A Comprehensive Look at the Global Connected Car Market, Envisioned to Surpass $225.16 Billion by 2027
Connected car facilitates connectivity on wheels offering comfort, convenience, performance, safety, and security along with powerful network technology.
OREGAON, PORTLAND, UNITED STATESย , January 25, 2024 /EINPresswire.com/ -- Allied Market Research has released a report on โConnected Car Market.โ 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.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - 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.
๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ:
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.
๐๐ก๐ ๐๐/๐๐๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐ ๐ญ๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐-
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.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ - https://www.alliedmarketresearch.com/connected-car-market/purchase-options
๐๐ก๐ ๐๐๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ ๐๐ซ๐ง๐๐ซ๐๐ ๐ฅ๐ข๐จ๐ง'๐ฌ ๐ฌ๐ก๐๐ซ๐ ๐ข๐ง ๐๐๐๐-
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.
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐ ๐ญ๐จ ๐ซ๐ฎ๐ฅ๐ ๐ญ๐ก๐ ๐ซ๐จ๐จ๐ฌ๐ญ ๐๐ฒ ๐๐๐๐-
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.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/153
๐๐๐๐๐ข๐ง๐ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐ง๐ง๐๐๐ญ๐๐ ๐๐๐ซ ๐๐๐ซ๐ค๐๐ญ:
ยท Tesla
ยท BMW GROUP
ยท DAIMLER AG (MERCEDES-BENZ)
ยท LUXOFT
ยท CloudMade
ยท FORD MOTOR COMPANY
ยท TELEFONICA, S.A.
ยท Continental AG
ยท AT&T INC.
ยท VERIZON COMMUNICATIONS INC.
ยท Airbiquity Inc
ยท SAMSUNG ELECTRONICS CO. LTD.
ยท Robert Bosch GmbH
ยท ZUBIE INC.
ยท Qualcomm Technologies Inc.
ยท Intellias Ltd.
ยท VODAFONE GROUP PLC
ยท TOMTOM INTERNATIONAL N.V.
ยท AUDI AG.
ยท Sierra Wireless
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Allied Market Research
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