Connected Car Market by Offering, Transponder, Technology, Network, Communication Type, End-User

List of Tables

The Connected Car Market was valued at USD 35.76 billion in 2023, expected to reach USD 41.90 billion in 2024, and is projected to grow at a CAGR of 17.86%, to USD 113.00 billion by 2030.

Connected cars represent a significant advancement in the automotive industry, involving vehicles that are equipped with internet connectivity and the ability to communicate with external environments. This connectivity allows for a variety of applications, including navigation, real-time traffic updates, remote diagnostics, and enhanced entertainment and safety features. The necessity for connected cars is driven by consumer demand for increased convenience, safety, and efficiency. The primary end-use applications span across OEM manufacturers, technology firms, and service providers that leverage telematics, V2V (vehicle-to-vehicle), and V2I (vehicle-to-infrastructure) communication technologies. Growth in the connected car market is influenced by factors such as technological advancements in IoT, AI integration, and the increasing emphasis on building smart transportation systems. Opportunities for business growth are tied to the expansion of 5G networks, which offer higher bandwidth and lower latency, fostering advanced vehicle communication systems. Additionally, partnerships between automotive manufacturers and tech companies can yield innovative solutions and applications. However, the market faces limitations such as high initial costs, cybersecurity concerns, and regulatory constraints. The complexity of integrating these systems while ensuring data privacy and security is a formidable challenge. Furthermore, the market's growth may be hindered by consumer concerns over data privacy and the slow development of necessary infrastructure. Recommendations for taking advantage of market opportunities include investing in research and development to innovate cost-effective solutions, exploring AI and blockchain for more secure communication protocols, and focusing on partnerships that enhance service quality and consumer trust. Areas ripe for innovation include autonomous driving capabilities, personalized user experiences, and sustainable energy solutions within connected car frameworks. The evolving nature of this market demands agile business strategies and continuous monitoring of regulatory developments and consumer trends to fully capitalize on emerging opportunities.

KEY MARKET STATISTICS
Base Year [2023]	USD 35.76 billion
Estimated Year [2024]	USD 41.90 billion
Forecast Year [2030]	USD 113.00 billion
CAGR (%)	17.86%

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

The Connected Car 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 car 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 Car Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Connected Car 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 Car Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Connected Car 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 Car Market

A detailed market share analysis in the Connected Car 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 Car Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Connected Car 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 Car Market

A strategic analysis of the Connected Car 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 Car Market, highlighting leading vendors and their innovative profiles. These include Airbiquity Inc., Aisin Seiki Co., Ltd., Aptiv PLC, Autoliv Inc. by Granges Weda AB, Continental AG, Denso Corporation, Harman International by Samsung Electronics Co., Ltd., Hella KGaA Hueck & Co., Infineon Technologies AG, Intellias LLC, Mercedes-Benz Group AG, NXP Semiconductors N.V., Qualcomm Technologies, Inc., Robert Bosch GmbH, TomTom International B.V., Valeo, Verizon Communications Inc., Visteon Corporation, ZF Friedrichshafen AG, and Zubie, Inc..

Market Segmentation & Coverage

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

Based on Offering, market is studied across Hardware and Software. The Hardware is further studied across Communication Devices, Connectivity ICs, Processors, and Sensors.
Based on Transponder, market is studied across Onboard Unit and Roadside Unit.
Based on Technology, market is studied across Embedded, Integrated, and Tethered.
Based on Network, market is studied across Cellular and Dedicated Short Range Communication.
Based on Communication Type, market is studied across Vehicle-to-Cloud, Vehicle-to-Everything, Vehicle-to-Infrastructure, Vehicle-to-Pedestrian, and Vehicle-to-Vehicle.
Based on End-User, market is studied across Aftermarket and Original Equipment Manufacturer.
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-43750BE2261C

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 car 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
- 5.2.1. Component: Vitality of communication devices for vehicular communication with external networks and infrastructure
- 5.2.2. End-User: Preferences for aftermarket due to cost-effectiveness preferences
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 Car Market, by Offering

6.1. Introduction
6.2. Hardware
- 6.2.1. Communication Devices
- 6.2.2. Connectivity ICs
- 6.2.3. Processors
- 6.2.4. Sensors
6.3. Software

7. Connected Car Market, by Transponder

7.1. Introduction
7.2. Onboard Unit
7.3. Roadside Unit

8. Connected Car Market, by Technology

8.1. Introduction
8.2. Embedded
8.3. Integrated
8.4. Tethered

9. Connected Car Market, by Network

9.1. Introduction
9.2. Cellular
9.3. Dedicated Short Range Communication

10. Connected Car Market, by Communication Type

10.1. Introduction
10.2. Vehicle-to-Cloud
10.3. Vehicle-to-Everything
10.4. Vehicle-to-Infrastructure
10.5. Vehicle-to-Pedestrian
10.6. Vehicle-to-Vehicle

11. Connected Car Market, by End-User

11.1. Introduction
11.2. Aftermarket
11.3. Original Equipment Manufacturer

12. Americas Connected Car Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Connected Car Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Connected Car Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
- 15.3.1. Harman and Qualcomm Introduce Ready-Connect 5G TCU for Enhanced Vehicle Connectivity and User Experience
- 15.3.2. Hyundai, Kia, and Samsung Team Up to Revolutionize Driver Convenience with Integrated Car-Home Technology
- 15.3.3. Nvidia and MediaTek Forge Partnership to Drive Innovation in Connected Car Technology
15.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Airbiquity Inc.
2. Aisin Seiki Co., Ltd.
3. Aptiv PLC
4. Autoliv Inc. by Granges Weda AB
5. Continental AG
6. Denso Corporation
7. Harman International by Samsung Electronics Co., Ltd.
8. Hella KGaA Hueck & Co.
9. Infineon Technologies AG
10. Intellias LLC
11. Mercedes-Benz Group AG
12. NXP Semiconductors N.V.
13. Qualcomm Technologies, Inc.
14. Robert Bosch GmbH
15. TomTom International B.V.
16. Valeo
17. Verizon Communications Inc.
18. Visteon Corporation
19. ZF Friedrichshafen AG
20. Zubie, Inc.