis connected car technologies from Qualcomm Technologies Inc. to push connectivity boundaries and democratize the automotive connectivity landscape.
In February 2022, HARMAN launched HARMAN Savari MECWAVE, a solution for Vehicle-to-Everything (V2X) communications. It facilitates quick deployment of features like hazard alarms and high-throughput networking experiences such as interactive infotainment and video streaming.
GLOBAL CONNECTED CAR MOBILITY SOLUTIONS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Aptiv PLC
AT&T Inc.
Cisco Systems, Inc.
Continental AG
Delphi Technologies PLC
Denso Corporation
Harman International Industries, Incorporated (a Samsung Company)
Intel Corporation
Panasonic Corporation
Qualcomm Incorporated
Robert Bosch GmbH
Telefonaktiebolaget LM Ericsson
TomTom N.V.
Verizon Communications Inc.
Vodafone Group Plc
Others