Connected Car Market Size [2022] | to Reach USD 191.83 billion by 2028 with 18.1% CAGR


The global connected car market is projected to grow from USD 59.70 billion in 2021 to USD 191.83 billion in 2028 at a CAGR of 18.1% in forecast period, 2021-2028

Pune, India, Feb. 20, 2022 (GLOBE NEWSWIRE) -- The Connected Car Market to Soar at 18.1% CAGR and Hit USD 191.83 billion till 2028; Dominant Players Such as Audi and Ford Motors to Focus on Promoting the Adoption of Advanced Automotive Technologies: Fortune Business Insights™

Today, the automotive industry is stronger than ever, with the world witnessing an exponential rise in vehicular sales in the last decade or so. New technologies such as robotics and Artificial Intelligence (AI) have strengthened and streamlined manufacturing processes, bringing down costs and enhancing efficiency. Our aim is to come out with customized reports that will aid stakeholders to make informed business decisions and maximize their revenues.

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Connected Car Market Growth Reasons:

  • Rising Companies Involvement/Funding and Growing Penetration To Propel Market Development
  • Semi-Autonomous Segment to Grow Rapidly by Innovation & Development from Operating Players
  • Acquisition From Leading Players Operating In The Business to Brightens its Market Prospects
  • Development of Low Weight and Technologically Advanced produsct to Set a Positive Trend For Market Growth

Wireless connectivity systems in cars are a trend that is gaining considerable traction in the automotive industry. Recognizing the potential offered by these changing dynamics, several startups specializing in automotive electronics and communications have come up and are advancing connected car technologies.

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Connected Car Market Report Scope & Segmentation:

Report CoverageDetails
Forecast Period2021 to 2028
Forecast Period 2021 to 2028 CAGR18.1%
2028 Value ProjectionUSD 191.83 Billion
Base Year2020
Market Size in 2021USD 59.70 Billion
Historical Data for2017 to 2019
No. of Pages200
Segments coveredApplication, Technology, Communication, Regions

Connected Car Market Developments:

February 2020: Ford India introduced the FordPassTM, its comprehensive mobile connectivity solution that enables owners to remotely access their cars, call for breakdown assistance, and perform many such functions, in India. All BS-VI Ford cars will have a cloud-based device that connects the vehicles with the FordPass app.

January 2020: Audi of America and Verizon Business Group collaborated to develop and deliver embedded in-vehicle Wi-Fi and advanced connectivity to future Audi cars. Audi’s connect® CARE will be preinstalled in Audi’s A4 and A5 lines and will feature Verizon’s Unlimited data connection powered by Verizon’s 4G LTE network.

IoT-empowered vehicles accumulate continuous traffic and crash information, making drivers aware of changes in encompassing rush hour gridlock conditions, street risks, and impending deterrents like walkers and cyclists. Savvy innovations improve the wellbeing remainder of a vehicle and can subsequently decrease the likelihood of street mishaps. One of the main elements driving the Connected Car Market development is the rising number of street car crashes all over the planet.

Asia Pacific overwhelmed the associated vehicle piece of the pie in 2020 with a market size of USD 32.90 billion because of the rising inclination for very good quality, progressed car innovations in the district. In Europe, significant automakers, for example, BMW and Volkswagen are collaborating with auto innovation experts to furnish their vehicles with refined wellbeing highlights.

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Key Features of Connected Car Market Report:

  • Overview, Industry Life Cycle Analysis, Supply Chain Analysis
  • Size, Trends, Growth Drivers, Constraints, SWOT Analysis, Forecast Analysis
  • Competitive Landscapes: Market Share, Product Portfolio, New Product Launches, etc.
  • Market attractiveness and Associated Growth Opportunities
  • Strategic Growth Opportunities for the Existing and New Players
  • Key Success Factors

List of Key Companies Profiled in this Connected Car Market Report:

• Volvo (Gothenburg, Sweden)

• Ford Motor Company (Michigan, United States)

• TomTom Inc. (Amsterdam, Netherlands)

• Daimler AG (Stuttgart, Germany)

• AT&T (Texas, United States)

• Harman International (Connecticut, United States)

• HYUNDAI MOTOR GROUP (Seoul, South Korea)

• General Motors (Michigan, United States)

• Audi (Ingolstadt, Germany)

• Robert Bosch GmbH ( Gerlingen, Germany)

• Continental AG (Hanover, Germany)

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