Authored By: Sarah
07 Mar 2023

Connected Car Market Size to Grow by USD 172,767.39 Million at a CAGR of 27.36% Between 2022 and 2027

The connected car market share is estimated to grow at a CAGR of 27.36% between 2022 and 2027. The size of the market is forecast to increase by USD 172,767.39 million. The connected car market will witness a YOY of 24.41% in 2023. 

“Government regulations to increase in-vehicle safety and improvement in safety controls and Big data platforms provided by connected cars to push further developments will boost the market growth”, says a senior analyst at Technavio. 

Browse Technavio's 171-page report and in-depth TOC on "Connected Car Market by connectivity (embedded solutions, integrated solutions, and tethered solutions), end-user (OEM and aftermarket), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

View detailed Table of Contents Here: https://www.technavio.com/report/connected-car-market-industry-analysis

Connected Car Market Size to Grow by USD 172,767.39 Million at a CAGR of 27.36% Between 2022 and 2027

The connected car market growth by the embedded solutions segment will be significant during 2023-2027. The growing demand for hybrid vehicles worldwide is encouraging smartphone manufacturers to develop applications that will help consumers connect their smartphones to the vehicle to provide the real-time status of their vehicle battery.

North America will contribute 35% of the growth rate during the forecast period. The US and Canada are among the major contributors to the growth of the market in North America. The primary factors for the growth are the advent of IoT technologies in cars and the rising adoption of vehicle-to-vehicle (V2V) connectivity.

Some of the key connected car market vendors are Airbiquity Inc., Alps Alpine Co. Ltd., AT and T Inc., BMW AG, BorgWarner Inc., DXC Technology Co., Ford Motor Co., Intellias group, Mercedes Benz Group AG, NXP Semiconductors NV, Qualcomm Inc., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schaeffler AG, Sierra Wireless Inc., Telefonica SA, Tesla Inc., Valeo SA, Volkswagen AG, and Zubie Inc. 

Some of the Vendor Offerings are: 

airbiquity.com- The company offers water-soluble fertilizers such as jeevika fertilizers.

alpsalpine.com- The company offers water-soluble fertilizers such as granular urea fertilizers.

att.com- The company offers water-soluble fertilizers such as idrofloral plus.

Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact on the market in focus. Download the PDF Sample Report 

Key Elements Included in the Connected Car Market Report: 

  • The connected car market report covers in-depth information about key vendors and their product offerings. 

  • The key driver, trends and challenges, market opportunities, and the detailed market impact analysis 

  • Five force analysis to analyze the potential of buyers and suppliers and the competitive industry scenario. 

  • Connected car industry across North America, Europe, APAC, South America, and Middle East and Africa.

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