The Global Connected Cars Market was valued at USD 60,378 million in 2018 and is expected to reach USD 212,256 million in 2026, growing at a CAGR of 15.07% by 2027.
The ripple effect of Coronavirus-COVID19 on the Connected Cars Market needs to become part of strategy discussions to emerge strong. The Analyst team is meticulously tracking the impact and relevance to all the sectors in the Connected Cars Market. Key data sets include Revenue Impact analysis, Disruptions and New opportunities in the Supply Chain, Revised Vendor Landscape Mix, New opportunities mapping, and more.
Download Exclusive Free Sample PDF with Top Companies Market Positioning Data
Connected cars are basically a vehicle which shares data with devices installed inside or outside of it through wireless local area network (LAN). Dedicated short-range communication (DSRC) is one of the key components of connected cars component which enables data to be communicated with other devices. Safety and comfort are some of the prominent benefits of using connected cars technology.
Following Top Key players are profiled in this Market Study:
The major players operating in the global connected cars market are General Motors, BMW, Daimler AG, Tesla Inc., Volkswagen AG, Volvo, Jaguar Land Rover, Nissan Motors, Ford Motor Company, and TomTom International N.V. among others
By Application: Driver Assistance, Safety & Security, Entertainment, Vehicle Management, Others
Based on the service, the driver assistance segment is expected to dominate during 2019 to 2026
Based on the service, the market has been segmented into driver assistance, safety & security, entertainment, vehicle management, and others. The driver assistance segment accounts of the largest share in the market and held for more than 40% of the total market in 2018. While the safety & security segment expected to hold the highest CAGR in the global connected cars market during the forecast period.
Ask You Queries | Get 30 Min Free Analyst Call
Middle East Africa
The North America to dominate the connected cars market throughout the forecast period.
North America accounted for nearly 45% share of the global connected cars market in 2018 and is expected to dominate the market throughout the forecast period owing to the presence of leading manufacturers and direct government involvement for the implementation of pilot projects.
Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period owing to the presence of developing countries and one of the leading automobiles production countries, namely, China, India, and Japan. Moreover, growth is further attributable to the highest deployment of connected cars in China. This expected to increase the deployment of connected cars in the domestic market during the forecast period.