Connected Car Industry

Connected car facilitates connectivity on wheels offering comfort, convenience, performance, safety, and security along with powerful network technology.

OREGAON, PORTLAND, UNITED STATES , January 25, 2024 /EINPresswire.com/ -- Allied Market Research has released a report on “Connected Car Market.” As per the report the global connected car market is estimated at $63.03 billion in 2019, and is projected to reach $225.16 billion by 2027, growing at a CAGR of 17.1% during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/153

This report provides an in-depth analysis of the connected car market including the most recent trends and potential areas of future growth. It also outlines the current determining factor, the challenges, and opportunities, the most prominent market segments, the consumer behavior, the market performance, the pricing factors, the SWOT analysis and the estimation. Porter's five forces analysis is employed to assess the influence of various elements, including supplier bargaining power, competitive analysis, the threat of new competitors, the threat of substitute products, and the bargaining power of purchasers.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

The market is witnessing a significant trend in the adoption of cybersecurity solutions in car safety systems. In the last few years, data has become an essential component of the automotive industry. Connected cars have their smartphone connected to the car's infotainment. The user's data may include bank and medical information, which are subject to a high possibility of getting misused. Major tech companies like Google and Apple are developing automotive cybersecurity apps to protect data from theft. The purpose of these applications is to make it easy to use, provide visibility into vehicle security, and alert the user in case of unauthorized access from external devices. For instance, Dellfer and DENSO have partnered to develop ZeroDayGauard 1.0, a cybersecurity product for the automotive industry.

𝐓𝐡𝐞 𝟒𝐆/𝐋𝐓𝐄 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝-

Based on technology, the 4G/LTE segment contributed to three-fifths of the global connected car market in 2019, and is estimated to maintain its dominant position during the forecast period. This is due to the better and efficient infrastructure. On the other hand, the 5G segment is expected to register the highest CAGR of 24.3% from 2020 to 2027. Features such as fast data transfer speed and increased bandwidth boost the growth of the segment.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/connected-car-market/purchase-options

𝐓𝐡𝐞 𝐎𝐄𝐌 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐠𝐚𝐫𝐧𝐞𝐫𝐞𝐝 𝐥𝐢𝐨𝐧'𝐬 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟏𝟗-

Based on end user, the OEM segment accounted for more than two-thirds of the global connected car market in 2019, due to increased adoption of connected services in the vehicles. Also, advancement in technology has enabled the customers to choose connected cars services in vehicles which drives the growth of the segment during the forecast period. However, the aftermarket segment is expected to register the highest CAGR of 17.8% from 2020 to 2027. The customer's inclination towards the installation of connected service to their vehicles augments the growth of the segment.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐫𝐮𝐥𝐞 𝐭𝐡𝐞 𝐫𝐨𝐨𝐬𝐭 𝐛𝐲 𝟐𝟎𝟐𝟕-

Based on region, North America contributed to more than one-third of the global connected car market share in 2019, and will maintain its dominance throughout the forecast period. On the other hand, the region across Europe is anticipated to manifest the fastest CAGR of 20.4% from 2020 to 2027. This is due to the increased adoption of better and efficient vehicle safety technology.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/153

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐞𝐝 𝐂𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭:

· Tesla

· BMW GROUP

· DAIMLER AG (MERCEDES-BENZ)

· LUXOFT

· CloudMade

· FORD MOTOR COMPANY

· TELEFONICA, S.A.

· Continental AG

· AT&T INC.

· VERIZON COMMUNICATIONS INC.

· Airbiquity Inc

· SAMSUNG ELECTRONICS CO. LTD.

· Robert Bosch GmbH

· ZUBIE INC.

· Qualcomm Technologies Inc.

· Intellias Ltd.

· VODAFONE GROUP PLC

· TOMTOM INTERNATIONAL N.V.

· AUDI AG.

· Sierra Wireless

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David Correa
Allied Market Research
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