Latest Trends In The Connected Cars Market Are Digital And Autonomous Technologies

Connected Cars Market Report 2021: COVID 19 Growth And Change To 2030

Connected Cars Global Market Report 2021: COVID 19 Growth And Change To 2030

Connected Cars Market Report

Connected Cars Global Market Report

The Business Research Company’s Connected Cars Global Market Report 2021: COVID-19 Growth And Change To 2030

LONDON, GREATER LONDON, UK, August 23, 2021 / — Connected car companies are increasingly developing new technologies such as digital and autonomous technologies in order to increase their revenue and also for gaining a competitive edge over their rivals. For instance, in 2019, in Germany, Continental AG launched a smartphone-based digital door opener solution, ‘CoSmA Solution’. This enables Honda electric car owners to unlock their vehicles by using their smartphone. Additionally, Honda electric car owners can unlock their car remotely, through Bluetooth low energy, by using My Honda+ application. This brings a new level of accessibility and the digital key function provides exceptional comfort and new functionality for Honda owners.

The connected cars market consists of sales of connected cars and related services. Connected cars are cars empowered with internet access and local area network which helps to communicate with other vehicles. These cars have wide range of sensors that transmits and receives signals by the manufacturers in conjunction with the services to enhance consumer experience with the real time interaction of the vehicles. These cars can be connected with smartphones or other mobile phones and allow the driver to mechanically monitor the performance of the car.

The global connected cars market size is expected grow from $65.94 billion in 2020 to $78.19 billion in 2021 at a compound annual growth rate (CAGR) of 18.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The connected cars market is expected to reach $142.22 billion in 2025 at a CAGR of 16%.

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Major players covered in the global connected cars market are Robert Bosch GmbH, Ford Motor Company, BMW, Audi AG, General Motors, Delphi, AT&T Inc., Airbiquity, Visteon, Mercedes-Benz, Denso, Apple Inc., Google Inc., NXP Semiconductors N.V., Telefonica, Verizon Wireless, TomTom International BV., Vodafone Group, Honda Motor Co. Ltd, Fiat Chrysler Automobiles, Tesla, Qualcomm, Sierra Wireless, Panasonic, ZF Friedrichshafen AG, Valeo SA, Alcatel Lucent, Daimler AG, Nissan.

TBRC’s connected cars market report is segmented by product type into embedded, tethered, integrated, others; by services into driver assistance, safety, entertainment, well-being, vehicle management, mobility management, others; by application into navigation, infotainment, telematics.

Connected Cars Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides connected cars market overview, forecast connected cars market size and growth for the whole market, connected cars market segments, and geographies, connected cars market trends, connected cars market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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