Connected Car Market

Market Leaders - Connected Car Market

The global connected car market is projected to reach USD USD 56.3 billion by 2026, from an estimated USD 23.6 billion in 2021, at a CAGR of 19.0% from 2021 to 2026. The base year for the report is 2020, and the forecast period is from 2021 to 2026. 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 the 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). 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.

To know about the assumptions considered for the study download the pdf brochure

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. It focuses on organic developments, new product developments, and expansions. The company is aligning its cost structure to global market conditions. In addition to adjusting cost structure, it is continuously increasing its level of automation and digitization in the production environment with more than 2,000 robots, including autonomous, driverless transportation systems. To strengthen its footprint in the connected car market, the company partnered with and acquired various connected car-related companies in the field of AI, hardware, internet, security, and OTA services. It acquired Cartica AI and Katrein Automotive and partnered with Avis Budget Group, Didi Chuxing, Argus Cyber Security, and Elektrobit.

Bosch is another leading player in the connected car market, followed by HARMAN and Airbiquity. Bosch continues to drive its transformation into a provider of connected mobility services. Initiatives such as all-in-one central control units for V2X data communication and new cloud-connected software service to manage and monitor the battery life of electric vehicles are the key developments of Bosch during 2019–20. With a strong geographical presence in developed countries, collaborations with connected car solution providers, and a focus on innovation in autonomous and connected technologies, the company is expected to be one of the key players in the connected car market. In 2020, the company announced several personnel measures, primarily for its Powertrain Solutions, Automotive Steering, Electrical Drives, and Chassis Systems Control divisions. These measures included investments in driver assistance systems and automated driving, electrified vehicles, fuel cells, vehicle computers and software, semiconductors and partially integrated vehicle systems, services related to mobility cloud, and software. Strategic expansions in countries with a high penetration of autonomous and electric vehicles would help the company enhance its market share at the global level.

Thus, considering the continuous developments and innovations in connected car hardware and software, the connected car market is expected to grow significantly. The implementation of stringent government mandates for the installation of safety features such as e-call, collision warning systems, etc., is expected to further boost connected car services adoption. Increasing demand for premium and luxury vehicles is also an important factor for the growth of the connected car market.

Related Reports:

Connected Car Market by Service ICE & EV (OTA, Navigation, Cybersecurity, Multimedia Streaming, Social Media, e-Call, Autopilot, Home Integration), Form, Market (OE, Aftermarket), Network, Transponder, Hardware and Region - Global Forecast to 2026

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
AT 5974
RI Published ON
12/14/2021
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Connected Car Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2021 MarketsandMarkets Research Private Ltd. All rights reserved