The global connected car market is expected to witness a CAGR of 25.6% during the forecast period. The global connected car market is growing significantly owing to an increase in consumer demand for connectivity solutions, rising need for constant connectivity, rising dependency on technology, rise in tech-savvy population, and adoption of IoT, resulting in contributing towards the growth of the global connected car market.

Furthermore, increasing demand for lightweight suspension systems and enhancement in advanced suspension systems are anticipated to provide promising opportunities for the growth of the global connected car market. Nevertheless, the increasing regulations by the government such as ADAS, safety features, etc., and standards set by transportation authorities to install technically developed systems in vehicles will have a positive effect on the industry. However, the lack of a high-speed network underdeveloped IT and communication infrastructure in emerging economies will hinder the growth of the connected car market in Mexico, Brazil, and India.

The COVID-19 outbreak has caused a severe impact on the automotive industry, resulting in a disruption in the supply of automotive components because of a lockdown imposed by the government. This has affected a connected car market as it is directly proportional to vehicle production.

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Browse 93 market data Tables and 55 Figures spread through 210 Pages and in-depth TOC on " Connected Car Market by Service (Connected Services, Autonomous Driving, and Safety & Security), by Connectivity (Tethered, Integrated, and Embedded), by Application (Navigation, Telematics, and Infotainment), by Hardware (Display, Sensors, Smart Antenna, and Electronic Control Unit (ECU)), by Network (Dedicated Short Range Communication (DSRC) and Cellular), by Technology (3G, 4G/LTE, and 5G), and by End-User (Original Equipment Manufacturer (OEM and Aftermarket), and Region - Global Forecast to 2027"

Based on connectivity, The global car connected market is divided into tethered, integrated, and embedded. Embedded connectivity is anticipated to have a faster CAGR due to secure and faster transmission of data with the use of antennas without interference from external sources such as SIM, protection solution, and efficient network. There is rapidly adopting embedded connectivity solution such as eCall and remote diagnostics to comply with regulatory authorities.

The Asia Pacific is anticipated to have the fastest growth during the forecast period in the connected car market. The automotive manufacturers are working on the budget car segment to provide innovative vehicle control and protection technologies. Moreover, the rising demand for the integration of connected devices in passenger cars and the rising popularity of digital services such as software updates and cybersecurity will result in growth in this region.

Some of the major players in the global connected car market include DENSO CORPORATION, Infineon Technologies AG, ON Semiconductor Components Industries, LLC, Robert Bosch GmbH, HARMAN International, Continental AG, VALEO, NXP Semiconductors, TOYOTA MOTOR CORPORATION, and ZF Friedrichshafen AG.

Source: VynZ Research