Connected Car Market

Market Leader - Connected Car Market

The global connected car market size is projected to reach USD 166.0 billion by 2025, from an estimated value of USD 53.9 billion in 2020, at a CAGR of 25.2%. The base year for the report is 2019, and the forecast period is from 2021 to 2025.

The market is expected to witness rapid growth due to an increase in demand for connectivity solutions/services and safety and security features. Additionally, an increase in internet penetration and integration of driver-assist technology in vehicles are expected to boost the connected car market during the forecast period.

The connected car market is dominated by globally established players such as Continental (Germany), Bosch (Germany), HARMAN (US), Airbiquity (US), and Visteon (US), among others. These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth connected car market.

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Continental is one of the leading global players in the connected car market. The company provides connected car hardware, network (includes DSRC and cellular), and various solutions and services related to connected cars. The company is focusing on partnerships, collaborations, and joint ventures for connected car services and solutions. For instance, the company partnered with Didi Chuxing to develop internet-connected vehicles. It has also partnered with Argus Cyber Security and Elektrobit to offer security and over-the-air (OTA) software updates that will be pre-integrated into its telematics units, infotainment systems, gateways, and other components.

Bosch is another leading player in the connected car market, followed by HARMAN and Airbiquity. Bosch aims for significant double-digit growth with its connected car solutions. For instance, mobility services from Bosch send alerts about wrong-way drivers and turn smartphones into car keys. The latest of these is the ridesharing service offered by US startup Splitting Fares Inc. (SPLT). Also, Bosch’s IoT activities are broadly diversified, encompassing solutions for connected mobility, connected manufacturing, as well as for connected energy systems and buildings.

HARMAN is one of the key players in the automotive industry with an innovative product offering in the connected car space. The company has developed various products during 2018–19 for connected car solutions. For instance, the company announced the launch of its all-new 5G-ready multiband conformal antennas for automotive applications, which combine multiple antennas in one module that can be mounted below vehicle body panels. Also, the company won a supply contract with Great Wall Motors to deliver its Remote Vehicle Updating Service (a type of OTA) in the company’s vehicle launching in 2019. This announcement was made at the Auto China 2018 show.

Airbiquity develops software technology and builds and deploys connected vehicle programs. It offers automotive customers a complex product portfolio, software development, and integration expertise along with the connected car platform called Choreo.

Visteon provides driver assistance and safety systems to automotive manufacturers. Visteon is one of the leading manufacturers of advanced automotive cockpit electronics and principally operates in the automotive electronics domain. Visteon offers telematics modules such as chipsets, applications like emergency calls, remote features, vehicle health reports, and V2X.

Related Report

Connected Car Market by Service (OTA Update, Navigation, Cybersecurity, Multimedia Streaming, Social Media, e-Call, Autopilot, Home Integration, & Others), Form, End Market (OE, Aftermarket), Network, Transponder, Hardware, & Region - Global Forecast to 2025

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Report Code
AT 5974
RI Published ON
7/22/2020
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