Global Connected Car Market to Reach Value of USD 100.64

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Westford,USA, Jan. 02, 2024 (GLOBE NEWSWIRE) — According to SkyQuest report, the burgeoning growth of the global connected car market can be largely attributed to remarkable advancements in communication technologies. The integration of technologies such as 4G/LTE, 5G, and Vehicle-to-Everything (V2X) communication has ushered in a new era of automotive innovation.

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Browse in-depth TOC on the “Connected Car Market”            

  • Pages – 157
  • Tables –  64
  • Figures – 77

The surging popularity of mobility services, such as ride-sharing and car-sharing, has significantly contributed to the rising demand for connected car technology. These evolving modes of transportation rely heavily on real-time connectivity and seamless data exchange between vehicles, drivers, and users in the global connected car market.

Report Scope & Segmentation:                          

Attributes Details
Market Size in 2022 USD 28.92 Billion
2030 Value Projection USD 100.64 Billion
CAGR 19.5%
Forecast Period 2023-2030
Segments Covered
  • Technology
  •  Network type
  •  Sale channels
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Browse summary of the report and Complete Table of Contents (ToC):

Prominent Players in Global Connected Car Market

  • General Motors
  • Audi
  • Ford
  • Mercedes-Benz
  • Toyota
  • Tesla
  • Volkswagen
  • Nissan
  • Volvo
  • Honda
  • Porsche
  • Hyundai
  • Kia
  • Fiat Chrysler Automobiles
  • Renault-Nissan-Mitsubishi Alliance
  • Tata Motors
  • PSA Peugeot Citroën
  • Geely
  • SAIC Motor Corporation
  • Daimler
  • Jaguar Land Rover

Integrated Segment is Expected to Rise Significantly due to their Versatility

Integrated category is anticipated to dominate the global connected car market over the forecast period. These integrated technologies offer many advantages, most remarkably the versatility they provide for data sharing.

The market in Europe is forecast to secure its position as the second-largest region in the global connected car market. This prominent standing can be attributed to the region’s proactive approach to embracing cutting-edge technologies, exemplified by the expanding alliances and collaborations among key market players.

Embedded Segment is Expected to Dominate Market due to Cost Optimization in Service Plans

Embedded sector is poised to secure the second-largest share of the global connected car market, bolstered by several key factors. Among these factors is the drive toward cost optimization in service plans and cloud services. Embedded systems offer an effective means of integrating technology directly into devices and applications, reducing the need for additional infrastructure and operational costs.

Regional market in Asia Pacific is poised to assert its dominance in the global connected car market share, primarily fueled by the increasing adoption of high-end yet affordable connectivity options.

A comprehensive analysis of major global Connected Car market players has been conducted recently. The report encompasses various aspects of the market, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.

Key Developments in Global Connected Car Market

  • PATEO Corporation and Qualcomm Technologies, Inc. recently took their collaboration to the next level with a strong focus on advancing technologies for vehicle intelligence. This strategic partnership aimed to bolster smart car connectivity, delve into service-oriented architecture (SOA), enhance intelligent cockpits, and promote multi-domain fusion through central controllers. Together, they aspired to revolutionize the automotive industry by ushering in a new era of smart and connected vehicles.
  • The London Electric Vehicle Company (LEVC) recently unveiled an exciting alliance with Geotab, a renowned leader in IoT and connected transportation solutions. This partnership had a clear goal: to introduce cutting-edge fleet management technologies for LEVC’s prominent electric TX taxi and VN5 van.

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 Key Questions Answered in the Global Connected Car Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence.
  • In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?

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