Connected Vehicle Market by Technology Type (2G, 3G, 4G or LTE), Connectivity, Vehicle Connectivity, Application, Vehicle

List of Tables

The Connected Vehicle Market was valued at USD 51.61 billion in 2023, expected to reach USD 62.04 billion in 2024, and is projected to grow at a CAGR of 20.59%, to USD 191.44 billion by 2030.

Connected vehicles represent an innovation in automotive technology, integrating wireless communication capabilities to interact with surrounding vehicles, infrastructure, and the internet, enhancing safety, efficiency, and the driving experience. The necessity for connected vehicles stems from the increasing demand for advanced traffic management systems, safety features, and entertainment options, driven by urbanization and smart city initiatives. This application spans navigation services, infotainment, vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, and telematics. End-use sectors primarily include automotive, logistics, and transport industries, with burgeoning interest in consumer vehicles and commercial fleets. Market growth is significantly influenced by technological advancements in IoT, 5G networks, and AI, fostering improved connectivity solutions. Government regulations promoting vehicle safety standards and eco-friendly practices bolster adoption. Additionally, consumer demand for enhanced driving experiences and real-time data services propels market expansion. However, cybersecurity threats and a lack of cohesive data privacy regulations present limitations, alongside high initial costs for technology integration and infrastructure deployment challenges. To capitalize on growth opportunities, stakeholders can focus on developing robust cybersecurity frameworks and leveraging big data analytics for predictive maintenance and personalized services. Innovations in V2V and V2I communication technologies, particularly leveraging 5G and cloud-based solutions, present ongoing research and development avenues. Additionally, partnerships between automotive manufacturers and tech companies are crucial to accelerate technological adoption and create integrated mobility solutions. Although the connected vehicle market is dynamic and tech-driven, long sales cycles and regulatory delays pose challenges. Ultimately, the nature of the market is competitive, with significant contributions from established automotive giants and emerging tech startups, underlining a need for continuous innovation, strategic collaborations, and agile responses to regulatory changes to maintain a competitive edge and realize business growth potential.

KEY MARKET STATISTICS
Base Year [2023]	USD 51.61 billion
Estimated Year [2024]	USD 62.04 billion
Forecast Year [2030]	USD 191.44 billion
CAGR (%)	20.59%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Connected Vehicle Market

The Connected Vehicle Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Need for safer, efficient, and convenient driving
- Government enforcements for connected vehicle applications
- Integration of automotive telematics and sensor application
Market Restraints
- Lack of standard platform and concern for cyber-terrorism
Market Opportunities
- Prominent growth of 5G network
- Emergence of autonomous vehicles and ADAS
Market Challenges
- Limited supporting infrastructure in certain emerging economies

Porter's Five Forces: A Strategic Tool for Navigating the Connected Vehicle Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Connected Vehicle Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Connected Vehicle Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Connected Vehicle Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Connected Vehicle Market

A detailed market share analysis in the Connected Vehicle Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Connected Vehicle Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Connected Vehicle Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Connected Vehicle Market

A strategic analysis of the Connected Vehicle Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Connected Vehicle Market, highlighting leading vendors and their innovative profiles. These include AB Volvo, AT&T Inc., Audi AG, Bayerische Motoren Werke AG, Continental AG, Daimler AG, Ford Motor Company, Harman International Industries, Hyundai Motor Company, Mercedes-Benz AG, Robert Bosch GmbH, Telefonaktiebolaget LM Ericsson, Tesla, Inc., The General Motors Company, and TomTom, Inc..

Market Segmentation & Coverage

This research report categorizes the Connected Vehicle Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Technology Type, market is studied across 2G, 3G, and 4G or LTE.
Based on Connectivity, market is studied across Embedded, Integrated, and Tethered.
Based on Vehicle Connectivity, market is studied across Vehicle to Infrastructure, Vehicle to Pedestrian, and Vehicle to Vehicle.
Based on Application, market is studied across Driver Assistance, Infotainment, and Telematics.
Based on Vehicle, market is studied across Commercial Vehicle and Passenger cars.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-742BD517CD5C

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Need for safer, efficient, and convenient driving
  - 5.1.1.2. Government enforcements for connected vehicle applications
  - 5.1.1.3. Integration of automotive telematics and sensor application
- 5.1.2. Restraints
  - 5.1.2.1. Lack of standard platform and concern for cyber-terrorism
- 5.1.3. Opportunities
  - 5.1.3.1. Prominent growth of 5G network
  - 5.1.3.2. Emergence of autonomous vehicles and ADAS
- 5.1.4. Challenges
  - 5.1.4.1. Limited supporting infrastructure in certain emerging economies
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Connected Vehicle Market, by Technology Type

6.1. Introduction
6.2. 2G
6.3. 3G
6.4. 4G or LTE

7. Connected Vehicle Market, by Connectivity

7.1. Introduction
7.2. Embedded
7.3. Integrated
7.4. Tethered

8. Connected Vehicle Market, by Vehicle Connectivity

8.1. Introduction
8.2. Vehicle to Infrastructure
8.3. Vehicle to Pedestrian
8.4. Vehicle to Vehicle

9. Connected Vehicle Market, by Application

9.1. Introduction
9.2. Driver Assistance
9.3. Infotainment
9.4. Telematics

10. Connected Vehicle Market, by Vehicle

10.1. Introduction
10.2. Commercial Vehicle
10.3. Passenger cars

11. Americas Connected Vehicle Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Connected Vehicle Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Connected Vehicle Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
14.4. Strategy Analysis & Recommendation

Companies Mentioned

1. AB Volvo
2. AT&T Inc.
3. Audi AG
4. Bayerische Motoren Werke AG
5. Continental AG
6. Daimler AG
7. Ford Motor Company
8. Harman International Industries
9. Hyundai Motor Company
10. Mercedes-Benz AG
11. Robert Bosch GmbH
12. Telefonaktiebolaget LM Ericsson
13. Tesla, Inc.
14. The General Motors Company
15. TomTom, Inc.