Connected Cars Market to Hit USD 191.83 Billion at CAGR of 18.1% by 2028 | Market Projection By Technology, Major key players, Vehicle, Growth, Revenue, CAGR, Regional Analysis, Industry Forecast To 2028 - Fortune Business Insights

Connected Cars Market Key Players Studied in this Report Are 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).


Pune, India, Nov. 02, 2021 (GLOBE NEWSWIRE) -- According to the report by Fortune Business Insights, the global Connected Cars  market size to Hit USD 191.83 Billion at CAGR of 18.1% by 2028.  Dominant Players Such as Audi and Ford Motors to Focus on Promoting the Adoption of Advanced Automotive Technologies. The emergence of automotive electronic startups will enable this market to reach greater heights in the coming years.

The sudden explosion of the COVID-19 pandemic has created unprecedented turmoil across all economic systems around the globe, aggravating the already widespread uncertainty in the business world. Worldwide, governments have been taking emergency measures to wade their economies out of this crisis. Private sector entities are also exploring alternatives to survive these challenging times. At Fortune Business Insights™, we are making concrete efforts to gain market intelligence and equip you with updated information to aid your fight against this crisis. We are offering precise market reports based on our expertise and experience in the field of market research.

Report CoverageDetails
Forecast Period2021-2028
Forecast Period 2021-2028 CAGR18.1%
2028 Value ProjectionUSD 191.83 billion
Base Year2020
Market Size in 2021USD 59.70 billion
Historical Data for2017-2019
No. of Pages200
Segments coveredApplication, Network, Technology, Sales Channel, Communication and Region
Growth DriversIncreasing Adoption of Advanced Driver Assistance System (ADAS) to Fuel the Market
Growing Inclination of Consumers towards Anti-Theft Systems to Drive the Market

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 start-ups specializing in automotive electronics and communications have come up and are advancing Connected Cars technologies. For example, Connexion, an Internet of Things (IoT) start up based in Melbourne, Australia, provides infotainment systems, fleet management solutions, and cloud-based telematics to carmakers. Savari, a California-based startup, offers software and hardware solutions for vehicle manufacturers to arm their vehicles with vehicle-to-everything (V2X) systems and Dedicated Short Range Communication (DSRC) sensors. The proliferation of startups offering innovative automotive communication solutions is expected to open new expansion avenues for this market.

Request a Sample Copy of the Research Report:

Rising Number of Road Accidents Worldwide to Accelerate Growth

One of the leading factors propelling the Connected Cars market growth is the rising number of road traffic accidents around the globe. According to the World Health Organization (WHO), road traffic crashes kill approximately 1.35 million people worldwide every year. Furthermore, between 20 million and 50 million people suffer non-fatal injuries from road accidents, with several accident victims getting afflicted with a temporary or permanent disability. The most common causes of road accidents, the WHO highlights, include driving under the influence, speeding, distracted driving, and unsafe vehicles.

Connected Cars s have the potential to address all these issues as these vehicles operate on real-time data acquired from various sensors attached to the cars. For example, IoT-enabled cars gather real-time traffic and crash data, alerting drivers to changes in surrounding traffic conditions, road hazards, and upcoming obstructions such as pedestrians and cyclists. Smart technologies enhance the safety quotient of a vehicle and can thus reduce the probability of road accidents.

Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit:

Growing Demand for Advanced Automotive Technologies to Boost the Asia Pacific Market

Asia Pacific dominated the Connected Cars market share in 2020 with a market size of USD 32.90 billion on account of the rising preference for high-end, advanced automotive technologies in the region. This evolving dimension in the automotive industry in Asia Pacific is underpinned by the increasing level of disposable incomes among buyers, which is enabling them to demand enhanced safety and infotainment features in vehicles.

In Europe, major automakers such as BMW and Volkswagen are partnering with automotive technology specialists to equip their cars with sophisticated safety features. The market in North America, on the other hand, is set to benefit from the rapid adoption of next-gen connectivity technologies such as 5G in the region.

Quick Buy -  Connected Cars  Market Research Report:

Industry 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.

List of the Companies Operating in the Market:

  • 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)

Have Any Query? Ask Our Experts:

Global Connected Cars Market Segmentation:

By Application:

  • Mobility Management
  • Telematics
  • Infotainment
  • Driver Assistance

By Network Type:

  • 3G
  • 4G
  • 5G
  • Satellite

By Technology Type:

  • Embedded
  • Tethered
  • Integrated

By Sales Channel Type:

  • OEM
  • Aftermarket

By Communication Type:

  • Vehicle to Vehicle
  • Vehicle to Infrastructure

By Geography:

  • North America (USA, Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Get your Customized Research Report:

Table of Contents:

1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2 Technological Developments
4.3 Porter’s Five Forces Analysis
4.4 SWOT Analysis
4.5 Impact of COVID-19
5. Global Connected Cars Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Communication Type
5.2.1 Vehicle to Vehicle
5.2.2 Vehicle to Infrastructure
5.3. Market Analysis, Insights and Forecast – By Application Type
5.3.1 Mobility Management
5.3.2 Telematics
5.3.3 Infotainment
5.3.4 Driver Assistance
5.4. Market Analysis, Insights and Forecast – By Network Type
5.4.1 3G
5.4.2 4G
5.4.3 5G
5.4.4 Satellite
5.5. Market Analysis, Insights and Forecast – By Sales Channel Type
5.5.1 OEM
5.5.2 Aftermarket
5.6. Market Analysis, Insights and Forecast – By Technology Type
5.6.1 Embedded
5.6.2 Tethered
5.6.3 Integrated
5.7. Market Analysis, Insights and Forecast – By Region
5.7.1 North America
5.7.2 Europe
5.7.3 Asia pacific
5.7.4 Rest of the World
6. North America Connected Cars Market Analysis, Insights and Forecast, 2017-2028
6.1. Key Findings / Summary
6.2. Market Analysis – By Communication Type
6.2.1 Vehicle to Vehicle
6.2.2 Vehicle to Infrastructure
6.3. Market Analysis – By Application Type
6.3.1 Mobility Management
6.3.2 Telematics
6.3.3 Infotainment
6.3.4 Driver Assistance

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Fortune Business Insights™
LinkedIn | Twitter | Blogs