Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The "Connected Car Devices - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global Connected Car Devices market is experiencing rapid growth, with the market expected to expand from $69.2 billion in 2022 to an impressive $262.1 billion by 2030.
This substantial growth is driven by various factors, including the increasing adoption of Driver Assistance Systems and Telematics, as well as the growing demand for connected car devices in key regions such as the United States, China, Japan, and Canada.
Key Market Trends:
- Driver Assistance Systems: The Driver Assistance Systems segment is expected to grow at an 18.1% Compound Annual Growth Rate (CAGR) and reach $109.3 billion by 2030. This growth is attributed to the rising demand for advanced driver assistance features in vehicles, enhancing safety and convenience for drivers.
- Telematics: The Telematics segment is projected to achieve an 18.9% CAGR over the next eight years. Telematics technology is becoming increasingly important for monitoring and managing vehicles, enabling features such as remote diagnostics, vehicle tracking, and connected services.
- Geographic Markets: Key geographic markets include the United States, China, Japan, Canada, and Europe. China, as the world's second-largest economy, is expected to reach $44.2 billion in the connected car devices market by 2030, with a CAGR of 17.2%. Japan and Canada are also forecasted to experience significant growth, with CAGRs of 15.7% and 15.2%, respectively.
- Technology Categories: The analysis covers various technology categories, including telematics, driver assistance systems, other technologies, long-range/cellular networks, and dedicated short-range communication. These technologies play a crucial role in enhancing connectivity and vehicle functionality.
- Vehicle Types: The market analysis considers different vehicle types, including passenger cars, light commercial vehicles, and heavy commercial vehicles. The adoption of connected car devices is observed across various vehicle categories.
Market Scope
This comprehensive analysis explores the global market for connected car devices, offering insights into various geographic regions, including the USA, Canada, Japan, China, Europe, Asia-Pacific, and the Rest of the World. The analysis covers recent, current, and future trends, providing annual sales figures in US$ million from 2022 to 2030 and corresponding percentage Compound Annual Growth Rates (% CAGR). It also offers an 8-year perspective with a percentage breakdown of value sales for 2023 and projections for 2030 across different regions.
The analysis extends to various technology categories, such as telematics, driver assistance systems, other technologies, long-range/cellular networks, and dedicated short-range communication. Additionally, it considers different vehicle types, including passenger cars, light commercial vehicles, and heavy commercial vehicles. Finally, the summary encapsulates the market's historical data and future prospects, providing a comprehensive overview of the connected car devices industry.
Select Competitors (Total 42 Featured) -
- Autoliv, Inc.
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Harman International Industries, Incorporated
- Infineon Technologies AG
- Magna International, Inc.
- Panasonic Corporation
- Robert Bosch GmbH
- Valeo S.A.
What's New?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $69.2 Billion |
| Forecasted Market Value (USD) by 2030 | $262.1 Billion |
| Compound Annual Growth Rate | 18.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/cgwasi
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