Connected Car Market size worth USD 148,318.88 Million, Globally, by 2030 at 14.0% CAGR: Verified Market Research®

Connected Car Market size worth USD 148,318.88 Million, Globally, by 2030 at 14.0% CAGR: Verified Market Research®

PR Newswire

JERSEY CITY, N.J., Oct. 12, 2023

The "Global Connected Car Market Size By Service, By Form, By Network, By Geographic Scope And Forecast" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Connected Car Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., Oct. 12, 2023 /PRNewswire/ -- The Global Connected Car Market is projected to grow at a CAGR of 14.0% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 44,854.05 Million in 2021 and is expected to reach USD 148,318.88 Million by the end of the forecast period.

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Browse in-depth TOC on "Connected Car Market"

202 - Pages
126 – Tables
37 – Figures

Revolutionizing Mobility: Connected Car Market Transforming the Automotive Landscape

In a groundbreaking development, the automotive industry is witnessing a transformative shift propelled by connected cars, heralding an era of unparalleled user experience, safety, and convenience. These cutting-edge vehicles, integrated with advanced technology, have redefined the driving experience by seamlessly connecting with other vehicles and infrastructure.

The Future of Driving:

Connected Car Market is at the forefront of innovation, equipped with internet connectivity that enables seamless communication through external hotspots and integrated SIM cards. This connectivity empowers these vehicles to distribute data, download software, and enhance passenger interactions, all while ensuring a safer driving environment through sophisticated sensors that assess distance, speed, and other critical parameters.

Connected Car Market Dynamics:

The demand for connected cars is soaring, driven by the imperative need for enhanced user comfort and the proliferation of in-vehicle networking solutions. Factors such as increased technology dependency, a tech-savvy population, and escalating connectivity demands are fueling this rapid Connected Car Market growth. Furthermore, advancements in technology, coupled with the expanding production of vehicles, and the growing desire for luxury and comfort, are significant contributors to this upward trend.

Global Connected Car Market Impact:

Emerging economies, notably China and India, are pivotal players in this automotive revolution due to their rapid digital transformation and urbanization. The integration of connected cars is amplifying the significance of vehicle safety and security in these regions, reflecting a global shift towards intelligent mobility solutions.

Addressing Challenges:

While the Connected Car Market industry is on an upward trajectory, challenges, particularly in the realm of cybersecurity, are being actively addressed. The vulnerability of connected cars to cyber-attacks has sparked innovative solutions, with the emergence of technologies like 5G and AI promising to enhance security protocols and mitigate risks, ensuring a seamless and secure driving experience for consumers.

Connected Car Market Industry Leaders:

Prominent entities driving this global transformation include industry leaders such as Bosch (Germany), Continental AG (Germany), Delphi Technologies PLC (UK), DENSO Corporation (Japan), Harman International Industries, Inc. (US), Infineon Technologies AG (Germany), NXP Semiconductors N.V. (Netherlands), Toyota Motor Corporation (Japan), Valeo (France), ZF Friedrichshafen AG (Germany), and BorgWarner (US). Their collective efforts are shaping the connected car landscape and revolutionizing the automotive sector.

The connected car market is experiencing robust growth fueled by technological advancements, expanding vehicle production, and consumer demands for advanced in-vehicle experiences. As we navigate the challenges, the integration of 5G and AI technologies promises a future where mobility is not just intelligent but also secure, marking a significant leap in the evolution of the automotive industry.

To get market data, market insights, financial statements and a comprehensive analysis of the Global Connected Car Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Connected Car Market into Service, Form, Network, And Geography.

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Top Connected Car Brands utilizing advanced connectivity technology to its fullest

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